International Spirit and Beverage Group, Inc. (OTC Pink: ISBG) is engaged in the acquisition, development, design, construction, management, marketing, and sale of real estate assets. The company also operates an alcohol distribution business, as well. Shares of the real estate company shot up 70%, through afternoon trading on Friday, January 20, 2017. Over the past three months, International Spirit and Beverage Group, Inc. has seen average daily volume of 36.45 million shares. However, nearly 182.23 million shares or dollar volume of $127,561, has already exchanged hands through afternoon trading today.
Shares of International Spirit and Beverage Group, Inc. are soaring Friday, after the company announced it has restructured 75% of its convertible debt, totaling $645,000. Management says they were able to extend half of its debt out 18 months, while the remainder was extended 12 months. With convertible debt restructured, management feels they will have a greater ability to focus on business growth in 2017. Here is the full press release detailing of the restructuring:
International Spirit and Beverage Group, Inc. Press Release:
LAS VEGAS, Jan. 20, 2017 /PRNewswire/ – International Spirit and Beverage Group, Inc., (a Nevada Corporation) (ISBG) management is pleased to announce that the company has restructured $645,000 of convertible debt.
“Our purpose in restructuring debt was to give the company room to grow and we have exceeded that goal,” CEO Terry Williams said. “Almost half the debt was restructured and extended out 18 months and the remainder of the debt was extended out 12 months. This will provide the company with the financial flexibility to properly execute our key brand initiatives for 2017.”
The Company will also be correcting an error in the recently posted financials. There are not any notes maturing in January, 2017. All the Rockwell notes were settled in the second and third quarters of 2016.
With the majority of the restructuring accomplished, ISBG is turning its attention to growing the business. The company now will move forward with expanding the footprint of Besado Platinum Tequila™ as well as scheduling various appearances nationwide at festivals and tasting competitions. Expansion within existing markets, including new retail and on-premise programs with integrated digital support marketing commences February 1st.
“While we will be more aggressive with our point of sale marketing in states where Besado Platinum Tequila™ is already available, we are also evaluating which will be the next state where Besado will be unveiled,” Williams noted. “We have narrowed our list to three states and will begin the application process once a candidate has been selected. Our goal is to have a solid national footprint for our brand within 2017.”
Besado Platinum Tequila™ is currently available in Texas, New York, New Jersey, Florida, Louisiana and Maryland.
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: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.