Woburn, Mass., Oct. 03, 2018 (GLOBE NEWSWIRE) — WINE ON TAP, INC., a wholly owned subsidiary of SPO GLOBAL, INC. (OTC Pink: SPOM), (“SPO” or the “Company”) today announced it has acquired specific assets of Wine Stream Inc., including key personnel and intellectual property, licensing and franchise rights. The acquisition excludes Wine Stream Inc’s current Florida operations as well as the following states, Mississippi, Alabama, Louisiana, Georgia, Tennessee, Texas, Nevada and California. The acquisition does include all operations in Sarasota County Florida.
With this acquisition, Wine on Tap adds deep industry expertise in the platform technology that will allow the Company to roll out and develop facilities throughout the United States from which to market premium wines in keg volume. The Company will be able to utilize the strategic partnerships and relationships already in place to offer the same high quality products already offered in Florida by Wine Stream.
According to the Wine Institute, in 2016, 949 million gallons of Wine were consumed in the United States. “We see the asset acquisition and the entry into the kegged wine industry as both an economic and environmentally solid business opportunity”,” said Stuart Barton, CEO of SPO Global. “Offering wine in a keg ensures fresh wine throughout, prevents spoilage, waste and it eliminates the glass and trash footprint from traditional bottle usage. We are currently evaluating locations for our initial plant and have been in early discussions with licensing partners for specific territories.”
About SPO Global
SPO Global, Inc. (“SPO Global” or the “Company”) (OTC Pink: SPOM) is a diversified holding company whose strategic plan is to acquire interests in young businesses, and provide financing, advice and guidance to assist them in realizing their potential. The company’s initial subsidiary, Reflective Solutions, LTD, sells its software and consultancy across worldwide markets. SPO Global is focusing on increasing the revenue from Reflective Solutions with expansion in the North American markets. The newly formed subsidiary, Wine on Tap, Inc., will pursue the construction of a production facility and eventual sale of premium wine in keg volumes thereby lowering wholesale costs to customers and providing exact measurement services.
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Company Disclaimers: As a “penny stock” company, within the meaning of federal and state securities law, Incumaker, Inc. may not avail itself of the Safe Harbor provisions as identified in the Private Securities Litigation Reform Act of 1995. However, SPO Global, Inc. provides the following disclaimer and warning to protect our shareholders, prospective investors and the public at large by alerting them to the risks and uncertainties involved with any investment, and the need to perform their own due diligence and assessment.
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company’s business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company’s periodic filings with the Security and Exchange Commission.