NEW YORK, May 5, 2014 /PRNewswire/ — Panache Beverage Inc. (OTCQB: WDKA) (the “Company” or “Panache”), announced the appointment of Thomas G. Smith as Chief Financial Officer, effective April 29th.
Mr. Smith brings over 20 years of financial and accounting experience to the Company. He most recently served as Chief Financial Officer of Newport International, LLC, a multi division/multi-locations international import/export distribution and food and beverage manufacturing organization with annual sales of 100 million.
Michael Romer, Interim President and CEO of Panache Beverage Inc., stated that, “We are pleased that we were able to find a candidate that is experienced in public company financial matters and who will be able to work in the Florida facility.” Mr. Smith will be based at Panache Distillery as Panache’s administration and operations transition there.
Recently at the Distillery, the Company debuted its new Old South Shine brand. The moonshine was created specifically to fulfill an immediate need for Premier Beverage in Florida. Panache Beverage Inc. anticipates expanding the brand into additional markets in the near future following its initial roll-out.
In addition to the launch of Old South Shine, Panache is in the process of installing a 2nd bottling line in its distillery facility. This will double current bottling capacity and provide the distillery with the ability to bottle up to 1 million cases per year.
Mr. Smith concludes, “I am excited to become the Chief Financial Officer of Panache Beverage Inc. and look forward to assisting the Distillery to develop into the foundation of the Company.”
About Panache Beverage
Panache Beverage, Inc., based in New York, NY, is an alcoholic beverage company specializing in the development, global sales and marketing of spirits brands. The company’s expertise lies in the strategic development and aggressive early growth of its brands establishing its assets as viable and attractive acquisition candidates for the major global spirits companies. Panache intends to build its brands as individual acquisition candidates while developing, creating and expanding its portfolio via the Panache Distillery. Panache’s existing portfolio consists of the brands: Wodka Vodka, Alchemia Infused Vodka, AlibiAmerican Whiskey, Spirytus Vodka, Old South Shine Vodka in addition to the forthcoming OGB line of spirits.