CHATSWORTH, CA / ACCESSWIRE / June 4, 2018 / Cavitation Technologies, Inc. (CTi) (OTCQB: CVAT) (BERLIN: WTC) is pleased to announce the completion of an agreement to license its patented alcohol beverage technology to Alchemy Beverages Inc. (ABI). This agreement also contains the sale of Cameo USA, LLC. to ABI, including the Cameo Vodka brand, produced in the United States and rated 95 points by The Beverage Testing Institute (tastings.com).
Neil Voloshin, COO/CFO of CTi, confirms, "We are delighted to establish this relationship with ABI and launch the award-winning Cameo Vodka later this year. Through the structure of this agreement, CTi will participate in the success of this venture with a combination of stock ownership and royalty payments."
As part of this agreement, ABI has acquired patent rights to distribute a home appliance, leveraging the same technology originally applied to the award-winning Cameo Vodka. ABI is proceeding on the design and expects to introduce this product in the second quarter of 2019.
Mark Geist, CEO of ABI, adds, "We are excited to have concluded the agreement with CTi and look forward to both ABI and CTi's shareholders recognizing the significant economic benefits from the transaction. With the completion of this agreement, we are aggressively moving forward into the next phase which will be the launch of Cameo Vodka later this year, followed by the design and completion of the BarMuze home appliance. Having the advantage of Cameo Vodka being the highest rated vodka produced in the United States and the only vodka in the world to apply Refined Distillation Technology gives us a clear advantage in this multi-billion dollar market."
Refined Distillation Technology (RTD) is the first completely new technology to be applied to the production of vodka since it was first introduced in the 15th century. This technology reduces harmful impurities, enhances the taste profile, and creates the smoothest most enjoyable spirit on the market today, with the added benefit of reducing the probability of a hangover.
Founded in 2007, the company designs and manufactures state-of-the-art, flow-through, devices and systems as well as develops processing technologies for use in edible oil refining, renewable fuel production, expeditious petroleum upgrading, algal oil extraction, alcoholic beverage enhancement, water treatment, and the extraction of cannabidiol (CBD). As an add-on to its existing neutralization systems, the company's patented Nano Reactor™ allows refiners to significantly reduce both processing costs and environmental impact, while also increasing yield. http://www.ctinanotech.com/
About Alchemy Beverages Inc.
ABI is a technology-driven brand developer and distributor of alcoholic beverages and fluid processing home appliance.
- Cameo USA, LLC
- BarMuze LLC
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements regarding the anticipated installation and the timing of the installation, our intent to continue to focus on research and development, marketing and sales of our unique technology, our belief that our company is positioned for accelerated growth and the expected efforts to be made to enhance our shareholder's value. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties, certain of which are beyond the Company's control. Actual results could differ materially from these forward-looking statements as a result of a variety of factors including, among others, the state of the economy, the competitive environment and our ability to perform the installation as anticipated and other factors described in our most recent Form 10-K and our other filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. In light of these risks and uncertainties, there can be no assurances that the forward-looking statements contained in this press release will, in fact, transpire or prove to be accurate. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
SOURCE: Cavitation Technologies, Inc.