ORLANDO, Fla., June 4, 2008 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc. today announced that it has issued a first quarter 2008 research update on Golden West Brewing Company, Inc. (OTCBB:GWBC), a leading, certified producer of organic craft beers headquartered in Chico, California.
Ekta Bhatia, MBS, RedChip Research Analyst wrote in the report:
"The recent launch of Blue Marble Organic Pilsner(tm) through a strategic alliance with Cost Plus World Market, a leading specialty retailer, establishes an impressive growth opportunity for GWBC. The launch has been made under the Company's new division, Blue Marble Brewing. The Company has almost completed the launch program at its California brewery and has started the rollout of this new brand exclusively in 270 Cost Plus stores across 28 states."
"GWBC also holds strategic brewing relationships whereby it provides contract brewing services to companies including Mateveza USA and Bison Brewing Company. The Company currently utilizes 10%-15% of its capacity for third-party brewing, adding significant revenues. The Company consistently derives nearly 30% of its revenues from third-party contract brewing," Bhatia continued.
"We believe the formidable combination with Cost Plus World Market and well-recognized organic brands will grow the Company's revenue and customer base. We continue to maintain our "Buy" rating on GWBC; however, we have reduced our 12-month target price to $1.05," Bhatia concluded.
To receive a complimentary copy of the RedChip Visibility 1Q08 Research Report for GWBC, please visit:
http://www.redchip.com/visibility/about.asp?page=vreport&reportid=114&from=06052008pr
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm with offices in Maitland, Florida; Bangalore, India; and Beijing, with affiliates in New York and San Diego. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research(tm), Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Internet TV(tm), and RedChip Radio(tm). To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/productsandservices.asp
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Disclosure
None of the profiles issued by RedChip Companies, Inc. constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Any investor should determine whether a particular security is suitable based on the investor's objectives, other securities holdings, financial situation needs, and tax status. Golden West Brewing Company, Inc. paid RedChip Visibility, a division of RedChip Companies, Inc. a fee of $29,000 in for the RedChip Visibility Research Program, which included the preparation of this equity research report. To the fullest extent permissible under applicable law, RedChip Companies, Inc. will not be liable to you or anyone else for the quality, accuracy, completeness, reliability, or timeliness of this information.