SOURCE: Harbor Brewing Company

February 12, 2010 08:00 ET

Harbor Brewing Company, Inc. Begins Early Stage Planning for Construction of Brewery

Real Estate Targeted for the Design and Construction of Commercial Brewing Operation

SACKETS HARBOR, NY--(Marketwire - February 12, 2010) - Harbor Brewing Company, Inc. (PINKSHEETS: HBWO), a holding of Seaway Valley Capital Corporation, today announced that it has signed a letter of intent to acquire real estate that it intends to use for the construction of a full scale commercial brewery for its current and future craft beer labels.

President and CEO Thomas Scozzafava stated, "2010 should be an exciting year for Harbor Brewing Company, as building our own brewery, where both packaged and draught product would be produced and distributed, has the potential to elevate the company into the ranks of some of the stronger and more reputable craft beer companies in this fast-growing segment." Mr. Scozzafava continued, "We think we have located the real estate that would be ideal for our brewery, and we are now in the process of interviewing potential architects for the design and approval stage of the project." 

Stephen Flynn, President of subsidiary Sackets Harbor Brewing Company, stated, "It is likely that we would continue brewing our largest and best-selling labels such as War of 1812 Amber Ale and Thousand Islands Pale Ale with our large-scale brewery partners such as High Falls Brewing Company (www.highfalls.com), but having our own brewery allows the company to produce runs of both new and seasonal products, where smaller runs are more desirable." Mr. Flynn continued, "Building our own brewery would further put us and the community on the map, and we look forward to this stage of the company's development."

With its own brewery the company would look to commence commercial production of a number of labels in its portfolio including Railroad Red, Harbor Wheat and Saint Stephen's Stout, along with seasonal beers such as Ontario October Fest and Pumpkin Spice.

About Harbor Brewing Company, Inc.
Harbor Brewing Company, Inc. develops and acquires craft brewing companies and select craft beer labels. The company acquired Sackets Harbor Brewing Company ("SHBC") (www.1812ale.com) in August 2009. SHBC develops, produces, and markets micro brewed beers such as the award winning "War of 1812 Amber Ale" and "Thousand Island Pale Ale" as well as "Railroad Red Ale", "1812 Amber Ale Light" and "Harbor Wheat" specialty beers. Its "1812 Amber Ale" is the company's flagship brand and was the winner of a Silver Award at the World Beer Championship. The company has also developed complementary products such as Sackets Harbor Coffee and Sackets Harbor Brewing Co. Root Beer.

About Seaway Valley Capital Corporation
Seaway Valley Capital Corporation (www.seawayvalleycapitalcorp.com) makes equity, equity-related, and debt investments in companies that require expansion capital. Seaway also seeks investments in leveraged buyouts and restructurings. Seaway will consider investment opportunities in a number of different industries, including retail, restaurants, consumer products, media, business services, manufacturing, and select technologies. Seaway Valley's current portfolio includes Hackett's Stores, Inc., Alteri Bakery, Inc., Harbor Brewing Company, Inc. (PINKSHEETS: HBWO) and Seaway Realty Holdings, LLC.

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