True 2 Beauty, Inc. announced this morning that the “Libigrow” family of products will have much larger production capacity as a result of a five million dollar private placement set at $0.20 per share with no warrants attached. Proceeds will be used to increase the company’s Los Angeles manufacturing facility’s production capacity from one million pills per month to twenty million pills per month.
The first $2,300,000 has already been subscribed and the first wire transfer order has been received. Subscribers currently include accredited investor customers of True 2 Beauty and European accredited investors. The company expects the offering to be over subscribed.
Alex Hbaiu, President and CEO of True 2 Beauty, Inc., stated, “This financing to expand our production will allow us to quickly fill our order backlog and to sign new orders from customers we met at this month’s National Convenience Store Trade Show (NACS) which has 143,000 members in the United States.”
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