Huge news, ISBG Restructures over 75% of Convertib
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Posted On: 01/20/2017 10:09:28 AM
Huge news, ISBG Restructures over 75% of Convertible Debt!!!!
http://www.marketwatch.com/story/isbg-restruc...2017-01-20
ISBG Restructures over 75% of Convertible Debt
Published: Jan 20, 2017 10:00 a.m. ET
LAS VEGAS, Jan. 20, 2017 /PRNewswire/ - International Spirit and Beverage Group Inc., (a Nevada Corporation) (otcpk:ISBG) management is pleased to announce that the company has restructured $645,000 of convertible debt.
"Our purpose in restructuring debt was to give the company room to grow and we have exceeded that goal," CEO Terry Williams said. "Almost half the debt was restructured and extended out 18 months and the remainder of the debt was extended out 12 months. This will provide the company with the financial flexibility to properly execute our key brand initiatives for 2017."
The Company will also be correcting an error in the recently posted financials. There are not any notes maturing in January, 2017. All the Rockwell notes were settled in the second and third quarters of 2016.
With the majority of the restructuring accomplished, ISBG is turning its attention to growing the business. The company now will move forward with expanding the footprint of Besado Platinum Tequila™ as well as scheduling various appearances nationwide at festivals and tasting competitions. Expansion within existing markets, including new retail and on-premise programs with integrated digital support marketing commences February 1 [st] .
"While we will be more aggressive with our point of sale marketing in states where Besado Platinum Tequila™ is already available, we are also evaluating which will be the next state where Besado will be unveiled," Williams noted. "We have narrowed our list to three states and will begin the application process once a candidate has been selected. Our goal is to have a solid national footprint for our brand within 2017."
Besado Platinum Tequila™ is currently available in Texas, New York, New Jersey, Florida, Louisiana and Maryland.
ISBG Product Placement Recap:
http://www.marketwatch.com/story/isbg-restruc...2017-01-20
ISBG Restructures over 75% of Convertible Debt
Published: Jan 20, 2017 10:00 a.m. ET
LAS VEGAS, Jan. 20, 2017 /PRNewswire/ - International Spirit and Beverage Group Inc., (a Nevada Corporation) (otcpk:ISBG) management is pleased to announce that the company has restructured $645,000 of convertible debt.
"Our purpose in restructuring debt was to give the company room to grow and we have exceeded that goal," CEO Terry Williams said. "Almost half the debt was restructured and extended out 18 months and the remainder of the debt was extended out 12 months. This will provide the company with the financial flexibility to properly execute our key brand initiatives for 2017."
The Company will also be correcting an error in the recently posted financials. There are not any notes maturing in January, 2017. All the Rockwell notes were settled in the second and third quarters of 2016.
With the majority of the restructuring accomplished, ISBG is turning its attention to growing the business. The company now will move forward with expanding the footprint of Besado Platinum Tequila™ as well as scheduling various appearances nationwide at festivals and tasting competitions. Expansion within existing markets, including new retail and on-premise programs with integrated digital support marketing commences February 1 [st] .
"While we will be more aggressive with our point of sale marketing in states where Besado Platinum Tequila™ is already available, we are also evaluating which will be the next state where Besado will be unveiled," Williams noted. "We have narrowed our list to three states and will begin the application process once a candidate has been selected. Our goal is to have a solid national footprint for our brand within 2017."
Besado Platinum Tequila™ is currently available in Texas, New York, New Jersey, Florida, Louisiana and Maryland.
ISBG Product Placement Recap:
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