LAS VEGAS, NV, May 16, 2018 (GLOBE NEWSWIRE) -- International Spirits and Beverage Group Inc. (a Nevada Corporation) (OTCPK:ISBG) is excited to announce to its loyal shareholders that it has finalized its 2016 and 2017 audits as promised. This arduous task took longer than anticipated at a much higher cost than initially thought but puts ISBG on a path for success in 2018. The completion of the audit will allow us to attract capital at much more favorable rates than in the past. It also gave us the leverage we needed to push the maturity of most of our outstanding convertible debt into 2019 with options to repurchase it at a discount prior to conversion and we had 20k in debt forgiven over that last couple weeks.
Alonzo Pierce, Chairman of ISBG, said, “It has been my goal from the beginning to be a world class producer of spirits that consumers love and demand. We had a very successful proof of concept with our production of Besado Platinum premium infused Tequila at Caribbean Distillers in Auburndale, Florida. This gave us the ability to negotiate favorable terms with our suppliers in Mexico to launch our Reposado and Anejo products direct from Mexican distillers as required by law. We are currently building a plan utilizing some of our previous funding partners that stuck by us through the tough times to solidify our financial position without the use of additional convertible debt. We believe this will provide us with the ability to focus on our business without the additional pressures that that debt creates.”
International Spirits and Beverage Group, Inc. has also secured distribution in Georgia, a brand building market, for Besado. We believe that this expansion along with the recent acquisition of RWB “America’s Vodka” will be the catalyst to improved performance within our supply chain networks and also give us additional security with compliance and regulatory agencies. Additional experienced sales staff, larger national accounts, and reliable distillers and bottlers will help set us on a course for long-term success. We will continue our promotional initiatives that we launched in 2017 and will be making many new exciting announcements over the coming months that will drive both top line revenues and bottom line profits.
“I will lead the company forward with renewed vigor and will be announcing additional advisors and board members in the near future. These announcements will accompany our additional plans for potential line extensions or joint venture projects. The RTD market is exploding and we have been testing several different potential formulations that may be announced over the next quarters,” continued Pierce.
About ISBG: ISBG is a Nevada-based alcoholic beverage company specializing in the development, marketing and global sales of innovative wine and spirits brands. The Company's expertise lies in the strategic development and aggressive early growth of its brands and establishing these brands as viable and profitable. ISBG intends to build its own brands while seeking out individual acquisition candidates to continue to develop its pipeline of new brands into the ISBG portfolio. For more information visit: www.isbg.global
Forward Looking Statements: This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could", "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets (www.otcmarkets.com).