PORTLAND, Ore., May 9, 2023
/PRNewswire/ -- Eastside Distilling, Inc. (NASDAQ: EAST)
("Eastside" or the "Company"), a
consumer-focused beverage company that builds craft inspired
experiential brands and high-quality artisan products around
premium spirits, digital can printing, co-packing and mobile
filling, will report its first quarter financial results after the
market close on Friday, May 12, 2023.
The Company will host a conference call on Monday, May 15, 2023 at 5:00 pm Eastern Time to review results.
First Quarter 2023 Conference Call Details
Date and Time: Monday, May 15,
2023 at 5:00pm ET
Call-in Information: Interested parties can access the
conference call by dialing (844) 889-4332 or (412) 717-9595.
Live Webcast Information: Interested parties can access
the conference call via a live Internet webcast, which is available
in the Conference Calls section of the Company's website at
https://www.eastsidedistilling.com/conference-calls.
Replay: A teleconference replay of the call will be
available for three days at (877) 344-7529 or (412) 317-0088,
confirmation # 3471174. A webcast replay will be available in the
Conference Calls section of the Company's website at
https://www.eastsidedistilling.com/conference-calls for 90
days.
The Company also announced that it has filed a Certificate
of Amendment to the Second Amended and Restated Certificate of
Incorporation to effect, after the close of business on
May 12, 2023, a 1-for-20 reverse
stock split of its shares of common stock. The Company's common
stock will begin trading on a split-adjusted basis when the market
opens on May 15, 2023. The
number of authorized shares of Eastside common stock has also been
reduced from 35,000,000 to 1,750,000.
The Company's shares of common stock will continue to trade on
the NASDAQ under the symbol "EAST" but will trade under a new CUSIP
number. The reverse stock split is intended to increase the market
price per share of the Company's common stock in order to comply
with NASDAQ's continued listing standards relating to minimum price
per share.
About Eastside Distilling
Eastside Distilling, Inc. (NASDAQ: EAST) has been producing
high-quality, award-winning craft spirits in Portland, Oregon, since 2008. The Company is
distinguished by its highly decorated product lineup that includes
Azuñia Tequilas®, Burnside Whiskeys®, Hue-Hue
Coffee Rum®, and Portland Potato Vodkas®. All
Eastside spirits are crafted from
natural ingredients for quality and taste. Eastside's Craft Canning + Printing subsidiary
is one of the Northwest's leading independent mobile canning,
co-packing and digital can printing businesses.
Important Cautions Regarding Forward-Looking
Statements
Certain matters discussed in this press release may be
forward-looking statements that reflect our expectations or
anticipations rather than historical fact. Such matters involve
risks and uncertainties that may cause actual results to differ
materially, including the following: changes in economic
conditions, general competitive factors, the Company's ongoing
financing requirements and ability to achieve financing, acceptance
of the Company's products in the market, the Company's success in
obtaining new customers, the Company's ability to execute its
business model and strategic plans, and other risks and related
information described from time to time in the Company's filings
with the Securities and Exchange Commission ("SEC"). A detailed
discussion of the most significant risks can be found in the "Risk
Factors" section of the Company's Annual Report on Form 10-K. The
Company assumes no obligation to update the cautionary information
in this press release.
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SOURCE Eastside Distilling, Inc.