CANTON, Ga., Oct. 22, 2014 (GLOBE NEWSWIRE) -- Blue Water Global Group, Inc. (OTCBB:BLUU) is issuing this update to keep its shareholders apprised of the current state of progress and timing for both its premium rums and Blue Water Bar & Grill™ presently under development in St. Maarten, Dutch West Indies.
Premium Rums
Yesterday, October 21, 2014, our initial shipment of bottles, stoppers, four-color box cases, etc. was shipped from our Chinese manufacturer in two ocean going containers. The high-end luxury silk screen bottles are now on their way to our bottler in Santo Domingo, Dominican Republic. The final number of 1-liter bottles included in this shipment was 13,167 of our Blue Water Ultra Premium Rum™ and 5,781 of our Blue Water Caribbean Gold™ Premium Rum.
Since this was the initial order our bottle manufacturer incurred additional delays beyond our control. In the future we will be able to adjust the lead times to ensure we maintain sufficient quantities of inventory at all times. Photos of the containers being loaded can be viewed on Blue Water's Facebook page.
Additionally, we have continued to maintain discussions with regional Caribbean distributors that are interested in distributing our premium rums. Our first choice of distributors has agreed to undertake a trial offering of our premium rums at both the Port of St. Maarten and in the duty free shopping area of St. Maarten's airport as soon as we can supply them with sufficient quantities of our rums.
Blue Water Bar & Grill™
Presently, and while we continue to wait for the approval of our building plans and the issuance of the necessary building permits from the St. Maarten government, we have put the building plans out to three general contractors for bidding on the project. We should have these bids back by mid-November. Once we make a selection on the general contractor, we will advise our shareholders of the selection through a formal press release.
Equity Investments
We are awaiting final approval from Stream Flow Media's management and legal counsel to submit their Form 15c2-11 to FINRA. Once submitted and approved by FINRA, Stream Flow will receive a trading symbol on the OTCBB which will enable us to move forward with getting them approved by the Depository Trust Company (DTC) and getting FINRA approval of our planned stock dividend.
In relation to our Next Level Hockey, LLC investment, they are preparing to start the same process undertaken by Stream Flow in early 2015 as soon as they can complete an audit of their financial statements for the period ending December 31, 2014. During the current fiscal period Next Level will convert from an LLC to a "C" corporation in anticipation of going public.
Lastly, we are continuing to have discussions with a third prospective investment. We hope to finalize an agreement with them during the current fiscal period. Once finalized, we will advise our shareholders of their name and business through a formal press release.
Blue Water's President and CEO, J. Scott Sitra, stated, "We continue to remain very active in all of our operating business units. We are extremely pleased that our initial order of premium rum bottles has finally been fulfilled and are eagerly looking forward to selecting a general contractor for our flagship Blue Water Bar & Grill™ in St. Maarten. Further, our equity investments are starting to take shape and should start contributing to enhancing our balance sheet as originally planned." Mr. Sitra added, "All in all, our plans and visions are being realized and we are setting Blue Water up for an even more exciting year in 2015."
About Blue Water Global Group
Blue Water Global Group, Inc. is a publicly held developer of casual dining restaurant properties and premium distilled spirits. Blue Water is currently developing a chain of casual dining restaurants in popular tourist destinations throughout the Caribbean under the Blue Water Bar & Grill™ brand and a line of premium rums which include the flagship rum Blue Water Ultra Premium Rum™ and aged spiced Blue Water Caribbean Gold™ Premium Rum. Additionally, Blue Water is engaged in making strategic equity investments in promising businesses that are in the early stages of obtaining their own listing on the OTCBB. For more information, visit www.bluewaterglobalgroup.com.
Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Blue Water Global Group, Inc. ("Blue Water") assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws. For a description of additional risks and uncertainties, please refer to Blue Water's filings with the Securities and Exchange Commission, including "Risk Factors" in its Annual Report filed on Form 10-K.