NEW YORK, Jan. 4, 2018 /PRNewswire/ -- Castle Brands Inc.
(NYSE American: ROX), a developer and international marketer of
premium and super-premium drinks brands, today announced that it
has purchased, or agreed to purchase, an additional $4.2 million of aging and new-fill bourbon. These
additional purchases bring Castle Brands total purchases of aging
and new fill bourbon to $9.6 million
for the current fiscal year.
John Glover, Executive Vice
President and Chief Operating Officer of Castle Brands, said, "The
continued investment in our aging bourbon inventory demonstrates
our commitment to the Jefferson's brand. Jefferson's is one of the top five selling
premium small batch bourbons and the only leading small batch brand
not owned by a major spirits company. Growing our barrel inventory
through opportunistic purchases, combined with our two new-fill
programs, allows us to accelerate the growth of our Jefferson's portfolio. We continue to build on
the success of Jefferson's and
Jefferson's Reserve through
innovation and the introduction of new expressions, including the
expansion of our wine finishes program and the launch of the next
voyages of our Jefferson's Ocean
Aged at Sea® bourbon, including Cask Strength and a 'Wheated'
Ocean."
About Castle Brands
Castle Brands is a developer and international marketer of
premium and super-premium brands including: Jefferson's®, Jefferson's Presidential Select™,
Jefferson's Reserve®,
Jefferson's Ocean Aged at Sea
Bourbon, Jefferson's Wine Finish
Collection and Jefferson's Wood
Experiments, Goslings® Rums, Goslings®
Stormy Ginger Beer, Knappogue Castle
Whiskey®, Clontarf® Irish Whiskey,
Pallini® Limoncello, Boru® Vodka,
Brady's® Irish Cream, The Arran Malt® Single
Malt Scotch Whisky, The Robert Burns Scotch Whisky and Machrie Moor
Scotch Whisky. Additional information concerning the Company is
available on the Company's website, www.castlebrandsinc.com.
Forward Looking Statements
This press release includes statements of our expectations,
intentions, plans and beliefs that constitute "forward looking
statements" within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934 and
are intended to come within the safe harbor protection provided by
those sections. These statements, which involve risks and
uncertainties, relate to the discussion of our business strategies
and our expectations concerning future operations, margins, sales,
new products and brands, potential joint ventures, potential
acquisitions, expenses, profitability, liquidity and capital
resources and to analyses and other information that are based on
forecasts of future results and estimates of amounts not yet
determinable. You can identify these and other forward-looking
statements by the use of such words as "may," "will," "should,"
"expects," "intends," "plans," "anticipates," "believes," "thinks,"
"estimates," "seeks," "predicts," "could," "projects," "potential"
and other similar terms and phrases, including references to
assumptions. These forward looking statements are made based on
expectations and beliefs concerning future events affecting us and
are subject to uncertainties, risks and factors relating to our
operations and business environments, all of which are difficult to
predict and many of which are beyond our control, that could cause
our actual results to differ materially from those matters
expressed or implied by these forward looking statements. These
risks include our history of losses and expectation of further
losses, our ability to expand our operations in both new and
existing markets, our ability to develop or acquire new brands, our
relationships with distributors, the success of our marketing
activities, the effect of competition in our industry and economic
and political conditions generally, including the current economic
environment and markets. More information about these and other
factors are described under the caption "Risk Factors" in Castle
Brands' Annual Report on Form 10-K for the year ended March 31, 2017 and other reports we file with the
Securities and Exchange Commission. When considering these
forward looking statements, you should keep in mind the cautionary
statements in this press release and the reports we file with the
Securities and Exchange Commission. New risks and uncertainties
arise from time to time, and we cannot predict those events or how
they may affect us. We assume no obligation to update any forward
looking statements after the date of this press release as a result
of new information, future events or developments, except as
required by the federal securities laws.
Castle Brands Inc.
Investor Relations, 646-356-0200
info@castlebrandsinc.com
www.castlebrandsinc.com
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SOURCE Castle Brands Inc.