LOS ANGELES, Aug. 29, 2017 (GLOBE NEWSWIRE) -- Reed’s, Inc. (NYSE American:REED), owner of America’s #1 selling Ginger Beer and the nation’s leading portfolio of handcrafted, all-natural beverages, today announced that on August 24, 2017, Chairman John Bello purchased 117,647 shares of Reed’s, Inc. common stock at the market price of $1.70 per share. Chairman Bello purchased an additional 29,400 shares on August 25, 2017 at $1.70 per share.
Chairman Bello commented, "We are getting things done at Reed’s. The recent additions of Val Stalowir as CEO and Stefan Freeman leading operations as COO join our proven sales veteran Neal Cohane. This cohesive team of seasoned professionals are already adding value and delivering on their initiatives. My recent stock purchases, that were delayed due to blackout period trading restrictions, reinforces my belief that we are doing all the right things to turn around Reed’s and get the Company back into growth mode. We are simplifying the business and remain focused on driving growth through our core Reed’s and Virgil’s product offerings. There are many exciting things on the horizon at Reed’s including the introduction of our new all natural no sugar beverage line that we believe will be revolutionary in the industry.”
Additional details regarding Mr. Bello’s purchases are reflected in a Form 4 Statement of Change in Beneficial Ownership of Securities filed with the Securities and Exchange Commission on August 28, 2017.
About Reed's, Inc.
Established in 1989, Reed’s has sold over 500 million bottles of its category leading hand-brewed craft beverages. Reed’s is America’s #1 selling Ginger Beer brand and has been the leader and innovator in the ginger beer category for decades. The company is the maker of some of the best-selling all natural, handcrafted beverages in the natural and specialty foods channel. Reed’s portfolio is sold in well over 20,000 natural, specialty, mainstream and independent supermarkets nationwide. Additionally, Reed’s products are sold through accounts within the drug, club, mass, and convenience store channels as well as on-premise accounts that include bars and restaurants nationwide. The Reed’s and Virgil’s brands can also be found in a growing number of international markets. Its seven award-winning non-alcoholic Ginger Brews are unique in the beverage industry. Reed’s Ginger Brews are hand brewed, not formulated and use more than a million pounds of fresh ginger combined with spices and fruit juices every year. Reed’s Ginger Brews deliver a delicious and intense ginger bite and burn that can only come from fresh ginger root. The Company applied this same handcrafted brewed approach and focus on high quality ingredients to its award-winning Virgil’s Root Beer. The Virgil’s line of all natural, handcrafted beverages is the top-selling craft soda in the natural food channel and is one of the leading brands within the fast-growing craft soda category.
For more information about Reed's, please visit the Company's website at: http://www.reedsinc.com or call 800-99-REEDS.
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SAFE HARBOR STATEMENT
Some portions of this press release, particularly those describing Reed’s goals and strategies, contain “forward-looking statements.” These forward-looking statements can generally be identified as such because the context of the statement will include words, such as “expects,” “should,” “believes,” “anticipates” or words of similar import. Similarly, statements that describe future plans, objectives or goals are also forward-looking statements. While Reed’s is working to achieve those goals and strategies, actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These risks and uncertainties include difficulty in marketing its products and services, maintaining and protecting brand recognition, the need for significant capital, dependence on third party distributors, dependence on third party brewers, increasing costs of fuel and freight, protection of intellectual property, competition and other factors, any of which could have an adverse effect on the business plans of Reed’s, its reputation in the industry or its expected financial return from operations and results of operations. In light of significant risks and uncertainties inherent in forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by Reed’s that they will achieve such forward-looking statements. For further details and a discussion of these and other risks and uncertainties, please see our most recent reports on Form 10-K and Form 10-Q, as filed with the Securities and Exchange Commission, as they may be amended from time to time. Reed’s undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.