LAS VEGAS, NV, July 17, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- International Spirits & Wellness Holdings, Inc. (OTCMKTS: ISBG) (“ISBG” or the “Company”), a top-tier brand incubator in the Global Wine & Spirits and CBD-Infused Products markets, is excited to announce that, based on the Company’s high level of transparency, Financial Industry Regulatory Authority, Inc. (“FINRA”) has approved the Company’s official name change to “International Spirits & Wellness Holdings, Inc.” (from “International Spirits & Beverage Group, Inc.”).
Click HERE to view the approval of the Company’s name change on the official FINRA website.
“With the dramatic rise of our Health and Wellness segment, and our thriving CBD products business, it was clearly time to bring our company name into alignment with our underlying narrative,” commented Terry Williams, ISBG CEO. “Our Spirits business remains on very solid footing. But we see our Wellness business as the more robust growth driver in the quarters ahead given the truly remarkable boom conditions currently prevailing in the CBD products space.”
Management believes that the name of a company is the first line of awareness for a current or prospective investor. And having that factor out of alignment with the rest of the narrative defining the company can be a serious impediment for representing the value of a share of ownership in that company. This is true under normal conditions, but it may be peculiarly true when a company has significant sales and operations in perhaps the defining boom of the current decade, but a corporate name that directly distracts from that idea.
As such, the Company believes that a name change was imperative given both the dramatic growth underway in its Health and Wellness segment, and continued strong signals demonstrated by published analyst research for the CBD marketplace overall.
Specifically, new projections from the Brightfield Group in its June report suggest, if anything, a further acceleration in the overall growth of the CBD space, and some suggestion that this acceleration is being driven by an increasingly tangible jump in mainstream consumer adoption of CBD-based products. Specifically, the report notes that 2019 will show a 700% jump relative to 2018 levels for all domestic sales of CBD-based products, with 2019 on pace to exceed $5 billion in total sales of products containing CBD given current data. In addition, according to the Brightfield Group researchers, much of this jump will be due to sales in mainstream retail chain stores.
”We are excited to get this name change through FINRA,” continued Mr. Williams. “We have an extremely strong story right now, with several products already at market and driving robust sales. This step should reduce the cognitive hurdle in front of anyone who wishes to appreciate that story.”
About ISBG: International Spirits & Wellness Holdings, Inc. (ISBG) is an authorized importer, licensor, and marketer of premium beverage brands, with sales of innovative products and brands worldwide. Based in Nevada, the Company's expertise lies in the strategic development and aggressive early growth of its brands and the establishment of these brands as viable and profitable as an incubator. ISBG intends to nurture emerging brands through critical stages of market development, including conceptualization, go-to-market strategy, supply chain and logistics engineering, integrated marketing, and distribution. In addition, ISBG has now established itself as a health and wellness company with a focus on reshaping the CBD products market through state-of-the-art nanotechnology processes, developing a wide range of nano-infused CBD gummies and beverages formulations. These products will be sold through the Company’s website, as well as through established wholesale and retail distribution channels. The company has also partnered with Bengala Technologies to develop and commercialize enterprise and B2B software technology products targeting the logistics and supply-chain marketplace.
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).
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International Spirits & Wellness Holdings, Inc.
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