SOURCE: Italian Food & Beverage Corp.

Italian Food & Beverage Corp.

November 02, 2015 09:56 ET

IFBC Will Provide Food Trucks ("Ape") for the Path of Peace at the Extraordinary Jubilee of Mercy -- December 8, 2015 to August 8, 2016

PLAINVIEW, NY--(Marketwired - November 02, 2015) - Italian Food & Beverage Corp. (OTC PINK: IFBC) (IFBC) is in the process of signing an agreement with La Giubi srl, a company which has been chosen to represent the project "Path of Peace" for the forthcoming Extraordinary Jubilee of Mercy, to provide food trucks during the upcoming Jubilee.

The Jubilee is an initiative which was presented to Pope Francis in February 2015, and approved in April 2015, after it had been co-financed by the Organization of the "Way of Peace" and approved by the United Nations.

IFBC, as a partner in this project, will supply up to 100 food trucks, known as "Ape," to provide food and drink to the many pilgrims who will attend the celebration during the period of December 8, 2015 to August 8th, 2016. These pilgrims, who will hail from all parts of the world, will enjoy convenient access to our quality food and wine from right outside the walls of the Vatican.

We have conservatively estimated the gross revenues per "Ape" to be 600 Euros per day during the entire Jubilee period. There exists the possibility of a contract extension to a maximum of five years. Should this extension occur,we estimate the minimum number of food trucks "Ape" to be 20 to 30, with a maximum of 100. Revenues could vary from 360,000 Euros per month (based on 20 food trucks) to 1,800,000 Euros per month (based on 100 food trucks).

Lorenzo Buff, IFBC's President, and Vincenzo Ventola, IFBC's CFO, have been working on this important project for many months. Mr. Buffi stated, "IFBC is beginning to realize the many possibilities of the company in a very short period of time. Our hard work is beginning to pay off and produce greater than expected results."

About Italian Food & Beverage Corp. (formerly Blast Applications, Inc.)

Italian Food & Beverage Corp. (formerly Blast Applications, Inc.) was a marketer and developer of cell phone applications for Android, iPhone®, Twitter® Facebook® and Nokia for purposes of monetizing a web surfer's dedication to social media sites through direct advertising programs tied to the Company's tools, applications and website -- Through its acquisition of Italian Food & Beverage Corp., a Nevada corporation, and the latter's subsidiaries, it is now in the business of manufacturing, exporting, importing, selling and distributing wine and various food products.

Its website is now

Forward Looking Statements

This release contains "forward-looking statements" and information provided by Italian Food & Beverage Corp. (formerly Blast Applications, Inc.), such as online, printed documents, publications or information available via its website. It may contain certain forward-looking statements that involve risks, uncertainties, assumptions and other factors, which, if they do not materialize or prove correct, could cause the Company's results to differ materially from historical results, or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates," and similar words. These statements may also include plans, strategies and objectives of management for future operations; any statements regarding proposed new products, services or developments; any statements regarding future economic conditions or performance; statements of belief; and any statements of assumptions underlying any of the foregoing. There can be no assurance that the negotiations being considered by the letter of intent will be completed.

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