NEW YORK, June 19, 2015 /PRNewswire/ -- Castle Brands
Inc. (NYSE MKT: ROX), a developer and international marketer of
premium and super-premium branded spirits, today announced that it
has purchased approximately 20% of Copperhead Distillery Company,
which owns and operates the Kentucky Artisan Distillery. The
investment is part of a wide-reaching agreement to build a new
warehouse to store Jefferson's
bourbons, provide distilling capabilities using special mash-bills
made from locally grown grains, and create a visitor center and
store to enhance the consumer experience for the Jefferson's brand.
Castle Brand's investment will be used to purchase land near the
current distillery and for the construction of a new warehouse and
tasting facility in Crestwood,
Kentucky. The warehouse will have the capacity to store up
to 10,000 barrels, with room for expansion, and will facilitate the
continued growth of Jefferson's
wood finishes and barrel-aged cocktails.
A Jefferson's visitor center
which includes a store, showcases the Jefferson's brand and is
already open to visitors.
John Glover, Chief Operating
Officer of Castle Brands, said "Kentucky Artisan Distillery is the
perfect partner for Jefferson's
bourbon. It is the brainchild of Steve Thompson, former President of Brown Forman
Distillery Company. They specialize in "Estate grown
and distilled" small batch production of very high quality bourbon
and rye. Steve not only has a lifetime of experience making
the highest quality spirits, but has built a flexible, scalable
distillery that can add great value to the Jefferson's brand."
Stephen Thompson, President and
General Manager of Kentucky Artisan Distillery, stated "We are
excited to partner with Castle Brands to further develop the
super-premium Jefferson's
portfolio. We look forward to working with Castle Brands for
many years to come and welcoming friends to the new Jefferson's visitor center."
About Castle Brands
Castle Brands is a developer and international marketer of
premium and super-premium beverage alcohol brands including:
Gosling's Rum®, Jefferson's®, Jefferson's Presidential Select™,
Jefferson's Reserve®
and Jefferson's Ocean Aged at
Sea® Bourbon, Jefferson's Chef's Collaboration and
Jefferson's The Manhattan: Barrel Finished Cocktail,
Jefferson's® Rye
Whiskey, Knappogue Castle Whiskey®, Knappogue Twin Wood,
Knappogue Castle 1951, Clontarf® Irish Whiskey,
Pallini® Limoncello, Boru® Vodka and
Brady's® Irish Cream. Additional information concerning
the Company is available on the Company's website,
www.castlebrandsinc.com.
Forward Looking Statements
This press release includes statements of our expectations,
intentions, plans and beliefs that constitute "forward looking
statements" within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934 and
are intended to come within the safe harbor protection provided by
those sections. These statements, which involve risks and
uncertainties, relate to the discussion of our business strategies
and our expectations concerning future operations, margins, sales,
new products and brands, potential joint ventures, potential
acquisitions, expenses, profitability, liquidity and capital
resources and to analyses and other information that are based on
forecasts of future results and estimates of amounts not yet
determinable. You can identify these and other forward-looking
statements by the use of such words as "may," "will," "should,"
"expects," "intends," "plans," "anticipates," "believes," "thinks,"
"estimates," "seeks," "predicts," "could," "projects," "potential"
and other similar terms and phrases, including references to
assumptions. These forward looking statements are made based on
expectations and beliefs concerning future events affecting us and
are subject to uncertainties, risks and factors relating to our
operations and business environments, all of which are difficult to
predict and many of which are beyond our control, that could cause
our actual results to differ materially from those matters
expressed or implied by these forward looking statements. These
risks include our history of losses and expectation of further
losses, our ability to expand our operations in both new and
existing markets, our ability to develop or acquire new brands, our
relationships with distributors, the success of our marketing
activities, the effect of competition in our industry and economic
and political conditions generally, including the current economic
environment and markets. More information about these and other
factors are described under the caption "Risk Factors" in Castle
Brands' Annual Report on Form 10-K for the year ended March 31, 2015 and other reports we file with the
Securities and Exchange Commission. When considering these
forward looking statements, you should keep in mind the cautionary
statements in this press release and the reports we file with the
Securities and Exchange Commission. New risks and uncertainties
arise from time to time, and we cannot predict those events or how
they may affect us. We assume no obligation to update any forward
looking statements after the date of this press release as a result
of new information, future events or developments, except as
required by the federal securities laws.
Castle Brands Inc.
Investor Relations, 646-356-0200
info@castlebrandsinc.com
www.castlebrandsinc.com
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SOURCE Castle Brands Inc.