NEW YORK, May 15, 2012 /PRNewswire/ -- Premier Beverage
Group (OTC: PBGC) has released the following letter to shareholders
from its President, Fouad
Kallamni.
Dear Shareholders,
I wanted to update you on our progress and the status of our
public filings.
The last few months have been challenging for us due primarily
to financing constraints. Our existing products continue to
sell as they always have in our key NYC accounts; however, we have
been unable to secure sufficient capital to enter into production
of our newly designed products. While we have been presented
with many proposals from parties seeking to use our shares and
liquidity as the basis for providing this capital, we believe it is
in the best interest of all of our shareholders to reject these
proposals in favor of long term patient capital.
Upon completion of these financing initiatives, we intend to
enter into production of new products and promptly file all
required reports to become current, including our 10-K for the year
ended December 31, 2011 and our 10-Q
for the first quarter ended March 31,
2012.
While our progress has been delayed due to financing, we still
believe strongly in our business and have adjusted our plans
accordingly to execute on our plan with available resources.
The time has never been as right as it is now to introduce our
redesigned ultra premium energy beverage packaging range. In
addition, we are actively pursuing major national accounts through
our Captive Brands subsidiary that can have a significant impact on
our business.
Thank you for your continued support of Premier Beverage
Group.
Sincerely,
Fouad Kallamni
President
Premier Beverage Group Corp.
About Premier Beverage Group
Premier Beverage Group (OTC: PBGC) is a holding company
that – through its subsidiaries, OSO Beverages and Captive Brands –
owns, develops, markets and distributes premium functional
beverages. Premier Beverage Group's flagship brand, OSO, is a
premium energy beverage offered primarily in on-premise
venues. OSO, offered in both original and light flavors, is
produced in Austria using only the
finest ingredients – resulting in a clear, crisp energy beverage
and an up-market consumer experience. Captive Brands provides
a turnkey private label program for retailers seeking to offer
functional beverage and related products. For more
information on Premier Beverage Group, please visit
www.premierbeveragegroup.com. For more information on OSO
Beverages, please visit www.osobeverages.com.
This press release, within the meaning of the Private
Securities Litigation Reform Act of 1995, contains forward-looking
statements involving known and unknown risks, delays, and
uncertainties that may cause our actual results or performance to
differ materially from those expressed or implied by these
forward-looking statements. These risks, delays, and uncertainties
include, but are not limited to: risks associated with the
uncertainty of future financial results, our reliance on a limited
number of suppliers, the limited diversification of our product
offerings, additional financing requirements, development of new
products, government approval processes, the impact of
competitive products or pricing, technological changes, as well as
the effect of economic conditions and other uncertainties detailed
in the Company's filings with the Securities and
Exchange Commission. The Company undertakes no obligation to update
any forward-looking statements.
For more information, contact:
Investor Relations
(646) 820-0630
ir@premierbeveragegroup.com
SOURCE Premier Beverage Group