Company Completes Transaction and Begins Trading Under Ticker Symbol REDZ
FORT LAUDERDALE, FLA., December 13 /CNW/ - Purple Beverage Company, Inc.
(OTCBB: REDZ), announced today that it completed a merger transaction with Red
Carpet Company, Inc., a public company. This morning, Purple Beverage
Company's common stock became publicly tradable on the OTC Bulletin Board
under the symbol "REDZ" following a 3.5-for-1 forward stock split. Its new
CUSIP number is 746387 10 9.
Purple Beverage Company, Inc. is an antioxidant beverage company that
develops, markets, and distributes a unique beverage product. Its business
strategy is to develop and market a unique line of beverage brands and
products that will be positioned as a "better for you" beverage targeted to
the growing category of New Age/Functional beverage consumers.
Purple Beverage Company's first product is named "Purple," a functional
beverage that contains a high level of antioxidants from seven different fruit
sources that are combined to make this product. The seven antioxidant-rich
fruits combined in Purple's unique formula are the natural juices of acai,
black cherry, pomegranate, black currant, purple plum, cranberry, and
"Since our antioxidant beverage PURPLE made its official debut this
summer, consumers and even celebrities like legendary recording artist Chaka
Kahn have embraced it, skyrocketing PURPLE to its status as a top-selling
beverage at a growing number of retailers. Recent recommendations from some of
the nation's most respected national consumer magazines, like Health and
Family Circle, coupled with increasing consumer demand, have resulted in a
record number of requests from drug, specialty and health food stores to stock
their shelves with PURPLE. Now, the hospitality industry is following suit and
PURPLE is being served to customers at an increasing number of bars and
eateries, like the renowned Palm Restaurant in New York City," said Ted
Farnsworth, CEO of Purple Beverage Company, Inc. "After launching to such rave
reviews, becoming part of the public capital markets is the next logical step
to further enhance brand awareness for PURPLE. With the help of industry
veterans like Michael K. Lorelli, former president of Pepsi-Cola East, we will
continue our exhaustive sales and marketing efforts to secure additional shelf
space for our products on a national scale."
About Purple Beverage Company, Inc.
Purple Beverage Company Inc.'s mission is to increase stockholder value
through the sale and distribution of its antioxidant beverages. In 2005,
revenue from the sale of functional beverages reached approximately $40
billion in the U.S., with forecasted sales in 2007 of $46.3 billion, reaching
$53.9 billion by 2011. For more information, please visit www.drinkpurple.com.
Cautionary Statement Regarding Forward-Looking Statements
Information provided by Purple Beverage Company, Inc., such as online or
printed documents, publications or information available via Purple's website
contains forward-looking statements that involve risks, uncertainties,
assumptions and other factors, which, if they do not materialize or prove
correct, could cause Purple's results to differ materially from historical
results, or those expressed or implied by such forward-looking statements. All
statements, other than statements of historical fact, are statements that
could be deemed forward-looking statements, including statements containing
the words "planned," "expects," "believes," "strategy," "opportunity,"
"anticipates," and similar words. These statements may include, among others,
plans, strategies and objectives of management for future operations; any
statements regarding proposed new products, services, or developments; any
statements regarding future economic conditions or performance; statements of
belief; and any statements of assumptions underlying any of the foregoing.
For further information:
For further information: Media: Avalanche Strategic Communications Laura
Finlayson, 201-488-0049 Laura@avalanchepr.com or Investor Relations: Innercomm
Investor Relations Kasia Moshier, 877-305-1161 email@example.com