SOURCE: New Leaf Brands, Inc.
OLD TAPPAN, NJ--(Marketwire - Dec 10, 2012) - (OTCBB: NLEF) Nine months after taking the helm of New Leaf Brands, Inc., CEO David Fuselier announced today that the company is moving to complete its restructuring/turnaround plan and will soon implement its strategic vision of becoming a leading North American beverage company.
The Company now is concluding negotiations with most of its senior lenders and creditors, and in some cases, litigants. "We also are finalizing a broader wide-ranging strategic plan. In addition, we've met with executives from companies that have dozens of leading brands, as well as with distributors and producers. We look forward to announcing our first acquisition and potential joint venture in the near future," said Mr. Fuselier, who became the Company's Chairman, President and Chief Executive Officer on February 14, 2012.
Mr. Fuselier said that the ad hoc committee established by the Company's Board of Directors to review certain financial transactions is completing its analysis and is expected to report to the board by the end of this month. "In addition, our next quarterly report will be out soon. I am confident that we now are on a path that will make New Leaf an outstanding source of both great beverages for its customers and great returns for its investors. We plan to make the Company the best small-cap beverage company in North America," said Mr. Fuselier. "We will be issuing detailed information about our strategic plans and the ad hoc committee report, as well as making the latest SEC financial filing, in the coming weeks."
New Leaf Brands, Inc. (OTCBB: NLEF) is a diversified beverage holding company acquiring brands, producers and distributors within the North American beverage industry. For our customers, we provide high-quality, great-tasting beverages through thousands of well-placed consumer markets. For our shareholders, we acquire brands and companies that build, maintain and nourish shareholder value. Our corporate mission is to be the best small cap beverage holding company in North America. Visit us at: www.NewLeafBrands.com.
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's 10-Ks and 10-Qs on file with the Securities and Exchange Commission.