BrewBilt Manufacturing Inc (BBRW)

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SACRAMENTO, CA, Oct. 28, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- Today BrewBilt Manufacturing Inc. (the “Company”) (OTCPINK: BBRW), announced that the company management, legal team and auditing team have agreed to increase the share buyback from $1.5M to $5M, while its revenues continue to expand.

Jef Lewis, CEO, stated, “I am sensitive to the shareholders who want information on our share buyback program. The share buyback is in progress, and we will be increasing the buyback up to $5M through 12/31/2021 in order to repurchase more than 70% of our float. This buyback in conjunction with expanding revenue will assure a more concrete equity floor for our shareholders. This week BrewBilt received $1.2M in new customer orders for brewery equipment and an order for cannabis equipment. There is a spike in orders relative to COVID customers who have decided to move forward with their business expansion into craft beer. These orders include a $500,000 for a local bay area customer that consists of a 30 BBL system. The Europe order is a 10 BBL system for $350,000, and the Arizona order is a large 20 BBL system with additional equipment for $700,000. The cannabis equipment being sold is for $85,000 for support equipment to work with the cold water extraction system.”

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