HOUSTON, Oct. 23, 2013 /PRNewswire/ -- Genufood Energy Enzymes Corp. (GFOO), an exporter and distributor of nutraceutical enzyme products, announced that the President, Yi Lung Lin, the Principal Accounting Officer, Pei Wei Jiang and Attorney, Faiyaz Dean had on October 3, 2013 attended a meeting with Southridge LLC and entered into an Equity Purchase Agreement (EPA) Term Sheet with them whereby Southridge is committed to purchase up to US $20 million worth of common shares of GEEC within a period of two years.
"With Southridge providing the funding we are confident that we can execute our business plan to expand the market for our enzyme supplements," said Mr. Lin. "The plan calls for a new ProCellax® packaging and bottling plant in Singapore as well as a ProAnilax® re-packing plant in Sri Lanka. These new plants will enable the Company to enjoy a lower cost of sales, stronger market share and higher profitability in the years ahead."
"We will sign the Equity Purchase Agreement and Registration Rights Agreement and a new S-1 registration form will be filed with the Securities and Exchange Commission soon," added Mr. Lin.
About Genufood Energy Enzymes Corp.
Genufood Energy Enzymes Corp. is a leading true enzyme distributor and exporter. For more information, visit www.geecenzymes.com.
|SOURCE Genufood Energy Enzymes Corp.|
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