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.