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News Room / New Age Beverages Announces Promotion of Chuck Ence to Chief Financial Officer

New Age Beverages Announces Promotion of Chuck Ence to Chief Financial Officer

Brings 20+ Years of Experience in the Beverage Industry to the Role in Senior Executive Financial Roles with New Age, Qualcomm, and Pepsico

DENVER, CO / ACCESSWIRE / October 17, 2016 / New Age Beverages Corporation (OTC: NBEV) the Colorado-based owner of the XingTea®, XingEnergy®, Aspen Pure®, and the Búcha® Live Kombucha brands today announced that Charles "Chuck" Ence has been promoted to the role of Chief Financial Officer for New Age Beverages Corporation.

Mr. Ence brings over 20 years of beverage experience in senior finance roles to the position. For the past 13 years, he served as the Chief Financial Officer and part owner for New Age Beverages, LLC, a private beverage company based in Denver, Colorado, until its acquisition by Bucha, Inc. on June 30, 2016. In this role, he managed all the financial affairs of New Age and their other portfolio companies helping lead the firm into becoming one of the top 100 non-alcoholic beverage companies worldwide. He helped guide the expansion of the business to ultimately penetration of 46 states domestically and 10 countries internationally, with consistent growth and profitability throughout his tenure.

Prior to New Age, Chuck was a senior executive, Planning Manager and Director of Finance for Quantum Corp. Following Quantum he served as a Director of Finance and Investor Relations at On Command Corp. Mr. Ence began his career at PepsiCo. During his 12 years at Pepsi, Mr. Ence served as a financial analyst, planning supervisor, planning and analysis manager and ultimately controller. He received his Bachelor of Arts in Business Administration and Accounting from Southern Utah University in 1984, and obtained a Masters in Business Administration in Finance from Arizona State University School of Business in 1985.

Mr. Ence replaces Robert Miranda, who sadly passed away late last week after a valiant battle with cancer. Bob served as Chief Financial Officer for the Corporation for a brief period of time through the transition and acquisition of New Age that was completed at the end of the second quarter.

Brent Willis, Chief Executive of New Age Beverages Corporation commented, "We are so pleased to have someone of the quality and experience of Chuck Ence take the financial reins of the Company. He has the depth and experience and history to make a huge difference for the Company going forward. At the same time, we are sad to lose a friend and colleague in Bob Miranda. Bob was a world-class CFO and a very good guy. He will be sorely missed. Although we were prepared for what might happen with Bob from a business standpoint, from a personal standpoint it is nonetheless challenging, and we wish his family the best in this difficult period."

About New Age Beverages Corporation (nBev):

New Age Beverages Corporation is a Colorado-based, healthy functional beverage company originally founded in 2003 and re-created via the combination of XingTea®, Aspen Pure® Artesian Water, Búcha® Live Kombucha, and New Age Beverages in June 2016. The Company trades under the newly issued symbol nBev on the OTC exchange. The Company competes in the fast growing healthy functional beverage segments including Ready to Drink (RTD) Tea, Kombucha, Energy Drinks and Functional Waters with the Brands XingTea®, Búcha® Live Kombucha, XingEnergy®, and Aspen Pure®. The brands are sold in 46 states within the US and in more than 10 countries internationally across all channels via direct and store door distribution systems. The company operates the websites www.mybucha.com, www.xingtea.com, www.aspenpure.com.

Safe Harbor Disclosure:

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statement reflecting management's current expectations regarding future results of operations, economic performance, financial condition and achievements of the Company including statements regarding New Age Beverage's expectation to see continued growth. The forward-looking statements are based on the assumption that operating performance and results will continue in line with historical results. Management believes these assumptions to be reasonable but there is no assurance that they will prove to be accurate. Forward-looking statements, specifically those concerning future performance are subject to certain risks and uncertainties, and actual results may differ materially. New Age Beverages competes in a rapidly growing and transforming industry, and other factors disclosed in the Company's filings with the Securities and Exchange Commission might affect the Company's operations. Unless required by applicable law, nBev undertakes no obligation to update or revise any forward-looking statements.

For investor inquiries about New Age Beverages Corporation please contact:

Chuck Ence
[email protected]

Websites:
www.mybucha.com
www.xingtea.com
www.aspenpure.com

SOURCE: New Age Beverages Corporation

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