CAVE CREEK, Ariz., July 19, 2012 /PRNewswire/ -- Exclusive Building Services, Inc. (OTCBB:EXBS) announced that it has signed a Letter of Intent to acquire 100% of the equity of Dethrone Royalty, Inc. in exchange for 29,050,000 shares of newly-issued restricted EXBS common stock. Toby McBride and Mike Holley will retire 29,050,000 shares of their common stock prior to the completion of this acquisition so that the current outstanding capitalization of EXBS will remain at 94,750,000 shares of common stock. EXBS will also change its name to Dethrone Royalty Holdings, Inc.
Nick and Dan Swinmurn, the current officers of Dethrone Royalty, Inc. will continue to operate it as a wholly-owned subsidiary of EXBS, Inc. and become Directors of EXBS upon completion of the acquisition.
EXBS will have two wholly-owned subsidiaries upon the completion of this acquisition: TO Sports Innovation (Dethrone Beverage) and Dethrone Royalty, Inc.
At the news announcement Nick Swinmurn said: "Joining Dethrone Beverage, Inc. as a wholly-owned subsidiary of EXBS will allow us to reach new levels in our business and allow us to expand the number of extreme athletes we sponsor both inside Mixed Martial Arts and outside of it. We are positioning ourselves to become a multi-sport brand." Toby McBride added: "We are extremely happy that we are acquiring our licensor because it keeps our licensee payments in house so all our shareholders can participate in our rewards."
About Dethrone Royalty
Dethrone has been an important factor in the growth of the Mixed Martial Arts (MMA) as can be seen through its various sponsorships. The Dethrone Royalty brand was formed in 2009. Nick Swinmurn is behind the success of Dethrone. He has been behind many other ventures like Zappos.com (founder) and is part owner of the Golden State Warriors. Dethrone sponsors some of the best fighters like Josh Koscheck, Cain Velasquez and UFC champion, Ben Henderson.
Dethrone Royalty, Inc. founded in 2009, markets shirts, shorts, hats and other accessories catering to fans of MMA. Dethrone reported unaudited sales of $1,310,481 in 2011 and $1,068,148 in 2010. It is headquartered in Burlingame, CA. Its Web Address is www.dethrone.com.
About Exclusive Building Services, Inc.
In February EXBS incorporated TO Sports Innovation as a wholly-owned subsidiary with the primary purpose of entering into a Royalty Agreement with Dethrone Royalty for the purpose of manufacturing and distributing sports nutrition and water beverages under the Dethrone Beverage brand. On March 26, 2012 EXBS' previous business of "Office Cleaning" was discontinued and spun out to the previous CEO of the Company. Within the next two weeks the Company's web site will be ready.
Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Shiner International, Inc.'s current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Shiner's filings with the Securities and Exchange Commission. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.
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SOURCE Dethrone Royalty Beverage