ISBG Reduces Both Authorized and Outstanding Shares By More Than 50%
June 26 2018 - 7:35AM
InvestorsHub NewsWire
Las Vegas, NV -- June 26, 2018 -- InvestorsHub NewsWire --
International Spirits and Beverage Group Inc. (OTCPK:ISBG) (“ISBG”
or the “Company”), a Nevada Corporation, announces today a sharp
reduction in total authorized and outstanding shares.
The total number of shares authorized for potential issuance has
been reduced by the Company from 480 million to 220 million. In
addition, the total number of current outstanding shares issued and
owned by shareholders has been reduced from 99.91 million down to
48.7 million.
Management notes that this move represents a dramatic
streamlining of cap table risk for shareholders, with a 54% and 51%
narrowing of potential share issuance and total outstanding shares,
respectively.
ISBG President and Chairman, Alonzo Pierce, stated, “We are
striving to become extremely shareholder friendly as we step up our
2018 growth agenda. The two elements really do go hand in hand. In
recent months, we have completed a full audit of two years of
financial data, applied for an upcoming uplist to the OTCQB
exchange, expanded board representation, cut an enormous amount of
outstanding debt, and now sliced off more than half of both
authorized and issued share totals. At the same time, we have been
aggressive on the growth side, acquiring and launching an
American-style craft vodka brand and expanding our overall sales
footprint. We have several major announcements on the way over the
near term as well.”
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