Clearly Canadian discontinues marketing attempts in Mexico.VANCOUVER, BC--(BUSINESS WIRE)--March 24, 1995-- The Company has decided to discontinue its current Marketing efforts for Clearly Canadian This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. products in Mexico. Despite initial indications from a major distributor and positive test market results, the devaluation devaluation, decreasing the value of one nation's currency relative to gold or the currencies of other nations. It is usually undertaken as a means of correcting a deficit in the balance of payments. of the Mexican peso has made it impossible to position the brand at an economically feasible price point due to extremely high importation costs. As a result of this territory abandonment, the Company will write-off approximately US$2,200,000 (Cdn $2,990,000) for the year ended December 31, 1994. These costs relate to penalty clauses in conjunction with the cancellation of the Cuero, Texas Cuero is a city in DeWitt County, Texas, United States. The population was 6,571 at the 2000 census. It is the county seat of DeWitt CountyGR6. bottling plant Noun 1. bottling plant - a plant where beverages are put into bottles with caps industrial plant, plant, works - buildings for carrying on industrial labor; "they built a large plant to manufacture automobiles" and travel and legal costs incurred by Clearly Canadian International. The Company will continue, however, to pursue a licensing agreement to manufacture the Company's products in Mexico without any further investment by the Company. -0- ON BEHALF OF THE BOARD OF DIRECTORS Douglas L. Mason Director CLEARLY CANADIAN BEVERAGE CORPORATION is the registered holder of the trademark "Clearly Canadian(R)". CLEARLY CANADIAN BEVERAGE CORPORATION, and its wholly owned international subsidiary, Clearly Canadian Beverage (International) Corporation, produce, distribute, and market CLEARLY CANADIAN(R), CLEARLY TEA(TM), and CLEARLY 2(TM), a line of flavoured and unflavoured bottled sparkling water beverages. Through distribution and/or licensing agreements, CLEARLY CANADIAN(R) is sold throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, Japan, and the United Kingdom, the Republic of Ireland, the Caribbean and Mexico. 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. This news release was prepared by management who accept full responsibility for its content. CONTACT: Douglas L. Mason, 604/683-0312 |
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