Blue Water enters into LOI for distillation of its own privately labeled rums
Blue Water Enters Into LOI for Distillation of Its Own Privately Labeled Rums
Blue Water Will Offer Three Rums Under Its Own Label With Exclusive Worldwide Distribution Rights
CANTON, (GLOBE NEWSWIRE via COMTEX) — Blue Water Global Group, Inc. BLUU +12.07% announces that it has finalized a Letter of Intent (LOI) with a family owned distillery located on the Caribbean island of Dominica, W.I. Due to a non-disclosure provision, the family and distillery name are being withheld until a Definitive Agreement is executed, which is expected to occur within the next 90 days.
Key Highlights:
— Develop and distill the three following sugarcane based rums to be sold under the Blue Water label:
1. White Rum. A clear, or “light”, rum for use in mixed drinks that will be comparable to Bacardi(TM) Light Rum
2. Spiced Rum. A lightly spiced rum for use in mixed drinks that will be comparable to Captain Morgan(TM) Spiced Rum
3. Holiday Spiced Rum. A hearty spiced rum offered seasonally that will be for sipping and mixing holiday type drinks
— Blue Water retains exclusive rights (inclusive of recipes and distillation process) to all privately labeled rums developed and branded under this agreement
— Blue Water retains exclusive and unlimited worldwide distribution rights to its privately labeled rums
— Blue Water will initially sell its rums at its Blue Water Bar & Grill(TM) restaurants and through its own souvenir shops
— Blue Water will eventually negotiate separate distribution agreements for expanded wholesale and retail sales of its rums throughout the Caribbean Region
— The distillery is prepared to plant an additional 400 acres of sugarcane in 2014 to accommodate Blue Water’s rums
Blue Water’s President and CEO, J. Scott Sitra, stated, “This is a groundbreaking development that we are very excited to share with our stockholders. Not only will this help us control liquor costs at our Blue Water Bar & Grill(TM) restaurants, but this development is a natural extension of the Blue Water brand.” Mr. Sitra continued, “Initially, tourists and locals alike will be able to purchase our rums at the Blue Water Bar & Grill(TM) souvenir shops. However, once a stable inventory is established, we intend to sell the Blue Water rums island wide through various retail and grocery stores.
About Blue Water Global Group
Blue Water Global Group, Inc. is a publicly held developer of casual dining restaurant properties. Blue Water is currently developing a chain of casual dining restaurants in popular tourist destinations throughout the Caribbean under the Blue Water Bar & Grill(TM) brand. Additionally, Blue Water is engaged in making strategic equity investments in promising businesses that are in the early stages of obtaining their own listing on the OTCBB. For more information, visit www.bluewaterglobalgroup.com .
* Designated trademarks and brands belong to their respective owners.
Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Blue Water Global Group, Inc. (“Blue Water”) assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change, other than as required pursuant to applicable securities laws. For a description of additional risks and uncertainties, please refer to Blue Water’s filings with the Securities and Exchange Commission, including “Risk Factors” in its Annual Report filed on Form 10-K.
CONTACT: Investor Relations Contact
Craig Fischer
786.375.0556
