Blue Water Enters Into LOI for Distillation of Its Own Privately Labeled Rums
15 Januar 2014 - 2:00PM
Blue Water Global Group, Inc. (OTCBB:BLUU) announces that it has
finalized a Letter of Intent (LOI) with a family owned distillery
located on the Caribbean island of Dominica, W.I. Due to a
non-disclosure provision, the family and distillery name are being
withheld until a Definitive Agreement is executed, which is
expected to occur within the next 90 days.
Key Highlights:
- Develop and distill the three following sugarcane based rums to
be sold under the Blue Water label:
1. White Rum. A clear,
or "light", rum for use in mixed drinks that will be comparable to
Bacardi™ Light Rum |
2. Spiced Rum. A lightly
spiced rum for use in mixed drinks that will be comparable to
Captain Morgan™ Spiced Rum |
3. Holiday Spiced Rum. A
hearty spiced rum offered seasonally that will be for sipping and
mixing holiday type drinks |
- Blue Water retains exclusive rights (inclusive of recipes and
distillation process) to all privately labeled rums developed and
branded under this agreement
- Blue Water retains exclusive and unlimited worldwide
distribution rights to its privately labeled rums
- Blue Water will initially sell its rums at its Blue Water Bar
& Grill™ restaurants and through its own souvenir shops
- Blue Water will eventually negotiate separate distribution
agreements for expanded wholesale and retail sales of its rums
throughout the Caribbean Region
- The distillery is prepared to plant an additional 400 acres of
sugarcane in 2014 to accommodate Blue Water's rums
Blue Water's President and CEO, J. Scott Sitra, stated, "This is
a groundbreaking development that we are very excited to share with
our stockholders. Not only will this help us control liquor
costs at our Blue Water Bar & Grill™ restaurants, but this
development is a natural extension of the Blue Water
brand." Mr. Sitra continued, "Initially, tourists and locals
alike will be able to purchase our rums at the Blue Water Bar &
Grill™ souvenir shops. However, once a stable inventory is
established, we intend to sell the Blue Water rums island wide
through various retail and grocery stores."
About Blue Water Global Group
Blue Water Global Group, Inc. is a publicly held developer of
casual dining restaurant properties. Blue Water is currently
developing a chain of casual dining restaurants in popular tourist
destinations throughout the Caribbean under the Blue Water Bar
& Grill™ brand. Additionally, Blue Water is engaged in
making strategic equity investments in promising businesses that
are in the early stages of obtaining their own listing on the
OTCBB. For more information, visit
www.bluewaterglobalgroup.com.
* Designated trademarks and brands belong to their respective
owners.
Certain statements in this release, other than statements of
historical fact, may include forward-looking information that
involves various risks and uncertainties. There can be no
assurance that such forward-looking statements will prove to be
accurate. Actual result and future events could differ
materially from those anticipated in such statements. These
and all subsequent written and oral forward-looking statements are
based on the estimates and opinions of management on the dates they
are made and expressly qualified in their entirety by this notice.
Blue Water Global Group, Inc. ("Blue Water") assumes no
obligation to update forward-looking statements should
circumstances or management's estimates or opinions change, other
than as required pursuant to applicable securities laws. For a
description of additional risks and uncertainties, please refer to
Blue Water's filings with the Securities and Exchange Commission,
including "Risk Factors" in its Annual Report filed on Form
10-K.
CONTACT: Investor Relations Contact
Craig Fischer
786.375.0556
ir@bluewaterglobalgroup.com
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