Aqua Vie Beverage Corp. receives $5 million recapitalization commitment

Business Wire, April 4, 1995

BUFFALO, N.Y.--(BUSINESS WIRE)--April 4, 1995--A private investment group, located in Buffalo, Tuesday announced that they had signed a letter of commitment whereby they have agreed to provide, on a best efforts basis, an initial $5 million for the recapitalization of Aqua Vie Beverage Corp. (OTC:AVBC).

Subject to court approval, these funds would be available to Aqua Vie Beverage Corp. to fund the expenses of resuming bottling operations, with the intent of emerging from Chapter 11, as soon as possible.

The terms of the financing proposal call for the issuance of 1 million shares of Cumulative Convertible Preferred Stock, 500,000 shares at $2.50 per share, and 500,000 shares at $5.00 per share, as well as a loan for $300,000 in interim working capital.

CONTACT: Aqua Vie Beverage Corp., Ketchum, Idaho

800/407-2655