WASHINGTON, Feb. 27, 2018 /PRNewswire/ -- Affinity Beverage Group, Inc.,(hereinafter "The Company") a publicly traded company under the ticker symbol (OTC/Pink: ABVG) announced today that one of the Company's wholly-owned subsidiaries, Village Tea Company Distribution, Inc is now able to accept the Bitcoin Crytpocurrency through BitPay, a third-party company that enables transactions between a buyer holding Bitcoin and a seller who wants U.S. dollars, for a 1 percent fee paid by the Company.
By utilizing the BitPay platform, the Company doesn't need to speculate on the exchange rate, it simply enables the owner of Bitcoins to make a purchase by running the transaction through the BitPay payment service, similar to an Apple Pay or PayPal transaction or running foreign currency though a foreign exchange financial institution in order to receive U.S. dollars for a transaction. Affinity Beverage Group has indicated that this is the first step in an overall cryptocurrency strategy that is currently being explored by the Company. Since the company's brands, which include Village Tea Company, Undone Chocolate and Jawea Frozen Desserts, primarily target millennial consumers, the Company wants to be on the cutting edge of new technology that appeals to its core customers and expects there will be more bitcoin transactions across its brand portfolio in the near future. "The ultimate goal is to enable a broader group of customers to use multiple forms of currency, in this case cryptocurrency, to purchase our products," stated Company CEO, Janon Costley.
Additionally, Affinity Beverage plans to release the 2017 Annual Financial Report within the coming month. Please continue to follow the Company for further updates regarding this announcement and other developments.
About Village Tea:
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 has been 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.
About Affinity Beverage:
Affinity Beverage Group, Inc (www.affinitybeverage.com) (OTC: Pink-ABVG) 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.
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.
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SOURCE Affinity Beverage Group, Inc.