1812 Brewing Company Retires 3.4 billion Shares of Outstanding Common Stock
1812 Brewing Company (KEGS) announced the retirement of 3.4 billion shares of common stock, effective December 28, 2022. This move decreases outstanding shares and follows a year of significant operational milestones, including:
- Full control over brewing and packaging.
- Launch of award-winning beers.
- Engagement of an investment bank for potential acquisitions.
The company aims to double revenues through acquisitions in 2023. KEGS transitions to direct-to-consumer sales in 45 states, enhancing market presence.
- Reduced outstanding shares by 3.4 billion, improving shareholder equity.
- Control over brewing and packaging operations enhances production efficiency.
- Multiple award wins for beers, enhancing brand recognition.
- Plans for acquisition that could significantly increase revenues.
- None.
-- CEO Reviews 2022 Milestones & Looks Ahead in Update to Shareholders --
WATERTOWN, NY / ACCESSWIRE / January 3, 2023 / 1812 BREWING COMPANY, INC. (OTC PINK:KEGS) (the "Company" or "KEGS") is pleased to announce Chairman and CEO Tom Scozzafava has exchanged his shares of common stock for a Company note, and 3.4 billion shares of common stock have been returned to the transfer agent and taken back into the Company's treasury. The transaction, effective December 28, 2022, results in a decrease of outstanding shares by 3.4 billion shares and leaves the Company with fewer shares outstanding on December 31, 2022, than it had as of January 1, 2022.
Chairman and CEO, Tom Scozzafava stated, "This net reduction in common stock outstanding over the year came at the end of the most significant twelve-month period in the Company's history, during which the Company achieved numerous operational milestones. The following is a list of some of accomplishments over the past twelve months:
February - 1812 Brewing Company takes control of
- February - 1812 Brewing Company re-launches top-selling War of 1812 Amber Ale in Bottles. KEGS bottled over 1,800 liters of its top-selling War of 1812 Amber Ale, which sold out in two days. It also released the product in its newly "refreshed" packaging.
- March - 1812 Brewing Company reduces Authorized Shares by
50% to 10 billion shares. - April - War of 1812 Amber earns Bronze Medal in the 2022 New York International Beer Competition held in Rockefeller Center in New York City, which included over 700 breweries from over 15 countries.
- April - 1812 Brewing Company, Inc. engages investment bank Tully & Holland Incorporated to assist in KEGS' pursuit of investment and acquisition targets.
- June - 1812 Brewing Company eliminates
$300,000 of Convertible Debentures by using proceeds from its fixed-price Regulation A offering. - August - War of 1812 Amber Ale wins U.S. Gold Medal in 2022 World Beer Awards and was the United States' Winner in the Amber category and competed against other winners from around the world the following month in London, England.
- October - 1812 Brewing Company Commissions Premier Stainless 3-Vessel 30-barrel brewhouse acquired in Milwaukee, WI in 2020. The Premier Stainless system is designed to produce up to approximately 1,250 case-equivalents of beer per brew.
- October - 1812 Brewing Company introduces Thousand Islands IPA to be offered in 12-ounce bottles as well as 16-ounce cans.
- November - War of 1812 Amber Ale brings home Silver Medal in the International Brewski Awards that "recognizes brands with extraordinary quality and integrity."
- November - 1812 Brewing Company joins Watertown Wolves sponsorship team, which includes production of newly created Wolves Den Cream Ale, which shall be made available at all Wolves homes games and select retail outlets.
- November - 1812 Brewing Company wins spot in 2022 New York State Craft Brewers Festival - Syracuse, which included New York's top microbreweries at the historic Landmark Theater in downtown Syracuse
- November - Gold Medal awarded to War of 1812 Amber Ale at 23rd Annual Great International Beer, Cider, Mead & Sake Competition in the "American Amber" category.
- December - 1812 Brewing Company's beers to become available Direct-To-Consumer E-Commerce in 45 states plus Washington DC with TapRm.com E-Commerce Agreement: https://1812-brewing.taprm.com/all-products ... (Orders shipping now! Go order some!)
- December - 1812 Brewing Company commissions Wild Goose Filling, Ska Fabricating and Pack Leader Canning Line operating at about 3,000 cans per hour. Canning line to pave way into Canadian market.
- December - KEGS reduces shares outstanding by 3.4 billion shares of common stock resulting in a year-over-year net reduction of common stock by approximately 167 million shares.
As the Company looks forward into 2023, we hope to consummate at least one acquisition within the first six months contingent upon obtaining a top tier financing. Of the two companies with which we are in current discussions, one would immediately more than double the Company's annual revenues, while the other would be a 11x-to-12x increase in revenues.
I look forward to updating you in the future as 1812 Brewing Company achieves even more of its goals and hits even more milestones.
About 1812 Brewing Company ("KEGS or the "Company"):
KEGS is an operator of and investor in companies in the craft beer industry. The Company seeks to build a nation-wide network of craft breweries to develop and foster respective brand growth at the local, regional, and national level. KEGS looks to build a network wherein certain economies of scale can be shared across it such as production, distribution footprint expansion, inter-member contract brewing, new product development, sharing of best brewery practices and scale logistics and transportation. The network is to be built through investment by 1812 Brewing Company while maintaining the members' respective local and regional uniqueness, brand autonomy and direct involvement with its consumers. The Company seeks to be an "incubator" of growth for its holdings in the industry.
The Company's current holding, 1812 Brewing Co., produces award-winning beers such as War of 1812 Amber Ale ("1812 Amber Ale"), 1812 Light, Hazy Oasis Pale Ale, Thousand Islands IPA, Malicious Intent XX IPA, Route 11 Lager, Railroad Red Ale, Helles Bells Pilsner, St. Stephens Stout, Third Rail Porter, Featherhammer Maibock.
For more updates follow us on our Website, Facebook, Twitter, Instagram and Linkedin.
https://www.1812ale.com/
https://www.facebook.com/1812brewingcompany/
https://www.instagram.com/1812brewingcompany/
https://twitter.com/1812Brewing
https://www.linkedin.com/company/1812brewingcompany/
Contact Name: Tom Scozzafava
Contact Phone Number: 315-788-1812
Contact Email Address: contact@1812ale.com
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
SOURCE: 1812 Brewing Company Inc.
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FAQ
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