Carlsbad, California–(Newsfile Corp. – July 28, 2020) – Fernhill Beverage, Inc. (OTC PINK: FHBC) wishes to inform shareholders and the public that on July 24th 2020 the Company entered into an agreement (Letter of Intent) with a label manufacturer with the intent of Fernhill purchasing majority interest in the label manufacturing firm.
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The label manufacturer is located in Southern California and services customers in the Beverage industry, Cosmetic industry, Consumer Goods industry, Industrial Cleaning industry, CBD / Marijuana industry as well as other industries. The label producer has been in business for more than a decade and has developed an impressive list of clients.
The label manufacturer produces labels and point of sale materials for customers in the United States as well as Mexico. The label manufacturer specializes in “Pressure Sensitive” label manufacturing (such as the ones featured on RK Super) but also has the ability to produce “Full Wrap” labels and “Shrink Sleeve” labels. The label manufacturer currently produces labels for Fernhill”s RK Super as well as Fernhill’s Hand Sanitizer.
Fernhill Beverage sees this as an opportunity to grow revenues while controlling production costs therefore adding value and strength to The Company. The Company also believes that the consolidation of warehouse spaces along with vertical integration will create efficiencies necessary to continue growth.
Fernhill Beverage will be utilizing the month of August to complete the Due Diligence portion of the LOI. Fernhill Beverage and the label manufacturer have agreed to solicit the assistance of an independent equipment auditing firm to assess the value of the equipment and machinery of the label manufacturer.
Once a reasonable value for the equipment has been determined, the final purchase price can be agreed upon by both parties.
Fernhill Beverage and the label manufacturer are targeting a closing date of Tuesday September, 01 2020.
Fernhill Beverage is also pleased to update shareholders on the progress of RK Super’s integration into the European Market.
RK Super has begun to be sold in certain Commissaries in Europe. Distribution is still in its infancy and will not be maximizes until the end of August.
Fernhill Beverage is expecting a follow-up order in August to be delivered in late-September. Fernhill Beverage will be expecting subsequent orders roughly every 2-3 months contingent upon the sales of RK Super.
Fernhill Beverage Inc. would like to thank all The Company’s Customers, Venders, Partners and Shareholders during these trying times. Together, everyone will be stronger.
Be sure to visit our web-site: www.fernhillbev.com to see all our exciting products.
Please follow the Company on Twitter @fernhillbev. The Company will be releasing updates. Many exciting things are happening.
Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company’s future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company’s affiliates that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/60634