INDIANAPOLIS, IN--(Marketwired - Oct 8, 2013) - Stevia Corp. (
Stevia Corp. is developing a line of consumer beverages and has a committed buyer to off-take the first production run of 1,766,400 x 330ml (11oz) cans. SC Brands, LLC was registered in Singapore on October 1st, 2013 as a subsidiary company to operate this new venture. SC Brands is 70% owned by Stevia Corp. and 30% owned by SL Group Holdings Pte Ltd which will provide initial capital funding of up to one million dollars in the form of a convertible promissory note with a fixed conversion price of 25 cents, convertible into common shares of Stevia Corp. Brizzles Asia Pacific Pte Ltd will off-take the production and manage the distribution.
The products will be manufactured in Asia to Stevia Corp.'s specifications, and initial distribution will focus on Asia and Africa where Brizzles has strong distribution channels.
George Blankenbaker, Stevia Corp. President, comments, "We continue to leverage the stevia plant's medicinal and herbal properties to enhance already popular and proven healthy products while benefiting from its natural sweetness. Most manufacturers continue to define stevia as a sugar replacement additive in an attempt to replace the sugar content of unhealthy sugar laden products and end up with taste profile issues that don't meet consumers' expectations. Stevia Corp. has identified a means to successfully introduce products that utilize stevia in applications that increase the products' health attributes while naturally enhancing its flavor profile and appeal."
Further details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information visit: www.steviacorp.us.
About Stevia Corp. (
Stevia Corp. is a farm management company focused on best practice agronomic competency in order to deliver high value crops through proprietary plant breeding, excellent agricultural methodologies and innovative post-harvest techniques. For more information visit: www.steviacorp.us.
About the Stevia Industry Sector
Within two years of the USA market opening, Nielsen-based retail consumption data indicated almost $1 billion of retail sales for the sector. In 2010, stevia products were launched across thirty-five countries and in 38 categories. Zenith International estimates worldwide sales of stevia extract reached 3,500 tons in 2010 with an overall market value of $285 million and forecasts the global market for stevia will reach 11,000 tons by 2014. For more information visit: www.steviacorp.us.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, development of consumer beverages line, committed purchaser of beverages, capital funding for SC Brands LLC, distribution channels, business strategy, worldwide sales of stevia extract and sweetened products, growth of stevia leaf production and growth of the stevia global market. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.