Added DKAM again Mark, 3.39 +.19 here/news out this morning: Drinks Americas Completes $8 Million Private Placement
Thursday February 1, 7:00 am ET
Proceeds to Accelerate Marketing of Product Lines
WILTON, CT--(MARKET WIRE)--Feb 1, 2007 -- Drinks Americas Holdings, Ltd. (OTC BB:DKAM.OB - News) ("Drinks Americas" or the "Company"), an increasingly prominent developer and marketer of premium alcoholic and non-alcoholic beverage brands associated with icons, announced today that it has fully funded its marketing, sales and promotional program for its product lines. The Company stated that it has completed an institutional private placement of $8 million in common stock through Midtown Partners & Co., LLC, with all details of the equity financing being contained in yesterday's filing with the Securities and Exchange Commission on Form 8K which is available on www.sec.gov.
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J. Patrick Kenny, CEO of Drinks Americas, stated, "This new capital ensures that Drinks Americas is equipped to execute our business plan on an accelerated basis and support and grow each of our icon brands. This equity funding establishes a strong net worth and, together with our credit facilities at BACC/Sovereign Bank, positions the Company to anticipate and meet product demand, have substantial marketing resources, and provide for our corporate working capital needs. Whether it be the continued rapid growth of our Trump Super Premium Vodka or the anticipated re-launch of our newly acquired Rheingold Beer, this capital assures the unfettered growth of our products and our company."
The Company also announced that its Trump Super Premium Vodka, launched in October 2005, is now available in 27 states and several international duty free markets. Mr. Kenny described last week's successful launch of Trump Vodka in southern and northern California by Kendall Jackson Winery, one of the Company's distribution partners. The Company further stated that it anticipates expanding its Trump Vodka to all 50 states over the next several months.
Mr. Kenny continued, "Drinks Americas has recently shipped over 25,000 cases of its non-alcoholic beverages including Newman's Own Lightly Sparkling Fruit Juice Drinks and Flavored Waters to selected markets in the Northeast and the West Coast. The Company will expand this part of its portfolio to include fifteen products, all rolling out during 2007 to all 50 states. We are particularly excited about the prospect of rapid and deep market penetration through our joint venture with Beyer Farms/Tuscan Dairy and the further distribution relationships arising out of that joint venture."
The Company further described how its various portfolio products will now accelerate their promotional marketing campaigns. For example, the Company's Willie Nelson's Old Whiskey River Bourbon will be supported with campaigns in Texas, Florida, Tennessee, and North Carolina. Damiana Liqueur, which is growing at a very rapid sales rate, will continue to be marketed as a perfect topper to a margarita, and the Company will actively support its award-winning Cohete Rum and Aguila Tequila.
About Drinks Americas
Drinks Americas develops, owns, markets, and nationally distributes alcoholic and non-alcoholic premium beverages that are often associated with renowned icon celebrities. Drinks' portfolio of premium alcoholic beverages includes Donald Trump's Trump Super Premium Vodka, Willie Nelson's Old Whiskey River Bourbon and Bourbon Cream. Drinks non-alcoholic brands include the distribution of Paul Newman's Own Lightly Sparkling Fruit Juice Drinks and Flavored Waters.
Other products owned and distributed by Drinks Americas include award-winning Damiana Liqueur and Aguila Tequila from Mexico, Cohete Rum Guarana from Panama, and Rheingold Beer. Damiana, Old Whiskey River, Aguila Tequila and Cohete Rum are Gold and Silver Medal award winners respectively from the International Beverage Tasting Institute and the San Francisco International Wine and Spirits Competition. For further information, please visit our website at www.drinksamericas.com.
NOTE TO MEDIA: For Interviews, call Charles Davidson, Drinks Americas, (203) 762-7000, Ext. 18.
Safe Harbor
Except for the historical information contained herein, the matters set forth in this press release, including the description of the company and its product offerings, are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the historical volatility and low trading volume of our stock, the risk and uncertainties inherent in the early stages of growth companies, the company's need to raise substantial additional capital to proceed with its business, risks associated with competitors, and other risks detailed from time to time in the company's most recent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.
Contact:
Investor Relations Contacts:
Stanley Altschuler / Ryan Daniels
Strategic Growth International
150 East 52nd Street, 22nd Fl.
New York, NY 10022
(212) 838-1444
Email Contact
Public Relations Contact:
Michael Smith
Rubenstein Public Relations
1345 Avenue of the Americas
30th Floor
New York, NY 10105-0109
(212) 843-8328
Email Contact
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Source: Drinks Americas Holdings, Ltd.
Making new highs lately...tuna |
