Business
ISBG Prepares to File S-1 Registration Statement
ISBG Prepares to File S-1 Registration Statement.
About this update from Blockquarry Corp.
[{"type":"text","content":"\n\n LAS VEGAS, June 19, 2017 (GLOBE NEWSWIRE) -- International Spirit and Beverage Group Inc., (a Nevada Corporation) (OTCPK:ISBG) is excited to announce that the Company has signed an engagement letter with its council to begin preparations to file a registration statement on Form S-1 to be submitted to the Securities & Exchange Commission (SEC). The Company has come to terms with an underwriter and is fine-tuning the details of the agreement. ISBG will announce the name of the underwriting firm and the date the registration will be filed with the SEC in a subsequent press release.\n Proceeds from the proposed offering will provide ISBG with the key working capital and financial flexibility to properly support our brands and execute our plans. Our primary objective will be to support our Besado brand, improving production facilities, supporting national expansion, and engaging within key export markets. The global tequila market is expected to generate a revenue of more than USD 9 billion by 2021, according to Technavio’s latest market research. The premium segment dominated the market with close to 42% of the market share in 2016. “Consumers are demanding innovative and exotic flavors in their drinks. The introduction of new flavors by major players to cater to the changing taste preference of consumers is boosting the demand for tequila,” says Manjunath Reddy, a lead alcoholic beverages research expert from Technavio further emphasizing the availability of innovative products and launch of flavored tequila will further drive the tequila market in the Americas during the 2017-2021 forecast period. Besado clearly answers this call. “We will domestically fill the 60,000 bottles already produced and warehoused in China, then move to complete our Besado line extension, adding both a Reposado and Anejo produced at a new distillery in Mexico. Funding will further permit research and development to re-engineer our Dziaq brand, as well as to potentially secure new strategic acquisitions,” said CEO Terry Williams.   “This has been a long-time Company goal that is now quickly materializing with the prospect of swiftly attaining fully reporting status following completion of the audit by M & K CPAs,” continued Williams. “To be successful in the alcoholic beverage industry, you...