-- Company Progressing on Several Fronts --
WATERTOWN, NY / ACCESSWIRE / January 27, 2023 / 1812 BREWING COMPANY, INC. (OTC Markets:KEGS) (the 'Company' or 'KEGS') is pleased to update its shareholders and the market on several fronts as the Company progresses forward with its strategy.
- 1812 Brewing Company has presented a potential acquisition candidate an Indication of Interest ('IOI') letter, which has led to in-person meetings with top management at the target. We expect these meetings to occur in the following weeks, and we seek to derive from them a binding Letter of Intent ('LOI'). This acquisition - if transacted - would be potentially transformational for 1812 Brewing Company in that it would allow the Company to show 'proof of concept' with our brewery network strategy. The deal is contingent upon final terms and financing.
- 1812 Brewing Company's entrance into the Canadian market is progressing. As stated previously, the Company has chosen to enter the market in the Province of Ontario and, as such, is applying for product approvals with the Liquor Control Board of Ontario ('LCBO'). As products are approved it would clear the pathway for any to be sold at up to 450 of The Beer Store (www.thebeerstore.ca) locations and possibly through the LCBO's own stores (Wine Spirits Beer | LCBO), which are approximately 650. As this process continues, management will be sure to update shareholders.
- Management is also considering investments and acquisitions outside the beer market with beverages that we feel are complementary to our own. To this end, we have begun initial discussions with a bourbon brand that has achieved numerous awards and gained immense popularity in a relatively short period. The talks have just begun, and we will be sure to also update you if these discussions develop further.
- Finally, also as previously announced, 1812's flagship product continues to be sold on TapRm.com's website direct-to-consumers in 45 states plus Washington DC at:
Sales at TapRm.com remain strong, and we hope to add additional products to our portfolio there.
Thank you for your continued support, and we look forward to updating you all on the Company's developments and continued progress.
About 1812 Brewing Company ('KEGS or the 'Company'):
KEGS is an operator of and investor in companies in the craft beer industry. The Company seeks to build a nation-wide network of craft breweries to develop and foster respective brand growth at the local, regional, and national level. KEGS looks to build a network wherein certain economies of scale can be shared across it such as production, distribution footprint expansion, inter-member contract brewing, new product development, sharing of best brewery practices and scale logistics and transportation. The network is to be built through investment by 1812 Brewing Company while maintaining the members' respective local and regional uniqueness, brand autonomy and direct involvement with its consumers. The Company seeks to be an 'incubator' of growth for its holdings in the industry.
The Company's current holding, 1812 Brewing Co., produces award-winning beers such as War of 1812 Amber Ale ('1812 Amber Ale'), 1812 Light, Hazy Oasis Pale Ale, Thousand Islands IPA, Malicious Intent XX IPA, Route 11 Lager, Railroad Red Ale, Helles Bells Pilsner, St. Stephens Stout, Third Rail Porter, Featherhammer Maibock.
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Contact Name: Tom Scozzafava
Contact Phone Number: 315-788-1812
Contact Email Address: email@example.com
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
SOURCE: 1812 Brewing Company Inc.
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