LOS ANGELES, Oct. 20, 2016 (GLOBE NEWSWIRE) -- Reed’s, Inc. (NYSE:REED), maker of the top selling craft sodas
nationwide announced today that the Board of Directors has appointed Lewis Jaffe to fill the vacant board seat caused by the
resignation of Mark Harris. Mr. Jaffe is considered an “independent” director and will serve on the board until the 2016 annual
meeting where he will be a candidate on the slate of directors being presented by the Company to all shareholders. Mr. Jaffe
serves as the Chairman of the Corporate Governance Committee and on the Compensation and Audit Committees.
Chris Reed, CEO and Founder of Reed’s, Inc. stated: “I am particularly excited about the corporate governance expertise that Lew
brings to our Board. Lew has a Masters Professional Director Certification and substantial board experience. He has served as
an executive or a key advisor to a significant number of growth companies. Lew is one of a slate of four independent directors we
will be announcing shortly for election at our December shareholder meeting. These directors bring expertise in the areas of sales
and marketing, operations, finance and corporate governance. We felt that Lew was the best fit to fill our current board
vacancy. We believe that he will be an invaluable asset to the strategic and board governance side of Reed’s and a catalyst
for our next level of expansion.”
“After meeting Chris for the first time and hearing his vision and strategy, I am very excited to join the board as an
independent director and serve as the Chairman of the Corporate Governance Committee and as a member of the Compensation and Audit
Committees. I believe the company is on the right track for growth and creating real shareholder value,” commented Lewis
Jaffe.
Mr. Jaffe is currently Clinical Faculty and Entrepreneur-in-Residence at the Fred Kiesner Center for Entrepreneurship, Loyola
Marymount University, where he was voted “Professor of the Year” in 2016. He teaches Entrepreneurship with a focus on
management, leadership, sales, corporate ethics and corporate governance.
Mr. Jaffe earned his Masters Professional Director Certification from the American College of Corporate Directors. He
currently serves as Chairman of the Board for FitLife Brands, Inc. (OTCBB:FTLF), and as a Director of York Telecom, a privately
held company. His past board experience includes: Lead Independent Director of publicly traded Benihana, Inc., serving for almost a
decade prior to the company being taken private. He was also a Director of Oxford Media, Inc., Cyclone Power Technologies,
Inc., and Glowpoint, Inc. His board work includes sitting on numerous Audit, Compensation and Governance committees., Mr.
Jaffe’s extensive Board experience includes leading special committees to explore options for raising capital, strategic planning,
and strategic alternatives including exit transactions.
As an operating executive Mr. Jaffe has led numerous public and private companies serving as Co-Founder of MovieMe Network;
Chief Executive Officer of Oxford Media Inc.; Chief Operating Officer of Verso Technologies; Chief Executive of PictureTel
Corporation, and Managing Director of Arthur Andersen‘s Corporate Finance practice in Boston.
Mr. Jaffe has been a guest on business programs aired on CNBC, MSNBC and ABC and has been quoted in the New York Times, The Wall
Street Journal, Forbes and Business Week. Mr. Jaffe is a graduate of the Executive MBA Program (EPSC) at Stanford
University’s Graduate School of Business and completed his undergraduate work at La Salle University.
About Reed’s, Inc.
Reed’s, Inc. makes the top-selling sodas in the natural and specialty foods industry which are sold in over 15,000 natural and
mainstream supermarkets nationwide. Reed’s products are sold through an additional estimated 40,000 accounts that include specialty
gourmet, natural food stores, retail stores, convenience stores and restaurants nationwide and in select international markets.
Reed’s has sold over 500 million bottles since inception in June 1989 and is considered the leader of the fast growing craft soda
category. Its seven award-winning non-alcoholic Ginger Brews are unique in the beverage industry, being brewed, not manufactured
and using fresh ginger, spices and fruits in a brewing process that predates commercial soft drinks. The Company owns the
top-selling root beer line in natural foods, the Virgil’s Root Beer product line, and a top-selling cola line in natural foods, the
China Cola product line. In 2012, the Company launched its Reed’s Culture Club Kombucha line of organic live beverages. Other
product lines include Reed’s Ginger Candies and Reed’s Ginger Ice Creams.
For more information about Reed’s, please visit the Company’s website at: http://www.reedsinc.com or call 800-99-REEDS.
Follow Reed’s on Twitter at http://twitter.com/reedsgingerbrew;
Reed’s Facebook Fan Page at https://www.facebook.com/ReedsGingerBrew
SAFE HARBOR STATEMENT
Some portions of this press release, particularly those describing Reed’s goals and strategies, contain “forward-looking
statements.” These forward-looking statements can generally be identified as such because the context of the statement will include
words, such as “expects,” “should,” “believes,” “anticipates” or words of similar import. Similarly, statements that describe
future plans, objectives or goals are also forward-looking statements. While Reed’s is working to achieve those goals and
strategies, actual results could differ materially from those projected in the forward-looking statements as a result of a number
of risks and uncertainties. These risks and uncertainties include difficulty in marketing its products and services, maintaining
and protecting brand recognition, the need for significant capital, dependence on third party distributors, dependence on third
party brewers, increasing costs of fuel and freight, protection of intellectual property, competition and other factors, any of
which could have an adverse effect on the business plans of Reed’s, its reputation in the industry or its expected financial return
from operations and results of operations. In light of significant risks and uncertainties inherent in forward-looking statements
included herein, the inclusion of such statements should not be regarded as a representation by Reed’s that they will achieve such
forward-looking statements. For further details and a discussion of these and other risks and uncertainties, please see our most
recent reports on Form 10-K and Form 10-Q, as filed with the Securities and Exchange Commission, as they may be amended from time
to time. Reed’s undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information,
future events, or otherwise.
Contact: Reed's, Inc. Investor Relations (310) 217-9400 ext. 6 Email: ir@reedsinc.com www.reedsinc.com
