Italian Food & Beverage Corp. Announces Completion of Reverse Merger

PLAINVIEW, NY--(Marketwired - May 20, 2015) - Italian Food & Beverage Corp. (OTC PINK: IFBC), formerly known as Blast Applications, Inc. (the "Company"), has completed a reverse merger on May 15, 2015 with Italian Food & Beverage Corp., a Nevada corporation ("IFBC Nevada"), in which the latter became a wholly-owned subsidiary of the Company (the "Reverse Merger"). IFBC Nevada is the parent of Wine & Food Trading LLC, a California corporation, which is, in turn, the parent of Just Wine S.P.A., an Italian corporation. Just Wine S.P.A. owns majority stakes in Just Wine Far East Pte Ltd, a Singapore corporation, Just Wine Gmbh, an Austrian corporation and Just Wine Kft, a Hungarian corporation. Because of this Reverse Merger, the Company, through its direct and indirect subsidiaries, is now in the business of manufacturing, exporting, importing, selling and distributing wine and various food products. The Company and its subsidiaries have established headquarters, offices and warehouses in several countries throughout the world, including Italy, Singapore, Austria, and Hungary.

Also on May 15, 2015, Mr. Candido Luzzi resigned as Chief Financial Officer of the Company and the Board of Directors appointed the following officers of the Company:

Mr Luzzi will continue as Chief Executive Officer of the Company.

"This Reverse Merger will enable us to expand our reach throughout the US and the rest of the world through greater access to capital, the availability of a focused and superbly competent management team, and the attainment of a critical mass of revenues necessary to achieve our goal of enhancing shareholder value. As CEO, I could not be more gratified to serve alongside our President, Lorenzo Buffi, a successful entrepreneur and seasoned executive, and the rest of our fine management team. Together we will shepherd the Company to new heights, with the full intention of enriching our loyal shareholders," said Mr. Luzzi.

About Italian Food & Beverage Corp. (formerly Blast Applications, Inc.)

Italian Food & Beverage Corp. (formerly Blast Applications, Inc.) was a marketer and developer of applications for Android, iPhone®, Twitter® Facebook® and Nokia to monetize a web surfer's dedication to social media sites through direct advertising programs tied to the Company's tools, applications and website -- www.blastapplications.com. Through its acquisition of Italian Food & Beverage Corp., a Nevada corporation and the latter's subsidiaries, it is now in the business of manufacturing, exporting, importing, selling and distributing wine and various food products.

Its website is now http://ifbcorp.com/

Forward Looking Statements

This release contains "forward-looking statements" and information provided by Italian Food & Beverage Corp. (formerly Blast Applications, Inc.), such as online, printed documents, publications or information available via its website. It may contain certain forward-looking statements that involve risks, uncertainties, assumptions and other factors, which, if they do not materialize or prove correct, could cause the Company's results to differ materially from historical results, or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates," and similar words. These statements may also include plans, strategies and objectives of management for future operations; any statements regarding proposed new products, services or developments; any statements regarding future economic conditions or performance; statements of belief; and any statements of assumptions underlying any of the foregoing. There can be no assurance that the negotiations being considered by the letter of intent will be completed.