NEW YORK, NY, June 7, 2016 /PRNewswire/ - International Spirit & Beverage Group, Inc. (OTC : ISBG) has announced that the company's Board of Directors have agreed to buy up to 300 million shares of common stock in the market of ISBG and pull the certificates from the float. This is an act of confidence in the company's future. When the board of directors buys stock in the market their stock becomes restricted for one year. The Board feels that they have put together a phenomenal plan to bring continual revenues to the company and in an effort to build greater shareholder confidence is buying their own stock. When the board buys stock they will announce their purchases to the public. They expect to start buying common stock in the market this week.
The company has also filled out all the necessary paperwork to establish a brokerage account to execute the plan to buy-back shares of its common stock from the public market, and reduce the float substantially. The company expects the account to be opened this week. The Board of Directors has agreed that a percentage of revenues derived from contracts will be used for buyback program. The company will make announcements on new revenue projects shortly that will enhance the buyback program.
ISBG President, Mr. Williams stated, "We feel that ISBG has a tremendous future with contracts that we have already agreed to and are currently in negotiations. The board is committed to creating greater value in the company with increased revenues and assets. The company stock buyback program along with insider buying is the best way to show our shareholders we are committed to the long-term future for ISBG. It is our goal to reduce the float dramatically in preparation to becoming a fully reporting company and QB certified."
ISBG, based in Houston, TX, is an alcoholic beverage company specializing in the development, global sales, and marketing of innovative wine & spirits brands. The Company's expertise lies in the strategic development and aggressive early growth of its brands establishing its assets as viable and attractive acquisition candidates for the major global spirits companies. ISBG intends to build its brands as individual acquisition candidates while continuing to develop its pipeline of new brands in to the ISBG portfolio.
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SOURCE International Spirit and Beverage Group (ISBG)