XStream Beverage Group Inc. Announces 1-for-20 Reverse Stock Split
July 16 2004 - 5:00PM
PR Newswire (US)
XStream Beverage Group Inc. Announces 1-for-20 Reverse Stock Split
FORT LAUDERDALE, Fla., July 16 /PRNewswire-FirstCall/ -- XStream
Beverage Group, Inc. (OTC:XSBG) (BULLETIN BOARD: XSBG) announced
today that its Board of Directors has approved a one for 20 reverse
stock split of the company's outstanding common stock. XStream
Beverage has approximately 47,854,417 shares of common stock
outstanding before the stock split which will be reduced to
approximately 2,392,721 shares giving effect to the stock split.
The Board of Directors decided to undertake the reverse stock split
to reduce the cost to trade the company's common stock and to
achieve pricing more in line with institutional price preferences
and with most major exchanges. The record date for the split is
Friday, July 16, 2004 and it will be effective at market open on
Monday, July 19, 2004. Effective with the reverse stock split the
company's trading symbol on the OTC Bulletin Board will change to
"XSBV" and the new CUSIP number for its common stock will be
98415K207. Any fractional shares, which might result from the split
will be rounded up to the nearest whole share. Stockholders of
XStream Beverage are not required to exchange their existing stock
certificates for new certificates representing the number of shares
owned by the shareholder post-split as the transfer records for
XStream Beverage will be automatically adjusted by InterWest Stock
Transfer, its transfer agent. About XStream Beverage Group, Inc.
XStream Beverage Group, Inc., http://www.xbev.com/, is a beverage
brand owner and distributor and is rapidly becoming a key player in
the new age beverage category. The company plans to continue
acquiring small- to medium- sized beverage distributors, developing
brands under its own label or through acquisition and leveraging
those brands through its current and future distribution channels.
The company is a fully reporting, public entity trading on the OTC
Bulletin Board. This press release includes forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include failure to complete successfully
the development of new or enhanced products, the Company's future
capital needs, the success of competitive products, fluctuations in
costs, changes in consumer preferences and other items described in
the Company's Securities and Exchange Commission filings. The
Company undertakes no obligation to update any statements in this
press release. Contact: Peter Nasca Peter Nasca Associates, Inc.
Chicago: 312-421-0723 Miami: 305-937-1711 For Investor Relations:
Bob Giordano 212-495-0200 extension 10 SOURCE XStream Beverage
Group, Inc. CONTACT: Peter Nasca, of Peter Nasca Associates, Inc.,
+1-312-421-0723 or +1-305-937-1711, or , for XStream Beverage
Group, Inc.; or investor relations, Bob Giordano for XStream
Beverage Group, Inc., +1-212-495-0200, ext. 10 Web site:
http://www.xbev.com/
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