U.S. Markets closed

Eastside Receives First Distributor Order for “Outlandish” CBD Beverages

PORTLAND, Ore.--(BUSINESS WIRE)--

Eastside Distilling, Inc. (EAST) today announced it has received its first purchase order for its all-new Outlandish CBD-based beverage. The initial order of the Outlandish 24-pack format, targeted for “on premise” sale and consumption, was placed by Point Blank Distributing for the Outlandish CBD Seltzer and will be sold only in Oregon. The 24-pack is specifically designed for bars, restaurants and other accounts that already sell large volumes of seltzer and other mixer products to their patrons and is intended to expose Outlandish to as many consumers as soon as possible.

Robert Manfredonia, President of Eastside Distilling, commented, “It is always exciting to get the first purchase order for a new product and we are proud to receive this one from Point Blank. Following a recent successful sampling campaign, we moved to commercial production. Point Blank will be receiving product and quickly delivering it into the local market so Oregon consumers can begin experiencing the Outlandish product.”

The Outlandish beverages, formulated by Eastside’s award-winning master distiller, Mel Heim, include CBD and can be used as a “mixer” in uniquely designed drinks (limited only by imagination) or consumed entirely on their own. The Outlandish lineup of ready-to-drink (RTD) cans will initially include three primary products: a seltzer-based, a ginger-based, and a quinine-based tonic with further line extensions planned. Outlandish beverages are believed to be the first CBD beverage produced in a 187 ml slim line can.

Outlandish and Eastside Distilling make no claims to health benefits of CBD. We encourage all our customers to do research of their own. Although the 2018 Farm Bill legalized industrial hemp-based products containing CBD, the US FDA is considering proposed regulation of CBD and other hemp-based products sold in interstate commerce. Outlandish beverages are strictly limited to sale only within the state of Oregon and are intended to comply with applicable regulations in Oregon, which legalized industrial hemp products in 2014.

About Eastside Distilling

Eastside Distilling, Inc. (EAST) has been producing high-quality, award-winning craft spirits in Portland, Oregon since 2008. The company is distinguished by its highly decorated product lineup that includes Redneck Riviera Whiskey, Burnside Bourbon, West End American Whiskey, Goose Hollow Reserve, Below Deck Rums, Portland Potato Vodka, Hue-Hue Coffee Rum and a distinctive line of fruit infused spirits. Eastside Distilling is majority owner of Big Bottom Distilling (makers of The Ninety One Gin, Navy Strength Gin and Delta Rye whiskey) and the Redneck Riviera Whiskey Co. All Eastside, Big Bottom and Redneck Riviera spirits are crafted from natural ingredients for quality and taste. Eastside’s Craft Bottling + Canning subsidiary is one of the Northwest’s leading independent spirit bottlers and ready-to-drink canners. The Company also owns Outlandish Beverages LLC, an Oregon LLC for making and selling products that don't have alcohol, but include ingredients such as CBD. For more information visit: www.eastsidedistilling.com or follow the company on Twitter and Facebook.

Important Cautions Regarding Forward-Looking Statements

Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in obtaining new customers; the Company's success in product development; the Company's ability to execute its business model and strategic plans; the Company's success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission (“SEC”), including the financial statements and related information contained in the Company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. Examples of forward-looking statements in this release may include statements related to our strategic focus, product verticals, anticipated revenue, and profitability. The Company assumes no obligation to update the cautionary information in this release.

Certain matters discussed in this press release may be forward-looking statements, including those related to: plans for distributing, and the success of, the Outlandish products; adding additional product lines and product launches; actions or positions of the FDA; the regulatory environment for CBD; consumer acceptance of CBD; and the potential for the Company‘s products. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: Actions or positions the FDA or other regulators may take in conflict with our product launch and plans; unanticipated enforcement action; lack of acceptance of the Company's products by consumers; failure of the CBD market to grow; changes in regulations; lack of regulatory approval of CBD on a nationwide basis; the Company's success in product development; the Company's ability to execute its plans; and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission (“SEC”).

View source version on businesswire.com: https://www.businesswire.com/news/home/20190613005152/en/