Clearly Canadian Beverage Corp. announces new product launch, distribution and corporate developments.VANCOUVER, British Columbia--(BUSINESS WIRE)--June 6, 1996--The company wishes to announce the successful launch of its new Orbitz(TM) product line. During the week of May 24, 1996, Orbitz was launched in 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 , Boston, Cincinnati, Toledo, Dayton, Columbus and Phoenix. The Orbitz launch received considerable media and news coverage, including national coverage on "CBS (Cell Broadcast Service) See cell broadcast. This Morning", local news coverage through NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. , ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. , CBS and Fox TV networks and numerous radio stations, articles in The Wall Street Journal, Fortune, Newsweek and many newspapers and other publications. The company has been very pleased with the positive response that it has received from retailers, consumers and the media on its new Orbitz product line. Also, the company wishes to announce that it has completed its buy out transaction with one of the company's Master Distributors, Central Wholesale Liquor Co. of Nashville, Illinois ("Central"). This transaction has resulted in the company re-acquiring the exclusive distribution rights for Clearly Canadian products in the States of Kentucky, Tennessee, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , Georgia, Alabama, southern counties of Illinois, Louisiana, Arkansas, Mississippi and Florida. The purchase price for the buy out of the distribution rights from Central was based upon the number of cases of product sold by Central during the twelve month period preceding the acquisition. One-half of the purchase price was paid on the closing date (June 3, 1996) and the balance of the purchase price is payable in two equal installments (payable 30 and 60 days after the closing date). This acquisition, together with previously announced acquisitions, provides the company, and its U.S. operating subsidiary, with direct involvement in the distribution of Clearly Canadian products in 20 States and in all Canadian Provinces and Territories. These recent acquisitions provide the company with greater direct involvement and control over the distribution and marketing efforts for its products in these acquired territories. The company also wishes to announce that it has completed a previously announced (March 29, 1996) private placement involving the issuance of a total of 150,000 units at a price of $2.21 per unit. Each unit is comprised of one common share and one non-transferable share purchase warrant entitling the holder to purchase an additional common share over a period of one year at an exercise price of $2.21 per share. The company has received $331,500 in proceeds from this private placement which proceeds have been applied to working capital for product development and distribution initiatives, for prospective project acquisitions and for investment diversification. -0- On behalf of the board of directors Glen D. Foreman, director chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. -0- Clearly Canadian Beverage Corp. is the registered holder of the trademark Clearly Canadian(R). Clearly Canadian Beverage Corp., 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 beverages. Through distribution and/or licensing agreements, Clearly Canadian products are sold throughout the United States, Canada, Japan, the United Kingdom, the Republic of Ireland, the Caribbean and other countries worldwide. The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CONTACT: Clearly Canadian Beverage Corp. Glen D. Foreman, 604/683-0312 1-800-663-5658 (Toll free in U.S.A.) 1-800-663-0227 (Toll free in Canada) 604/683-2256 (Fax) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion