PRH Vitacube Systems Hld

DENVER, Nov. 28 /PRNewswire-FirstCall/ -- VitaCube Systems Holdings, Inc., d/b/a/ XELR8 Holdings, Inc. (AMEX:PRH), a provider of functional foods, beverages and nutritional supplements, today announced that it has closed on a bridge financing, raising a total of $250,000 in gross proceeds from an institutional investor. Specific details related to the funding transactions may be found in an associated Form 8-K filed with the Securities and Exchange Commission today. (Logo: http://www.newscom.com/cgi-bin/prnh/20050926/FLM015LOGO) John Pougnet, CEO/CFO of XELR8 Holdings, noted, "We are very pleased to have secured this debt funding, which helps to strengthen our cash position while we work towards finalizing our longer term financing strategy." The Company has previously reported that it is currently evaluating both debt and equity financing alternatives to secure up to $3 million in capital to fund operations and planned growth initiatives. XELR8 also announced that the number of direct selling professionals in its national distribution network increased to 3,108 as of the end of October, representing a net gain of 23 distributors since the end of September. About XELR8 Holdings, Inc. VitaCube Systems Holdings, Inc., d/b/a/ XELR8 Holdings, Inc., is a provider of nutritional foods and beverages designed to help enhance physical health and overall performance. XELR8 has developed a comprehensive line of nutritional supplements and functional foods designed in systems that are easy to take, simple to understand, and conveniently fit within a lifestyle. XELR8's commitment to quality, science, and research has earned them a loyal following of over 350 world-class athletes and an elite list of endorsers, such as five-time Cy Young Award Winner Randy Johnson; Super Bowl Champions Mike Alstott, Lawyer Milloy and Head Coach Mike Shanahan; professional football superstar Cadillac Williams; Olympians Briana Scurry and Caroline Lalive; Stanley Cup Winner Blake Sloan; and PGA Tour Professional Tom Pernice, Jr. XELR8 products are only available through independent distributors located throughout the nation. For more information about XELR8, please visit http://www.xelr8.com/. Forward-looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including prospects for XELR8's distribution network. Actual results may differ from those discussed in such forward-looking statements. These forward-looking statements include risks and uncertainties that include the Company's ability to attract and retain distributors; changes in demand for the Company's products; changes in the level of operating expenses; changes in general economic conditions that impact consumer behavior and spending; product supply; the availability, amount, and cost of capital for the Company; and the Company's use of such capital. More information about factors that potentially could affect the Company's financial results is included in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-KSB for the year ended December 31, 2005 and all subsequent filings. 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. Company Contacts: VitaCube Elite Financial d/b/a XELR8 Holdings, Inc. Communications Group, LLC John Pougnet, Dodi Handy, CEO/CFO President and CEO (303) 316-8577 (407) 585-1080 http://www.newscom.com/cgi-bin/prnh/20050926/FLM015LOGO http://photoarchive.ap.org/ DATASOURCE: VitaCube Systems Holdings, Inc. CONTACT: John Pougnet, CEO-CFO of VitaCube d-b-a XELR8 Holdings, Inc., +1-303-316-8577, or ; or Dodi Handy, President and CEO of Elite Financial Communications Group, LLC, +1-407-585-1080, or Web site: http://www.xelr8.com/

Copyright