LAS VEGAS, NV, Nov. 29, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- International Spirits and Beverage Group Inc. (OTCQB:ISBG) (“ISBG” or the “Company”), a top-tier brand incubator in the Global Wine & Spirits and CBD-Infused Products markets, presents the following corporate update in the wake of several major developments that may be relevant to current and prospective ISBG investors seeking to understand the operational and strategic context for the Company.
“During the past two months, we have met and exceeded our objectives in a manner that deserves some review,” notes ISBG CEO, Terry Williams. “The zone of impact comes down to three major factors that intertwine in a powerful manner as we push into year-end and a fresh docket of challenges and opportunities in 2019: a massively augmented balance sheet, a forceful entrance into the CBD marketplace, and a reintroduction to Canadian investors, who may be best-placed to appreciate that prior point.”
Debt Reduction and Forbearance from a Large Debt Holder: The Company was recently the beneficiary of the forgiveness and forbearance of a major convertible note with an outstanding value of $140K. This is the biggest single debt reduction for the Company in its history, and dramatically reduces outstanding obligations.
Management believes the move was a response to manifest progress in the Company’s two primary expansion agendas: the ISBG-Bengala Blockchain Project and the Company’s push into CBD-infused beverages and CBD chews. This step is often taken when the calculus lines up in the right way: By reducing the burden faced by the Company, the investor may receive a greater return over time through enabling the Company’s capacity to aggressively pursue a strong slate of opportunities in high-growth industries.
Entrance Into CBD Marketplace: The Company has also recently taken an aggressive tack into the CBD marketplace, nearing completion of a range of flavor formulations and production processes to hit the market over the near term on at least one major CBD product online retail storefront for both branded CBD gummies and CBD-infused beverages.
Mr. Williams continued, “Everyone knows the CBD products market is in a boom. We have a team of folks and years of experience predicated on consumer discretionary branding and formulation for products that match up extremely well with the CBD space. And we have new talent and new relationships that grant a further edge here. We have forged a commitment to excel in this boom, and we will begin to deliver on that commitment in the very near term.”
Cease Trade Order Revocation in Canada: The Company also recently saw the Cease Trade Order in place from the Alberta Securities Commission in Canada officially revoked, meaning that trading in shares of ISBG has been reinstated in Canada, and Canadian investors once again have the opportunity to invest in ISBG.
Given the coincident timing with the Company’s move into the CBD space and the visible excitement of Canadian investors and citizens for CBD and Cannabis related opportunities, management is particularly happy to see Canadian regulators finally address and rectify this unfortunate situation.
About ISBG: ISBG is a Nevada-based alcoholic beverage company specializing in the development, marketing and global sales of innovative wine and spirits brands. The Company's expertise lies in the strategic development and aggressive early growth of its brands and establishing these brands as viable and profitable. ISBG intends to build its own brands while seeking out individual acquisition candidates to continue to develop its pipeline of new brands into the ISBG portfolio. For more information visit: www.isbg.global
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).