Blue Water Global Group, Inc. $BLUUD announces that it has entered into an Investment Agreement with Dutchess Opportunity Fund, II, LP, a Delaware limited partnership ("Dutchess"). Under the terms of this Investment Agreement, Dutchess has committed to purchase up to $5 million of Blue Water's common stock at a fixed 5% discount to market over a period of 36 months upon the effectiveness of a Registration Statement on Form S-1, which is being filed today.
Key elements of the Investment Agreement include:
The sales price of any shares sold to Dutchess will be based on the prevailing market prices so Blue Water can maximize the price per share for financing received;
Only Blue Water may initiate and control the timing and amount of stock sold to Dutchess;
Blue Water is under no obligation to use the entire $5 million;
There are no special covenants, restrictions, rights of first refusal, participation rights, penalties or other limitations to Blue Water receiving financing from other sources, potentially on terms more favorable; and
Blue Water may terminate the Investment Agreement at its sole discretion without penalty.
Blue Water will use the proceeds of this financing to:
Repay outstanding bridge financing;
Complete the development of the St. Maarten based Blue Water Bar & Grill™; and
Open the planned Blue Water Bar & Grill™ restaurants in Aruba, Grand Cayman, Cozumel, Barbados and Bahamas.
Blue Water's President and CEO, J. Scott Sitra, stated, "We are very excited about this financing agreement. This financing will allow us to strategically finance our planned near and long-term capital expenditures without disrupting ongoing business operations or hindering market trading conditions. Not only does this financing strictly limit our exposure to 'discount to market' financing, but it also minimizes overall dilution while benefiting our core business development efforts and boosting overall stockholder equity."
About Dutchess Capital
Dutchess Capital was founded in 2000. Since then Dutchess has been a market leader and innovator in providing unique financing structures for publicly traded companies. Dutchess has transacted over $2 billion in Equity Line Facilities ("ELF") worldwide and maintains offices in Boston, New York, London, Beijing and São Paulo.
Blue Water Global Group, Inc. is a publicly held developer of casual dining restaurant properties. Blue Water is currently developing a chain of casual dining restaurants in popular tourist destinations throughout the Caribbean under the Blue Water Bar & Grill™ brand. Additionally, Blue Water is also engaged in making strategic equity investments in promising businesses that are in the early stages of obtaining their own listing on the OTCBB.
Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Blue Water Global Group, Inc. ("Blue Water") assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws. For a description of additional risks and uncertainties, please refer to Blue Water's filings with the Securities and Exchange Commission, including "Risk Factors" in its Annual Report filed on Form 10-K.
CONTACT: Blue Water Global Group, Inc.
P: 949.264.1475
F: 949.607.4052
http://www.bluewaterglobalgroup.com
info@bluewaterglobalgroup.com
Disclaimer: http://alturl.com/3yt3r
Key elements of the Investment Agreement include:
The sales price of any shares sold to Dutchess will be based on the prevailing market prices so Blue Water can maximize the price per share for financing received;
Only Blue Water may initiate and control the timing and amount of stock sold to Dutchess;
Blue Water is under no obligation to use the entire $5 million;
There are no special covenants, restrictions, rights of first refusal, participation rights, penalties or other limitations to Blue Water receiving financing from other sources, potentially on terms more favorable; and
Blue Water may terminate the Investment Agreement at its sole discretion without penalty.
Blue Water will use the proceeds of this financing to:
Repay outstanding bridge financing;
Complete the development of the St. Maarten based Blue Water Bar & Grill™; and
Open the planned Blue Water Bar & Grill™ restaurants in Aruba, Grand Cayman, Cozumel, Barbados and Bahamas.
Blue Water's President and CEO, J. Scott Sitra, stated, "We are very excited about this financing agreement. This financing will allow us to strategically finance our planned near and long-term capital expenditures without disrupting ongoing business operations or hindering market trading conditions. Not only does this financing strictly limit our exposure to 'discount to market' financing, but it also minimizes overall dilution while benefiting our core business development efforts and boosting overall stockholder equity."
About Dutchess Capital
Dutchess Capital was founded in 2000. Since then Dutchess has been a market leader and innovator in providing unique financing structures for publicly traded companies. Dutchess has transacted over $2 billion in Equity Line Facilities ("ELF") worldwide and maintains offices in Boston, New York, London, Beijing and São Paulo.
Blue Water Global Group, Inc. is a publicly held developer of casual dining restaurant properties. Blue Water is currently developing a chain of casual dining restaurants in popular tourist destinations throughout the Caribbean under the Blue Water Bar & Grill™ brand. Additionally, Blue Water is also engaged in making strategic equity investments in promising businesses that are in the early stages of obtaining their own listing on the OTCBB.
Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Blue Water Global Group, Inc. ("Blue Water") assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws. For a description of additional risks and uncertainties, please refer to Blue Water's filings with the Securities and Exchange Commission, including "Risk Factors" in its Annual Report filed on Form 10-K.
CONTACT: Blue Water Global Group, Inc.
P: 949.264.1475
F: 949.607.4052
http://www.bluewaterglobalgroup.com
info@bluewaterglobalgroup.com
Disclaimer: http://alturl.com/3yt3r
