Reed's raises ~$3M in private placement at $0.93/share; majority stockholder invests $1M

REED'S, INC.

Issued 3,225,806 shares at $0.93/share to D&D Source of Life Holding (majority stockholder) and four other accredited investors.
Aggregate gross proceeds of approximately $3,000,000; D&D invested $1,000,000.
Proceeds to be used for working capital, personnel, marketing, strategic transactions, and international expansion.
Company agreed to file Form S-1 within 15 days to register the shares for resale.

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