SOURCE: Drinks Americas Holdings, Ltd.

June 03, 2005 07:30 ET

Drinks Americas Holdings, Ltd, Approved for NASDAQ Bulletin Board Listing

WILTON, CT -- (MARKET WIRE) -- June 3, 2005 -- Drinks Americas Holdings, Ltd. (OTC BB: DKAM) today announced that its common stock has been approved for listing on the NASDAQ Over the Counter Bulletin Board and is expected to commence trading under the symbol "DKAM" effective with the opening of the market on Friday, June 3, 2005.

Drinks Americas Holdings, Ltd., based in Wilton, CT, was founded in 2003 by a team of experienced beverage, entertainment, retail and consumer product industry professionals led by J. Patrick Kenny, a former executive at Joseph E. Seagram and Sons. Drinks specializes in the marketing and distribution of unique, premium alchoholic and non-alcoholic beverages associated with icon entertainers, sports figures, celebrities and destinations.

"The listing of our stock on the NASDAQ Over the Counter Bulletin Board market represents the completion of several steps we have taken to financially position Drinks Americas for future growth," said Patrick Kenny, CEO of the company. On March 9, 2005, the company completed a share exchange with Gourmet Group, Inc., a publicly reporting and publicly traded company. As part of the share exchange transaction, (i) the name of Gourmet Group, Inc. was changed to Drinks Americas Holdings, Ltd, (ii) the state of organization was changed from Nevada to Delaware, (iii) a 10 for 1 reverse split of Gourmet Group common stock was effected, and (iv) the authorized number of shares was increased from 50 million to 100 million.

Drinks Americas' portfolio of premium beverages includes Willie Nelson's Old Whiskey River Bourbon and Bourbon Cream, Roy Yamaguchi's Y Sake, Aguila Tequila, Normans Wines from Australia's oldest winery, and Drinks' award winning Cohete Rum Guarana from Panama. The company has also recently secured the long term U.S. distribution rights for the Hispanic liquor, Damiana. Drinks Americas' subsidiary, Drinks Global Imports LLC, also imports a variety of super premium fine wines.

Old Whiskey River, Y Sake, Aguila Tequila and Cohete Rum are award winning gold or silver medal award winners from the International Beverage Tasting Institute and the San Francisco Wine and Spirits competition.

Drinks Americas' portfolio of premium non-alcoholic brands include Swiss T (imported naturally brewed tea made with pure cane sugar), and the recently launched "Newman's Own All Natural Sparkling Lemonades and Fruit Juice Drinks."

The company's product line has focused on premium, high margin, unique brands that closely associate the company with the growing demographics of the consumers who purchase premium-priced beverages. With products like Cohete and Damiana, the company will continue to focus on the growing Hispanic consumer product opportunity.

Joining the board of Drinks Americas Holdings, Ltd. is Fredrick Schulman, Esq. (former CEO of Gourmet Group), Marvin Traub (former CEO of Bloomingdale's and Chairman of Marvin Traub Associates), Tom Schwalm of Greenwich Beverage Group LLC (former President of SOBE), and Bruce Klein of Victory Partners.

Except for the historical information contained herein, the matters set forth in this press release, including the description of the company and its product offerings, are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the historical volatility and low trading volume of our stock, the risk and uncertainties inherent in the early stages of growth companies, the company's need to raise substantial additional capital to proceed with its business, risks associated with competitors, and other risks detailed from time to time in the company's most recent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.

For further information, please visit our website at www.DrinksAmericas.com.

Contact Information

  • Contact:

    Drinks Americas Holdings, Ltd.
    372 Danbury Road
    Wilton, CT 06903
    Attn: Charles Davidson
    203-762-7000