Attached files
Exhibit 99.2
SOUTH BEACH SPIRITS ENTERS LETTER OF INTENT TO ACQUIRE CONTROLLING INTEREST IN
STRIPED PIG DISTILLERY, LLC
SUNRISE, FL -- (Marketwired) -- 12/03/15 -- South Beach Spirits, Inc.(OTC PINK:
SBES) today announced the signing of a letter of intent to purchase a
controlling equity interest in Striped Pig Distillery, LLC ("STRIPED PIG") in
exchange for shares of SBES. In addition, the letter of intent contemplates SBES
making a cash working capital contribution to Striped Pig. Striped Pig, based in
North Charleston, South Carolina is an artisanal producer of high quality rum
products, gin, vodka, and moonshine brands under their name, and also provides
contract manufacturing services for a number of other brands. Their own line of
products, distilled from locally harvested corn and sugarcane, are geared to the
premium market. Their recent aggressive growth in contract manufacturing drew
the interest of SBES as a vehicle for additional SBES investment opportunities
now under consideration.
Vincent Prince, CFO of South Beach Spirits Inc., stated, "This acquisition is
the first of a series of planned spirits industry investments by SBES that are
planned in order to build upon the vertical integration and supply chain control
that synchronizes, and unifies additional opportunities now under consideration.
We all look forward to executing final agreements to complete this very
strategic transaction over the next few weeks."
The closing of the transaction is subject to the completion of due diligence,
execution of definitive transaction documents between the parties, and
preparation of audited and unaudited financial statements for Striped Pig
Distillery.
ABOUT SBES
South Beach Spirits, Inc. (SBES) is a Florida-based alcoholic beverage
development, marketing, and distribution holding company.
DISCLAIMER/SAFE HARBOR
This press 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.
Phone:800-670-3879 FREE
Email: Email Contact
Source: South Beach Spirits, Inc