BrewBilt Merger Complete and $8M in Current and Projected Sales
13 January 2020
KELSEYVILLE, CA, Jan. 13, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Vet Online Supply, Inc. (OTC PINK:VTNL) (“Vet Online Supply” or the “Company”), BrewBilt Manufacturing is one of the only California companies that custom designs, handcrafts, and integrates processing, fermentation, and distillation processing systems for the craft beer, cannabis and hemp industries using “Best in Class” American made components.
On November 22, 2019, we entered into a Merger Agreement between BrewBilt Manufacturing and the Company. Pursuant the 8K Filing on November 22, 2019.
The auditing firm will complete the audited financials for BrewBilt and the company will file the Form 8K on or before January 15, 2020.
The company currently has purchase orders in process exceeding $1M for new breweries in Texas, Arizona, and California; with current and future Cannabis orders exceeding $2M. The cannabis orders involve extraction systems and systems used to produce water soluble CBD products.
The company will expand into Europe, Asia, Australia and South America in 2020 with projected purchase orders exceeding $5M. The beer industry has changed significantly over the last three decades in the United States. There were around 49 breweries in the US in the year 1983 which has significantly risen to about 5648 breweries in the year 2017. TTB data shows there are now approximately 10,115 permitted breweries in the US, which is an all-time high in the history of beer breweries in the United States. Statistics show there are some states that have more breweries than the entire state had 20 years ago.
One of the factors that have led to a boost in the beer industry in the EU is the increase number of exports. 22% of the beer produced in the European countries is being exported to other countries across the globe. Europe’s reputation for producing quality beer has led to an all-time in beer production and export in the year 2018, 412,221 compared to 407,961 in 1000 hectolitres. Beer consumption in the European Union countries fluctuates over the years. In 2011 and 2016, there was a high rise in beer consumption of approximately 358,000 in 1000 hectolitres in each year. The lowest year in beer consumption in the EU was in the year 2013 with around 350,763,000 hectolitres. A decrease was noted in the year 2017 as compared to beer consumption in 2016.
BrewBilt Video Link: https://www.brewbilt.com/about-1
ABOUT BREWBILT: (www.brewbilt.com)
Located in the Sierra Foothills of Northern California, BrewBilt is one of the only California companies that custom designs, handcrafts, and integrates processing, fermentation and distillation processing systems for the craft beer, cannabis and hemp industries using “Best in Class” American made components integrated with stainless steel processing vessels using only American made steel. Founded in 2014, the company began in a backyard shop by Jef Lewis with a vision of creating a profitable company in “Rural America”. BrewBilt has built a solid foundation by having strong relationships with local suppliers of raw materials, equipment and services in California, an aggressive referral network of satisfied customers nationwide, and an Advisory Board consisting of successful business leaders that provide valuable product feedback and business expertise to management. The craft brewing & spirits industries continue to grow worldwide. California is where craft brewing began and now has over 900 operating breweries – being centrally located in this booming market was a large draw for BrewBilt to locate its manufacturing facility in the Sierra foothills. All BrewBilt products are designed and fabricated as “food grade” quality which enables the company to build vessels for food & beverage processing. More important, the company has been building systems that are pharmaceutical grade for clients involved in distillation for the cannabis and hemp industries over the past 36 months, thus making the revenue potential much greater.
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.