Golden Grail Beverages Announces the Acquisition of UPDC Beverages

Rhea-AI Summary

Golden Grail Beverages Corp. (OTC: GOGY) has announced the acquisition of UPDC Beverages through a share exchange agreement, issuing 20,000,000 common stock shares to former owners. UPDC Beverages, a profitable co-packing company based in Naples, Florida, will become a wholly-owned subsidiary of Golden Grail.

UPDC Beverages operates a state-of-the-art facility providing co-packing services for various beverage products, specializing in bottling, canning, and filling energy drinks, carbonated beverages, functional beverages, and liquid fills from shots up to 32oz. The acquisition aligns with Golden Grail's new business strategy, focusing on acquiring seasoned operations with positive cash flow in high-growth industries.

Positive

• Acquisition of a profitable co-packing company
• Access to state-of-the-art facility in Naples, Florida
• Diversified revenue stream through multiple beverage product capabilities
• Positive cash flow from existing operations

Negative

• 20,000,000 new shares issuance causing shareholder dilution

FORT LAUDERDALE, Fla., Dec. 11, 2024 (GLOBE NEWSWIRE) -- Golden Grail Beverages Corp. (OTC: GOGY – hereinafter referred to as the “Company”), a leader in the beverage industry known for its innovative and sustainable products, has entered an acquisition agreement to purchase United Product Development Corporation, a Nevada corporation (hereinafter referred to as “UPDC Beverages”), making it a wholly-owned subsidiary of Golden Grail Beverages Corp.

UPDC Beverages is a full-service co-packing partner to commercial clients offering a variety of services for complex and functional beverages, and operates a state-of-the-art facility is in Naples, Florida (hereinafter referred to as the “Naples Facility”). UPDC Beverages is a profitable co-packing company operating under the umbrella of UPD Holding Corp. UPDC Beverages provides co-packing services for a wide range of beverage products specializing in bottling, canning and filling energy drinks, carbonated beverages, functional beverages, and liquid fills from shots up to 32oz. The Naples Facility has all the required equipment to handle multiple sizes of packaging and quantities, ensuring that its numerous clients have the flexibility they need to produce their products efficiently and cost-effectively. A view of the Naples Facility can be viewed at UPDC Beverages web site at www.UPDCBeverages.com.

Mr. Scott Lomu, GOGY CEO, states, “The Company has made its initial acquisition under our new management team as part of our recently announced new business focus. As part of this new strategy, we have entered into a share exchange agreement to acquire UPDC Beverages. Upon execution of the agreement, the Company now owns 100% of the ownership equity which will make UPDC Beverages a wholly owned subsidiary. As part of this agreement, the Company is issuing 20,000,000 shares of Common Stock to the former owners of UPDC Beverages. We believe this acquisition represents a significant initial transaction for the Company, as it aligns perfectly with our straightforward acquisition criteria: seasoned operations, positive cash flow, and a presence in a high-growth industry.”

Disclaimer Regarding Forward Looking Statements

Certain statements that we make may constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions. In addition, words such as “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,” “projects,” “forecasts,” and future or conditional verbs such as “will,” “may,” “could,” “should,” and “would,” as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties, and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements.

About Golden Grail Beverages

Golden Grail Beverages is a rapidly expanding company dedicated to acquiring, innovating, and scaling a diverse portfolio of beverages. With a focus on sustainability and consumer engagement, Golden Grail is committed to providing high-quality, energizing, and refreshing drinks to its customers. For more information, visit https://goldengrailbeverages.com/

Contact Information

1-561-800-3891
info@goldengrailbeverages.com
https://goldengrailbeverages.com/
https://www.facebook.com/GoldenGrailBeverages
https://www.instagram.com/goldengrailbeverages/
https://twitter.com/goldengrailbev

FAQ

What is the acquisition cost of UPDC Beverages by Golden Grail (GOGY)?

Golden Grail is acquiring UPDC Beverages through a share exchange agreement, issuing 20,000,000 shares of Common Stock to the former owners.

What services does UPDC Beverages provide after GOGY acquisition?

UPDC Beverages provides co-packing services for bottling, canning, and filling energy drinks, carbonated beverages, functional beverages, and liquid fills from shots up to 32oz.

How will the UPDC Beverages acquisition impact GOGY's business operations?

The acquisition provides GOGY with a profitable subsidiary, a state-of-the-art facility in Naples, Florida, and diversified revenue streams through various beverage product capabilities.

What is the strategic importance of GOGY's UPDC Beverages acquisition?

The acquisition aligns with GOGY's new business focus, meeting their criteria of acquiring seasoned operations with positive cash flow in high-growth industries.