SOURCE: Frontier Beverage Company, Inc.
CARSON CITY, NV--(Marketwired - Jan 8, 2014) - Frontier Beverage Company (OTCQB: FBEC) today announced today new changes and it proposed plans for 2014.
- Frontier Beverage Company announced new changes and plans for 2014.
- The company announced and would like to thank outgoing President Christopher Bailey who stepped down as his term was ending on December 31, 2013, from his position on the Board of Directors and President of the company to spend more time with family and launch his new venture. Mike Jamison has been named the new President and will continue as Chairman until the end of his Term, December, 2014.
- Through the transition William J Coogan's term has been extended one week until January 6, 2014 and William will step down from his position as Frontier Board Member and as President of 22 Social Club but will remain on the 22 Social Club Productions Board and has taken a Consulting position as "Director of Global Live Events" with a focus on Rock & Country.
- Frontier Beverage has plans for expansion into the Dance/Electronic, Rock and Country genres which will include revenue streams such as live event and festival productions, artist signings as well as film and music production and distribution.
- The company continues discussions with Entertainment, Investment, Investor/Public Relations as well as Technology professionals to enhance and bring value to the company. The company is exploring funding a majority of their projects though direct event investment as they explore new opportunities with the goal of movement to the AMEX exchange.
- In a cost cutting move the company has announced the cease of operations for APPQUEST and the Beverage Division as the company will seek an outsourcing strategy rather than an in-house strategy for their Technology and Beverage business as the company will focus more on the growth of their core business Media & Entertainment.
- In continuing with getting their company structure in order, Frontier Beverage Company has come to an agreement with Gallant Acquisitions Corp to sell 30% or 72,000,000 of 22 Social Club Productions common stock for the return of 100 million shares of Frontier Beverage Company common stock that will reduce the issued and outstanding of the common shares of the company.
The following statement was released by Frontier Beverage Company and Gallant Acquisitions Corp:
"After several discussions it was mutually agreed that the asset sale was a bold and prudent move for both parties as Gallant has been impressed by the company's recent rapid growth over the past months and as Frontier seeks to reduce debt."
22 Social Club Productions, Blue 22 Entertainment- Continued growth through live event production, artist booking/management services, merchandising, publishing and licensing services, music and film distribution and the development of broadcast programming products, as they seek new acquisitions and partnerships in the Entertainment, Technology and Beverage industries.
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.