BONITA SPRINGS, FL — (Marketwired) — 06/21/17 — Innovative Food Holdings, Inc. (OTCQB:IVFH) announced today that it has reached an agreement with its largest institutional investor in which 2.51 million warrants have been exchanged for 250,000 shares of the company’s common stock.
As a direct result of this transaction, potential dilutive securities of Innovative Food Holdings have been reduced by over 2.2 million shares.
Sam Klepfish, CEO of Innovative Food Holdings commented, “Given Innovative Food Holdings’ recent strong financial results and its unique position within the rapidly growing specialty food space we continue to believe that Innovative Food Holdings’ shares are significantly undervalued. Accordingly, we are extremely pleased to have been able to reduce potential share dilution at these price levels. Furthermore, we believe that this transaction is a key step towards streamlining our capital structure, increasing IVFH investor visibility and unlocking IVFH shareholder value.”
About Innovative Food Holdings
Innovative Food Holdings’ (OTCQB: IVFH) industry-leading specialty food platforms in the foodservice and consumer markets provide chefs and consumers direct access to the highest quality specialty food products across the United States.
In the direct-to-chef foodservice market, Innovative Food Holdings’ automated direct-to-chef platform offers efficient, cost effective, and transparent direct sourcing and distribution of over 7,000 specialty food products delivered daily to thousands of chefs nationwide.
This release contains certain forward-looking statements and information relating to Innovative Food Holdings, Inc. (the “Company”) that are based on the current beliefs of the Company’s management, as well as assumptions made by, and information currently available to, the Company. Such statements reflect the current views of the Company with respect to future events and are subject to certain assumptions, including those described in this release. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as “should,” “could,” “anticipate,” “believe,” “intend,” “plan,” “might,” “potentially” or “expect.” The Company does not intend to update these forward-looking statements.
Investor Relations Analyst