SYDNEY, AU, Sept 28, 2024 - (ACN Newswire via SeaPRwire.com) - Innovation Beverage Group Limited ("IBG" or the "Company"), a developer, manufacturer, marketer, exporter and retailer of a growing beverage portfolio of 60 formulations across 13 alcoholic and non-alcoholic brands with a focus on premium and super premium brands, today announced the closing of its initial public offering (the "Offering") of 1,350,000 ordinary shares, at a public offering price of $4.00 per share for total gross proceeds to the Company of $5.4 million, before deducting underwriting discounts and offering expenses. In addition, the Company has granted a 30-day option to the underwriters to purchase up to an additional 202,500 ordinary shares solely to cover over-allotments, if any.The ordinary shares began trading on The Nasdaq Capital Market, under the symbols "IBG", on September 26, 2024. The Offering closed on September 27, 2024.The Benchmark Company, LLC acted as the sole book-running manager for the Offering. Sichenzia Ross Ference Carmel LLP served as legal counsel to the Company.A registration statement on Form F-1 (No. 333-266965) relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission (the "SEC") on September 25, 2024. The Offering was made only by means of a prospectus. Copies of the final prospectus may be obtained, when available, on the SEC's website, www.sec.gov, or by contacting The Benchmark Company, LLC, 150 East 58th Street, #17, New York, New York 10155, at (212) 312-6700.This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About Innovation Beverage Group LimitedInnovation Beverage Group Limited is a developer, manufacturer, marketer, exporter and retailer of a growing beverage portfolio of 60 formulations across 13 alcoholic and non-alcoholic brands with a focus on premium and super premium brands. The Company owns exclusive manufacturing rights in its beverage portfolio. The Company's products are sold in both the United States and Australian markets. To learn more, go to https://www.innovationbev.com/ .Safe Harbor Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "may", "could", "expects", "projects," "intends", "plans", "believes", "predicts", "anticipates", "hopes", "estimates" and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon several assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the Company's control. Actual results (including the anticipated benefits of the offering described herein) may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors described in the Company's filings with the Securities and Exchange Commission. The forward-looking statements are applicable only as of the date on which they are made, and the Company does not assume any obligation to update any forward-looking statements.Investor Relations Contact:TraDigital IRJohn McNamara917-658-2602John@tradigitalir.comSOURCE: Innovation Beverage Group Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Sept 27, 2024 - (ACN Newswire via SeaPRwire.com) - Nissin Foods Company Limited ('Nissin Foods', together with its subsidiaries, the 'Group'; Stock code: 1475) is pleased to announce that the Group, as the purchaser, entered into the Share Sale and Purchase Agreement with the Sellers and the Sellers' Guarantors (the 'Acquisition'). This agreement relates to the Acquisition of 100% of the issued share capital in ABC Pastry, a leading manufacturer of frozen dumplings which are either company branded (i.e. ABC Pastry) or third party branded in Australia.The consideration for the Acquisition is AU$33.7million (equivalent to approximately HK$178.6 million). Upon completion of the Acquisition, ABC Pastry will become a wholly-owned subsidiary of the Group engaged in the frozen food business in Australia market, catering to nationwide retailers.ABC Pastry is a well-known Australian brand based in Sydney, nationally recognised for its premium quality dumplings. It is an experienced manufacturer of frozen dumplings with a reputable brand known to the local Asian communities in New South Wales and Victoria, Australia. The Group believes that Nissin Foods being a listed company could provide valuable expertise and experience in the operational and financial management of ABC Pastry. The Acquisition would contribute to ABC Pastry's long-term development and enable the Group to diversify its business portfolio. Such diversification will broaden the Group's income sources, benefitting the Group and its shareholders.The Acquisition will present the Group with a premium opportunity to tap into Australian frozen food market. The Australian frozen food market size is expected to experience robust growth as the frozen dumplings, in particular, have been benefitting from the rising Asian migration to Australia. Additionally, there is a growing demand for convenient, high-quality frozen foods, driven by busy lifestyles and a desire for international cuisine such as Asian. The Group anticipates that the trend will continue, and there will be ample opportunities for expansion of the premium frozen food market in Australia.Mr. Kiyotaka ANDO, Executive Director, Chairman and Chief Executive Officer of Nissin Foods, said, 'The acquisition of ABC Pastry marks another milestone in our overseas market plan, soon after the joining of the Korean snack manufacturer Gaemi Food to the Nissin family in June. This latest acquisition will allow us to diversify our product offerings and distribution channels and aligns with our long-term corporate vision and strategy of strengthening our market presence in key overseas markets. By leveraging ABC Pastry's extensive local network and premium frozen products, Nissin Foods is well-positioned to enhance our connection with the local community and Australian consumers. We believe that the acquisition will reap significant operational and financial synergies through the integration of its business with ours, ultimately delivering increased value to shareholders.'For more information, please refer to the Announcement on the Hong Kong Stock Exchange website at:https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0927/2024092701479.pdfNissin Foods Company Limited acquires Australian frozen food manufacturerABC Pastry Holdings Pty Ltd. (second left) Mr. Kiyotaka ANDO, ExecutiveDirector, Chairman and Chief Executive Officer of Nissin Foods; (on the left)Mr. Shinji TATSUTANI, Executive Director and Chief Financial Officer, signthe Share Sale and Purchase Agreement with (second right) Mr. Peter GAO,Director and General Manager, ABC Pastry Holdings Pty Ltd; and (on the right)Mrs. Tong WU, Director, Min Investments Pty Ltd.Nissin Foods Company Limited acquires Australia frozen food manufacturer ABCPastry Holdings Pty Ltd. (From left to right) Mr. Shinji TATSUTANI, Executive Director and Chief Financial Officer of Nissin Foods; Mr. KiyotakaANDO, Executive Director, Chairman and Chief Executive Officer of NissinFoods; Mr. Peter GAO, Director and General Manager, ABC Pastry Holdings PtyLtd; and Mrs. Tong WU, Director, Min Investments Pty Ltd, attend the signingceremony of the Share Sale and Purchase Agreement.ABC Pastry is a nationally recognised brand renowned for premiumquality dumplings that includes dumplings and juicy buns (also known assoup dumplings) in Australia.About Nissin Foods Company LimitedNissin Foods Company Limited ('Nissin Foods', together with its subsidiaries, the 'Group'; Stock code: 1475) is a renowned food company in Hong Kong and Mainland China, with a diversified portfolio of well-known and highly popular brands, primarily focusing on the premium instant noodle segment. The Group officially established its presence in Hong Kong in 1984 and is the largest instant noodle company in Hong Kong. The Group primarily manufactures and sells instant noodles, high-quality frozen food products, including frozen dim sum and frozen noodles, and also sells and distributes other food and beverage products, including retort pouches, snacks, mineral water, sauce and vegetable products under its two core corporate brands, namely 'NISSIN' and 'DOLL' together with a diversified portfolio of iconic household premium brands. The Group's five flagship product brands, namely 'Cup Noodles', 'Demae Iccho', 'Doll Instant Noodle', 'Doll Dim Sum' and 'Fuku' are also among the most popular choices in their respective food product categories in Hong Kong. In the Mainland China market, the Group has introduced technology innovation through the 'ECO Cup' concept and primarily focuses its sales efforts in first-and second-tier cities. In addition, Nissin Foods operates business in other Asian regions including Vietnam, Taiwan and Korea markets.Nissin Foods is currently a constituent of five Hang Seng Indexes, namely: Hang Seng Composite Index, Hang Seng Composite SmallCap Index, Hang Seng Composite Industry Index - Consumer Staples, Hang Seng SCHK Consumption Index and Hang Seng SCHK Consumer Staples Index. Nissin Foods is eligible for trading under Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect. For more information, please visit www.nissingroup.com.hk. Copyright 2024 ACN Newswire via SeaPRwire.com.