BrewBilt Brewing Co (BRBL)

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BrewBilt Brewing Company Annual Update

BY GlobeNewswire
— 8:00 AM ET 12/20/2023
GRASS VALLEY, CA, Dec. 20, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire –Today BrewBilt Brewing Company (the "Company") (OTCPINK: BRBL) announces the annual update from CEO Bennett Buchanan.

Buchanan stated, “I am proud to announce the recent achievements and progress made by the Company. On December 7, the Company received the "2023 Business of the Year'' award from the Grass Valley Downtown Association in recognition and appreciation for business excellence and community philanthropy. On December 10, the Company opened its new taproom BrewBilt BrewHaus located in downtown Nevada City, CA. This expansion into a taproom could potentially contribute to increased sales and customer engagement. In addition, the Company has signed a distribution agreement with Mussetter Distributing, a move that can significantly impact sales and market reach. The new distribution commences on January 5, 2024.”

The financial statements for the period ending September 30, 2023, show positive results. The Company's assets increased from $1.97 million to $2.25 million, representing a 12% increase. This growth in assets could be attributed to various factors such as increased sales, successful business strategies, and new partnerships.

The Company began selling commercial craft beer on July 19, 2022, which aligns with the reported increase in sales for the current financial period. The Company reported a substantial increase in total sales for commercial craft beer, with sales reaching $320K for the nine months ending September 30, 2023, compared to $62K in the previous year. This surge in sales is likely linked to the Company's expansion in distribution and commercial retail accounts with Albertsons/Safeway and Grocery Outlet stores.

Buchanan further stated, “We anticipate further growth in assets and revenue. The expected increase is attributed to the expanded distribution network and the revenue generated from the newly opened taproom. Overall, the Company seems to be on a positive trajectory with successful business strategies, recognition, and notable financial growth. However, it's crucial for stakeholders to monitor the Company's performance and market trends to ensure sustained success.”

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ABOUT BREWBILT BREWING COMPANY (BRBL):

(http://www.brewbiltbrewing.com) and (http://www.brewbiltbrewhaus.com)