Splash Beverage Group Secures Funding for Expanded Distribution
Splash Beverage Group (NYSE American: SBEV) announced a common stock offering expected to generate approximately $3.1 million in gross proceeds. This funding aims to bolster inventory levels to meet growing distribution demands following recent agreements with major retailers including Target and 7-11. CEO Robert Nistico emphasized the importance of maintaining stock levels during this critical growth phase as the company expands its retail presence and distribution networks.
- The capital raise of approximately $3.1 million is aimed at increasing inventory to meet rising demand.
- Recent distribution agreements with notable retailers such as Target and Circle K enhance market presence.
- None.
Fort Lauderdale, FL, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Splash Beverage Group, Inc. (NYSE American: SBEV) (the “Company” or “Splash Beverage Group”), a portfolio company of leading beverage brands, earlier today announced an offering of common stock for aggregate gross proceeds of approximately
Robert Nistico, Splash Beverage Group’s Chairman and CEO, commented, “This capital raise is to ensure we have sufficient inventory to fill orders and support the significant gains in distribution and chain retail authorizations for all our brands. We have announced numerous distribution and retail chain agreements recently, and it is critical to have sufficient inventory to support this activity, Additionally, it is imperative we do not run out of stock at this inflection point as our brands accelerate at retail, and we continue to add chains retail business … this is a very exciting time for us”
As previously announced, the Company has recently entered into distribution and retail chain agreements with Target department stores, am/pm, Circle K, 7-11, UNFI, Carey Distributors, Wantz Distribution, Central Distribution, Buck Distributing Lohr Distributing, and others.
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About Splash Beverage Group
Splash Beverage Group, an innovator in the beverage industry, owns a growing portfolio of alcoholic and non-alcoholic beverage brands including Copa di Vino wine by the glass, SALT flavored tequilas, Pulpoloco sangria, and TapouT performance hydration and recovery drink. Splash’s strategy is to rapidly develop early-stage brands already in its portfolio as well as acquire and then accelerate brands that have high visibility or are innovators in their categories. Led by a management team that has built and managed some of the top brands in the beverage industry and led sales from product launch into the billions, Splash is rapidly expanding its brand portfolio and global distribution.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, the risks disclosed in the Company’s Annual Report on Form 10-K filed with the SEC on March 31, 2022, and in the Company’s other filings with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.
Contact:
Splash Beverage Group
Info@SplashBeverageGroup.com
954-745-5815
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