Long Island Iced Tea Corp. Appoints Two New Members to its Board of Directors
01 December 2017 - 1:00PM
- New Board Members Bring Decades of
Experience Building CPG Companies -
Long Island Iced Tea Corp. (NasdaqCM: LTEA) (the “Company”), a
growth-oriented company focused on the non-alcoholic ready-to-drink
(“NARTD”) segment in the beverage industry, today announced the
appointment of John Carson, Chairman of the Board of merchant bank
Intercontinental Beverage Capital Inc. (“IBC”), and William Hayde,
a Wall Street veteran with over 25 years of experience raising
growth capital for companies and co-founder of IBC, to its Board of
Directors (the “Board”). On November 27, 2017, Edward Hanson
had resigned from the Board. As a result, following these
appointments, the Board now consists of six directors, four of
whom, including Mr. Carson and Mr. Hayde, are deemed independent
directors.
Mr. Carson is the Chairman of IBC and the former
Chairman, Chief Executive Officer and President of several leading
beverage companies including Marbo, Inc. and Triarc Beverages, both
private equity backed corporations. As Chairman of Triarc Beverages
(RC Cola), he led the acquisition and integration of Snapple
Beverages and expanded business internationally by leading
negotiations in China, Japan, Mexico, South America, Russia and
Poland. Mr. Carson led the sale of the entire beverage portfolio of
Triarc to Cadbury Schweppes, generating a significant return for
investors. He is former President of Cadbury Schweppes North
America where he led the expansion of the Schweppes brand beyond
mixers and into adult soft drinks. Mr. Carson is also a Board
Member of the National Soft Drink Association and the Board of
Directors of Water Source Inc.
Mr. Hayde has spent over 25 years in the
investment banking and securities industry, primarily focused on
the CPG sector, and is Executive Vice President and co-founder of
IBC, a New York based merchant bank focused on the beverage and CPG
industries. He has successfully raised growth and acquisition
capital for middle market companies, and facilitated mergers,
acquisitions, financial restructurings and divestitures. Through
his experience, Mr. Hayde also has extensive knowledge of FINRA,
NASDAQ and other regulatory bodies and issues. He is also a
managing director at The Interim Opportunity Fund LLC and its
advisor, Waterside Capital Advisors, Inc., a newly formed fund
focusing transactions with a defined strategy for exit with a heavy
emphasis on the consumer markets. He is currently a registered
agent for Network 1 Financial Securities.
About Long Island Iced Tea
Corp.
Headquartered in Long Island, NY, Long Island
Iced Tea Corp. operates in the non-alcohol ready-to-drink segment
of the beverage industry. The Company’s flagship brand ‘The
Original Long Island Brand Iced Tea®’, together with ‘The Original
Long Island Brand LemonadeTM’ are marketed as premium beverages
made with non-GMO ingredients. The company also imports and markets
‘ALO Juice®’ a functional Aloe Vera based beverage. The Company’s
portfolio of premium brands sits within the ‘better-for-you’
category of the beverage industry, and are offered to consumers at
an affordable price, reflecting the Company’s mission. Its
beverages are sold primarily through a network of regional chains
and distributors primarily on the East Coast and the Midwest of the
United States, as well as Canada and Latin America. The Company’s
website is www.longislandicedtea.com.
Forward Looking
Statements
This press release includes statements of the
Company’s 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 the Company’s business strategies and its
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. These statements include any statement that does not
directly relate to a historical or current fact. You can also
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 the Company and are
subject to uncertainties, risks and factors relating to its
operations and business environments, all of which are difficult to
predict and many of which are beyond its control, that could cause
its actual results to differ materially from those matters
expressed or implied by these forward looking statements. These
risks include its history of losses and expectation of further
losses, its ability to expand its operations in both new and
existing markets, its ability to develop or acquire new brands, its
relationships with distributors, the success of its marketing
activities, the effect of competition in its industry and economic
and political conditions generally, including the current economic
environment and markets. More information about these and other
factors are described in the reports the Company files with the
Securities and Exchange Commission, including but not limited to
the discussions contained under the caption “Risk Factors.” When
considering these forward looking statements, you should keep in
mind the cautionary statements in this press release and the
reports the Company files with the Securities and Exchange
Commission. New risks and uncertainties arise from time to time,
and the Company cannot predict those events or how they may affect
it. The Company assumes 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.
Contacts:
For Investors
Phil Thomas
Long Island Iced Tea Corp.
1-855-542-2832
info@longislandteas.com