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New World Brands: New Investor Group Makes Significant Equity Capital Infusion Friday May 21, 8:25 pm ET
MIAMI--(BUSINESS WIRE)--May 21, 2004--New World Brands Inc. (OTCBB:NWBD - News) today announced that it has received an equity infusion of $1.7 million. The investment group making the investment is led by Dr. Selvin Passen, a prominent businessman based in Maryland and Florida. The investment group acquired approximately forty-eight per cent of the Company's outstanding shares. New World has appointed Dr. Passen as a Director and its Chairman. Dr. Passen is a well-known physician and prominent business executive, based in Maryland and Florida, where he was largely responsible for the development and sale of Maryland Medical Laboratory, Inc. to Corning Inc. in 1994. Dr. Passen currently owns and operates Baltimore Marine Center and Lauderdale Marine Center, which are primarily involved in boat building. Mark Weber, who has served as Dr. Passen's financial advisor in other businesses, was appointed as a New World Director and its Chief Financial Officer.
Marvin Ribotsky, New World Brand's previous chairman stated that "Dr. Passen and his investor group bring many valuable resources and opportunities to the Company. The capital will enable the Company to add new products carefully selected to fill certain market niches in the spirits industry which will broaden the Company's product lines." Mr. Ribotsky further stated that "the investor group hopes to take advantage of current Company relationships and leverage associations of the investor group to open new distribution opportunities within the United States and foreign markets, to pursue several acquisitions, increase advertising and attract qualified professionals in the beverage industry to facilitate the Company's growth."
About New World Brands, Inc.:
New World Brands, Inc. is an importer of alcoholic beverages, presently conducting business throughout the U.S. The Company's wholly owned subsidiary, International Importers, Inc., currently imports and distributes the award winning Estate Bottled wines of L.A. Cetto, Xtreme Delight Ready to Drink Spirit Based Cocktails.
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1995:
Forward looking statements in this release with respect to the Company's business, financial condition, and results of operations are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products, or service delays in testing and evaluation of product, the effect of the Company's accounting policies as well as certain risk factors, which are detailed from time to time in the Company's filings with the Securities and Exchange Commission. The wine and spirits industry is a highly competitive and fragmented. There is no assurance that the Company's products will be able to successfully compete in this market. Further this industry is subject to extensive regulation by the U.S. federal Bureau of Alcohol, tobacco and Firearms and foreign agencies, state and local liquor authorities. The Company cannot provide any assurance that future regulatory challenges will not negatively impact operations, financial condition and results of operations.
-------------------------------------------------------------------------------- Contact: New World Brands, Inc., Miami Investor Relations: Eileen Kedersha, 954-713-0410 Email: info@int4spirits.com
NWBD - NEW WORLD BRANDS (OTCBB) Date Open High Low Last Change Volume % Change 05/21/04 0.50 0.57 0.47 0.56 +0.07 430500 +14.29%
Composite Indicator Trend Spotter (TM) Buy
Short Term Indicators 7 Day Average Directional Indicator Buy 10 - 8 Day Moving Average Hilo Channel Buy 20 Day Moving Average vs Price Buy 20 - 50 Day MACD Oscillator Buy 20 Day Bollinger Bands Buy
Short Term Indicators Average: 100% - Buy 20-Day Average Volume - 84330
Medium Term Indicators 40 Day Commodity Channel Index Buy 50 Day Moving Average vs Price Buy 20 - 100 Day MACD Oscillator Buy 50 Day Parabolic Time/Price Buy
Medium Term Indicators Average: 100% - Buy 50-Day Average Volume - 59182
Long Term Indicators 60 Day Commodity Channel Index Buy 100 Day Moving Average vs Price Buy 50 - 100 Day MACD Oscillator Buy
Long Term Indicators Average: 100% - Buy 100-Day Average Volume - 44530
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maybe a dumb question...but how are you going to figure out when it will peak?
Posts: 1153 | From: northeast | Registered: Apr 2004
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you gotta feel it, you could be wrong and sell early or late. bottom line is get out ahead..
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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New World Brands: Maple Leaf Distillers Inc. Part of New Investment Group
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Business Editors MIAMI--(BUSINESS WIRE)--NWBD-- New World Brands Inc. (OTCBB:NWBD) announced today that as part of its equity financing, Maple Leaf Distillers Inc. made a $500,000 equity investment in New World Brands, for which it received 5 million shares and options to purchase 750,000 shares of New World Brands common stock. Maple Leaf Distillers presently produces Xtreme Delight Ready to Drink Coolers for New World Brands. Dr. Selvin Passen, Chairman of New World Brands also announced the appointment of Costas Ataliotis as President and CEO of New World Brands Inc. Mr. Ataliotis is also President and CEO of Maple Leaf Distillers Inc. In assuming his new role as President and CEO of New World Brands, Mr. Ataliotis commented: "During the next few months, we anticipate that New World Brands will be strengthening and adding experienced beverage industry professionals to our executive management team. Strategic acquisitions will be actively pursued. We believe that value-priced spirits, niche specialty liqueurs and ready-to-drink products are clearly a large area of opportunity in the spirits industry." As reported recently in the Wall Street Journal, the $45 billion U.S. spirits market is bustling, thanks to the cocktail culture permeating the nation's bars and restaurants. "New World Brands expects to utilize our relationships in target markets around the world, as well as developing new product lines, to help our goal in becoming a principal player in the spirits expanding industry," Mr. Ataliotis concluded in his comments. About New World Brands Inc. New World Brands, Inc. is an importer of alcoholic beverages, presently conducting business throughout the U.S. The Company's wholly owned subsidiary, International Importers, Inc., currently imports and distributes the award winning Estate Bottled wines of L.A. Cetto, Xtreme Delight Ready to Drink Spirit Based Cocktails. Safe harbor statements under the Private Securities Litigation Reform Act of 1995: Forward looking statements in this release with respect to the Company's business, financial condition, and results of operations are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products, or service delays in testing and evaluation of product, the effect of the Company's accounting policies as well as certain risk factors, which are detailed from time to time in the Company's filings with the Securities and Exchange Commission. The wine and spirits industry is a highly competitive and fragmented. There is no assurance that the Company's products will be able to successfully compete in this market. Further this industry is subject to extensive regulation by the U.S. federal Bureau of Alcohol, Tobacco and Firearms and foreign agencies, state and local liquor authorities. The Company cannot provide any assurance that future regulatory challenges will not negatively impact operations, financial conditions and results of operations. KEYWORD: FLORIDA INDUSTRY KEYWORD: RETAIL RETAIL FOODS/BEVERAGES RETAIL FOODS/BEVERAGES SOURCE: New World Brands, Inc. CONTACT INFORMATION: New World Brands, Inc., Miami Investor Relations: Eileen Kedersha, 954-713-0410 Email: info@int4spirits.com
------------------ Due Da Due......But Be Quick About It!!!!!
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