Hong
Kong, Jun 7, 1999 /PRNewswire via COMTEX/-- CBR Brewing Company,
Inc. (OTC Bulletin Board: CBRB) (the "Company") announced
today that Noble China Inc. (Toronto: NMO), a public company listed
on the Toronto StockExchange, issued a press release on May 27,
1999 to announce that Noble China Inc. had acquired from Pabst Brewing
Company, USA the exclusive rights to brew and distribute Pabst Blue
Ribbon beer throughout China for 30 years, from 2003 to 2033. To
date, the Company has been unable to verify whether such a license
has in fact been granted, the terms of any such license, and whether
it is subject to any conditions.
The Company, through its subsidiaries
and affiliates, is engaged in the production, distribution and
marketing of Pabst Blue Ribbon beer in China. Through a Sino-foreign
joint venture, the Company is currently the holder of a sublicense
to produce and distribute Pabst Blue Ribbon beer in China that
expires in November 2003. Through a subsidiary, the Company owns
a 40% interest in another Sino-foreign joint venture that owns
a brewing complex in Zhaoqing, China, the other 60% of which is
owned by a subsidiary of Noble China Inc.
The Company is in the process of
obtaining information on the announced new license, at which time
the Company expects to be in a position to evaluate and revise
its business plan and strategy accordingly. The Company is currently
unable to predict the effect that this development may have on
future operations.
This press release may contain forward-looking
statements reflecting something other than historical fact about
the Company's operations and future prospects. These forward-looking
statements involve a number of risks and uncertainties. Additional
information on factors that could potentially have a material
effect on the Company's operations and future prospects is contained
in the Company's filings with the U.S. Securities and Exchange
Commission. Actual results that the Company achieves may differ
materially from any forward-looking statements due to such risks
and uncertainties. The Company undertakes no obligation to revise
or update any forward-looking statements in order to reflect events
or circumstances that may arise after the date of this news release.
For further information, contact
investor relations for CBR Brewing Company, Inc. in Los Angeles,
California at (818) 789-0488.
SOURCE CBR Brewing Company, Inc.
(C) 1999 PR Newswire. All rights reserved.
CONTACT: Investor Relations for
CBR Brewing Company, Inc., 818-789-0488
