RushNet, Inc. Announces Increase of Book Value of Its Investment into Meritage Beverage Group of California
Ticker Symbol: U:RSHN
BLUE ISLAND, Ill. -- (Business Wire) -- July 21, 2006
Chicago-based RushNet, Inc. (Pink Sheets:RSHN), brand
owner of e-water(TM) and the marketing company for Rush Beverage Co.
announces an increase in the book value of its investment into
Meritage Beverage Group of CA. A year ago, RushNet made a cash
infusion into Meritage Beverage Group for 5% ownership.
¶ In his investment report to RushNet, Meritage's President and CEO,
Jim Clements, was pleased to inform the increase of the book value of
RushNet's investment into Meritage by approximately 25%. Further to
the reporting is the following:
-0-
*T
Gentlemen,
1. We have over 10,700 case of our own brand of delSol wines that
we blended, and bottled.
2. Meritage is 50% owner of Global-e-Selections and we have sold
15 containers of our Italian wines this year.
3. We are working with a Canadian Company and making a
presentation next month for our new Tetra Prisma Organic
portfolio of wines.
4. We have a new contract with the Swedish Monopoly for 12,500
cases which will provide $345,000 per year in revenue to
Meritage.
5. We have begun making full presentations and tastings with all
of the major retail chains.
*T
¶ RushNet CEO Bob Corr, comments, "The investment into Meritage is
paying off. Not only with the increase in the value of the investment,
but more so, with the increase in the Meritage brand recognition in
the international market place, Jim is doing a fine job. Refining his
sourcing and importing skills with bulk wines from around the world,
he has increased sales of his custom and in-house bottled wine brands
as well. We also continue to move forward together to collaborate on
the completion of our herbal wine line's development. The years of
hard work are finally bearing fruit".
¶ Disclaimer: The Company relies upon Safe Harbor Laws of 1933, 1934
and 1995 for all public news releases. Statements, which are not
historical facts, are forward-looking statements. The company, through
its management, makes forward-looking public statements concerning its
expected future operations, performance and other developments. Such
forward-looking statements are necessarily estimates reflecting the
company's best judgment based upon current information and involve a
number of risks and uncertainties, and there can be no assurance that
other factors will not affect the accuracy of such forward-looking
statements. It is impossible to identify all such factors. Factors
which could cause actual results to differ materially from those
estimated by the company include, but are not limited to, government
regulation; managing and maintaining growth; the effect of adverse
publicity; litigation; competition; and other factors which may be
identified from time to time in the company's public announcements.
Contacts:
RushNet, Inc.
Robert Corr, 708-389-6625
rushbev@gmail.com
www.enjoytherush.com
or
Christie Communications
Tim Sanchez, 805-962-1347
tsanchez@christiecomm.com
AI
***
***
