SOURCE: Black Art Beverage, Inc.

Black Art Beverage, Inc.

September 22, 2009 07:45 ET

Black Art Beer Raises 80% of Phase I Seed Capital Requirements

Company Will Not Require Any Additional Capital for at Least 90 days

FORT LAUDERDALE, FL--(Marketwire - September 22, 2009) - Black Art Beverage, Inc. ("Black Art") (PINKSHEETS: BLVI) is pleased to announce the successful completion of 80% the Capital Raising for Phase I. In the Capital Raising, the company has raised $800,000 USD from its investors. The company had entered into a $1,000,000 financing agreement with a third party. The company does not project any further capital requirements for at least 90 days and will be able to continue on its aggressive plan for growth. The company anticipates entering Phase II, which includes becoming fully reporting and moving to the OTCBB exchange, within the next 4 to 6 months.

These proceeds have been used to repay debt incurred, operating cost, and expansion costs for the company. The company has removed outstanding debts and convertible notes off its balance sheet. These transactions were conducted and completed in cash and has eliminated any opportunity for a creditor to convert a financial obligation to common stock.

Ras Moses, President of Black Art Importers, commented, "Reaching this milestone adds considerable flexibility to our operation and affords Black Art an excellent platform to unlock and pursue opportunities in the United States consumer markets as well as other emerging territories for which Black Art has secured distribution. Black Art's management continues to remain focused on building a viable mainstream brand and increasing shareholder value."

About Black Art Beer

Black Art Beer is produced in Germany and exported to the United States exclusively through Black Art Importers. Black Art's current products include the flagship Black Art beer, a dark premium pilsner, and Black Art Gold, a smooth and light pilsner. Other styles and draft keg beer is forthcoming. For more information, please visit: www.blackartbeer.com.

About Black Art Beer Importers, Inc.

Black Art Importers is a Florida corporation engaged in the business of distributing the Black Art brand. Black Art Beer Importers, Inc. is a wholly owned operating company of Black Art Beverage, Inc.

About Braustolz Brauerie AG.

Black Art pilsner beers are brewed and bottled by Braustolz GmbH in Germany. Braustolz has been in operation since 1868, brewing beer according to the German Purity Laws of 1516, which results in superior quality. Braustolz is a wholly owned subsidiary of a Brewery Group headed by Kulmbacher Brewery all based in Germany.

Forward-Looking Statements

Statements made in this press release that are not historical facts constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21 of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such statements rely on a number of assumptions concerning future events, many of which are outside of the Company's control, and involve risks and uncertainties that could cause actual results to differ materially from opinions and expectations. All information in this release is as of the date hereof. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.

For further information regarding Black Art's business, please refer to the "Information and Disclosure Statement" available on www.pinksheets.com. Additional information about Black Art is available on the World Wide Web at www.blackartbeer.com.

Contact Information

  • Media Contact:
    Melonie Burke
    (786) 371-4371