UPD Holding Corp. Announces Re-Entry Into Beverage Business, Appointment of New Director, and Cancellation of Certain Debt
UPD Holding Corp. Announces Re-Entry Into Beverage Business, Appointment of New Director, and Cancellation of Certain Debt
RENO, Nev., Jan. 06, 2023 (GLOBE NEWSWIRE) -- UPD Holding Corp. (OTC:UPDC) (the "Company" or "UPDC"), a publicly traded holding company in the health and wellness industry, is pleased to announce that it is re-entering the beverage business with a focus on specialty waters and functional beverages.
內華達州里諾，2023年1月6日(Global Newswire)--UPD Holding Corp.(場外交易：UPDC(“公司”或“UPDC”)，一家健康和健康行業的上市控股公司，很高興地宣佈，它將重新進入飲料業務，專注於特種水和功能飲料。
The Company's wholly owned subsidiary, United Product Development Corp., a Nevada corporation ("United Product"), entered into an agreement on December 30, 2022 for the acquisition of several complete operating lines of equipment for various bottle and can formats, including printed- and sleeve-labeled standard and slimline 12 fl. oz. cans, shrink-labeled 2 fl. oz. shot bottles, and adhesive-labeled 2 fl. oz. tincture bottles. Within these packaging formats, United Product is able to meet cold, hot, pasteurized, pH-adjusted, colored, flavored, carbonated, and other beverage-enhanced fill demands.
該公司的全資子公司聯合產品開發公司是內華達州的一家公司(“聯合產品”)，於2022年12月30日簽署了一項協議，為各種瓶子和罐頭格式購買幾條完整的設備生產線，包括印刷和套標標準和超薄12層樓。奧茲。罐頭，收縮標籤2層。奧茲。拍攝的瓶子，和膠粘劑標籤2佛羅裏達州。奧茲。藥酒瓶子。在這些包裝形式中，聯合產品能夠滿足冷、熱、巴氏殺菌、pH調整、有色、風味、碳化和其他飲料增強的灌裝要求。
The purchase price paid by United Product is $3,750,000, consisting of: (a) $1,250,000 of the Company's common stock shares, valued at a fixed price of $0.025 per share; and (b) a $2,500,000 secured promissory note payable to the seller over two years in annual installments.
聯合產品公司支付的收購價格為3,750,000美元，其中包括：(A)1,250,000美元的公司普通股，每股固定價格為0.025美元；(B)2,500,000美元的有擔保本票，分兩年按年分期付款給賣方。
"This Company has a long history of being in the beverage industry from time to time, and we believe current demand and functional ingredient innovation make this a prudent time to re-enter the consumer beverage market," said Mark Conte, CEO of the Company.
該公司首席執行官馬克·孔特表示：“該公司時不時地進入飲料行業已有很長的歷史，我們相信，目前的需求和功能成分的創新使現在是重新進入消費飲料市場的謹慎時機。”
Along with the acquisition, the Company is pleased to announce that William "Bill" Nicholson, has been named to the Company's Board of Directors to provide valuable strategic guidance to the Company's management team.
在進行收購的同時，公司高興地宣佈，威廉·“比爾”·尼科爾森已被任命為公司董事會成員，為公司管理團隊提供寶貴的戰略指導。
Mr. Nicholson's wide-ranging experience includes serving as Appointments Secretary to President Gerald R. Ford; providing key leadership to the Amway Corporation where, as COO, he oversaw revenue growth from under $1 billion to over $6 billion; and serving on the boards of UCLA's Center on Middle Eastern Development, M.D. Anderson Cancer Center, and Grand Valley State University. Bill also has served as an advisor to the Van Andel Institute for many years.
Nicholson先生的豐富經驗包括擔任總裁Gerald R.Ford的聘任祕書；在安利公司擔任首席運營官期間，他監督公司收入從不到10億美元增長到60多億美元；以及在加州大學洛杉磯分校中東發展中心、M.D.安德森癌症中心和大谷州立大學的董事會任職。比爾還擔任範安德爾研究所多年的顧問。
Mr. Nicholson filled the director vacancy created by the resignation of Patrick Ogle on December 31, 2021.
尼科爾森先生填補了因帕特里克·奧格爾於2021年12月31日辭職而產生的董事空缺。
The Company also is pleased to announce that it has named Jeff Guest as the President of United Product to lead the new beverage operations. Mr. Guest brings over a decade of experience in top executive leadership roles in the health care and health products industries, including recreational and functional beverages and total business lifecycle participation from start-up to generating multi-million dollar revenues and profitability.
本公司亦高興地宣佈，已任命Jeff嘉賓為聯合產品的總裁，領導新的飲料業務。Guest先生在醫療保健和保健品行業擁有十多年的高層管理領導經驗，包括娛樂和功能飲料以及從創業到創造數百萬美元收入和盈利的整個業務生命週期。
Mr. Conte added, "Bill Nicholson is a powerhouse who brings decades of successful experience and unenumerable business and financing opportunities to the companies he advises. We are lucky to have him on the Company's Board of Directors and also to be joined by Mr. Guest who brings the right operational experience and leadership to us at the right time."
孔特補充説：“比爾·尼科爾森是一位強人，他為他提供諮詢的公司帶來了數十年的成功經驗和無數的商業和融資機會。我們很幸運有他加入公司董事會，也有蓋斯特先生加入，他在正確的時間為我們帶來了正確的運營經驗和領導力。”
Subsequent to the acquisition of the beverage assets by United Product, the Company disposed of the entirety of its majority interest in VHB Kentucky, Inc., a Nevada corporation, in exchange for the cancellation of in excess of $400,000 of debt and ongoing negative cash flow obligations at its location in Frankfort, Kentucky.
在聯合產品公司收購飲料資產後，該公司出售了其在內華達州公司VHB Kentucky，Inc.的全部多數股權，以換取取消其位於肯塔基州法蘭克福的超過40萬美元的債務和持續的負現金流債務。
About UPD Holding Corp.
關於UPD Holding Corp.
UPD Holding Corp. is a publicly traded holding company in the health and wellness industry that conducts business through its primary operating subsidiaries, United Product Development Corp. and Vital Behavioral Health Inc.
UPD控股公司是健康和健康行業的一家上市控股公司，通過其主要運營子公司聯合產品開發公司和VITAL行為健康公司開展業務。
Mark Conte, CEO & Director
(775) 829-7999
馬克·孔特、首席執行官兼董事
(775) 829-7999
Notice About Forward-Looking Statements
有關前瞻性陳述的通知
This news release may contain "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, the accomplishment of any of our plans listed for any acquisitions, production, marketing, products or product sales, and the timeliness within which such items may be accomplished, as referred to in this news release.
本新聞稿可能包含“前瞻性陳述”，這一術語在1933年美國證券法第27A節和1934年證券交易法第21E節中有定義。本新聞稿中非純粹歷史性的陳述為前瞻性陳述，包括與對未來的信念、計劃、期望或意圖有關的任何陳述，包括但不限於，本新聞稿中提及的我們為任何收購、生產、營銷、產品或產品銷售列出的任何計劃的完成情況，以及完成這些項目的時間。
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with acquisitions, product development and sale. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consult all of the information set forth herein and that which is made publicly available by us from time to time. No information in his press release should be construed in any way as an indication of the Company's future revenues, financial condition, or stock price.
由於許多因素，實際結果可能與任何前瞻性陳述中預測的結果不同。這些因素包括與收購、產品開發和銷售相關的內在不確定性。這些前瞻性陳述是截至本新聞稿發佈之日作出的，我們沒有義務更新前瞻性陳述，也沒有義務更新實際結果可能與前瞻性陳述中預測的結果不同的原因。儘管我們相信本新聞稿中包含的信念、計劃、預期和意圖是合理的，但不能保證這些信念、計劃、預期或意圖將被證明是準確的。投資者應參考此處列出的所有信息以及我們不時公開提供的信息。他的新聞稿中的任何信息都不應以任何方式解釋為對公司未來收入、財務狀況或股票價格的指示。
譯文內容由第三人軟體翻譯。