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Coca-Cola Buys $2 Billion Stake in Monster Beverage Corp

Coca-Cola Buys $2 Billion Stake in Monster Beverage Corp


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Coke's purchase of a 16.7 percent stake in the Monster Beverage Corporation will diversify the portfolio of both companies.

The Coca-Cola Company has announced that it will purchase a 16.7 percent equity stake in the Monster Beverage Corporation, giving Coke two seats on Monster’s board of directors, as well as control of Monster’s non-energy beverages: Hansen’s Natural Sodas, Peace Tea, Hubert’s Lemonade, and Hansen’s Juice Products.

In turn, Monster will take over Coke’s energy drink brands including NOS, Full Throttle, Burn, Mother, Play and Power Play, and Relentles.

The deal will allow Coca-Cola to expand its presence to the alternative drinks market as soda sales continue to decline. Meanwhile, Monster will be better able to compete with its primary rival, Red Bull, on a global level, according to industry analysis from IBISWorld.

Furthermore, the exchange will give the Monster Beverage Corporation access to Coke’s superior global distribution model, which Monster called “the most powerful and extensive system in the world.” Coke will also gain access to the successful marketing and promotion team at Monster, the second biggest producer of energy drinks in the United States.

"Our equity investment in Monster is a capital efficient way to bolster our participation in the fast-growing and attractive global energy drinks category,” said Muhtar Kent, Chairman and CEO of The Coca-Cola Company.

“This long-term partnership aligns us with a leading energy player globally, brings financial benefit to our Company and our bottling partners, and supports broader commercial strategies with our customers to bring total beverage growth opportunities that will also benefit our core business."

For the latest food and drink updates, visit our Food News page.

Karen Lo is an associate editor at The Daily Meal. Follow her on Twitter @appleplexy.


Coca-Cola pays $2.2 billion for major stake in Monster Beverage

NEW YORK (Reuters) - Coca-Cola Co (KO.N) said Thursday it is making a cash payment of $2.15 billion (1 billion pounds) for a 16.7 percent stake in Monster Beverage Corp (MNST.O) as the world's largest soda maker seeks to expand into faster-growing categories such as energy drinks.

Under the agreement, Coke will have two directors on Monster's board. Coke will transfer ownership of its worldwide energy business including brands like Full Throttle and Burn, to Monster. Monster will transfer its non-energy business, which includes Hansen's Natural Sodas and Peace Tea, to Coke. Coke will become Monster's preferred distribution partner globally, while Monster brands will be the only energy drinks distributed by Coke.

For Coke, the transaction represents an opportunity to increase its footprint in energy drinks, a $27 billion market globally, according to Euromonitor International. It comes at a time when people are drinking less soda in developed markets. Coke said last month that its quarterly revenue in North America, its biggest market, was flat, partly driven by a decline in diet Coke sales.

In turn, Monster will gain access to Coke's extensive global distribution system. The companies have a distribution agreement in the U.S. and Canada and will amend it to expand into additional territories. On a conference call with media, Rodney Sacks, chief executive officer of Monster, said that the company would also convert distribution agreements it has with Anheuser-Busch InBev in the U.S. to Coke.

"We believe it will be a win-win strategy" Sacks said.

A person familiar with the transaction said that the deal enables Monster to enter markets where it doesn't have a presence, like China and Russia, and increase its footprint in places where the company thinks it can gain share, like Brazil.

Coca-Cola shares rose 1.2 percent in after-hours trading, while Monster surged 22 percent.

Coke's Chief Executive Officer Muhtar Kent said the company has the option to increase its stake to 25 percent and cannot exceed that amount in the next four years. Coke is under no obligation to make additional investments.

The transaction is expected to close late in 2014 or early in 2015.

The deal comes two years after Coke took the unusual step of shooting down a report by the Wall Street Journal that said it was in talks to buy Monster. Coke and Monster had discussed a possible deal as recently as 2011, sources familiar with the matter told Reuters at the time.

On the call, both companies downplayed the risk that energy drinks will be more strictly regulated. Monster is facing lawsuits over its advertising practices and injuries allegedly caused by its flagship energy drink.

Barclays served as financial adviser and Jones Day served as legal adviser to Monster. Skadden, Arps, Slate, Meagher & Flom LLP advised Coke.

(Additional reporting by Jessica Dye Editing by Jonathan Oatis, Andrew Hay and Bernard Orr)

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Coca-Cola Pays $2.2 Billion For Major Stake In Monster Beverage

(Reuters) - Coca-Cola Co ( KO.N ) said Thursday it is making a cash payment of $2.15 billion for a 16.7 percent stake in Monster Beverage Corp ( MNST.O ) as the world's largest soda maker seeks to expand into faster-growing categories such as energy drinks.

Under the agreement, Coke will have two directors on Monster's board. Coke will transfer ownership of its worldwide energy business including brands like Full Throttle and Burn, to Monster. Monster will transfer its non-energy business, which includes Hansen's Natural Sodas and Peace Tea, to Coke. Coke will become Monster's preferred distribution partner globally, while Monster brands will be the only energy drinks distributed by Coke.

For Coke, the transaction represents an opportunity to increase its footprint in energy drinks, a $27 billion market globally, according to Euromonitor International. It comes at a time when people are drinking less soda in developed markets . Coke said last month that its quarterly revenue in North America, its biggest market, was flat, partly driven by a decline in diet Coke sales.

In turn, Monster will gain access to Coke's extensive global distribution system. The companies have a distribution agreement in the U.S. and Canada and will amend it to expand into additional territories. On a conference call with media, Rodney Sacks, chief executive officer of Monster, said that the company would also convert distribution agreements it has with Anheuser-Busch InBev in the U.S. to Coke.

"We believe it will be a win-win strategy" Sacks said.

A person familiar with the transaction said that the deal enables Monster to enter markets where it doesn't have a presence, like China and Russia, and increase its footprint in places where the company thinks it can gain share, like Brazil.

Coca-Cola shares rose 1.2 percent in after-hours trading, while Monster surged 22 percent.

Coke's Chief Executive Officer Muhtar Kent said the company has the option to increase its stake to 25 percent and cannot exceed that amount in the next four years. Coke is under no obligation to make additional investments.

The transaction is expected to close late in 2014 or early in 2015.

The deal comes two years after Coke took the unusual step of shooting down a report by the Wall Street Journal that said it was in talks to buy Monster. Coke and Monster had discussed a possible deal as recently as 2011, sources familiar with the matter told Reuters at the time.

On the call, both companies downplayed the risk that energy drinks will be more strictly regulated. Monster is facing lawsuits over its advertising practices and injuries allegedly caused by its flagship energy drink.

Barclays served as financial adviser and Jones Day served as legal adviser to Monster. Skadden, Arps, Slate, Meagher & Flom LLP advised Coke.


Coca-Cola bets on energy drinks with Monster stake

Coca-Cola is buying a 16.7 percent stake in Monster Beverage for $2.15 billion, with the world's biggest soda maker hoping to benefit from the surging popularity of energy drinks.

The Atlanta-based company said Thursday it will also place two directors on Monster's board as part of the deal.

Analysts had suggested for some time that Coca-Cola might acquire Monster at a time when its flagship soda business is flagging in developed markets such as the United States. Monster Beverage Corp., meanwhile, has cultivated a loyal fan base in part by focusing its marketing on skateboarding, snowboarding and other sports events.

When asked during a conference call with reporters whether Coca-Cola had pursued acquiring all of Monster, CEO Muhtar Kent said, "I wouldn't want to comment on that."

He noted the company has the option to increase its stake to 25 percent.

As energy drink makers have enjoyed growth in recent years, they've also been the subject of criticism and controversy over marketing tactics and the caffeine levels in their products. The Food and Drug Administration has been investigating reports of deaths linked to energy drinks, although the agency noted that the reports don't prove the drinks caused the deaths.

Monster, based in Corona, California, has repeatedly said its drinks are safe and it does not know of any fatalities caused by its products.

The deal is the latest move by Coca-Cola to look beyond its own portfolio of Sprite, Dasani, Powerade and other drinks for growth. Earlier this year, the company also bought a 10 percent stake in Green Mountain Coffee Roasters Inc. for $1.25 billion.

As for its deal with Monster, the two companies will also swap some drinks to better align their respective portfolios. Monster will take Coca-Cola's energy drink business, which includes NOS, Full Throttle, Burn and Mother. In turn, Coca-Cola will take Monster's other beverages, such as Hansen's Natural Sodas and Peace Tea.

The transaction is expected to close later this year or in early 2015.

Shares of Coke rose 1.4 percent to $40.75. Monster shares shot up 20 percent to $85.77.


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Coca-Cola Buys Stake In Monster Beverages

The largest soft-drink manufacturer in the world, Coca-Cola announced that it will buy 16.7% stake in Monster Beverages, a leading energy drinks company, for around $2.15 billion. This deal, which is expected to close by the end of the year or early in 2015, will further extend Coca-Cola’s reach in the fast-growing energy drinks market globally. While consumers, especially in the developed markets, continue to shift away from sugary carbonated soft drinks, smaller beverage segments such as energy drinks have seen considerable volume rises in the last couple of years. Around half of Monster’s beverages, mainly Monster Energy, were already distributed in certain U.S. and Canadian territories by Coca-Cola. In addition, Coca-Cola’s bottlers also distribute Monster Beverages in some international markets. As part of this new deal, Coca-Cola will transfer its energy brands to Monster, and the latter will transfer its non-energy portfolio to Coca-Cola, in order to optimally realign product portfolios. Amid declining sales of the core CSD category, the new Monster deal locks-in Coca-Cola’s share in the fast-growing global energy drinks market, worth around $27 billion presently.

We estimate a $41.86 price for Coca-Cola, which is roughly in line with the current market price.

Energy Drinks Continue To Grow In The Domestic Market

CSD volumes in the U.S. declined by 3.2% last year due to negative consumer perception owing to health and wellness concerns regarding high calorie content, but still form the largest category of the country’s liquid refreshment beverage market. While CSDs constitute around 43% of the overall market, energy drinks represent just over 2%, by our estimates. Energy drink volumes grew by 5.5% in the U.S. in 2013, and owing to the low current levels of penetration, large-scale promotions and innovative advertising initiatives, could grow by 52% through 2018. Growing popularity of energy drinks has even prompted C-stores in the domestic market to increase shelf space allotted to this category from around 20% presently. According to a survey conducted by Wells Fargo, retailers plan to expand shelf space for energy drinks to over 30% in the near term, taking away space from ailing diet CSDs. Energy drinks have not only been outperforming the U.S. LRB market sales-wise, but also carry fatter margins. Compared to around 30% margins for CSDs, margins for energy drinks are around 40%, primarily due to higher pricing. This acts as an added incentive for retailers to promote energy drinks over other beverages and provide larger shelf space to this category.

In addition to the domestic market, energy drinks are also expanding overseas. For example, the energy drinks segment in Brazil is expected to outpace the growth of the country’s overall LRB market through 2017. As compared to the CAGR of 6% for the latter, energy drinks are expected to grow by over 25% annually in terms of volume during this period. In fact, Brazil is expected to outrun every other country in terms of volume growth in this segment through 2017. Low penetration levels in Brazil as well as other emerging economies means that there is a large growth potential in energy drinks in the next few years.

Coca-Cola To Benefit From Monster’s Strong Positioning

Owing to the high demand for energy drinks, distribution of Monster’s beverages was expected to contribute 3% to Coca-Cola’s net operating profits and roughly 13% to the company’s North American operating profits in 2015, according to Stifel. As part of the new agreement, both the companies will modify their current distribution agreement in the U.S. and Canada by expanding into additional territories in these countries, as well as international markets. Monster will become the exclusive energy drinks partner of Coca-Cola, which will add another cash flow stream owing to the equity investment in Monster.

Coca-Cola had considered acquiring Monster in early 2012, but eventually dropped the deal in April. Monster’s market value has grown over three times since 2010 to reach

$14.5 billion presently. According to Bloomberg, the company’s sales are expected to swell by 53% through 2017, beating every other beverage company in the U.S. valued at above $50 million. Monster generated over $2.2 billion in sales in 2013, up 9% year-over-year, and the high demand for energy drinks could further bolster both Monster and Coca-Cola’s finances, going forward. Apart from strengthening domestic sales, Coca-Cola’s widespread distribution channels and marketing muscle could help generate meaningful growth for Monster internationally. Around 70% of energy drink sales globally are outside the U.S., but Monster sells only 21% of its drinks in international markets.

In addition, Monster will now take control of Coca-Cola’s energy drink portfolio, including Full Throttle, NOS, Burn, Mother, Relentless, Play and Power Play. Owing to Monster’s strong brand positioning in the energy drinks sector and dedicated investments in advertising and marketing, Coca-Cola’s energy drinks could also enhance their reach. Retail sales for NOS rose nearly 7% in the U.S. in 2013 to $243 million, selling less than only Red Bull and Monster in the domestic market. However, both Red Bull and Monster dwarf sales of Coca-Cola’s energy drink portfolio at present. These two companies together generated almost $4 billion in dollar sales last year in the U.S.

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Coke buys $2.15 billion stake in Monster

New York (AFP) - Coca-Cola announced Thursday it will pay $2.15 billion for a 16.7 percent stake in Monster Beverage, cementing a distribution-based link between the two that had added significantly to Coke's profits.

The deal would lock in for the soft drink giant a share of the energy drink market, where its own brands have lagged far behind Monster Energy and rival Red Bull.

Coke will transfer ownership of its energy drink unit -- brands including NOS, Full Throttle and Burn -- to Monster, and take over Monster's non-energy brands like Hansen's Natural Sodas, Peace Tea and Hubert's Lemonade.

Meanwhile, Coke will expand its distribution of Monster drinks under long-term deals, and put two directors on the Monster board.

"The Coca-Cola Company will become Monster's preferred distribution partner globally and Monster will become The Coca-Cola Company's exclusive energy play," the two announced.

The deal comes four months after Coke denied rumors it was in talks to buy Monster Beverage. Critics said a close tie-up was necessary to prevent a rival like Pepsi from buying up a significant contributor to Coke's bottom line.

"Our equity investment in Monster is a capital-efficient way to bolster our participation in the fast-growing and attractive global energy drinks category. This long-term partnership aligns us with a leading energy player globally," said Muhtar Ken, Coke chairman and chief executive.


Coca-Cola pays $2.2b for major stake in Monster Beverage

New York: Coca-Cola Co said Thursday it is making a cash payment of $2.15 billion (Dh7.9 billion) for a 16.7 per cent stake in Monster Beverage Corp as the world’s largest soda maker seeks to expand into faster-growing categories such as energy drinks.

Under the agreement, Coke will have two directors on Monster’s board. Coke will transfer ownership of its worldwide energy business including brands like Full Throttle and Burn, to Monster. Monster will transfer its non-energy business, which includes Hansen’s Natural Sodas and Peace Tea, to Coke. Coke will become Monster’s preferred distribution partner globally, while Monster brands will be the only energy drinks distributed by Coke.

For Coke, the transaction represents an opportunity to increase its footprint in energy drinks, a $27 billion market globally, according to Euromonitor International. It comes at a time when people are drinking less soda in developed markets.

Coke said last month that its quarterly revenue in North America, its biggest market, was flat, partly driven by a decline in diet Coke sales.

In turn, Monster will gain access to Coke’s extensive global distribution system. The companies have a distribution agreement in the US and Canada and will amend it to expand into additional territories. On a conference call with media, Rodney Sacks, chief executive officer of Monster, said that the company would also convert distribution agreements it has with Anheuser-Busch InBev in the US to Coke.

“We believe it will be a win-win strategy” Sacks said.

A person familiar with the transaction said that the deal enables Monster to enter markets where it doesn’t have a presence, like China and Russia, and increase its footprint in places where the company thinks it can gain share, like Brazil.

Coca-Cola shares rose 1.2 per cent in after-hours trading, while Monster surged 22 percent.

Coke’s Chief Executive Officer Muhtar Kent said the company has the option to increase its stake to 25 per cent and cannot exceed that amount in the next four years. Coke is under no obligation to make additional investments.

The transaction is expected to close late in 2014 or early in 2015.

The deal comes two years after Coke took the unusual step of shooting down a report by the Wall Street Journal that said it was in talks to buy Monster. Coke and Monster had discussed a possible deal as recently as 2011, sources familiar with the matter told Reuters at the time.

On the call, both companies downplayed the risk that energy drinks will be more strictly regulated. Monster is facing lawsuits over its advertising practices and injuries allegedly caused by its flagship energy drink.

Barclays served as financial adviser and Jones Day served as legal adviser to Monster. Skadden, Arps, Slate, Meagher & Flom LLP advised Coke.


Coca-Cola Might Be Closing in on This Monster Takeover

The Coca-Cola Co. (KO) - Get Report may be working on a deal to finally swallow energy drink maker Monster Beverage Corp. (MNST) - Get Report .

At least that was the thinking of TheStreet&aposs founder and Action Alerts PLUS portfolio manager Jim Cramer. Coca-Cola, the Atlanta-based beverage giant, has a 16.7% stake in Monster.

On his Twitter Inc. account, Cramer noted that Monster shares reached an all-time high of $56.25 on Thursday, Aug. 31, suggesting that a Coca-Cola takeover could be in the works.

Under the new leadership of CEO James Quincey, Wall Street has been anxiously awaiting Coca-Cola to make a deal that jump-starts sluggish growth. Coca-Cola closed on its transaction to acquire a 16.7% stake in Monster for $2.2 billion on June 12, 2015, so a full takeover would be a possible next step.

Quincey previously served as Coca-Cola&aposs COO, but replaced former CEO Muhtar Kent on May 1. He has been widely regarded on Wall Street as acquisition friendly.

On a media earnings call in April, Quincey said the company will be "very focused on expanding in other categories that are attractive to us" and sees "tremendous opportunity" to grow the Coca-Cola brand. 

TheStreet looks at why Coca-Cola should buy Monster.

Monster flaunts an attractive business.

People are buying Monster drinks, driven by a healthy dose of innovation. In November, for example, Monster launched what it calls a "super soda" - its new Mutant soft drink. Fueled by that innovation, Monster saw its revenue climb 9.6% to $907.1 million while net sales from its drinks segment increased 9.7% to $815.3 million. Gross profit in the quarter rose to 64.3% from 62.6% in the year-ago period.

Coca-Cola needs to spruce things up.

Given its stretch of sluggish results, it&aposs time for Coca-Cola to diversify its portfolio. While, yes, it would be wise for Coca-Cola to consider buying a food company to compete better with PepsiCo Inc. (PEP) - Get Report , the company&aposs commitment to being a "total beverage company" would be strengthened by tacking on an energy drink maker. Coca-Cola has enough water brands (smartwater, Dasani), juice (Simply Orange, Minute Maid) and soda (Coca-Cola, Sprite).

Coca-Cola has the opportunity to capture a lot of market share.

As of 2015, Coca-Cola held a 17.4% share of the global sports and energy drinks market, one spot from the top under PepsiCo, which held 29.3%. Monster ranked fourth with 5.9% of the market share in the sports and energy space, under rival Red Bull GmbH, third, with 6.7% of the share, according to Statista data. Combine Coca-Cola and Monster and they can edge PepsiCo out of the dominant seat within the important space.

Coca-Cola declined to comment for this story.

PepsiCo is a holding in Jim Cramer&aposs Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells PEP? Learn more now.

More of What&aposs Trending on TheStreet:


Coke buys $2.15 billion stake in Monster

Coca-Cola announced Thursday it will pay $2.15 billion for a 16.7 percent stake in Monster Beverage, cementing a distribution-based link between the two that had added significantly to Coke's profits.

The deal would lock in for the soft drink giant a share of the energy drink market, where its own brands have lagged far behind Monster Energy and rival Red Bull.

Coke will transfer ownership of its energy drink unit -- brands including NOS, Full Throttle and Burn -- to Monster, and take over Monster's non-energy brands like Hansen's Natural Sodas, Peace Tea and Hubert's Lemonade.

Meanwhile, Coke will expand its distribution of Monster drinks under long-term deals, and put two directors on the Monster board.

"The Coca-Cola Company will become Monster's preferred distribution partner globally and Monster will become The Coca-Cola Company's exclusive energy play," the two announced.

The deal comes four months after Coke denied rumors it was in talks to buy Monster Beverage. Critics said a close tie-up was necessary to prevent a rival like Pepsi from buying up a significant contributor to Coke's bottom line.

"Our equity investment in Monster is a capital-efficient way to bolster our participation in the fast-growing and attractive global energy drinks category. This long-term partnership aligns us with a leading energy player globally," said Muhtar Ken, Coke chairman and chief executive.

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Swiss Water Announces $25 Million Financing for the Construction of Its Second Line of Production (Titan 2) at Its Delta, BC Facility

VANCOUVER, British Columbia, May 24, 2021 (GLOBE NEWSWIRE) -- Swiss Water Decaffeinated Coffee Inc. (TSX – SWP) (“Swiss Water” or “the Company”) is pleased to announce an amendment to the existing senior debt facility with the Company’s senior lender, Business Development Bank of Canada, with participation by a new lender, Farm Credit Canada, which would provide the Company with up to an additional $25 million of senior debt financing at an interest rate of approximately four percent per annum and a favourable payment and amortization schedule by increasing the senior debt facility to $45 million from the current $20 million (the “Amended Senior Facility”). The incremental funds available under the Amended Senior Facility, together with the Company’s existing available credit and projected internally generated cash flow, are anticipated to be sufficient to fund the completion of the Company’s Titan 2 production facility. In order to obtain the new financing, the Company requires an amendment to an existing, outstanding convertible debenture (the “Mill Road Debenture”) of the Company issued to Mill Road Capital II, L.P. (“Mill Road”). The terms of the Mill Road Debenture include a restrictive covenant that limits the dollar amount of indebtedness ranking senior to the indebtedness thereunder to a maximum of $45 million. The Company and Mill Road agreed on terms and executed a term sheet on May 20, 2021 (the “Term Sheet”) under which Mill Road would amend the restrictive covenant to increase the restriction on senior indebtedness to a maximum of $60 million, and would extend the maturity date of the Mill Road Debenture by one year, to October 31, 2024. In return, the terms of the Mill Road Debenture would be amended to (i) increase the maximum current interest rate from 7.85% to 9%, (ii) provide an additional 1.5% “payment in kind” interest, (iii) amend the conversion feature by (A) cancelling the existing conversion feature and (B) replacing the existing conversion feature with warrants to allow Mill Road to purchase up to 2.25 million common shares at a price of $3.33 per share (representing a premium of 10% over the closing price on the date of execution of the Term Sheet) (iv) provide for a $100,000 amendment fee payable to Mill Road, (v) remove a restriction limiting Mill Road’s holdings, following conversion, to a maximum of 19.99% of the issued and outstanding shares of the Company and (vi) reimburse Mill Road for its associated legal expenses (the “Mill Road Amendment”). The Mill Road Amendment is considered to be a related party transaction under the provisions of Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions and is subject to the approval of the Company’s Shareholders, other than Mill Road. The Company will seek shareholder approval of the Mill Road Amendment at the Company’s upcoming Annual General and Special Meeting of Shareholders, to be held on June 25, 2021. The Mill Road Amendment is also subject to the approval of the Toronto Stock Exchange. Iain Carswell, Swiss Water’s CFO commented “We are pleased to have secured the necessary financing to not only maintain our existing business, but materially increase our capacity to meet the growing demand for our Swiss Water chemical-free decaffeinated coffee.” Don Tringali, Swiss Water’s Chairman added, “This financing package is the product of an extensive review of all financing alternatives over the past six months undertaken in conjunction with an independent financial advisor. I would like to thank Iain as well as several of my fellow board members for their work and the substantial time devoted to negotiating the best possible deal for the Company.” Full details of the Mill Road Amendment, including the analysis and deliberations of the Company’s directors and the directors’ recommendation to shareholders, will be set out in the Company’s Management Information Circular, which is expected to be sent to shareholders on or about May 31, 2021. Company Profile Swiss Water Decaffeinated Coffee Inc. is a leading specialty coffee company and a premium green coffee decaffeinator which employs the proprietary SWISS WATER® Process to decaffeinate green coffee without the use of chemicals. It also owns Seaforth Supply Chain Solutions, a green coffee handling and storage business. Both businesses are located in the cities of Burnaby and Delta, British Columbia. For more information, please contact: Iain Carswell, Chief Financial OfficerSwiss Water Decaffeinated Coffee Inc.Phone: 604.420.4050Email: [email protected]: investor.swisswater.com Forward-Looking Statements: Certain statements in this press release may constitute “forward-looking” statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, such statements may include such words as “may”, “will”, “expect”, “believe”, “plan” and other similar terminology. These statements reflect management’s current expectations regarding future events and operating performance, as well as management’s current estimates, but which are based on numerous assumptions and may prove to be incorrect. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties, including, but not limited to, risks related to processing volumes and sales growth, operating results, the supply of utilities, the supply of coffee, general industry conditions, commodity price risks, technology, competition, foreign exchange rates, construction timing, costs and financing of capital projects, a potential impact of the COVID-19 pandemic, and general economic conditions. The forward-looking statements contained herein are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Except to the extent required by applicable securities law, Swiss Water Decaffeinated Coffee Inc. undertakes no obligation to publicly update or revise any such statements to reflect any change in management’s expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those described herein.

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Avicanna Provides Bi-Weekly Update On Status Of Management Cease Trade Order

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/ TORONTO, May 24, 2021 (GLOBE NEWSWIRE) -- Avicanna Inc. (the “Company” or “Avicanna”) (TSX: AVCN) is providing this bi-weekly update on the status of the management cease trade order granted on April 12, 2021 (the “MCTO”) by its principal regulator, the Ontario Securities Commission under National Policy 12-203 – Management Cease ‎Trade Orders ("NP 12-203"), following the Company’s announcement on March 29, 2021 (the “Default Announcement”) that it was unable to file its audited annual financial statements for the year ‎ended December 31, 2020, and accompanying management’s discussion and analysis, annual information form and related certifications ‎‎(collectively, the “Documents”) on or before March 31, 2021, as required under applicable securities laws. The MCTO does ‎not affect the ability of investors who are not insiders to trade in the securities of the Company.‎ The Company also announces that it no longer expects to be in a position to file the Documents by May 31, 2021, as previously announced. While the Company’s annual audit is ongoing, due to the Company’s auditors requiring additional time to complete their audit, the Company now expects to file the Documents on or before June 11, 2021. The Company continues to work closely with its auditor to remedy the default status and file the Documents as soon as possible. The Company reports that: (i) except as set out above with respect to the anticipated filing date of the Documents, there are no changes to the information contained in the bi-weekly status updated dated May 10, 2021, that would reasonably be expected to be material to an investor (ii) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Documents is continuing, each of which will be issued in the form of a press ‎release (iii) there has not been any other specified default by the Company under NP 12-203 (iv) the Company is not subject to any insolvency proceedings ‎and (v) there is no material information concerning the affairs of the Company that has not been generally ‎disclosed. About Avicanna Inc. Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development, and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments. Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna’s team of experts have developed and commercialized several industry leading product lines, including: Pura EarthTM or Pura H&WTM: an advanced and clinically tested line of CBD consumer derma-cosmetic products and,RHO PhytoTM: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nation-wide across Canada in partnership with Medical Cannabis by ShoppersTM, a subsidiary of Shoppers Drug Mart. RHO Phyto is the first strictly medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all 2 developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data. With ongoing studies on its derma-cosmetic (branded as Pura Earth or Pura H&W), medical cannabis (branded as RHO Phyto) and a pipeline of pharmaceutical products, Avicanna’s dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the Company’s vision since its inception. Furthermore, Avicanna’s commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company. Avicanna manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia. Through these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC, and other cannabinoids for use as active pharmaceutical ingredients. Avicanna’s Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June 2020, Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia. SOURCE Avicanna Inc. Stay Connected For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at [email protected] The Company posts updates through videos from the official Company YouTube channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA. Please join the conversation on our Avicanna supporter’s telegram group at https://t.me/Avicannainc. Cautionary Note Regarding Forward-Looking Information and Statements This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, "may", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions, and includes statements with respect to the anticipated default in filing the Interim Filings, and timing for the filing of the Documents and Interim Filings. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment and the availability of licenses, approvals and permits. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company's annual information form dated April 15, 2020 and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company's profile on SEDAR at www.sedar.com. The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Lions' Rayner steps up ACL recovery

Brisbane's Cameron Rayner was mobbed by AFL teammates at the Gabba on Tuesday as he jogged laps of the Gabba for the first time after knee surgery in March.1 draft pick was eyeing a larger midfield role for the Lions this AFL season and in terrific shape before tearing his ACL in a preseason clash with the Gold Coast.

StoneCo Investing $471 Million in Digital Lender Banco Inter

High-profile Brazilian fintech StoneCo (NASDAQ: STNE) is gearing up for a big investment. The company announced Monday that it has signed a definitive agreement to invest in Banco Inter, a digital bank also based in Brazil. This will give StoneCo a stake of, at most, just under 5% of its peer.

Ethereum: 3 Things to Know Before You Invest

Cryptocurrencies have had a tough time recently. After reaching its peak of around $4,200 per token in mid-May, the price of Ethereum (CRYPTO: ETH) has plummeted by more than 40% over the past week. If you've done your research and have decided you're interested in investing in Ethereum, it can be a smart move to buy when the price is lower.

Micron Hosts U.S. Secretary of Commerce and Congressional and Local Leaders at its State-of-the-Art Manassas, Virginia Fabrication Facility

Micron Technology, Inc. hosted government officials for a tour of its Manassas, Va. advanced manufacturing facility. From L-R, Micron President and CEO Sanjay Mehrotra, U.S. Senator John Cornyn (R-TX), U.S. Secretary of Commerce Gina Raimondo, Manassas Mayor Michelle Davis-Younger and U.S. Senator Mark R. Warner (D-VA). MANASSAS, Va., May 24, 2021 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU), today hosted U.S. Secretary of Commerce Gina Raimondo and Congressional and local officials for a tour of its Manassas, Va., advanced manufacturing facility. The visit underscored the importance of domestic semiconductor manufacturers, and highlighted Micron’s position in the industry as the only manufacturer of memory and storage products in the U.S. Secretary Raimondo was joined by U.S. Senators John Cornyn (R-TX) and Mark R. Warner (D-VA) along with Manassas Mayor Michelle Davis-Younger. In a joint press conference, Secretary Raimondo, Senator Cornyn and Senator Warner highlighted the importance of federal support for the U.S. semiconductor industry, a vital component of the U.S. economy that underpins advancements in critical infrastructure. Micron President and CEO, Sanjay Mehrotra​, noted the company’s expanding footprint in Manassas and expressed gratitude for the U.S. Government’s efforts to further promote innovation and strengthen the domestic semiconductor industry. “Over the last year, there has been an increased focus on the importance of semiconductors – here in the U.S. and around the world,” said Mehrotra. “Semiconductors are the foundation on which the modern economy is built, and the applications they enable have kept America on the leading edge of technology innovation. As the only U.S. company that develops, manufactures, and sells leading-edge memory and storage products, we are energized to see the growing momentum to promote domestic semiconductor investments. The CHIPS for America Act aims to incentivize more manufacturing, R&D and innovation here in the U.S., and we look forward to continuing to work with Congress to see it across the finish line.” Micron’s Manassas, Virginia operation serves as a Center of Excellence for the company’s long-lifecycle memory and storage solutions that are key to driving growth in the intelligent edge including automotive, industrial, networking and consumer markets. The site plays a critical role in producing memory that is in nearly half of all automobiles today. About Micron Technology, Inc.We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence and 5G applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com. © 2021 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners. Micron Media Relations ContactErica Rodriguez PompenMicron Technology, Inc.+1 (408) 834-1873 [email protected] A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/47b5e127-ece2-47d1-b252-cc5ce67e7794

CAN, CS, EBS, RMO SHAREHOLDERS - ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Class Action lawsuits filed on behalf of Investors, Lead Plaintiff Deadlines Set

NEW ORLEANS, May 24, 2021 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors of pending deadlines in the following securities class action lawsuits: Canaan Inc. (CAN)Class Period: 2/10/2021 - 4/9/2021Lead Plaintiff Motion Deadline: June 14, 2021SECURITIES FRAUDTo learn more, visit https://www.ksfcounsel.com/cases/nasdaqgm-can/ Credit Suisse Group AG (CS)Class Period: 10/29/2020 - 3/31/2021Lead Plaintiff Motion Deadline: June 15, 2021SECURITIES FRAUDTo learn more, visit https://www.ksfcounsel.com/cases/nyse-cs/ Romeo Power, Inc. (RMO) f/k/a RMG Acquisition Corp. (RMG)Class Period: 10/5/2020 - 3/30/2021Lead Plaintiff Motion Deadline: June 15, 2021SECURITIES FRAUDTo learn more, visit https://www.ksfcounsel.com/cases/nyse-rmo/ Emergent BioSolutions Inc. (EBS)Class Period: 4/24/2020 - 4/16/2021Lead Plaintiff Motion Deadline: June 18, 2021SECURITIES FRAUDTo learn more, visit https://www.ksfcounsel.com/cases/nyse-ebs/ If you purchased shares of the above companies and would like to discuss your legal rights and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner, Lewis Kahn, toll-free at 1-877-515-1850, via email ([email protected]), or via the case links above. If you wish to serve as a Lead Plaintiff in the class action, you must petition the Court on or before the Lead Plaintiff Motion deadline. About KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana. To learn more about KSF, you may visit www.ksfcounsel.com. Contact: Kahn Swick & Foti, LLCLewis Kahn, Managing [email protected] Poydras St., Suite 3200New Orleans, LA 70163

Confusion as Government warns against travel in Indian variant hotspots

People in Hounslow, west London, and in other worst-hit areas were told to not meet indoors

Today in History May 25

Highlights of this day in history: "Star Wars" --- the classic sci-fi movie written and directed by George Lucas --- premieres Former Enron execs Kenneth Lay and Jeffrey Skilling are convicted of conspiracy and fraud Comedian Jay Leno begins his run as host of N-B-C's "The Tonight Show . (May 25)

Aussie Cibilic to meet Medina in WSL final

Australian rookie Morgan Cibilic has declared he'll be ready to rumble in the Rottnest Search WSL decider against world No.1 Gabriel Medina despite cutting his foot in his semi-final triumph.

Madden's 'Lethal' AFL transition for Lions

James Madden knew heɽ be starting again from the bottom when he opted to leave Ireland and chase an AFL career.But it's taken just two games for the Brisbane Lions speedster to attract praise from the very top.

Rally at Minn. Capitol on eve of Floyd anniversary

Activists and family members of victims rally outside the Minnesota State Capitol, calling for legislation that holds authorities accountable and reopens police abuse cases. (May 24)

UPDATE 1-Masks, social restrictions return to Australia's Melbourne after fresh outbreak

Australia's second largest city Melbourne reinstated COVID-19 restrictions on Tuesday as authorities scrambled to find the missing link in a fresh outbreak that has grown to five cases. "This is a responsible step that we need to take to get on top of this outbreak," James Merlino, Victoria state's acting premier, told reporters in Melbourne. Victoria was the hardest-hit state during a second wave late last year, accounting for about 70% of total cases and 90% of deaths in Australia.


Watch the video: Soda vs Energy drink Monster vs Coca Cola (June 2022).