LAS VEGAS, NV, May 21, 2018 (GLOBE NEWSWIRE) -- International Spirits and Beverage Group Inc. (OTCPK:ISBG) (“ISBG” or the “Company”), a Nevada Corporation, is excited to announce that the Company has formally filed an application with the OTC Markets Group (the “OTC”) to transition shares from the Pink Sheets and onto the OTCQB “Venture Market” tier.
ISBG has already successfully completed the mandatory two-year audit process through an engagement with a highly respected PCAOB registered CPA firm specializing in audit and assurance accounting services. The Company is now in full compliance with all OTC requirements, is fully eligible for this uplisting, and has now formally submitted its application to the OTC to complete the process.
ISBG President and Chairman, Alonzo Pierce, commented, “Uplisting onto the OTCQB is a statement about trust, confidence, and transparency. By undertaking a full two-year audit of company financial records and committing to the heightened financial and corporate disclosure standards associated with the higher tier listing, we are demonstrating to investors that ISBG has everything in good working order under the hood. That’s a crucial step as we push our aggressive 2018 growth agenda forward. This will give us better access to institutional investors, a broader shareholder base, and greater credibility with our partners, clients, and customers, as well as with the wider investment community.”
Management believes this step will afford the Company increased liquidity, visibility, and access to institutional capital, which will help ISBG shatter performance records from previous years as its recent acquisition of RWB Vodka begins to impact financial performance and the Company nails down additional expansion moves into other high growth areas currently in play.
Crucially, this move builds on existing momentum, coming on the heels of several other key achievements over recent months to streamline and expand, including a reduction in convertible debt, a balance-sheet positive refinancing, a widening of the distribution footprint for Besado sales into Georgia and China, and expanded Board representation.
Mr. Pierce continued, “The progress we have made over the past six months might seem staggering from the outside. But it doesn’t surprise me at all because I know our team, our core financing base, our longer-term stakeholders, and our partners. Everyone is on the same page right now and committed to the same vision, and it’s starting to show.”
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).
Contact: For Additional Investor Information: International Spirit & Beverage Group, Inc. info@isbg.global
