Rooshine, Inc. (OTC Pink: RSAU) is engaged in the importation, distribution, and sale of alcoholic spirits. Shares surged 50% through early trading on Wednesday, January 9, 2019. Over the past month, Rooshine has seen an average daily volume of 1,866,044 shares. However, through Wednesday morning, already 7.59 million shares have traded hands, equating to $18,200 in dollar volume.
Shares jumped Wednesday morning after Rooshine announced it has entered into negotiations with five US-based beverage distributors. Larry Curran, CEO of Rooshine, stated, “Each new distributor potentially represents a Multi-Million Dollar distribution contract.” In addition, Rooshine announced it is poised to ship their first partial container to their current distributor in the US. This shipment consists of the first $240,000 worth of product in their total annual contract valued at $5 million. Rooshine is also currently looking into expanding its distribution operations to the European and Asian markets. Here is the full press release detailing the negotiations between Rooshine and five US beverage distributors and its first shipment to its current US distributor:
Rooshine, Inc. Press Release:
ORMOND BEACH, Fla., Jan. 09, 2019 (GLOBE NEWSWIRE) — Rooshine, Inc. (OTC PINK: RSAU) announces that it has entered into negotiations with five additional national beverage distributors located in the USA. Furthermore, the company is preparing the first partial container for overseas shipment to the USA worth $240,000 in revenues towards their first 5 Million Dollar annual contract.
Larry R. Curran, CEO of Rooshine, Inc., stated, “Each new distributor potentially represents a Multi-Million Dollar distribution contract. I feel confident that we can come to highly beneficial terms for all parties concerned. Also, our first U.S. order is slotted for shipment in February. All our hard work is paying off and the company’s future looks bright. Rooshine’s plans for distribution in the European and Asian markets continue to take shape. We look forward to providing updates as we make progress.”
About Rooshine, Inc. – The Company was formed under the laws of the State of Nevada in April 1998. The Company’s business is currently focused on the importation, distribution and sale of high-end alcoholic spirits. The Company has a Brand Licensing Agreement with The International Spirit Vault Ltd (ISV) (f/k/a Cloudburst Distribution Pty Ltd.), to be the exclusive distributor of ISV’s Rooshine brand of spirits in North America. Rooshine’s proprietary process allow spirits to taste like a smooth 20-year aged spirit after aging only a week. Rooshine’s smoking process allows the permanent infusion of smoky flavors that last the entire bottle.
Statement as to Forward-Looking Statements – Forward-Looking Statements certain statements in this release that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified using words such as “anticipate,” “believe,” “expect,” “future,” “may,” “will,” “would,” “should,” “plan,” “projected, ” “intend,” and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company’s future operating results are dependent upon many factors, including but not limited to the Company’s ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company’s control; and (iv) other risk factors. We assume no obligation to update the information contained in this news release.
Article By: Andrew Rego