SOURCE: VuQo Holdings Corporation

March 06, 2012 10:45 ET

VuQo Holdings Corp: Update on $40M Acquisition

NEW YORK, NY--(Marketwire - Mar 6, 2012) - VuQo Holdings Corp (PINKSHEETS: VUQO) announced today that it has suspended the acquisition by Mackay Holdings Inc. in an effort to better evaluate VuQo's current market position with the goal to enhance stockholders' interest by incorporating developing opportunities. "The $40 million offer from Mackay Holdings was a fair offer based on historical performance but fell short of what we felt the actual market value of VuQo is, based on emerging activity within VuQo," states Mr. Jorge Reyes, Director of Corp Communications. Founder James Mackay, of Mackay Holdings, is a well-known club and bar owner in London and England and designed and established venues such as Voodoo Lounge, The Edge, Fabric, and Matrix. He owned a total of 17 nightclubs and bars partnering with high profile entertainment personalities such as The Rolling Stones.

Based upon current projections, VuQo Holdings Corp is forecasting huge growth in the international markets and additional gains in the US markets. "We're looking forward to future activities as we have already marked ourselves in various successful events such as The Emmys, The Playboy Mansion and recently The Oscars," Mr. Jorge Reyes said. Additionally, VuQo Holdings Corp is coming up with a new product line that our initial research indicates will provide substantial market expansion for the company. VuQo Holdings Corp believes that the suspension of the offer is in the best interest of shareholders based on what's currently happening. Mr. Reyes added, "We're so excited with the initial feedback of our market research on our new product line and on the initial progress we're making in the emerging markets. We are encouraged that these current activities will substantially improve VuQo's presence in the marketplace and strongly believe these developments will greatly improve VuQo's Market value over the next few months. We look forward to watching these trends manifest great results in the near future as our efforts unfold."

About VuQo Holdings Corp.:

VuQo Premium Vodka is the only vodka in the world distilled from coconut nectar. VuQo is 40% alcohol by volume, continuously distilled and filtered multiple times, and is packaged in an elegantly designed, 750ml bottle. Currently, VuQo is distributed in the United States in California, Nevada, Texas, Georgia, Maryland, New Jersey, and New York as well as Guam and the Philippines.

VuQo also owns the brand Haliya Light Fruit Wines, which are wines handcrafted in small batches using fruits that thrive in the Philippines. Haliya is available in two variants: Mango Wine which is 13% alcohol-by-volume; and Black Plum Wine which is 12%. Both are packaged in traditional wine bottles with award-winning label designs. Haliya is currently distributed in the Philippines, Guam, and the United States.

Contact Information

  • Contact:
    Boventures Inc.
    Investor Relations