CENTR Brands Corp. Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - October 1, 2019) - CENTR Brands Corp. (CSE: CNTR) (FSE: 303) (the "Company") announced today its financial results for year ended May 31, 2019. Selected financial information for the year is set forth below (with the full financial statements for the year and the related management's discussion and analysis ("MD&A") available under the Company's SEDAR profile at www.sedar.com):
|Net Loss per Share||$||(0.09||)|
The Company is also pleased to provide an update on the following corporate strategic initiatives:
California Distribution Agreement - the Company is pleased to announce that it has entered into an agreement with Alluvial Wines, Inc. ("Alluvial") to distribute CENTR in California. Headquartered in Orinda, Alluvial is a broker and wholesale company focusing on unique beverages and artisanal wine producers from CA, the Pacific Northwest, and around the world.
California and Nevada Merchandising Agreement - in addition to gaining Alluvial's distribution in California, the Company announces that it has retained Davis Merchandising to assist with restocking and in-store merchandising support in California and Nevada. Based in Huntington Beach, CA and family owned and operated, Davis Merchandising has over 20 years of field experience merchandising and setting displays for Fortune 500 companies.
DTC Eligibility. The Company's shares are now eligible for electronic clearing and settlement in the United States through the Depository Trust Company ("DTC"). DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Access to DTC's range of clearing and settling services gives the Company greater exposure to the U.S. capital markets while at the same time offers various services including greater transparency of the Company's shares. DTC services provide cost benefits for investors and brokers trading Canadian securities in the United States.
Frankfurt Stock Exchange. Finally, the Company's shares recently began trading on the Frankfurt Stock Exchange under the trading symbol "303" and security code "A2PFY0".
Joseph Meehan, the Company's President and Chief Executive Officer, said "CENTR continues to build momentum behind our brand and extend our reach. Alluvial Wines is a great distributor in California; Davis Merchandising is a proud family business and a top-tier merchandising group. We are excited to work with them both to help more Californians and Nevadans find their CENTR. DTC eligibility and the ability for our shares to trade in Europe on the Frankfurt Stock Exchange are both important parts of our corporate professionalization - exposing our company to more investors, notably in the country where CENTR is sold and enjoyed."
About CENTR Brands Corp. CENTR Brands Corp. is involved in the development and marketing of beverages infused with hemp-derived extracts and derivatives. The Company is focused on the creation and launch of a global brand for the cannabidiol (CBD) infused beverage market. The Company's first product, named CENTR, is a sparkling, low-calorie, CBD beverage.
For further information, contact Joseph Meehan at 1.604.733.1514.
On behalf of the Board,
CENTR BRANDS CORP.
Joseph Meehan, Chief Executive Officer
This news release may contain certain "Forward-Looking Statements" within the meaning of applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the development of the business of CENTR Brands Corp., the timing for the launch of the Company's products and other matters. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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