Splash Beverage Group, Inc. - SBEV STOCK NEWS

Splash Beverage Group (NYSE American:SBEV) has announced progress in its capital raising efforts to expand market presence and support working capital. The company has secured $7.6 million through private placement of convertible notes and equity in a pending acquisition, updating its previous announcement from August 22, 2024. This funding will provide essential working capital for legacy businesses and enable the pursuit of a complementary acquisition.

CEO Robert Nistico stated that the company is under a Letter of Intent (LOI) with a complementary beverage company, which aligns with their vision. The acquisition target remains confidential but is unrelated to the previously announced Western Son acquisition. Nistico emphasized that this capital raise demonstrates investor confidence in the company's growth strategy and long-term potential.

Splash Beverage Group (NYSE American: SBEV) has announced the initial closing of its first tranche of a private placement for operating capital. The company has secured over $4 million in the first tranche, with approximately half already received and the remainder expected in the coming days. Documents for a second tranche of $4 million have been distributed, with about $3 million already executed. Notably, the company has retired a $2.4 million financing from last year, which is expected to alleviate downward pressure on the stock. Splash Beverage Group will host a conference call on August 22, 2024, at 4:00 pm ET to discuss these developments and answer questions from interested parties.

Splash Beverage Group (NYSE American: SBEV) has announced a conference call to discuss its 2024 Second Quarter Results and State of the Business Update on Thursday, August 22, 2024, at 4:00 pm ET. The call will feature the company's C-Suite team, including Robert Nistico (Chairman/CEO), Julius Ivancsits (CFO), and Bill Meissner (President/CMO).

Key topics to be addressed include:

• Q2'2024 Financial Results
• Distribution and Brand Strategy
• Capital Structure and Financing Update
• 2nd Half 2024/2025 Financial Outlook
• Merger & Acquisitions Update

Interested parties can join via phone or webcast, with a replay available until August 22, 2025.

Splash Beverage Group (NYSE American:SBEV) has secured statewide authorization for its Chocolate SALT Tequila from the Pennsylvania Liquor Control Board (PLCB). This achievement allows the product to be available in nearly 600 fine wine and spirits stores across Pennsylvania starting in September.

Chocolate SALT Tequila is a premium 100% Blue Agave Tequila produced in Jalisco, Mexico. It's an 80 proof / 40% ABV Tequila infused with rich mocha, dark chocolate, and subtle Himalayan Sea salt flavors. This authorization aligns with Splash Beverage Group's strategy to build a comprehensive distribution network and scale its brands nationally, facilitated by its new distributor relationship with Johnson Brothers in Pennsylvania.