Las Vegas, NV -- (SBWIRE) -- 09/13/2013 -- Montalvo Spirits Inc (OTCBB:TQLA) declared that it signed agreement to sell a common stock of $50,000 to Lincoln Park Capital Fund. LPC can further invest equity capital up to $10 million on the sole option of TQLA.
Montalvo said that LPC paid $0.50 per share for the common stock of company and a premium of 78% was paid on August 30, 2013 closing price. The purchase agreement stands for 24 months during which the company can sell further stock to LPC. The company has not set any upper limits to stock price that LPC will pay.
Montalvo Spirits Inc., previously Advanced Cloud Storage, Inc. develops and sells alcoholic beverages in the United States. The company is focusing on the artisanal spirits class. It sells the beverages through a network of licensed distributors.
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