LAS VEGAS, Sept. 07, 2017 (GLOBE NEWSWIRE) -- International Spirit and Beverage Group Inc., (a Nevada Corporation) (OTCPK:ISBG) is excited to announce that the company has legally completed a series of corporate actions.
These corporate actions include a company name change, new CUSIP number, stock reverse and the reduction of the overall authorized shares and all have been filed and recognized by the State of Nevada, where the company is incorporated.
The company name change included only making “Spirit” into “Spirits” as ISBG management feels it will be a more accurate portrayal of the company’s portfolio moving forward. The CUSIP number was changed as a requirement by regulators when a company reverses its common stock. The stock reverse carries a ratio of 1-255 while also concurrently reducing the authorized common shares (A/S) to 480,000,000, which was extremely important to the company.
“ISBG management has many acquisition opportunities on the radar and this restructuring was necessary to acquire a couple of companies and their brands, which are already out in the market place generating revenue,” said ISBG Board Chairman, Alonzo Pierce. “These brands will bring significant bottom line increases and help to bring financial stability to ISBG, thus providing tremendous value for its many loyal shareholders.”
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 (otcmarkets.com).
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Source:International Spirit & Beverage Group, Inc.