Per Regulatory Requirements, Splash Beverage Group Addresses the High Trading Activity and Enters Into the Appeal Process With NYSE American
Regarding the trading activity, the NYSE American Company Guide states the following:
Whenever unusual market action takes place in a listed company's securities, the company is expected to make an inquiry to determine whether rumors or other conditions requiring corrective action exist, and, if so, to take whatever action is appropriate. If, after this review, the unusual market action remains unexplained, it may be appropriate for the company to issue a 'no news' release -- i.e., announce that there has been no material development in its business and affairs not previously disclosed or, to its knowledge, any other reason to account for the unusual market action.
The Company acknowledges that to the best of its knowledge, it has not experienced any material developments since its last announcement regarding its potential merger/acquisition with Western Son Vodka. Furthermore, the Company believes this unusual trading activity is due in part to algorithmic computer trading and short selling activities.
Regarding the appeal process, the Company states the following:
The Company will enter the appeal process with the Exchanges Listing Qualifications Panel and was informed that during the appeal process, (subject to any trading halts) it will continue to trade both common stock and warrants on the NYSE American.
The Company notified the Listing Qualification Panel within the required 7 days after receipt of the Notice. The Company believes and remains confident it will be able to cure the remaining deficiency in its shareholder equity within the 60-to-90-day appeal process.
The Company was out of compliance with Sections 1003(a)(i), (ii) and (iii) of the Listed Company Manual by the end of the 18-month compliance plan period, which expired on April 6, 2025. The Company maintains it will meet the requirements but there is no guarantee of success.
About Splash Beverage Group
Splash Beverage Group, an innovator in the beverage industry, owns a growing portfolio of alcoholic and non-alcoholic beverage brands including Copa di Vino wine by the glass, SALT flavored tequilas, Chispo tequila and Pulpoloco sangria. Splash's strategy is to rapidly develop early-stage brands already in its portfolio as well as acquire, and then accelerate, brands that have high visibility or are innovators in their categories. Led by a management team that has built and managed some of the top brands in the beverage industry and has led sales from product launch into the billions, Splash is rapidly expanding its brand portfolio and global distribution.
Follow Splash Beverage Group on Twitter: www.twitter.com/SplashBev
For more information visit:
www.SplashBeverageGroup.com
www.copadivino.com
www.drinksalttequila.com
https://chispotequila.com
www.pulpo-loco.com
Forward-Looking Statement
This press release includes 'forward-looking statements' within the meaning of U.S. federal securities laws. Words such as 'expect,' 'estimate,' 'project,' 'budget,' 'forecast,' 'anticipate,' 'intend,' 'plan,' 'may,' 'will,' 'could,' 'should,' 'believes,' 'predicts,' 'potential,' 'continue' and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, the risks disclosed in the Company's Annual Report on Form 10-K filed with the SEC on March 29, 2024, and in the Company's other filings with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.
Contact Information:
Splash Beverage Group
[email protected]
954-745-5815
View the original release on www.newmediawire.com
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