SOURCE: Frontier Beverage Company, Inc.
HENDERSON, NV--(Marketwired - May 29, 2014) - Frontier Beverage Company Inc. (OTCQB: FBEC) -- Frontier Beverage Company announces the sale of their controlling interest in Blue 22 Entertainment Inc. and the resignation of President/Board Member Michael Jamison.
Frontier Beverage Company announce the sale of their 51% stake in Blue 22 Entertainment Inc. to NX Global Inc. for 50 million common shares of NX Global.
"First I want to thank Mike Jamison for all his service and hard work with the company. NX Global will offer Michael greater management control and creative opportunities. After much consideration, it was mutually agreed that the sale of Blue 22 Entertainment was a good business move for Frontier Beverage as 22 Social Club Productions is now producing Live Events, Developing new Entertainment Content and offering Entertainment, and Talent Services. Frontier is seeking to achieve certain goals such as increasing revenues, reduction of debt, bringing value to our shareholders and producing profits. So a lean a mean approach is what may be necessary in the short run. This doesn't mean we will not be aggressive to seek out new opportunities or acquisitions but we will be diligent in our choices. We are actively seeking a Technology Partner to develop Web and Mobile Portals for our Entertainment Content and I will be sitting down with management at our Dance Broadcast System in the coming weeks to discuss their future go forward plan," stated William Coogan, CEO/COO of Frontier Beverage.
The 50 million shares will remain with company as a company asset.
22 Social Club Productions, Dance Broadcast System will continue with their business plan to produce and develop live event productions, offer talent, entertainment and merchandising products and services, develop relationships for technology, music and film production, distribution publishing and programming and seek new acquisitions or relationships 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.