BrewBilt Manufacturing Inc (BBRW)

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BrewBilt Chairman Approves Revenue Funded $1.5M Share Buy-Back and Shareholder Dividend Program for 2020

SACRAMENTO, CA, June 30, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Today BrewBilt Manufacturing Inc. (the “Company”) (OTCPINK: BBRW), announced the approval in repurchasing of $1.5M shares of stock by the company using our own revenue, in addition to a dividend reinvestment program which will allow the shareholders the option of reinvesting the amount of a declared dividend into additional common shares of BrewBilt. The company will utilize its own revenues in repurchasing shares for the buy-back.

Jef Lewis, Chairman and CEO, stated, “We are putting our money where our mouth is. We have had a very strong 2nd quarter ending June 30, 2020, while managing to stabilize the over-all business during the first quarter with our merger and Covid19 crisis. During the first quarter of 2020 with Covid19, BrewBilt was not an ‘Essential Company’ and we had $1.8M worth of orders on the shop-room floor when the State forced us to close our doors during Covid. We have started completing these orders and another $1.2M in order, plus another $2M in future orders during the second quarter. Our share buy-back involves paying our shareholders the market value per share in order to re-absorb that portion of ownership that was previously distributed among public and private investors. This buy-back completes our note holder debt-reduction, consolidation and equity value increase. The BrewBilt share buy-back, in addition to our dividend program is a preferred way to return cash to our shareholders and relieve the dilution produced during the merger.”


https://www.otcmarkets.com/stock/BBRW/news/story?e&id=1634924