Brief: Eastside Distilling says Board Has Instructed Management To Explore Opportunities For Selling All Or A Portion Of Assets Dedicated To Spirits Business

Beeline Holdings

14/12/2022 20:25

Dec 14 (Reuters) - Eastside Distilling Inc  EAST.O :
    * EASTSIDE DISTILLING - BOARD HAS INSTRUCTED MANAGEMENT TO EXPLORE OPPORTUNITIES FOR SELLING
ALL
OR A PORTION OF ASSETS DEDICATED TO SPIRITS BUSINESS
    * EASTSIDE DISTILLING INC - PURPOSE OF SUCH A SALE WOULD BE TO REDUCE COMPANY'S DEBT BURDEN,
TO
IMPROVE ITS LIQUIDITY
    * EASTSIDE DISTILLING  - CO WILL SELL ITS SPIRITS ASSETS ONLY FOR FAIR VALUE AND ON TERMS
THAT
MANAGEMENT CONSIDERS TO BE IN CO’S BEST INTEREST
    * EASTSIDE DISTILLING -  PURPOSE OF SUCH A SALE WOULD BE ENABLE CO TO FOCUS ITS RESOURCES ON
DEVELOPMENT OF  CRAFT DIGITAL CAN PRINTING BUSINESS

Source text - https://bit.ly/3hyuuLc
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