SUNRISE, Fla., April 27, 2016 (GLOBE NEWSWIRE) — South Beach Spirits, Inc. (OTC PINK:SBES) (“South Beach Spirits” or the “Company”), an alcoholic spirits development, marketing, and distribution holding company, has issued the following update on the company’s business and objectives going forward in 2016.
Striped Pig Distillery LOI
On March 29, 2016, South Beach and Striped Pig Distillery announced they had entered into a Letter of Intent for SBES to invest in Striped Pig Distillery. South Beach is well along in its Due Diligence process, while Striped Pig has received several purchase orders for contract bottling and has proceeded with required regulatory filings on behalf of those customers. Striped Pig will begin some of that processing work in early May.
Other Agreements
Advanced discussions are underway with two other companies that will be consistent with its theme to create a vertically integrated holding company.
Other Updates
The company is completing its audits for 2015.
About South Beach Spirits, Inc. (SBES)
South Beach Spirits, Inc. (SBES) is a Florida-based alcoholic spirits development, marketing, and distribution holding company.
Disclaimer/Safe Harbor: This South Beach Spirits, Inc. news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include failure to meet schedule or performance requirements of the Company’s contracts, the Company’s ability to raise sufficient development and working capital, the Company’s liquidity position, the Company’s ability to obtain new contracts, the emergence of competitors with greater financial resources, and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur as planned or at all.
CONTACT: Contact: Investor/Media South Beach Spirits, Inc. - Investor Relations Email: [email protected] Toll-Free: (888) 706-0099