$BLUU announces that it has finalized a Letter o
Post# of 144482
$BLUU announces that it has finalized a Letter of Intent (LOI) with a family owned distillery located on the Caribbean island of Dominica, W.I.
CANTON, Ga., Jan. 15, 2014 (GLOBE NEWSWIRE) -- Blue Water Global Group, Inc. (OTCBB:BLUU) announces that it has finalized a Letter of Intent (LOI) with a family owned distillery located on the Caribbean island of Dominica, W.I. Due to a non-disclosure provision, the family and distillery name are being withheld until a Definitive Agreement is executed, which is expected to occur within the next 90 days.
Key Highlights :
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Develop and distill the three following sugarcane based rums to be sold under the Blue Water label:
1. White Rum . A clear, or "light", rum for use in mixed drinks that will be comparable to Bacardi™ Light Rum
2. Spiced Rum . A lightly spiced rum for use in mixed drinks that will be comparable to Captain Morgan™ Spiced Rum
3. Holiday Spiced Rum . A hearty spiced rum offered seasonally that will be for sipping and mixing holiday type drinks
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Blue Water retains exclusive rights (inclusive of recipes and distillation process) to all privately labeled rums developed and branded under this agreement
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Blue Water retains exclusive and unlimited worldwide distribution rights to its privately labeled rums
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Blue Water will initially sell its rums at its Blue Water Bar & Grill™ restaurants and through its own souvenir shops
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Blue Water will eventually negotiate separate distribution agreements for expanded wholesale and retail sales of its rums throughout the Caribbean Region
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The distillery is prepared to plant an additional 400 acres of sugarcane in 2014 to accommodate Blue Water's rums
Blue Water's President and CEO, J. Scott Sitra, stated, "This is a groundbreaking development that we are very excited to share with our stockholders. Not only will this help us control liquor costs at our Blue Water Bar & Grill™ restaurants, but this development is a natural extension of the Blue Water brand." Mr. Sitra continued, "Initially, tourists and locals alike will be able to purchase our rums at the Blue Water Bar & Grill™ souvenir shops. However, once a stable inventory is established, we intend to sell the Blue Water rums island wide through various retail and grocery stores."
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