(BSNS WIRE) Aqua Vie Beverage Corporation Formally Requests Stock Certif
Aqua Vie Beverage Corporation Formally Requests Stock Certificate Exchange
Business Editors
KETCHUM, Idaho--(BUSINESS WIRE)--Dec. 15, 1998--Aqua Vie Beverage
Corporation (OTC BB:AVBCD), announced today that it has made a formal
request to the Depository Trust Corporation (DTC), the firm that holds
most of Aqua Vie's stock in street name, to return all old Aqua Vie
stock certificates with Cusip number 03838F-10-8 to the Company, in
exchange for the new post reverse Aqua Vie certificates with Cusip
number 03838F-20-7.
This formal request is pursuant to Aqua Vie's previously
announced 1 for 5 reverse stock split that took effect on November
16th. This request was also made to individual shareholders of Aqua
Vie and all other known organizations holding Aqua Vie shares. (It is
requested that these certificates be returned to the attention of Pam
Grey, Atlas Stock Transfer 5899 South State Street, Salt Lake City,
Utah 84107.
As previously announced, the Board of Aqua Vie Beverage
Corporation held a meeting on November 13th whereby the above
mentioned 1 for 5 reverse split of its stock was discussed and
approved. As announced on November 16th, this reverse stock split was
one part of the corporate restructuring needed to facilitate a capital
structure that would provide common stock for the planned late 1998
and early 1999 financing arrangements, to acquire the services of
certain individuals, and to provide adequate funding to facilitate the
1999 World Wide Sales and Marketing Campaign.
Additionally, many shareholders that have held their shares for
several years may have received a notice from the bankruptcy trustee
concerning a hearing to be held on December 29, 1998. The purpose of
this hearing is for the court to review and approve the trustee's and
his attorney's final fees and expenses. Today's Aqua Vie Beverage
Corporation, as it is now restructured, is not a party in this matter
as this hearing only concerns the "old" corporation. The shareholders
in the old corporation, whose investment positions were effectively
eliminated in late 1997, pursuant to a court ordered bankruptcy
liquidation sale, have had an ownership position renewed in the new
Aqua Vie Beverage Corporation as one part of the corporate
restructuring.
Tom Gillespie, President and Founder of the Aqua Vie Beverage
Corporation stated that, "We were provided the ability and the
opportunity to allow the public shareholders in the old Aqua Vie, to
become shareholders in the new Aqua Vie, and decided that on behalf of
the many loyal investors who have been long time supporters of Aqua
Vie throughout the development and initial distribution of it's
Functional Beverage Product Lines, to do just that."
Aqua Vie produces Hydrator(tm) low calorie all natural product
line of seven lightly flavored non-carbonated spring waters, which
were designed to increase one's personal consumption of water. The
underlying technology also serves as the new delivery system for Aqua
Vie's "nutritionally fortified" E Line(tm): Elixir(tm), Empower(tm),
and Ecstasy(tm), its nutritionally specific Aquaceuticals(tm), and
Aqua Vie's Non-Alcoholic Wine Beverages made from spring water.
For further information on Aqua Vie Beverage Corporation, visit
our Web site at: aquavie.com.
This release may contain forward-looking statements that involve
risks and uncertainties including, without limitation, continued
acceptance of the company's products and services, increased levels of
competition, new products and technological changes, the company's
dependence upon financing, third-party suppliers and intellectual
property rights, and other risks as may be detailed from time to time
in the company's federal filings, annual report, offering memorandum,
or prospectus.
--30--MC/se*
CONTACT: Aqua Vie Beverage Corporation
Investor Relations: Jim Parker, 888/766-3425
KEYWORD: IDAHO CALIFORNIA
INDUSTRY KEYWORD: FOODS/BEVERAGES
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