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8-K - CURRENT REPORT - NewAge, Inc. | nbev_8k.htm |
Exhibit 99.1
Denver, Colorado
|
NEW AGE BEVERAGES CORPORATION APPOINTS JOHN C. PRICE
AS NEW CHIEF FINANCIAL AND ADMINISTRATIVE OFFICER
DENVER, COLORADO, AUGUST 15, 2018 – NEW AGE BEVERAGES
CORPORATION (NASDAQ: NBEV), the
Colorado-based organic and natural healthy functional beverage
company intending to become the world’s leading healthy
beverage company, today announced that John Price is joining the
healthy beverage leader as its new Chief Financial and
Administrative Officer, effective August 15, 2018. Price joins New
Age from Alliance MMA, where he was President and Chief Financial
Officer. Price brings with him an extensive background in corporate
finance, financial planning and analysis, M&A, treasury,
international tax, strategic planning, risk management, treasury,
human resources and information technology.
Brent Willis, Chief Executive Officer of New Age Beverages
commented, “We are pleased to welcome John to our team and
believe he will have an immediate impact in both financial and
overall leadership at New Age. He joins us at an ideal time just
after establishing our new line of credit, and will lead our focus
on cost controls, deployment of capital to generate the highest
return for shareholders, and optimization of the balance sheet and
overall business to generate superior, sustainable, and profitable
organic growth.”
Price brings more than 20 years of finance and administration
experience to his role at New Age. He began his career at Ernst
& Young as a CPA, followed by finance positions in the Silicon
Valley at Tessera Technologies, GCT Semiconductor, and Opera
Software. More recently Price served as CFO of Denver-based
MusclePharm and Alliance MMA. Price holds a Bachelor of Science
from the Pennsylvania State University.
“I can’t imagine a more opportune time to join New
Age,” Price said. “Brent and his team are making
history with the New Age healthy beverage platform, and I am
excited to be part of the early stages of the such a market
transformative company. Like many small companies, New Age recently
faced some short term financing roadblocks. Now solved, I believe
their potential to deliver industry leading growth and
profitability is unobstructed.”
Price will lead New Age’s finance and accounting operations,
human resources, investor relations, and information technology and
will report to CEO, Brent Willis. Price will succeed Chuck Ence,
who assumed the role of CFO following the acquisition of XingTea
and served as CFO at New Age since 2016. Ence will remain with New
Age and report to Price as Vice President of Finance and Corporate
Controller.
Denver, Colorado
|
About New
Age Beverages Corporation (NASDAQ: NBEV)
New Age Beverages Corporation is a Colorado-based healthy
functional beverage company that was created in 2016 and 2017 with
the combination of Búcha Live Kombucha®, XingTea®,
Coco-Libre®, and Marley®, to create a one-stop-shop
solution for retailers and distributors providing healthier
beverages in the disruptive growth segments of the $1
trillion-dollar non-alcoholic beverage industry. In that period,
New Age has become the 56th
largest beverage company, one of the
largest healthy beverage companies, and the fastest growing in the
world over the past two years. New Age competes Ready to Drink
(RTD) Tea, RTD Coffee, Kombucha, Energy Drinks, Relaxation Drinks,
Coconut Waters, Functional Waters, and Rehydration Beverages with
the brands Búcha Live Kombucha, Xing, Marley, Coco-Libre,
Aspen Pure, and ‘nhanced. The Company’s brands are sold
across all 50 states within the US and in more than 50 countries
internationally across all channels via direct and store door
distribution systems. The company operates the websites
www.newagebev.com,
www.newagehealth.us,
www.mybucha.com,
www.xingtea.com,
www.aspenpure.com,
www.drinkmarley.com,
www.cocolibre.com,
and https://shop.newagebev.com.
New Age has exclusively partnered with the world's 5th largest
water charity, WATERisLIFE, to end the world water crisis with the
most innovative technologies available. Donate at WATERisLIFE.com
to help us #EnditToday.
Safe Harbor Disclosure
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are any statement reflecting
management's current expectations regarding future results of
operations, economic performance, financial condition and
achievements of the Company including statements regarding New Age
Beverage’s expectation to see continued growth. The
forward-looking statements are based on the assumption that
operating performance and results will continue in line with
historical results. Management believes these assumptions to be
reasonable but there is no assurance that they will prove to be
accurate. Forward-looking statements, specifically those concerning
future performance are subject to certain risks and uncertainties,
and actual results may differ materially. New Age Beverages
competes in a rapidly growing and transforming industry, and other
factors disclosed in the Company's filings with the Securities and
Exchange Commission might affect the Company’s operations.
Unless required by applicable law, NBEV undertakes no obligation to
update or revise any forward-looking statements.
For investor inquiries about New Age Beverages
Corporation please
contact:
Cody Slach, Liolios Group,
Inc.
Investor Relations Counsel
Tel 949-574-3860
NBEV@Liolios.com
New Age Beverages Corporation
John
Price, CFO
303-289-8655
JPrice@NewAgeBev.com