Appalachian
Mountain Brewery (AMB) today said it has closed its $3.5 million acquisition of
North Carolina Natural Energy, a publicly traded Florida corporation.
Appalachian Mountain Brewery will continue to trade on the OTCBB exchange under
the ticker symbol “NCNE” until its name and symbol change become effective.
In
a news release issued this morning, AMB said its entrance into the public
markets has created an “overwhelming positive response” from the local
community as well as industry professionals.
“Going
public is a strategic move for Appalachian Mountain Brewery to enter into a
capital raise to facilitate production of locally made North Carolina Hard
Cider, continued expansion of its craft beer lines, adding Barrel Aged Sour
Beers, and increasing capacity for canning and bottling to meet the growing
demand of its award-winning craft beer,” AMB CEO Sean Spiegelman stated.
Shares
of AMB will be offered to qualified investors as the company moves forward with
the planned expansion adding a second location in Boone, NC. AMB is currently
exploring several locations, which will house a live music venue, restaurant,
tap room, and full-scale cannery.
The
company is also preparing to ramp-up production of its craft beverage line and
planned distribution, including restaurants owned and operated by AMB
shareholder Chanticleer Holdings (HOTR).
Chanticleer
CEO Mike Pruitt embellished on the benefits of becoming a publicly traded
company, stating, “Appalachian Mountain Brewery can now take advantage of
funding opportunities in the public markets to expand its operation and brand
of craft beers. We look forward to seeing AMB grow in a multi-billion dollar
market.”
AMB
also named Christopher Zieber as head brewer and sustainability coordinator.
For
more information visit www.chanticleerholdings.com or
www.appalachianmountainbrewery.com
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