Clearly Canadian Acquires Distribution Rights For U.S. Northeast; Company Now Controls Entire North American Brand Distribution.VANCOUVER, British Columbia--(BUSINESS WIRE)--June 3, 1998-- Clearly Canadian Bev(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CLV (Constant Linear Velocity) Rotating a disk at varying speeds. By changing speed depending on which track is being accessed, the density of bits in each track can be made uniform. .) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CLCDF) Clearly Canadian Beverage Corporation (TSE: CLV; NASDAQ: CLCDF) announced today that effective May 29, 1998 the Company's U.S. subsidiary, Clearly Canadian Beverage (U.S.) Corporation ("Clearly U.S.") has completed the acquisition of the distribution rights for Clearly Canadian beverage products for the states of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey, Pennsylvania, Virginia, Delaware, Maryland and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . This acquisition completes Clearly Canadian's strategic goal to re-acquire control of its North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. distribution system. Clearly Canadian and Clearly U.S. are now directly involved in the distribution of Clearly Canadian products in all 50 states and in all Canadian provinces and territories. "The acquisition of distribution rights from our last remaining master distributor signals a new era for Clearly Canadian's operations. Through our new network of "Company Managed Territories," we now have direct control over the distribution and marketing of Clearly Canadian products across North America. Our acquisition of distribution rights for the Northeastern U.S. market allows us to improve customer focus and to re-invest revenues into Clearly Canadian's marketing efforts in one of North America's largest, and most dynamic, regional consumer markets," said Douglas L. Mason, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Clearly Canadian Beverage Corporation. Clearly U.S. acquired these latest distribution rights from the Company's former master distributor, Chatham Imports, Inc. of New York ("Chatham"). The purchase price for the buy-out of the distribution rights was based upon the number of cases of product sold by Chatham during 1997 and is payable in three equal installments (one-third paid on May 29, 1998 and one-third payable on each of September 30 and December 31, 1998). Clearly Canadian is a leading producer of premium beverages, including Clearly Canadian(R) sparkling flavoured water, REfresher and Orbitz(TM), which are distributed extensively in the United States, Canada and numerous countries worldwide. Clearly Canadian also owns Cascade Clear Water Co., which produces a line of alternative beverages, including Cascade Clear Refresher, Mountain Spring Water, Premium Drinking Water drinking water supply of water available to animals for drinking supplied via nipples, in troughs, dams, ponds and larger natural water sources; an insufficient supply leads to dehydration; it can be the source of infection, e.g. leptospirosis, salmonellosis, or of poisoning, e.g. and Distilled Water for retail sale in North America and the Pacific Rim, and operates a home/office water delivery business in the U.S. Pacific Northwest. Statements in this news release that are not historical are to be regarded as forward-looking statements which are subject to risks and uncertainties and that could cause actual results to differ materially. Such risks and uncertainties with respect to Clearly Canadian's business include general economic conditions, changing beverage consumption trends of consumers, pricing and availability of raw materials, and political and economic uncertainties, including currency fluctuation in the countries in which Clearly Canadian carries on business. CLEARLY CANADIAN BEVERAGE CORPORATION is the registered holder of the trademark CLEARLY CANADIAN(R). CLEARLY CANADIAN BEVERAGE CORPORATION, and its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , manufacture, distribute and market CLEARLY CANADIAN(R), CLEARLY TEA(TM), CLEARLY 2(TM), CLEARLY CANADIAN QUENCHER quench tr.v. quenched, quench·ing, quench·es 1. To put out (a fire, for example); extinguish. 2. To suppress; squelch: (TM) and ORBITZ(TM) flavoured and unflavoured beverage.
CONTACT: Clearly Canadian Beverage Corporation
Kelly Lendvoy,
Email: klendvoy@clearly.ca
or
Clive Shallow,
Email: cshallow@clearly.ca
1-800-663-5658 (USA) or 1-800-663-0227 (Canada)
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion