EARI Beverage Group applies for Name Change to "The Original New York Seltzer Beverage Corporation"

Rhea-AI Summary

Entertainment Arts Research (OTC: EARI) announced on March 9, 2023, its application to FINRA to change its name to The Original New York Seltzer Beverage Corporation. This change aims to align the corporate identity with its core business in the growing global craft soda market, valued at USD 651.3 million in 2021, with a projected CAGR of 5.04%. The name change follows the acquisition of the Original New York Seltzer brand and a bottling plant, which now constitutes the majority of the company's revenue. EARI anticipates the name change to be effective within two months, pending FINRA approval.

Positive

• Application for name change to better align corporate identity with core business.
• Acquisition of the Original New York Seltzer brand has increased revenue potential.
• Presence in a growing craft soda market expected to reach USD 651.3 million.

Negative

• None.

CHARLOTTE, N.C., March 9, 2023 /PRNewswire/ -- Entertainment Arts Research (OTC: EARI), a diversified beverage and media group, has announced today that it has applied to FINRA to change its name to "The Original New York Seltzer Beverage Corporation", better aligning the corporate identity with its core business and iconic brand, operating in the global craft soda market valued at USD 651.3 million in 2021 and is expected to grow at a CAGR of 5.04% during the forecast period. The total Soft Drink segment in the United States is projected to grow by 2.90% (2023-2027) resulting in a market volume of US$367.90bn in 2027.

"This name change firmly communicates our focus on the craft soda market segment and will help us better connect with the over 40 million loyal consumers and shareholders of our flagship brand. After the acquisition of the Original New York Seltzer brand and Los Angeles based bottling plant last July, which now represents the majority of the groups revenue, the name change makes perfect sense," "We are confident that this is yet another positive step as we continue to execute on our growth strategy and our plan to up list from OTC Markets to Nasdaq as soon as possible." said Bernard Rubin, President and CEO of The EARI Beverage Group.

The Company expects the name change application to become effective within the next two months, which is subject to approval by FINRA.

ABOUT EARI:

EARI Beverages is a diversified conglomerate of beverage brands with owned media and marketing assets, focused on specific market segments of the beverage industry, operating in the craft beer, craft soda, and craft spirit market segments. The flagship brand is the iconic Original New York Seltzer craft soda, which is bottled by its wholly owned bottling facility, LA Bottleworks Inc. The group has acquired and built distribution across 170 independent distributors and has a footprint in 10,000 retailers. The company bottles its own products and uses several third-party packers and service providers. The most recent acquisition of LA Bottleworks Inc. has provided the company with the capability to produce its own products, such as the Original New York Seltzer brand. The company also owns a craft brewer, Bell City Brewing in Canada and Perfectomundo tequila. For more information on Perfectomundo, please click here for the corporate video.

We also encourage our shareholders to visit www.earigroup.com and our official Twitter account for updates: https://twitter.com/EARI_Bev_Group

Company Websites

www.earigroup.com www.betta4ubrands.com www.drinkfury.com www.whiterhinovodka.com www.neosuperwater.com www.foodytv.com  http://zegen.com.ph/ https://bellcitybrewing.com/ https://laketahoedistilling.com/ https://4elementalspirits.com/ https://perfectomundotequila.com/

Safe Harbor Disclosure

This press release contains forward-looking statements that are made under 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 expectations regarding future results of operations, economic performance, and financial condition. 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 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. EARI competes in a rapidly growing and transforming industry, and risk factors, including those disclosed in the Company's filings with the Securities and Exchange Commission, might affect the Company's operations. Unless required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements.

View original content:https://www.prnewswire.com/news-releases/eari-beverage-group-applies-for-name-change-to-the-original-new-york-seltzer-beverage-corporation-301768109.html

SOURCE Entertainment Arts Research, Inc.

FAQ

What is the new name for EARI after the name change?

EARI is applying to change its name to The Original New York Seltzer Beverage Corporation.

When was the name change announced for EARI?

The name change was announced on March 9, 2023.

What market does EARI operate in?

EARI operates in the global craft soda market, which was valued at USD 651.3 million in 2021.

What is the expected growth rate of the craft soda market?

The craft soda market is expected to grow at a CAGR of 5.04%.

How does the name change impact EARI's revenue?

The name change aims to enhance EARI's position in the market following the acquisition of the Original New York Seltzer brand, which now represents the majority of its revenue.