Premier Beverage Group Corp (fka PBGC)

[~BC~]

NEWS JUST OUT! PBG Shareholder Update

http://ih.advfn.com/p.php?pid=nmona&article=52426383

Date : 05/15/2012 @ 3:12PM
Source : PR Newswire
Stock : Premier Beverage Grp Crp (PL) (PBGC)

Premier Beverage Group (OTC: PBGC) has released the following letter to shareholders from its President, Fouad Kallamni.

Dear Shareholders,

I wanted to update you on our progress and the status of our public filings.

The last few months have been challenging for us due primarily to financing constraints. Our existing products continue to sell as they always have in our key NYC accounts; however, we have been unable to secure sufficient capital to enter into production of our newly designed products. While we have been presented with many proposals from parties seeking to use our shares and liquidity as the basis for providing this capital, we believe it is in the best interest of all of our shareholders to reject these proposals in favor of long term patient capital.

Upon completion of these financing initiatives, we intend to enter into production of new products and promptly file all required reports to become current, including our 10-K for the year ended December 31, 2011 and our 10-Q for the first quarter ended March 31, 2012.

While our progress has been delayed due to financing, we still believe strongly in our business and have adjusted our plans accordingly to execute on our plan with available resources. The time has never been as right as it is now to introduce our redesigned ultra premium energy beverage packaging range. In addition, we are actively pursuing major national accounts through our Captive Brands subsidiary that can have a significant impact on our business.

Thank you for your continued support of Premier Beverage Group.

Sincerely,

Fouad KallamniPresidentPremier Beverage Group Corp.

About Premier Beverage GroupPremier Beverage Group (OTC: PBGC) is a holding company that – through its subsidiaries, OSO Beverages and Captive Brands – owns, develops, markets and distributes premium functional beverages. Premier Beverage Group's flagship brand, OSO, is a premium energy beverage offered primarily in on-premise venues. OSO, offered in both original and light flavors, is produced in Austria using only the finest ingredients – resulting in a clear, crisp energy beverage and an up-market consumer experience. Captive Brands provides a turnkey private label program for retailers seeking to offer functional beverage and related products. For more information on Premier Beverage Group, please visit www.premierbeveragegroup.com. For more information on OSO Beverages, please visit www.osobeverages.com.

This press release, within the meaning of the Private Securities Litigation Reform Act of 1995, contains forward-looking statements involving known and unknown risks, delays, and uncertainties that may cause our actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, delays, and uncertainties include, but are not limited to: risks associated with the uncertainty of future financial results, our reliance on a limited number of suppliers, the limited diversification of our product offerings, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, as well as the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.

For more information, contact:

Investor Relations(646) [e-mail]

SOURCE Premier Beverage Group