DRYWORLD announced today that it has entered into an agreement with Burdell Partners LLC in which Burdell will provide a $6.5mm equity investment into the Company. The investment will be made in multiple tranches in exchange for common stock in the Company. DRYWORLD plans to use the funds to expand operations and drive growth.
Co-Founder and Co-CEO of DRYWORLD Brian McKenzie comments: “We are grateful for the support and excited to work with Burdell Partners. They understand the major opportunity with our brand in the public market and share our vision of the future for DRYWORLD. This structure enables the company to drive national and international expansion with little dilution.”
A company spokesperson for Burdell Partners LLC commented “We are looking forward to working with Brian, Matt and the rest of the DRYWORLD team on a long term basis. We share the vision of DRYWORLD’s growth strategy and look forward to working with them and creating incredible value for the shareholders.”
Further updates to follow.
For more information contact:
1 (778)-784 7562
DRYWORLD is a premium performance sports brand offering innovative, superior quality apparel and gear for the athlete in all of us. We build purpose-driven products that give all athletes the edge. Engineered by athletes, proven by science.
Safe Harbor for Forward Looking Statements
This press release contains forward-looking statements and is subject to risks and uncertainties. All statements other than statements of historical fact or relating to present facts or current conditions included in this press release are forward-looking statements. Forward-looking statements give our current reasonable expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “should,” “can have,” “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events.
The forward-looking statements contained in this press release are based on reasonable assumptions we have made in light of our industry experience, perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. As you read and consider this press release you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (many of which are beyond our control) and assumptions. Although we believe that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect our actual operating and financial performance and cause our performance to differ materially from the performance anticipated in the forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove incorrect or change, our actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements.
Any forward-looking statement made by us in this press release speaks only as of the date of this press release. Factors or events that could cause our actual operating and financial performance to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law