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Kelowna, British Columbia --News Direct-- Forbidden Distillery Spirits
Kelowna, BC – TheNewswire - January 13, 2022 — Forbidden Spirits Distilling Corp. (TSX.V:VDKA) - the "Company" or “Forbidden Spirits”), is pleased to announce it has entered into an exclusive three-year distribution and marketing agreement with Shanghai-based Sinowei Ltd., that includes Mainland China, Macau and Hong Kong.
Blair Wilson, President and CEO said, “We are extremely excited to join with a global firm such as Sinowei and we look forward to working closely with their experienced and talented staff to introduce Forbidden Spirits ultra-premium products to the Chinese market and expand distribution to include such markets as Macau and Hong-Kong. We are enthusiastic and energized about this exciting new relationship with Sinowei as they are fully licensed to import, warehouse, market and distribute throughout China.””
Chinese Distribution and Marketing Agreement
Forbidden Spirits, effective January 10, 2022, has signed an exclusive three-year distribution agreement with Shanghai, China-based Sinowei Ltd. (“Sinowei”) for the distribution and marketing of three of Forbidden’s top selling ultra-premium brands which include: Wallace Hill Whisky, Adam’s Apple Brandy, and Eve’s Original Gin.
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Under the terms of this agreement Sinowei will be required to reach its first minimum annual sales target of 3,800 cases of whisky, brandy and gin for the year ending December 31, 2022. The Company had previously forecasted a Go-To-Market 2022 sales target in China of 640 cases.
Sinowei will also provide Forbidden Spirits with full translation and localization services as well as introductions to Sinowei’s existing customer base. Sinowei will also commence State Administration for Market Regulation accreditation procedures for Forbidden Spirits and ensure that China-compliant back labels are prepared and applied to every bottle entering the country.
Forbidden Spirits will also be granted access to Sinowei.world and other regional B2B business websites and sales platforms including the production of Mandarin language videos and social media B2C content for WeChat, Weibo, and Taobao which will facilitate the sale of Forbidden Spirits brands directly to consumers. Sinowei will also represent Forbidden Spirits at six trade shows in China in fiscal 2022.
About Forbidden Spirits Distilling Corp.
Forbidden Spirits Distilling Corp. is one of the fastest growing craft distilleries in Canada and trades under the ticker symbol VDKA on the TSX Venture Exchange.
Forbidden Spirits currently manufactures and distributes a portfolio of ultra-premium brands including: REBEL Vodka, Eve’s Original Gin, Adam’s Apple Brandy, Forbidden Fire, Forbidden Spirits Vodka, and Wallace Hill Whisky.
Additional information with respect to Forbidden Spirits and its portfolio of ultra-premium spirits can be found on Forbidden Spirits’ website at www.forbiddenspirits.ca.
About Sinowei Ltd.
Sinowei Ltd. is an international trading company with offices in London, Paris, Belfast, Edinburgh and Shanghai. Sinowei’s China office is located in the Import Pavilion in the Greenland Trading Hub in Shanghai.
ON BEHALF OF THE BOARD OF DIRECTORS:
Chairman and CEO
Phone: (250) 317-0996
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and information based on the beliefs of management and reflects the Company’s current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Such forward-looking statements are based on a number of assumptions including, but not limited to the economy generally; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; consumer interest in the services and products of the Company; financing; competition; and anticipated and unanticipated costs. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
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View source version on newsdirect.com: https://newsdirect.com/news/forbidden-spirits-announces-exclusive-three-year-distribution-and-marketing-agreement-with-shanghai-based-sinowei-ltd-849330855