Henderson, Nevada--(Newsfile Corp. - July 20, 2020) - Fresh Promise Foods, Inc. (OTC Pink: FPFI) a publicly traded holding company ("the Company") announced that it has recently filed its Year End 2019(10K), Q1 and Q2 2020 Financial statements and is now current with its reporting requirements. This is an important step in the completion of the Company's restructuring plan. The Company is now in a position to blaze fresh new trails into more profitable and growing market sectors while attempting to create opportunities to generate long term value for its shareholders.
Fresh Promise Foods
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The Company will begin by expanding its platform to focus on agriculture, production, and product development opportunities in Tequila, one of the fastest-growing categories in the Spirits and Wine sector. The growing Tequila industry provides several revenue generating opportunities that are perfectly suited for FPFI and its new direction. The Company has targeted several operating entities with assets including, land, equipment, agave plants, distillery and distribution partnerships, etc. as well as exclusive supply and production agreements and contracts. The Company will also seek opportunities involving uniquely positioned hospitality locations and brands that will be supported by its underlying business activities.
The worldwide alcohol industry is a $766B market. Tequila presents a unique growth opportunity as it is one of the fastest-growing categories, but still only represents 3% of the total Global market. Tequila is forecasted to grow at 4.1% CAGR from 2020 - 2024, and in addition to the US, the largest gains are expected in Australia, China, UK and Russia. This growth has created high demand for agave plants, which have seen a 767% increase in price per kilo over the past five years.
FPFI has identified new management and directors who the Company hopes will lend their years of professional expertise and valuable resources to guide the company in its new intended direction.
Fresh Promise Foods's decision to pursue the Spirit and Wine sector was driven in part by the new management team's resources and experience in the space, but perhaps more significantly by the hard, documented data pertaining to the industry itself. FPFI believes that the company is in the right place at the right time and looks forward to keeping valued stakeholders further informed of company progress. The Company intends to change its name to reflect the spirit of its new direction. Please continue to follow the Company further news and updates over the coming weeks.
About FPFI: Fresh Promise Foods, Inc is a holding company that focuses on acquisition opportunities in the multi-trillion dollar spirit/adult beverage sector and related industries. FPFI primarily targets companies, and/or exclusive production and supply agreements in the Tequila industry. FPFI will also seek opportunities involving uniquely positioned, specialized retail/hospitality locations and brands that will be supported by our underlying business activities.
Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above.
Contact: Joe Poe Jr.
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