WARRANT REDEMPTION AGREEMENT
Exhibit
99.2 Warrant Redemption Agreement
THIS
WARRANT REDEMPTION AGREEMENT
(the
“Agreement”) is made and entered into as of the 2nd day of July, 2007 by and
between BRAVO!
BRANDS INC. f/k/a/ BRAVO! FOODS INTERNATIONAL CORP.,
a
Delaware corporation (“Bravo”), and COCA-COLA
ENTERPRISES INC.,
a
Delaware corporation (“CCE”).
WHEREAS,
Bravo
and CCE are parties to a Master Distribution Agreement dated August 30, 2005
(the “Distribution Agreement”);
WHEREAS,
in
connection with the execution of the Distribution Agreement, Bravo issued to
CCE
a Common Stock Purchase Warrant (No. 2005 B AUG-001) that gave CCE the right
to
purchase up to 30,000,000 shares of Bravo’s common stock at a per share purchase
price of $0.36 (the “Warrant”);
WHEREAS,
Bravo
and CCE desire to terminate the Distribution Agreement and, as part of such
termination, to cancel the Warrant through redemption;
NOW,
THEREFORE,
for
$1.00 and other good and valuable consideration, the receipt and legal
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:
1. Redemption
of the Warrant.
CCE
hereby agrees to surrender the Warrant in full redemption to Bravo, and Bravo
does hereby redeem the Warrant. CCE does hereby irrevocably constitute and
appoint Bravo’s officers as attorneys-in-fact, with full power of substitution,
for the limited purpose of effecting the redemption.
IN
WITNESS WHEREOF,
the
parties hereto have executed this Agreement to be effective as of the date
first
above written.
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BRAVO!
FOODS INTERNATIONAL CORP.
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COCA-COLA
ENTERPRISES INC.
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