PALM BEACH, Fla., May 9, 2016 /PRNewswire/ -- HPC Acquisitions Inc. (HPCQ) DBA Vegalab US ("Vegalab US"), has today announced the completion of its first round private placement of 1,000,000 shares of its common stock at $0.50 per share, as well as its initial sales results from the distribution of all-natural, sustainable agricultural products.
In April 2016, the first month of marketing, Vegalab US achieved over $450,000 of sales and believes that orders will continue to increase steadily.
"The scale of success you see from our first month of marketing supports our strong belief that there is a significant appetite in the United States for all-natural products that make a positive difference, without depleting the earth's resources. Our initial sales combined with the scope of application for our range of products gives us confidence to seek additional capital in the near term to fund the growth opportunity," said David Selakovic, the CEO of HPCQ/Vegalab US.
Vegalab US has already begun marketing its products in Latin America, where the marketplace is perhaps even more convinced of the need for environmentally responsible agricultural products rooted in sustainability. The first orders are expected in the second quarter of 2016 from Costa Rica and Panama.
To facilitate development of the opportunities in the US and Latin America, Vegalab US is now looking for new distribution partners in those markets.
About Vegalab US
Vegalab US is a distributor of natural fertilizers, pesticides, and specialty biological agents for use in agriculture. The active ingredients consist primarily of oil extracts from different plant sources. Vegalab US holds exclusive distribution rights in the Western Hemisphere to a product line of natural agricultural products distributed globally by Vegalab SA.
Safe Harbor for Forward-looking Statements
This news release may contain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities, and growth prospects, they are based on management's current beliefs and assumptions as to future events. However, since the company's operations and business prospects are always subject to risk and uncertainties, the forward-looking events and circumstances discussed in this news release might not occur, and actual results could differ materially from those described, anticipated, or implied. For a more complete discussion of such risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission.
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SOURCE Vegalab US