NEW YORK, May 5, 2014 /PRNewswire/ -- Panache Beverage
Inc. (OTCQB: WDKA) (the "Company" or "Panache"), announced the
appointment of Thomas G. Smith as
Chief Financial Officer, effective April
29th.
Mr. Smith brings over 20 years of financial and accounting
experience to the Company. He most recently served as Chief
Financial Officer of Newport International, LLC, a multi
division/multi-locations international import/export distribution
and food and beverage manufacturing organization with annual sales
of 100 million.
Michael Romer, Interim President
and CEO of Panache Beverage Inc., stated that, "We are pleased that
we were able to find a candidate that is experienced in public
company financial matters and who will be able to work in the
Florida facility." Mr. Smith will
be based at Panache Distillery as Panache's administration and
operations transition there.
Recently at the Distillery, the Company debuted its new Old
South Shine brand. The moonshine was created specifically to
fulfill an immediate need for Premier Beverage in Florida. Panache Beverage Inc. anticipates
expanding the brand into additional markets in the near future
following its initial roll-out.
In addition to the launch of Old South Shine, Panache is in the
process of installing a 2nd bottling line in its distillery
facility. This will double current bottling capacity and provide
the distillery with the ability to bottle up to 1 million cases per
year.
Mr. Smith concludes, "I am excited to become the Chief Financial
Officer of Panache Beverage Inc. and look forward to assisting the
Distillery to develop into the foundation of the Company."
About Panache Beverage
Panache Beverage, Inc., based
in New York, NY, is an alcoholic
beverage company specializing in the development, global sales and
marketing of spirits brands. The company's expertise lies in the
strategic development and aggressive early growth of its brands
establishing its assets as viable and attractive acquisition
candidates for the major global spirits companies. Panache intends
to build its brands as individual acquisition candidates while
developing, creating and expanding its portfolio via the Panache
Distillery. Panache's existing portfolio consists of the brands:
Wodka Vodka, Alchemia Infused Vodka, Alibi American Whiskey,
Spirytus Vodka, Old South Shine Vodka in addition to the
forthcoming OGB line of spirits.
Safe Harbor
The Private Securities Litigation Reform
Act of 1995 provides a safe harbor for forward-looking statements.
This press release may contain certain statements of a
forward-looking nature relating to future events or future business
performance. Any such statements that refer to the Company's
estimated or anticipated future results or other non-historical
facts are forward-looking and reflect the Company's current
perspective of existing trends and information. These statements
involve risks and uncertainties that cannot be predicted or
quantified and, consequently, actual results may differ materially
from those expressed or implied by such forward-looking statements.
Such risks and uncertainties include, among others, risks and
uncertainties detailed in the Company's Securities and Exchange
Commission filings, including the Company's Annual Report on Form
10-K and Quarterly Reports on Form 10-Q. The forward-looking
statements speak only as of the date of this release. The Company
undertakes no obligation to update publicly any forward-looking
statement, whether as a result of new information, future events or
otherwise.
Press Release Contact Information:
PR
Public Relations
Panache Beverage inc.
212-691-6292
pr@panachespirits.com
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SOURCE Panache Beverage Inc.