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:
(http://www.brewbiltbrewing.com) and (http://www.brewbiltbrewhaus.com)
Located in the Sierra Foothills of Northern California, BrewBilt Brewing Company produces its own commercial line of premium craft beers with retail distribution in northern California. A 2023 California State Fair Gold Medal winner, BrewBilt beers are inspired by European brewing tradition and American craft innovation that that reflect a sense of place and a shared brewing philosophy for the customer’s ultimate drinking pleasure. The Company uses regionally-sourced local malt, premium hops, and pristine water that provides a dynamic palette for distinctly satisfying beers.
FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. The forward-looking statements are based on management's expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include, without limitation, the Company's ability to effectively execute its business plans; unforeseen construction delays; the Company's need for additional capital; changes in general economic and financial market conditions; changes in the competitive environment; litigation; losses, customer bankruptcy, claims and assessments; and regulatory or legislative requirements affecting the Company's business. Management may elect to update forward-looking statements at some future point; however, it specifically disclaims any obligation to do so.
Contact:
Bennett Buchanan, CEO
BrewBilt Brewing Company
(530) 206-0420
Info@BrewBiltBrewing.com
Source: BrewBilt Brewing Company
