PUERTO VALLARTA, Mexico, Aug. 17, 2007 (PRIME NEWSWIRE) -- Viva World Trade, Inc. (Pink Sheets:VVWT) and its Mexican subsidiary Canmex Imports (the "Company", "Viva" or "Canmex"), an importer and distributor of premium alcoholic and non-alcoholic beverages in Mexico, are pleased to provide this corporate update to shareholders regarding its recent business developments.
The Company has closed the previously announced Funding Agreement (see VVWT Press Release dated May 17, 2007). The first tranche of $250,000 of the equity financing was completed with an accredited investor and original shareholder of the Company. The balance of the proposed financing was not completed as anticipated.
Viva and Canmex are now proceeding with their intention to advance the proposed funding and development of the Local UNO Brewery. The brewery and bottling facility will produce Viva's Local UNO brand premium craft-style beers for the Mexican domestic market and international export.
Viva's unique Local UNO Beer formulations are produced through an exclusive agreement with Kosako Brewery (Mexico) and are currently available only in keg format. The construction of a dedicated Local UNO brewery and bottling facility will position the Company to profit from the rapidly growing global demand for Mexican brews.
World-wide demand for Mexican beer has never been higher. In the U.S., Mexican beer leads all other imports by a wide-margin, accounting for over 35% of the U.S. import market last year. Mexican beer has also seen its popularity and demand grow across Europe and Asia.
Planning, engineering, and design of the facility have been completed and the Company has received letters outlining favorable land and tax concessions from both State and local governments. As designed, the Local UNO Brewery will have the capacity to produce 3.5 million cases per year and cost approximately $14 million to construct (land and facility).
The Company is currently working with and seeking potential industry partners and investors to secure full funding for construction of the facility prior to project commencement.
About Viva World Trade, Inc.
Viva World Trade, Inc. is an importer and distributor of premium alcoholic and non-alcoholic beverages in Mexico. Viva and its Mexican subsidiary Canmex Imports are the exclusive importer and national distributor of the "mike's hard lemonade" brand family. "mike's hard lemonade" is one of North America's favorite and most successful flavored alcoholic beverages. The Company is also an authorized vendor and distributor for ROCKSTAR Energy Beverages. The ROCKSTAR brand family is a leader in the multi-billion dollar energy drink market. Viva World Trade, Inc. shares are traded over-the-counter on the Pink Sheets -- Trading Symbol: VVWT.
To learn more about Viva World Trade, Inc., visit www.vivaworldtrade.com
Disclaimer: Portions of this press release include "forward-looking statements," which may be understood as any statement other than a statement of historical fact. Forward-looking statements contained in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from management's expectations and projections expressed in this press release.