- Prime’s enhanced profile after the acquisition:
- A 100,000-square-foot beverage production facility with an annual production capacity of 550,000 hectolitres.
- More than 10 brands and distribution rights, including beer brands Glutenberg, Oshlag, Vox Populi and 2 Frères, and beverage brands Baron, Octane, Mojo, Beach Day Every Day spirits and Beach Day Every Day Malt (outside Quebec only).
- Freshwater reserve rights covering a potential total annual volume of 3.351 billion litres, making Prime one of the largest holders of extraction rights in Canada.
MONTREAL, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Prime Drink Group Corp. (CSE: PRME) (“Prime” or the “Company”) is pleased to announce the resumption of trading in its shares today.
Alexandre Côté, Prime's President and Chief Executive Officer, said: “After several months of hard work and careful preparation to complete the acquisition, we are excited to begin a promising new chapter in Prime's history. We are confident that our combined expertise, first-class assets and increased financial strength will facilitate the expansion of our business across North America.”
“We are thrilled to take this next step. Now that the transition period is over, Prime Bottling (formerly Triani Canada), will be able to focus all its energies on increasing sales and on growth projects with its innovative brands. Our new financial and organizational structure are undeniable assets that will help us achieve our ambitious goals,” said Tristan-Bourgeois Cousineau, President of Prime Bottling, a wholly owned subsidiary of Prime.
Olivier Primeau, Chief Brand and Innovation Officer of Prime, added: “We are extremely grateful for the continued confidence of our investors. This transition period has been marked by intensive work to ensure the successful integration of the bottling division into our portfolio of assets and to strengthen Prime's position in the market. Today, we are proud that our shares are once again available to the public and we look forward to sharing the fruits of our efforts with our investor community.”
“On behalf of the Board, I would like to commend the collaborative efforts of the parties involved in the successful completion of the acquisition and the creation of the bottling division,” said Raimondo Messina, Chairman of the Board of Prime. “This acquisition marks a major strategic step forward, designed to support the Company's growth initiatives while capitalizing on the acquisition of this recent acquisition. It also demonstrates our long-term commitment to creating sustainable value for our shareholders.”
Prime's enhanced profile
With the creation of its new bottling division, Prime also becomes a fully integrated brewer of alcoholic and non-alcoholic beverages, from conception to sales, serving a broad customer base that includes prestigious brands across North America. The Company already possesses proven expertise in manufacturing, sales and influencer marketing, innovation, distribution and mergers and acquisitions.
The new combined entity now includes the following assets:
- A 100,000-square-foot beverage production facility with an annual production capacity of 550,000 hectolitres.
- A fully equipped beverage production platform, including a fleet of trucks and comprehensive distribution services.
- More than 10 brands and distribution rights, including beer brands Glutenberg, Oshlag, Vox Populi and 2 Frères, and beverage brands Baron, Octane, Mojo, Beach Day Every Day spirits and Beach Day Every Day Malt (outside Quebec only).
- Freshwater reserve rights covering a potential total annual volume of 3.351 billion litres, making Prime one of the largest holders of extraction rights in Canada.
In addition, Prime has improved its cash position, which will enable it to focus on its operating activities and expansion plans in fast-growing markets in Canada and the United States, notably the gluten-free beer market, which is expected to reach $1.4 billion by 20321.
Taking into account the acquisition of Triani, the Subscription Receipt Offering and the Unit Offering, the following securities of Prime are issued and outstanding as of today: (i) 337,173,212 common shares, (ii) 17,450,000 warrants and (iii) 5,500,000 stock options.
As of today, the Company's main officers and directors hold a total of 151,036,121 outstanding common shares of Prime, representing approximately 45% of the Company's outstanding shares, demonstrating management's strong commitment to the future success of the Company.
About Prime Drink Group
Prime Drink Group Corp (CSE: PRME) is a Quebec-based corporation focused on becoming a leading diversified holding company in the beverage, influencer media and hospitality sectors.
For further information, please contact:
Jean Gosselin
Phone: (514) 394-7717
Email: info@prime-group.ca
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations (including negative and grammatical variations) of such words and phrases or statements that certain acts, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information contained in this press release may include, but is not limited to, statements regarding Prime's future prospects.
These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding the beverage industry, market conditions, general economic factors, and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance of Prime may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although Prime believes that the expectations reflected in forward-looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Prime disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
1 In U.S. dollars, Market Research Future, February 2021.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3713a4e3-9aeb-4430-8dcb-6e75cdde07df
