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).
For Additional Investor Information: International Spirit & Beverage Group, Inc. email@example.com