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J. Patrick Kenny, CEO Drinks Americas, stated, "In addition to strengthening the balance sheet of the Company, we are converting these obligations at a 250% premium to the trading price today and staking half or the warrants on our profitability in the future. We appreciate the confidence of our board. Our intention is that our willingness to convert these obligations at this premium, further contingent on profitability, sends a strong signal to our shareholders. Our credit facility is back in place supporting production and shipping of goods. We will continue to take steps like this to move the company to a stronger financial position."
To see press release go to http://myprgenie.com/2886
Contact: Charles Davidson, cdavidson@drinksamericas.com, 203-762-7000
SOURCE Drinks Americas Holdings, Ltd.
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