New Out....
News for 'VVWT' - (Viva World Trade Announces Corporate Update)
PUERTO VALLARTA, Mexico, Aug 17, 2007 (PrimeNewswire via COMTEX) -- Viva World
Trade, Inc. (Pink Sheets:VVWT) and its Mexican subsidiary Canmex Imports (the
"Company", "Viva" or "Canmex"), an importer and distributor of premium alcoholic
and non-alcoholic beverages in Mexico, are pleased to provide this corporate
update to shareholders regarding its recent business developments.
The Company has closed the previously announced Funding Agreement (see VVWT
Press Release dated May 17, 2007). The first tranche of $250,000 of the equity
financing was completed with an accredited investor and original shareholder of
the Company. The balance of the proposed financing was not completed as
anticipated.
Viva and Canmex are now proceeding with their intention to advance the proposed
funding and development of the Local UNO Brewery. The brewery and bottling
facility will produce Viva's Local UNO brand premium craft-style beers for the
Mexican domestic market and international export.
Viva's unique Local UNO Beer formulations are produced through an exclusive
agreement with Kosako Brewery (Mexico) and are currently available only in keg
format. The construction of a dedicated Local UNO brewery and bottling facility
will position the Company to profit from the rapidly growing global demand for
Mexican brews.
World-wide demand for Mexican beer has never been higher. In the U.S., Mexican
beer leads all other imports by a wide-margin, accounting for over 35% of the
U.S. import market last year. Mexican beer has also seen its popularity and
demand grow across Europe and Asia.
Planning, engineering, and design of the facility have been completed and the
Company has received letters outlining favorable land and tax concessions from
both State and local governments. As designed, the Local UNO Brewery will have
the capacity to produce 3.5 million cases per year and cost approximately $14
million to construct (land and facility).
The Company is currently working with and seeking potential industry partners
and investors to secure full funding for construction of the facility prior to
project commencement.
About Viva World Trade, Inc.
Viva World Trade, Inc. is an importer and distributor of premium alcoholic and
non-alcoholic beverages in Mexico. Viva and its Mexican subsidiary Canmex
Imports are the exclusive importer and national distributor of the "mike's hard
lemonade" brand family. "mike's hard lemonade" is one of North America's
favorite and most successful flavored alcoholic beverages. The Company is also
an authorized vendor and distributor for ROCKSTAR Energy Beverages. The ROCKSTAR
brand family is a leader in the multi-billion dollar energy drink market. Viva
World Trade, Inc. shares are traded over-the-counter on the Pink Sheets --
Trading Symbol: VVWT.
To learn more about Viva World Trade, Inc., visit www.vivaworldtrade.com
Disclaimer: Portions of this press release include "forward-looking statements,"
which may be understood as any statement other than a statement of historical
fact. Forward-looking statements contained in this press release are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These statements are based on management's current
expectations and are subject to uncertainty and changes in circumstances. Actual
results may vary materially from management's expectations and projections
expressed in this press release.
This news release was distributed by PrimeNewswire, www.primenewswire.com
SOURCE: Viva World Trade, Inc.
By Staff
CONTACT: Mercantile Ascendency, Inc. Thomas Collins, Investor Relations (214) 461-3500 tcollins@mercantileascendency.com Viva World Trade, Inc. Neil Mikkelsen, President & CEO (52) 322-209-0837 contacto@canmeximports.com
(C) Copyright 2007 PrimeNewswire, Inc. All rights reserved.
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INDUSTRY KEYWORD: Beverages (Alcoholic)
SUBJECT CODE: BEVERAGES
FINANCING AGREEMENTS
Product Services Announcement
Financing Agreements
Source: Comtex Wall Street News
