BrewBilt Merger with Vet Online: Chairman Statement
KELSEYVILLE, CA, Dec. 13, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Vet Online Supply, Inc. (OTC PINK:VTNL) (“Vet Online Supply” or the “Company”), BrewBilt Manufacturing, LLC (a California Limited Liability Corporation) CEO and Chairman, Jef Lewis, states the following:
“On November 22, 2019, we entered into a Merger Agreement between BrewBilt Manufacturing and the Company. Pursuant the 8K Filing on November 22, 2019, the Merger with BrewBilt brings a growing business with revenue of $2M+ and assets to the company and to our shareholders. With new purchase orders of over $1M in process, BrewBilt has been manufacturing quality beer brewing systems since 2014, and manufacturing cannabis systems used for extraction of hemp and CBD during the same period. The global industrial hemp market size is estimated at USD 3.9 billion in 2017, expanding at a CAGR of 14.0% over the forecast period. Growing demand for hemp-based food products including cooking oil, dairy alternatives, flour, and salad dressings is expected to drive market growth. In addition, rising demand for bakery products such as bread and cookies is expected to drive the market.
“Our objective in being a publicly owned company at this time is to broaden our scope of value over the next 5 years as we grow and enter the world market for supplying the growing beer industry and cannabis extraction industry. Our business is not a start-up, and we continue to be recognized as the quality manufacturer for restaurants and small breweries, and for cannabis growers seeking extraction systems for processing hemp and CBD.
“Our auditing firm and accounting firm are preparing the required Super-8K filing consisting of our financials. The audited 10K for the period ending 12/31/2019 will be filed on or before 3/15/2019. The company plans to change its name to ‘BrewBilt Manufacturing’ and receive new trading symbols.The Pet Product business will be spun-off before the end of 2020.
“The future outlook over the next 5 years for our company, based upon our growth rate since 2014, is promising since the hemp seeds segment is likely to expand at a CAGR of 17.1% during the forecast period, in terms of revenue. This growth is attributed to the rising demand for oil, seedcakes, and various food and nutraceutical items. Nutraceutical products are known for their high fatty acid content and nutritional value. Seeds comprise about 35.0% oil, which contains roughly 80.0% essential fatty acids and 20.0% crude protein. BrewBilt manufactures the highest quality products for this industry.”
BrewBilt Video Link: https://www.brewbilt.com/about-1
ABOUT BREWBILT: (www.brewbilt.com)
Located in the Sierra Foothills of Northern California, BrewBilt is one of the only California companies that custom designs, hand crafts, and integrates processing, fermentation and distillation processing systems for the craft beer, cannabis and hemp industries using “Best in Class” American made components integrated with stainless steel processing vessels using only American made steel. Founded in 2014, the company began in a backyard shop by Jef Lewis with a vision of creating a profitable company in “Rural America”. BrewBilt has built a solid foundation by having strong relationships with local suppliers of raw materials, equipment and services in California, an aggressive referral network of satisfied customers nationwide, and an Advisory Board consisting of successful business leaders that provide valuable product feedback and business expertise to management. The craft brewing & spirits industries continue to grow worldwide. California is where craft brewing began and now has over 900 operating breweries – being centrally located in this booming market was a large draw for BrewBilt to locate its manufacturing facility in the Sierra foothills. All BrewBilt products are designed and fabricated as “food grade” quality which enables the company to build vessels for food & beverage processing. More important, the company has been building systems that are pharmaceutical grade for clients involved in distillation for the cannabis and hemp industries over the past 36 months, thus making the revenue potential much greater.
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.
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