EQS-News: Splash Beverage Group Welcomes New CFO, New Director and Discusses Stock Split

FORT LAUDERDALE, FL - March 21, 2025 (NEWMEDIAWIRE) - Splash Beverage Group, Inc. (NYSE American: SBEV) ("Splash" or "the Company"), a portfolio company of leading beverage brands, today announced a reverse stock split of 40 to 1 and wishes to discuss the following topics with shareholders:

1. Reverse Stock Split
2. New CFO
3. New Director
4. Funding Concerns
5. Acquisitions
6. Path Forward
1. The reverse stock split was a mandate from NYSE as the share price dipped below the minimum of .10 cents on Friday.  As you know, the company has been battling downward pressure for some time.  Market order(s) to sell on Friday were simply too great and trading was halted at .07 cents, below the NYSE minimum. The Company worked with its legal counsel and the NYSE to quickly act and effect the reverse stock split which the Company believes will begin trading at $2.80 as soon as the exchange resumes trading. The Company is confident that the reverse split will address its bid price deficiency.
2. The Company would like to welcome William (Bill) Devereux as its new CFO. Bill comes to us with a wealth of experience in capital markets and financial acumen.  Mr. Devereux is a strategic CFO with 20+ years of experience in corporate finance, investment management, and investor relations. He has led multi-million-dollar growth initiatives, secured institutional funding, and optimized financial operations across high-growth consumer and technology sectors.  Mr. Devereux commented, "I’m pleased to join Splash Beverage Group at such a pivotal moment in its journey. With a talented team and an exciting transformation ahead, I look forward to supporting the company’s growth and helping to enhance value for our shareholders."
3. The Company also welcomes Tom Fore as its new director. Given his extensive experience working with public companies and fund raising, Tom comes to us at a perfect time and the Company is honored to have him join the Board.  See bio:
   
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   Thomas Butler Fore is a Boston-based entrepreneur with more than 30 years of experience in structured finance. Thomas has developed an expertise in M&A, corporate strategy, corporate finance, reorganizations, and dispute resolution.  He has served as a key strategist for numerous challenged microcap and small cap public companies, as well as numerous private company capitalizations and reorganizations.  Thomas also has managed numerous restructurings, dispute resolutions, and workouts for top law firms, private equity clients, and fund managers.  As an example, he structured and capitalized the purchase and rebranding of Gray and Company in 2017. Gray and Company was a troubled minority owned “fund to fund” advisory with more than $3B AUM. Additionally, since 2007, Thomas has served as the chief visionary and CEO of Sora Companies, a boutique real estate development firm.  As the lead executive for Sora, Thomas led the award-winning Rowan Boulevard Project in Glassboro, New Jersey. This $300MM mixed-use project remains a national model for public-private partnership. As an advisor and strategist,

   Thomas currently leads the real estate investment strategy for Epogee Capital Management, a Boston-based Registered Investment Advisory, and for Wise Capital, an international investment fund with more than $500MM AUM.  Previously, he served as the CEO of TideRock Media from 2011 to 2024.  TideRock has produced more than 15 feature films for the Sundance Labs Program and has worked with top Hollywood talent including: Elizabeth Banks, Richard Gere, Common, Danny Glover, and Christopher Columbus. TideRock co-founded the Sundance Investor’s Catalyst Lab in 2013 in order to provide education and resources to film investors. Thomas is a board member of My Pebble Inc., a private technology company which is involved in the effort to help companies become carbon neutral, and is a graduate of Towson University (1991) and has retired from the Baltimore City Police Department as a Detective Agent in 2000.

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4. Funding concerns. The Company engaged an advisory group at the first of the year to help it seek funding opportunities to help the Company address its liquidity challenges and help the Company fund potential acquisitions. The Company believes the target amount for this financing, primarily long-term debt, is sufficient to carry the Company to breakeven on its legacy business alone.
5. Acquisitions. The Company intends to focus on its acquisition strategy, driving long-term value creation in line with its original vision.  Both potential acquisitions previously communicated remain in play and are high priorities.
6. The path forward is clear. During a period of limited liquidity, Splash Beverage Group preserved the strength of its businesses, keeping them primed for future growth. Both the e-commerce and branded beverage divisions remain poised for a rapid rebound, with strong underlying momentum. Notably, Qplash achieved key revenue milestones and improved contribution margins before temporary inventory funding constraints. Meanwhile, the branded division is set to launch Chispo Tequila, which has received exceptional trade feedback during its initial market presentations- further strengthening our branded revenue base.

The Company is taking strong actions and adding expertise as it works towards its vision.  While a reverse was not part of the original plan, the Company believes it will ultimately benefit the entire organization as it executes its vision and will greatly reduce the number of shares outstanding, limit the float, assisting with acquisitions and historically believes it will help with share price.

Additional updates will be provided as key milestones are achieved.

About Splash Beverage Group

Splash Beverage Group, an innovator in the beverage industry, owns a growing portfolio of alcoholic and non-alcoholic beverage brands including Copa di Vino wine by the glass, SALT flavored tequilas, Chispo tequila and Pulpoloco sangria. Splash’s strategy is to rapidly develop early-stage brands already in its portfolio as well as acquire, and then accelerate, brands that have high visibility or are innovators in their categories. Led by a management team that has built and managed some of the top brands in the beverage industry and has led sales from product launch into the billions, Splash is rapidly expanding its brand portfolio and global distribution. 

Follow Splash Beverage Group on Twitter: www.twitter.com/SplashBev

For more information visit:

www.SplashBeverageGroup.com
www.copadivino.com
www.drinksalttequila.com
https://chispotequila.com
www.pulpo-loco.com

Forward-Looking Statement

This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, the risks disclosed in the Company’s Annual Report on Form 10-K filed with the SEC on March 29, 2024, and in the Company’s other filings with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.

Contact Information:
Splash Beverage Group
Info@SplashBeverageGroup.com
954-745-5815 

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News Source: SPLASH BEVERAGE GROUP INC.