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FT. LAUDERDALE, Fla., Feb. 20, 2025 (GLOBE NEWSWIRE) -- Golden Grail Beverages Corp. (OTC: GOGY) ("Golden Grail" or the "Company"), a leader in the beverage industry known for its innovative and sustainable products, today announced the termination of its previously announced asset purchase agreement with United Product Development Corporation (UPDC Beverages).
The proposed transaction, which was initially announced on December 11, 2024, and subsequently revised on December 27, 2024, to an asset purchase structure, will not be moving forward. After careful consideration and evaluation, both parties have mutually agreed to terminate discussions regarding the potential acquisition of UPDC Beverages' operational assets.
"While we continue to believe in our strategic growth initiatives, we have determined that proceeding with this transaction is not in the best interests of our shareholders at this time," said Scott Lomu, CEO of Golden Grail Beverages. "We remain committed to pursuing strategic opportunities that align with our core business objectives and create value for our stakeholders."
This decision does not affect Golden Grail's ongoing operations or its commitment to expanding its beverage portfolio through other strategic initiatives. The Company will continue to explore opportunities that support its growth strategy and enhance shareholder value.
About Golden Grail Beverages
Golden Grail Beverages is a rapidly expanding company dedicated to acquiring, innovating, and scaling a diverse portfolio of beverages. With a focus on sustainability and consumer engagement, Golden Grail is committed to providing high-quality, energizing, and refreshing drinks to its customers. For more information, visit https://goldengrailbeverages.com/
Forward-Looking Statements
Certain statements that we make may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions. Forward-looking statements are not guarantees, and they involve risks, uncertainties, and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements.