NEW YORK, Oct. 27, 2011 /PRNewswire/ -- Mojo Ventures, Inc., (OTCBB: MOJO) ("Mojo" or the "Company") today announced that it has named Glenn Simpson as Chief Executive Officer and President. Mr. Simpson, a beverage industry veteran with over nine years of experience, joins Mojo following the company's completion of its recently announced corporate restructuring. The company will focus its activities on the continued development of its Dispensing Cap Technology and its Pinch™ low calorie, natural and organic sweetener, as well as other marketing and branding opportunities in the "better for you beverage" universe.
Mr. Simpson was Vice President and CFO of COCA-COLA BOTTLERS Uzbekistan, a Joint Venture with The Coca-Cola Company. His primary responsibilities included corporate strategy and supervision of bottling and distribution operations. Accomplishments included growing revenues from a base at $4 million to over $160 million. The operation Mr. Simpson led was awarded "Bottler of the Year" by The Coca-Cola Company for two consecutive years based on product quality and revenue growth.
"This is an exciting time for Mojo," said Mr. Simpson. "Consumers are sending a clear message to the beverage industry that they want healthier options without sacrificing taste, and our technology provides great taste with fewer calories, making being healthy easier to achieve. I'm confident that my extensive experience in this space makes me the ideal executive to assist Mojo as it navigates its way to accelerated growth. In addition, I look forward to contributing to the success of Mojo's cap dispenser technology and the development of the company's all-natural, organic brands."
Mr. Simpson is a Certified Public Accountant and holds an MBA from Columbia University School of Business in New York.In its corporate restructuring, Mojo spun off its other products in development to the former stockholders of Mojo's operating subsidiary, Specialty Beverage and Supplement, Inc. ("SBSI"). Mojo acquired SBSI in May 2011 in a reverse merger transaction. SBSI has assigned the Dispensing Cap and Pinch™ assets, including all related intellectual property (patent pending and trademarks), to a new wholly owned subsidiary of Mojo, Mojo Organics, Inc., and Mojo has transferred all of the shares of SBSI to pre-reverse-merger stockholders of SBSI in exchange for their surrender of substantially all of their shares of Mojo stock. SBSI will retain all of its other assets and all liabilities, including the Company's principal office and distribution facilities in Holbrook, New York, as well as Mojo's other subsidiary, Graphic Gorilla LLC. About Mojo Ventures, Inc. Based in New York, Mojo Ventures, Inc. engages in the production, distribution, and marketing of natural and organic beverages. The company's core objective is to promote a healthy and affordable lifestyle for children and adults alike. Mojo has developed a patent-pending bottle cap dispenser that adds nutrients and flavors to beverages at the time of consumption, a technology that ensures full potency of the nutrients. It can also be customized for countless co-branding and segments. Mojo has also developed Pinch™, an organic sweetener which is a replacement for natural and added sugar in beverages, resulting in a low calorie, healthy beverage. Mojo believes that it is well positioned for rapid growth in the fast moving consumer goods market. Forward-Looking Statements Certain statements in this news release are forward-looking statements. These statements are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "proposes", "may", "could", "should", "anticipates", "estimates", "likely", "possible", "potential", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information and assumptions of management. There can be no assurance that the Dispensing Cap Technology and Pinch™ sweetener will be successfully developed and marketed. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company, including, but not limited to, the Company's ability to establish the technical and managerial infrastructure, and to raise the required capital, to successfully develop and market its planned products, as well as future economic conditions and competition. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission. The Company disclaims any obligation to update publicly any such forward-looking information, whether as a result of new information, future events or otherwise, other than as expressly required by applicable securities laws. SOURCE Mojo Ventures, Inc.
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