ORLANDO, Fla., July 2, 2007 (PRIME NEWSWIRE) -- On June 26, 2007, RedChip issued a press release on Leading Brands. In paragraph four, sentences three and four, the release contained information regarding contracts with supermarkets and provided an estimate on the number of bottles LBIX expects to ship. These statements are incorrect or indicate that the company is providing forward looking guidance. In either case, we have removed this portion of the previous press release.
RedChip Independent, a division of RedChip Companies, Inc., announced today that it has issued a revised research update on Leading Brands Inc. (Nasdaq:LBIX).
Holmes Osborne, CFA, RedChip Research Analyst, wrote in the report:
"Leading Brands has won a contract with 7-Eleven(r) to introduce its TrueBlue(r) juice to 5,300 7-Eleven(r) stores. 7-Eleven(r) will carry two flavors in sixteen ounce bottles: blueberry and blueberry pomegranate. 7-Eleven(r) has 7,300 total stores in North America.
"Proprietary drinks revenues for Leading Brands grew 89.7 percent year over year as of last quarter. In addition, to 7-Eleven, Leading Brands also recently won a contract with Kroger. This is significant exposure for the Company and could lead to a snowball effect with other store managers adding Leading Brands to their product lineup."
About Leading Brands
Leading Brands develops, markets, bottles, and distributes its own line of beverages. It also has licenses to package, distribute, and market a number of brands including Hansen's and Fiji Natural Artesian Water(tm). Leading Brands is the only North American company to be fully vertically integrated; it is involved in all processes when it comes to making its drinks. These processes include product development, packaging, logistics, distribution, and marketing. Leading Brands' proprietary drinks include: TrueBlue(tm), Brand X Originals(tm), Infinity(tm) Sparking Mountain Spring Water, Soy2o(tm), TREK(tm) Optimized Performance Beverages, Caesar's Caesar Cocktail(tm), Cool Canadian(tm) Mountain Spring Water, and Country Harvest(tm) Natural Juices.
About RedChip Companies, Inc.
RedChip Companies is an international small-cap research and financial public relations firm with offices in Beijing and Orlando and affiliates in New York and San Diego. RedChip delivers measurable results for its clients through its extensive international market expertise as well as its comprehensive platform of products: RedChip Research(tm), Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences held throughout the United States, and RedChip Radio(tm). To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/services.asp.
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