SOURCE: Harbor Brewing Company
Management Also Announces Reduction of Authorized Shares to 250,000,000
SACKETS HARBOR, NY–(Marketwire – August 16, 2010) – Harbor Brewing Company, Inc. (
Thomas Scozzafava, Chairman and President of Harbor Brewing Company stated, “We were very pleased with the increase in traffic and business this summer, and we hope this strength continues.”
Separately, Mr. Scozzafava added, “Further, management has decided to reduce the authorized shares of the company to 250,000,000. At current share prices it would be unlikely that the current number of authorized shares would be necessary.”
About Harbor Brewing Company, Inc.
Harbor Brewing Company, Inc. develops and acquires craft brewing companies and select craft beer labels. The company acquired Sackets Harbor Brewing Company (“SHBC”) (www.1812ale.com) in August 2009. SHBC develops, produces, and markets micro brewed beers such as the award winning “War of 1812 Amber Ale” and “Thousand Island Pale Ale” as well as “Railroad Red Ale”, “1812 Amber Ale Light” and “Harbor Wheat” specialty beers. Its “1812 Amber Ale” is the company’s flagship brand and was the winner of a Silver Award at the World Beer Championship. The company has also developed complementary products such as Sackets Harbor Coffee and Sackets Harbor Brewing Co. Root Beer.
About Seaway Valley Capital Corporation (www.seawayvalleycapitalcorp.com) makes equity, equity-related, and debt investments in companies that require expansion capital. Seaway also seeks investments in leveraged buyouts and restructurings. Seaway will consider investment opportunities in a number of different industries, including retail, restaurants, consumer products, media, business services, manufacturing, and select technologies. Seaway Valley’s current portfolio includes Hackett’s Stores, Inc. (
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Harbor Brewing Company, Inc.
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