TORONTO, Oct. 2 /PRNewswire-FirstCall/ -- http://www.hattrickdrinks.com/ (Pink Sheets: HKBV - News) Hat Trick Beverages is pleased to announce that it is returning 500 million shares to Treasury. This represents a reduction of over 25% of the outstanding shares.
These shares were originally issued allocated towards the acquisition of distribution rights for Lamborghini Beverages for North America and Palm Beach Specialty Coffee. We have also put acquisition plans for Palm Beach Specialty Coffee on the shelf indefinitely, and terminated the Lamborghini Master Licensing accord.
Hat Trick Beverage CEO, Sender Vaiser explains; "The Lamborghini Beverages were targeted specifically to the European Market. Unfortunately, we could not come to terms on packaging and exclusive distribution rights for the North American market. With the planned acquisition of the Italian beverage factory announced yesterday, we will have in-house capabilities to develop our own line of high energy drinks, as the Italian factory has extensive facilities to develop new products and packaging to our exact specifications based on market demand.
While we maintain our belief that Palm Beach is a good fit, it is simply not the right timing as the same can be achieved with our white label brand for a fraction of the price."
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Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
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