SOURCE: Long Island Iced Tea Corp.

Long Island Iced Tea Corp.

May 11, 2017 08:00 ET

Long Island Iced Tea Corp. Expands in Puerto Rico through New Partnership with Supermercados Econo

Supermercados Econo is the Largest Supermarket Grocery Chain in Puerto Rico

HICKSVILLE, NY--(Marketwired - May 11, 2017) - Long Island Iced Tea Corp. (NASDAQ: LTEA) (the "Company"), a growth-oriented company focused on the non-alcohol ready-to-drink ("NARTD") segment in the beverage industry, today announced that it has secured placement of its flagship brand Long Island Iced Tea® in Puerto Rico across all 63 Supermercados Econo ("Econo") locations.

The Company has previously announced a broadening of focus into the Latin American and Caribbean markets, which it considers 'home markets', as they do not require the establishment of additional manufacturing capacity outside of the US. Econo is the largest supermarket grocery chain in Puerto Rico. This new partnership is the result of the Company's previously announced distribution agreement with Vaqueria Tres Monjitas, one of the premier beverage distributors in Puerto Rico. Long Island Iced Tea® will be available at Econo locations in 18oz bottles.

Philip Thomas, Chief Executive Officer of the Company, commented, "We are thrilled to partner with Econo and substantially expand our distribution in Puerto Rico. Econo is the largest grocery store chain on the island and takes pride in providing customers with the best quality products at affordable prices. We are excited for their customers to begin enjoying Long Island Iced Tea®."

About Supermercados Econo

Founded over 45 years ago by businessmen Don Facundo Colón and Rafael Acosta, Supermercados Econo is the largest grocery store chain across Puerto Rico with 63 locations. Econo is based on consolidation, efficiency and maintaining an excellent relationship with suppliers and customers. As a result of its focus on quality and customer service, it has grown to 63 locations that total over one million square feet of sales area and more than 6,000 employees. To learn more about Supermercados Econo, visit www.superecono.com.

About Long Island Iced Tea Corp.

Headquartered in Long Island, NY, Long Island Iced Tea Corp. operates in the non-alcohol ready-to-drink segment of the beverage industry. The Company's flagship brand 'The Original Long Island Brand Iced Tea®', together with 'The Original Long Island Brand Lemonade™' are marketed as premium beverages made with non-GMO ingredients. The company also imports and markets 'ALO Juice®' a functional Aloe Vera based beverage. The Company's portfolio of premium brands sits within the 'better-for-you' category of the beverage industry, and are offered to consumers at an affordable price, reflecting the Company's mission. Its beverages are sold primarily through a network of regional chains and distributors primarily on the East Coast and the Midwest of the United States, as well as Canada and Latin America. The Company's website is www.longislandicedtea.com.

Forward Looking Statements

This press release includes statements of the Company's expectations, intentions, plans and beliefs that constitute "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, relate to the discussion of the Company's business strategies and its expectations concerning future operations, margins, sales, new products and brands, potential joint ventures, potential acquisitions, expenses, profitability, liquidity and capital resources and to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements include any statement that does not directly relate to a historical or current fact. You can also identify these and other forward-looking statements by the use of such words as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "thinks," "estimates," "seeks," "predicts," "could," "projects," "potential" and other similar terms and phrases, including references to assumptions. These forward looking statements are made based on expectations and beliefs concerning future events affecting the Company and are subject to uncertainties, risks and factors relating to its operations and business environments, all of which are difficult to predict and many of which are beyond its control, that could cause its actual results to differ materially from those matters expressed or implied by these forward looking statements. These risks include its history of losses and expectation of further losses, its ability to expand its operations in both new and existing markets, its ability to develop or acquire new brands, its relationships with distributors, the success of its marketing activities, the effect of competition in its industry and economic and political conditions generally, including the current economic environment and markets. More information about these and other factors are described in the reports the Company files with the Securities and Exchange Commission, including but not limited to the discussions contained under the caption "Risk Factors." When considering these forward looking statements, you should keep in mind the cautionary statements in this press release and the reports the Company files with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and the Company cannot predict those events or how they may affect it. The Company assumes no obligation to update any forward looking statements after the date of this press release as a result of new information, future events or developments, except as required by the federal securities laws.

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