SOURCE: iBrands Corporation, Inc.

iBrands Corporation, Inc.

September 28, 2016 17:39 ET

China Bilingual Technology & Education Group Inc. Is Pleased to Announce That They Have Finalized the Acquisition of iBrands Corporation Inc.'s Stake in Avita Beverage Company Inc.

PALMETTO, FL--(Marketwired - Sep 28, 2016) - China Bilingual Technology & Education Inc. (CBLY) is pleased to announce that they finalized the acquisition of iBrands Corporation Inc.'s (OTC PINK: IBRC) stake in Avita Beverage Company Inc. The terms of the deal are 5,000,000 free trading common shares in China Bilingual (CBLY) for the 51% stake iBrands has in Avita. Based on the closing price of $.10 Sept 25, the monetary value is $500,000. China Bilingual already owns the other 49% of Avita Beverage Company Inc.

"China Bilingual is going through some very significant changes," states Clinton L. Stokes III, the current CEO. "We are not only changing the vision of our model, we have replaced the entire Board, accounting firm and even our legal team. Our ability to adapt to changing business environment has always kept us ahead of the pack."

China Bilingual Technology & Education Inc. will be changing their name to Avita Beverage Company Inc. They have also completed their delinquent quarterly and annual reports. An Audit of China Bilingual has been completed and now an audit of Avita will begin immediately. Stokes states, "We want to get CBLY performing back up where it once was. Our management team is second to none, with over 100 years in the retail beverage industry. We have sales channels to really get this brand out there again. Avita has been the Official water of the Detroit Pistons, The Palace of Auburn Hills and the LA Dodgers. Avita has also been a first responder for the water crisis in Flint, Michigan where Avita teamed up with local assets in Michigan to donate much needed drinking water for the residents of Flint, Michigan. It's just a natural fit for Avita and China Bilingual."

About iBrands Corporation Inc.:

Headquartered in Irvine, California, iBrands Corporation Inc. engages in the manufacture and distribution of Ultra-Premium Vapor Products and Beverages to the Retail and C-Store industries. The company offers a wide variety of Vapor Products, E-Liquids and Natural Beverages that are made in the USA, all branded under the iBrands Products line. For further information, please contact the Company at: www.iBrandscorporation.com.

About China Bilingual Technology & Education Group Inc.:

 China Bilingual Technology & Education Group Inc., soon to be Avita Beverage Company Inc. is headquartered Palmetto, FL. They are a holding company of manufacturing and distribution of retail consumer products. Their products are mainly channeled toward the premium bottled water market with distribution nation-wide. For more information, please contact the Company at 213-477-1979.

Safe Harbor Statement:

This press release may contain forward looking statements and or observations which are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues as well as any payment of dividends on our stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties include but not limited to information as contained within the Company's most current quarterly reports, annual reports, and or other such filings as may be accessed through the OTCBB website. Furthermore, the Company disclaims any intention or obligation to update or revise any such forward looking statements, whether as a result of new information, future events, or otherwise. We have incurred and will continue to incur significant expenses in our expansion of our existing as well as new product lines noting there is no assurance that we will generate enough revenues to offset those costs. Additional product offerings may expose us too additional legal and regulatory costs and unknown exposure(s) based upon the variables as associated with the general business channel we are operating in, the impact of which cannot be predicted at this time including risks as associated with our product and recent FDA pronouncements. Additionally, our 1-A registration statement will generate additional free trading shares to the marketplace at a pre-determined price which may impact our share pricing within the OTC marketplace in a manner that we cannot predict.

Contact Information

  • Investor Contact
    CBLY
    (213) 477-1979

    Investor Contact
    iBrands Corporation Inc.
    (949) 440-3232