WASHINGTON, April 18, 2017 /PRNewswire/ -- Affinity Beverage Group, Inc. (OTC Pink: ABVG) (the Company), a holding company that focuses on branded consumer product acquisition and distribution opportunities in the health and wellness sector, CEO Janon Costley is pleased to provide the following corporate updates and milestones:
- The Company's acquisition of organic, vegan chocolate brand, Undone Chocolate is set to close by the end of April. More details regarding Undone, including updates on newly added domestic and international customers will be made available upon closing.
- The Company has satisfied a significant portion of its debt obligations associated with the acquisition of Village Tea Company as well as other outstanding Company debt.
- Internal forecasts for Q2 2017 continue to strengthen as the company ramps up operations across all business lines including reviewing additional acquisition opportunities.
- The Company is now current with its Quarterly filings and is working on completion of Q1-2017.
Village Tea Company, a wholly owned subsidiary, is in the process of launching several new initiatives, including Green Road Wellness Hemp Infused Loose Leaf Tea. The company is currently finalizing the packaging design and the initial assortment. Further details regarding the progress of all Village Tea initiatives will be provided in the coming days.
Affinity Beverage Group will continue to explore additional opportunities to expand and grow its health and wellness platform in an effort to create maximum value for its shareholders.
About Affinity Beverage:
Affinity Beverage Group, Inc. (www.affinitybeverage.com) is a holding company that focuses on branded consumer product acquisition opportunities in the $3.4 trillion health and wellness sector. Affinity primarily targets lifestyle brands, companies, and/or exclusive product distribution rights focusing on traditional and non-traditional, healthy beverage options. Affinity will also seek opportunities involving uniquely positioned young brands specializing in all natural/organic foods, bio-food, supplements and personal care products for strategic partnerships, distribution agreements and potential acquisition.
About Village Tea Company:
Village Tea Distribution Company, Inc. (www.villageteaco.com) sources high-quality, unique teas with distinct flavor combinations and packages them under its Village Tea Company brand name in a variety of creative and earth-friendly ways. The Village Tea Company brand is currently sold in many major retailers throughout North America. The Company is no longer just about tea, as it is also using its unique positioning in the marketplace to create a distribution platform to introduce other complimentary health and wellness lifestyle brands and products to the US market.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above.
Source: Village Tea Company/Affinity Beverage Group
FB: Village Tea Company
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SOURCE Affinity Beverage Group, Inc.