DENVER, Jun 03, 2004 (PRIMEZONE via COMTEX) -- VitaCube Systems Holdings, Inc. (VCBE) announced today that it has appointed Anthony DiGiandomenico to its Board of Directors effective immediately.
Anthony DiGiandomenico co-founded MDB Capital Group LLC ("MDB Capital") in 1997. Mr. DiGiandomenico focuses on corporate finance and capital formation for growth-oriented companies and has participated in all areas of corporate finance including private capital, public offerings, PIPE financing, management consulting and strategic planning, and mergers and acquisitions. Mr. DiGiandomenico has also worked on a wide range of transactions for growth-oriented companies. Mr. DiGiandomenico currently serves on the Board of Orion Acquisition Corp. II.
MDB Capital acted as the Company's placement agent and investment banker in connection with the Company's recently completed $2,500,000 private placement financing. MDB received no cash consideration, but received reimbursement of its actual out of pocket costs and a warrant to purchase shares of common stock at the same price as the private placement shares
"I am pleased to bring my experience in working with and assisting public network marketing companies to VitaCube. I feel VitaCube is well positioned to become a leader in this industry," said Anthony.
Prior to forming MDB Capital, Mr. DiGiandomenico served as President and CEO of the DiGian Company, a real estate development company that has financed real estate projects in excess of $100 million. Mr. DiGiandomenico holds a Bachelors of Science Degree in Finance from the University of Colorado and a MBA from the Haas School of Business at the University of California, Berkeley.
"This appointment to our Board of Directors is very important for the Company," said Sanford Greenberg, CEO of VitaCube. "Anthony DiGiandomenico will be instrumental in our future success as a public company and I am confident that his expertise will take our business to a much higher level."
VitaCube Systems Holdings, Inc. is a provider of high quality meal replacement powder and premium nutritional dietary supplements. In April, the Company had its official launch and began selling its products through its wholly owned multi-level marketing subsidiary, VitaCube Network, Inc. VitaCube products are not sold in grocery or mass-market retail stores.
The Company's commitment to product integrity and the health needs of its customers has earned VitaCube Systems a loyal following of over 350 world-class athletes that include:
-- Two Time World Champion and Denver Broncos head coach, Mike Shanahan
-- 2001 World Series Co-MVP Curt Schilling, pitcher for the Boston Red Sox
-- 4-time Cy Young Award Winner, 17th pitcher in Major League history to spin a perfect game, Randy Johnson, Arizona Diamondbacks.
-- Tampa Bay All-Pro quarterback, Brian Griese
-- 2002 Olympic snowboard bronze medallist J.J. Thomas
VitaCube's products and other information, including details on its network marketing division are described on the Company's website at www.vitacube.net.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including prospects for VitaCube's distribution network. Actual results may differ from those discussed in such forward-looking statements.
Certain statements in this release regarding the company's agreements are in accordance with the guidelines established by the Federal Trade Commission for endorsements in advertising.