--(Marketwired - ) - (TSX VENTURE:RB) is pleased to report that its partners in ( China "RBIC") have now completed construction on the new test brewery in . The brewery is now fully operational and its adjoining restaurant is ready to open in the coming days.
This will be the first brewery in this region of to offer premium small-batch beers made to North American craft brewing standards. Standard quality control protocols will be monitored by a Senior Brewer, from the Company's head office in . Kevin is currently in training local brewers and overseeing the implementation of the company's stringent quality control measures to ensure product consistency.
"This is an exciting partnership opportunity for the Company," said (, Interim CEO, " is the world's largest beer market, however craft beer is still in its infancy. We see a significant growth opportunity in this segment. Changing consumer preferences are propelling a type of craft beer revolution, and is on track to become the next craft beer powerhouse. As one of the first North American craft brewers to establish a presence in , Russell is well positioned to capitalize on this emerging market."
The brewery is located in the city of which is the Capital and largest city in the of with a population of 5.7 million. It is a booming industrial city that is open to international development and has had very strong economic growth.
About
is leading Western Canadian brewer. It brews, markets, sells and distributes a diverse portfolio of award-winning beers that are produced by its wholly-owned regional breweries: in and in . Both breweries are dedicated to producing high-quality, flavourful ales and lagers. is publicly listed on the TSX Venture Exchange (TSX VENTURE:RB).
About
In 2012 signed a definitive agreement with , a -based private equity company, for a non-exclusive technology and trade mark license agreement to import, produce, package, use, market, sell and distribute Russell brands in , and . The principal terms of the agreement included an initial up-front licensing fee and ongoing royalties based on volume of beer produced and sold in . Under the terms of the agreement, a new Company named ("RBCI") was established and subscribed for a 20% equity position.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT: ( Director and Interim CEO 604.812.8723 604.596.1048 (FAX) Source: