TEMECULA, Calif., Oct. 23, 2003 (PRIMEZONE) -- V-Net Beverage, Inc. (Pink Sheets:VNTB) today announced that Larry Twombly, president of Buzzy's Coffee, has completed negotiations with Livingstone Chocolate to package Buzzy's Coffee drinks in cans enabling sales of the products through vending machines. The terms of the agreement call for up to 150,000 cases per year of 12 oz. coffee drinks and up to 100,000 cases per year in 8.3 oz. size. Potential revenues of this initial order are in excess of $3 million.
V-Net Beverage, Inc. had earlier announced that Buzzy's Coffee would be featured at Calleo Gourmet Coffee Stores located inside of Wal-Mart Stores (NYSE:WMT), the first being in Plano, Texas this year.
"V-Net's continued access to growing distribution markets, is a perfect example of how we can bring high profit growth to our family of beverage companies," stated Michael N. Brette, CEO. "We are extremely confident in our acquisition strategy of merging specialty beverage companies, like Buzzy's Coffee, due to our ability to open new avenues of distribution similar to Calleo Gourmet Coffee and Livingstone Chocolate."
V-Net Beverage, Inc. is a niche beverage company that produces a variety of specialty drinks under its own brands as well as private label. The Company owns 100% interests in Buzzy's Coffee and Palm Springs Bottling.
Disclaimer: The Company relies upon the safe Harbor Laws of 1993, 1934, and 1995 for all public news releases Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.
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