Republic of Texas Brands to Exit Chapter 11 With a Branded Hemp Based Iced Tea Drink Offering
June 27 2014 - 8:30AM
Marketwired
Republic of Texas Brands to Exit Chapter 11 With a Branded Hemp
Based Iced Tea Drink Offering
RTXBQ Merger of CHILL Texas Is a Top Priority
DALLAS, TX--(Marketwired - Jun 27, 2014) - Republic of Texas
Brands, Inc. (PINKSHEETS: RTXBQ) Chapter 11 exit strategy is right
on target with a new beverage industry executive Tom Shuman at the
helm as the new CEO. The planned merger with CHILL Texas is a top
priority as we exit voluntary Chapter 11 and details of the merger
will be released after the Court formally approves the Bankruptcy
plan as early as next week. The synergy created with the
marketing of popular hemp based products CHILLO-energy drink and
C-Swiss Iced Tea has opened a sizeable Texan customer base and will
open the gateway for an easy entry of our own locally produced
hemp-based Iced Tea drink. Tom Shuman's 30 years of beverage
industry experience and countless marketing contacts with retailers
such as Albertsons, Wal-Mart, Sam's Club and 7-Eleven will allow
the product launch to be in many large beverage retailers hands
right from the start.
"We have finalized our new Hemp Iced Tea drink formula with the
bottler and we have decided to go with a slim line 12 ounce can
that will provide the company with attractive profit margins while
offering the consumer a competitively priced product. Our initial
production run will be a minimum of 5,000 cases and we have
finalized the can design with the marketing company who has done an
excellent job designing the labeling on the new cans. We have
already applied for the trademark of the new brand and we will
announce the new name of the product as soon it has cleared the
trademark office," states Tom Shuman, the new company
CEO.
"We want to once again remind our shareholders that the share
structure will be improved post Chapter 11 with a reduction of the
Authorized Shares to 400,000,000 and the Outstanding Shares will be
reduced to approximately 202,000,000 shares."
About Republic of Texas Brands Incorporated:
Our mission is to be the premier Hemp Beverage Company in the
USA.
Safe Harbor Act: This release includes forward-looking
statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 that involves
risks and uncertainties including, but not limited to, the impact
of competitive products, the ability to meet customer demand, the
ability to manage growth, acquisitions of technology, equipment, or
human resources, the effect of economic business conditions, and
the ability to attract and retain skilled personnel. The Company is
not obligated to revise or update any forward-looking statements in
order to reflect events or circumstances that may arise after the
date of this release.
Contact: Tom Shuman CEO Email Contact
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