SOURCE: Hall of Fame Beverages Inc.

July 06, 2010 15:07 ET

Hall of Fame Beverages President Sets the Record Straight on Firing

LOS ANGELES, CA--(Marketwire - July 6, 2010) -  Hall of Fame Beverages, Inc. (PINKSHEETS: HFBG) President, Calvin Ross, has announced that shareholders were misinformed today by former HFBG CEO, Larry Twombly. "Mr. Twombly showed today exactly why our attorneys penned and mailed his termination letter yesterday. He was being fired and he knew that. Unfortunately his past and his sole focus on the A.N.D. product and the V-Group were in stark contrast to the focus of Hall of Fame Beverages and its brands." 

"In a recent meeting to finalize a deal with our new national distributor and partner, an August 2005, USA Today article was brought to my attention where Mr. Twombly embellished the facts of his life. Our new partner was not comfortable moving forward with Mr. Twombly as CEO, so after careful research and much thought, I instructed our attorneys to proceed with the termination process. A termination letter was mailed yesterday, and with the writing on the wall, Larry Twombly used the company and its news service to once again prove why he needed to be removed as CEO."

"Hall of Fame Beverages, Inc. has fully embraced its anchor brand Atomic Dogg Super Soda and Grandmama's Sweet Southern Tea, and it's these products that we'll be producing and distributing more than 30,000 cases of in July. Our shareholders own shares of Hall of Fame Beverages, and Atomic Dogg Super Soda and Grandmama's Sweet Southern Tea are this company's featured brands... not A.N.D. We apologize if our former CEO has directed the focus onto his project rather than what he was hired at Hall of Fame Beverages to focus on for you."

"Over the next month, it will be clear that we're focused, and we're moving forward with a positive management team that understands this company's products and brands. I have not attended meetings with Mr. Twombly because I have been trying to increase the value of this company by working on a distribution deal, a marketing campaign and I have been focused on the production of our products. I will be in New York next week meeting with the national distribution partner and former number one NBA draft pick, Larry Johnson, finalizing our national marketing campaign for the roll out of our products. The marketing campaign will consist of cardboard cut-out stand ups, posters and stickers."

"Again we apologize that we didn't remove Larry Twombly sooner given his embellished USA Today article in 2005, but rest assured we are focused here at Hall of Fame Beverages, and our management team will only be getting stronger in the weeks to come."

About Hall of Fame Beverages
Hall of Fame Beverages, Inc. is a new lifestyle company dedicated to building long-term success through the creation, manufacture, distribution, and marketing of innovative non-alcoholic beverages recognized for their fresh, standout brand identities that rise above the plethora of average products. Hall of Fame Beverages is a team of visionary and seasoned beverage industry executives who intend to leverage their expertise and their established resources in beverage commerce to make Hall of Fame Beverages one of the industry's big winners via its signature brands Atomic Dogg Super Soda and Grandmama's Sweet Southern Tea.

"Safe Harbor Statement"
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.

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