ALEXANDRIA, Va., Oct. 18, 2012 /PRNewswire/ -- Seawright Holdings, Inc. (OTCQB: SWRI), owner of one of the largest permitted natural water springs in the U.S., announced today that it has entered into an agreement with St. Barboux, LLC, to create a line of hand-crafted beverage products including seltzer, tonic waters and distilled spirits for the high-end restaurant, hotel, epicurean and home delivery markets as well as for specialty retailers throughout the Mid-Atlantic region. St. Barboux, a privately-held epicurean food and beverage development and distribution company serving the Mid-Atlantic region, ultimately plans to expand into New York and New Jersey.
Deliveries of the new products are expected to begin during the first quarter of 2013.
"St. Barboux will be using the famous Seawright Springs water with its unique flavor profile to create a distinctive line of beverage products," said Tom Kostelac, co-founder of St. Barboux. "We value this new relationship with Seawright Holdings because Seawright's attention to quality is aligned with St. Barboux's core values of creating and marketing only the very finest products available. Water is a key ingredient in beverages and Seawright Springs water is unsurpassed."
Kostelac added that the legendary Seawright Springs waters make the perfect basis for a line of high-profile distilled spirits.
"The mineral composition of Seawright Springs water is comparable to that found in the finest whiskeys from Kentucky and Tennessee," Kostelac said. "We plan to use that water and with our Virginia distilling partners will craft a whiskey from 100 percent local ingredients."
Joel Sens, CEO of Seawright Holdings, noted that the agreement with St. Barboux is one example of his new strategic plans for leveraging Seawright's water resource and building revenue for shareholders. With growing concern in the scientific community about fresh water scarcity, Seawright believes its spring water currently has high intrinsic value and will continue to increase in value over time, Sens added.
"The announcement today of the relationship with St. Barboux is extremely valuable to the growth of our company," Sens said. "With St. Barboux's food and beverage product development capability and extensive geographic distribution reach, Seawright Holdings will have new products, markets and customers at higher price points and margins than could ever be achieved in the ubiquitous, traditional bottle water market. We look forward to working closely with St. Barboux and seeing the value of our historic spring water reflected in the marketplace."
About St. Barboux LLC
St. Barboux, based near Charlottesville, VA, is a privately-held company founded by Dominique and Tom Kostelac, formerly founders of Arganica LLC. The Kostelacs are both culinary artists who pioneered the concept of developing, sourcing, marketing and distributing local, farm fresh, unique, epicurean foods and beverages to Mid-Atlantic home delivery markets in addition to, grocery retailers and high end restaurants. St. Barboux has numerous food grade warehouse and cold storage facilities where products are continuously being developed and made market ready. The Company has created relationships with numerous distribution companies that gives it the potential to provide in-store and home delivery to more than 30,000 customers in the valuable Mid-Atlantic markets. For more information, visit www.stbarboux.com.
About Seawright Holdings Inc.
Seawright Springs is a major East Coast source for the exceptionally high quality, FDA-approved, natural spring water located in the Shenandoah Valley of Virginia, approximately 120 miles from Washington D.C. Seawright Holdings acquired the prolific natural resource and its surrounding 145 acres of protected woodland because of its irreplaceable value and rich history. The spring has a continuous year round output of approximately 300 million gallons. The spring's strategically important location is within eight hours of 2/3 of the U.S. population including the coveted Mid-Atlantic and Northeast demographics. Seawright Springs received its name through a land grant from King George II in 1741 to John Seawright and has been a rich part of American history since then. For more information, visit www.buyswristock.com.
This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995. These include statements regarding our ability to deliver value to customers, our actions to enhance our corporate governance practices, and our desire to maximize stockholder value. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made, including the risks associated with changes in business conditions, technology, customers' business conditions, reimbursement, economic outlook, operational policy or structure, and other risks detailed in Seawright Holdings' filings with the U.S. Securities and Exchange Commission, including Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports. Readers are cautioned to not place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Seawright Holdings undertakes no obligation to revise or update the forward-looking statements contained herein.
CONTACT: Len Hall, Allen & Caron Inc. 949.474.4300
SOURCE Seawright Holdings, Inc.