Reed’s was given until
Reed’s received notice from
Reed’s will continue to be a reporting company under the Securities Exchange Act of 1943, as amended. Reed’s has taken the steps necessary so that its common stock may be quoted for trading on the OTCQX, under its current trading symbol “REED” following the withdrawal from trading on the Nasdaq Capital Market. The Company anticipates trading to begin on the OTCQX on
In addition to its transition to the OTCQX, Reed’s is announcing the close of a bridge financing with
“We have decided not to take steps to satisfy the minimum shareholders’ equity requirement to maintain our listing on Nasdaq,” said
About
Reed’s is an innovative company and category leader that provides the world with high quality, premium and naturally bold™ better-for-you beverages. Established in 1989,
Reed’s is known as America's #1 name in natural, ginger-based beverages. Crafted using real ginger and premium ingredients, the Reed’s portfolio includes ginger beers, ginger ales, ready- to-drink ginger mules, and hard ginger ale. The brand has recently successfully expanded into the zero-sugar segment with its proprietary, all-natural sweetener system.
Virgil's® is an award-winning line of craft sodas, made with the finest natural ingredients and without GMOs or artificial preservatives. The brand offers an array of great tasting, bold flavored sodas including Root Beer,
Flying Cauldron® is a non-alcoholic butterscotch beer prized for its creamy vanilla and butterscotch flavors. Sought after by beverage aficionados, Flying Cauldron is made with natural ingredients and no artificial flavors, sweeteners, preservatives, gluten, caffeine, or GMOs.
For more information, visit drinkreeds.com, virgils.com and flyingcauldron.com.
Cautionary Note Regarding Forward Looking Statements
Statements in this release that are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "opportunity," "generate," "confident," "intend," “next level” and "will" and variations of such words and similar expressions are intended to identify such forward-looking statements. Among other things, quotations from management in this announcement as well as statements about Reed’s expectations and anticipated dates are forward-looking statements. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. The ability of Reed’s management to predict future events or conditions or their impact or the actual effect of existing or future plans or strategies is inherently uncertain. These forward-looking statements are not guarantees of future performance and involve risks, assumptions, and uncertainties, including those described in Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K and in other documents that we file or furnish with the
Investor Relations Contact
Elevate IR
ir@reedsinc.com
(720) 330-2829
Source:
2023 GlobeNewswire, Inc., source