Affinity Beverage Group Inc (OTCMKTS:ABVG) shares jumped 25% to $0.00025 and were unchanged in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.00. The company has a market cap of $825K at 3.30 billion shares outstanding.
In a press release, Affinity Beverage Group announced that it has executed a letter of intent to acquire a majority interest in Artisanal Edge, LLC. This company is the owner of JAWEA dairy-free all-natural, vegan, gluten and soy free, coconut based frozen desserts.
“Everyone loves ice cream but not everyone has been able to enjoy it because there have been limited options for those who require non-dairy ice cream and are looking for great tasting non-dairy products,” remarked Affinity Beverage Group CEO Janon Costley.
“In fact we have already been working on several very unique opportunities to expand the sales and distribution footprint of the product into untapped markets that we feel could be a sweet spot for the brands long term growth,” he concluded.
JAWEA was created for the health-conscious consumer and is currently sold in over 250 locations in the Northeastern United States, including, Wholefoods Market, Wakefern/Shop Rite, Fairway, Bareburger as well as many other restaurants, grocery stores and specialty retailers in the New York Metro/Tri-State area.
Affinity Beverage Group is a holding company that focuses on branded consumer product acquisition opportunities in the health and wellness sector. It targets lifestyle brands, company and/or product distribution rights focusing on traditional and non-traditional healthy beverage options. Its brands include Village Tea Company and Pura Organic Agave.
The Company’s subsidiary Village Tea Company Distribution, Inc. is owner of the Village Tea brand of loose leaf tea and accessories, which is sold in major retailers in North America, including Vitamin Shoppe, Whole Foods Markets, Winners, HomeSense, Akins/Chamberlin Natural Foods Markets, and other independent specialty and grocery store retailers. It will also seek opportunities involving young brands specializing in all natural/organic foods, bio-food, supplements and personal care products for strategic partnerships, distribution agreements and potential acquisition.