NEW YORK, June 26, 2012 (GLOBE NEWSWIRE) -- Panache Beverage, Inc. (OTCQB:WDKA), an alcoholic beverage company specializing in the development, global sales and marketing of spirits brands, today announced that Alibi American Whiskey (www.alibiamerica.com) has received its Certificate of Label Approval from TTB. The approval paves the way for Panache to roll out the highly anticipated brand in August of this year.
Due to the high demand for significant volume from distributors, Panache will only select between 4-6 states to receive Alibi in 2012. New York and Florida have been confirmed to receive product, and additional states will be confirmed in July when Panache will also announce its distribution partners for this year.
Panache expects to convert, in excess of, the 22,000 9L cases that had previously been committed into purchase orders. However, the Company is in the process of determining how many of those cases will be able to be produced to meet the demand in 2012. Panache is confident that it will be able to ship approximately $2M of Alibi this year with a healthy gross profit and the balance to be delivered in to 2013.
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About Panache Beverages, Inc.
Panache Beverages, Inc. (OTCQB:WDKA), based in New York, NY, is an alcoholic beverage company specializing in the development, global sales and marketing of spirits brands. The Company's expertise lies in the strategic development and aggressive early growth of its brands establishing its assets as viable and attractive acquisition candidates for the major global spirits companies. Panache intends to build its brands as individual acquisition candidates while continuing to develop its pipeline of new brands in to the Panache portfolio. Panache's existing portfolio contains three brands: Wodka Vodka (www.welovewodka.com), Alchemia Infused Vodka (www.alchemiainfusions.com) and Alibi American Whiskey (www.alibiamerica.com).
For more information visit: http://www.panachespirits.com
Safe Harbor
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" "project" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the ability of Information System Associates to attract customers for its services, and to continue developing innovative datacenter optimization solutions. Further information on Panache Beverages' risk factors is contained in its filings with the Securities and Exchange Commission, including the Form 10-KSB for the year ended December 31, 2010 and the Form 10-QSB filed June 30, 2011. Panache Beverages does not undertake any duty nor does it intend to update the results of these forward-looking statements.