TULSA, Okla., June 23, 2006 (PRIMEZONE) -- Global Beverage Solutions, Inc. (OTCBB:GBVS) announced today that it has received $425,000 in a private placement transaction wherein GBVS sold 425,000 shares of its common stock at a sales price of $1.00 per share. The total equity capital raised by the company at the $1.00 offering price now totals $1,266,000.
"The injection of this last $425,000 is instrumental in our ability to complete the funding Rudy Beverage, Inc. needs to cash flow its operations. Although the roll-out of the Rudy products was delayed, it appears that sales momentum is increasing, and that Rudy's management is confident in its cash flow forecast," stated Richard Clark, President of GBVS.
About Global Beverage Solutions, Inc.
Rudy Beverage, Inc. is a majority-owned portfolio company of Global Beverage Solutions, Inc. Global Beverage Solutions, Inc. (OTCBB:GBVS) is a business development company governed under the Investment Company Act of 1940 that invests primarily in development stage companies within the beverage industry. As a business development company, Global Beverage Solutions, Inc. provides financial guidance in addition to cash investments in the form of both loans and equity investments in its portfolio companies. Global Beverage Solutions, Inc. reports information which can be found at edgar.sec.gov. Additionally, company information can be found on its Web site at www.globalbeveragesolutions.com.
Safe Harbor:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trend and conditions, and other risks detailed in the Company's SEC reports.