Bullboard - Stock Discussion Forum 1812 Brewing Company Inc KEGS

1812 Brewing Company, Inc. is engaged in restaurant operations and beverage production, including beer and other non-alcoholic beverages. The Company is constructing a 13,000 square foot scale beverages production plant, in which it intends to produce alcoholic beverages, such as beer, hard seltzer, hard cider, and kombucha, as well as non-alcoholic beverages such as teas and sodas. The Company... see more

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1812 Brewing Company Inc > 1812 Brewing Company in Discussions to Restructure Remaining

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Post by AveragePenny on Jul 26, 2022 10:36am

1812 Brewing Company in Discussions to Restructure Remaining

Watertown, NY, July 26, 2022 (GLOBE NEWSWIRE) -- 1812 BREWING COMPANY, INC. (OTC Pink: KEGS) (the "Company" or “KEGS”) is pleased to announce that it is in advanced discussions with third parties regarding the potential restructuring of convertible notes with a face value of over $13 million. Chairman and CEO, Tom Scozzafava, stated, “We realize these notes must be reduced or eliminated for the Company to move forward, and we hope that these discussions lead to a pathway to do just that.”

Additionally Mr. Scozzafava stated, “And to offset recent share issuances, I shall eliminate an additional 500 million shares of common stock that I hold, which will equate to 1 billion shares of my holdings eliminated.”

https://www.globenewswire.com/news-release/2022/07/26/2485905/0/en/1812-Brewing-Company-in-Discussions-to-Restructure-Remaining-Convertible-Debentures.html

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