Drinks Americas Closes $10 Million Credit Facility to Fund Sales Growth
Market Wire, June, 2006
Drinks Americas Holdings, Ltd. (OTCBB: DKAM) ("Drinks Americas" or the "Company") today announced that is has closed an asset-based, revolving financing facility with Business Alliance Capital Company ("BACC"), a division of Sovereign Bank, to provide Drinks Americas with up to $10 million to fuel and support the rapid growth of the Company's product lines.
Drinks Americas recently announced that it has orders and commitments in the initial stages of its launch for $5 million of its new Trump Super Premium Vodka. Drinks is expanding the marketing of Newman's Own Sparkling Fruit Juice Drinks, and is adding distribution Newman's Own Sparkling Flavored Water and Newman's Own Fruit Tea lines to its portfolio.
Drinks Americas continues its strategy of marketing premium beverage brands associated with icons. Drinks expects to launch Trump Super Premium Vodka this summer.
Patrick Kenny, CEO of Drinks Americas, said, "The credit facility from BACC, combined with our purchase order financing facility from Production Finance International announced last week, positions Drinks Americas to grow at a rapid pace in the coming year."
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 Willie Nelson's Old Whiskey River Bourbon and Bourbon Cream, Rheingold Beer and Roy Yamaguchi's Y Sake. Drinks' non-alcoholic brands include the distribution of Paul Newman's Own Lightly Sparkling Fruit Juice Drinks.
Other products owned and distributed by Drinks include Damiana, the Mexican liqueur; Aguila Tequila; Norman's Wines from Australia's oldest winery; Drinks' award-winning Cohete Rum Guarana from Panama; 1812 Beer from Sackets Harbor Brewery; and Swiss T.
Old Whiskey River, Y Sake, Damiana, 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 .
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: Fredrick Schulman 212-686-1515 Stanley Altschuler Strategic Growth International 212 838-1444
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