LOS ANGELES, CA--(Marketwired - Jun 8, 2017) - Pacific Ventures Group (
Dear Shareholder:
As we reach the midway point of FY 2017, I'd like to reflect on the progress we have made since last year. The key milestones we have achieved have positioned us to drive growth and innovation as we move forward.
2017 Key Milestones Achieved
- Since becoming public on September 25, 2015, the Company is current with all filings with the U.S. Securities and Exchange Commission (SEC).
- Snobar, popular alcohol-infused ice pops and ice cream, is the leading product of Snobar Holdings, which is 100% owned by PACV. A recently-completed online platform for Snobar will enable consumers to order the Snobar brand online. This platform will help to facilitate future growth by allowing the Snobar brand to have nationwide access.
- Snobar currently has a strong presence on the east coast, but we are continuing to evolve to meet the needs of potential customers. Our Snobar Southeast distributor is currently placing the Snobar brand in most major venues and retailers, including local stadiums.
- Snobar online will utilize Snobar SouthEast to fulfill online orders east of the Mississippi.
- On June 2, 2017, PACV acquired Fresh and Healthy Markets LLC, a Long Beach, California-based healthy food and grocery retailer. This latest acquisition will provide additional immediate revenue streams and allow us to further improve the customer experience and drive sales. It will also bring exposure of the Snobar brand directly to the consumers in southern California. Additionally, this acquisition will be used to fulfill online orders west of the Mississippi.
- We are proud to announce the appointment of Frank Igwealor as CFO. His strong background in the public financial markets will be an asset to PACV's management team.
For more details on our progress, please refer to our recent SEC filings at https://www.otcmarkets.com/stock/PACV/filings.
Near-Term Objectives
This is an exciting time for the Company. At the heart of our growth strategy has been a firm commitment to innovation -- one that not only drives our growth, it also defines our Company. An integral part of this growth strategy is the seeking out of individual acquisition candidates to add new brands to the PACV portfolio. We intend to aggressively pursue acquisitions to enhance shareholder value and are currently in discussions with several potential candidates.
Additional 2017 objectives include broadening our customer base, continued development of innovative products, and revenue growth by increasing existing product sales.
Our entire team is energized, focused and committed to delivering long-term value. I look forward to reporting on our continued progress as we move forward with the execution of our plans.
Sincerely,
Shannon Masjedi, CEO and President
Business Description
Pacific Ventures Group, an investment group concentrating in consumer products, food, beverage and alcohol-related industries, is a publicly-traded company based in Los Angeles, California. PACV attributes its success to the unique blend of our history, culture, brands, relationships, innovation, technology and most importantly, our leadership. For more information on PACV, please visit www.pacvgroup.com.
Forward-Looking Statement
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include among others, the inherent uncertainties associated with smaller reporting companies, including without limitation, other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
Contact Information:
Shareholder and Media Contact:
Pam Lagano
pam@pacvgroup.com