Blue Water Provides General Shareholder Update

By GlobeNewswire,  August 25, 2014, 08:00:00 AM EDT


CANTON, Ga., Aug. 25, 2014 (GLOBE NEWSWIRE) -- Blue Water Global Group, Inc. (OTCBB:BLUU) is issuing this update to keep its shareholders apprised of the current state of progress and timing for both its premium rums and Blue Water Bar & Grill™ presently under development in St. Maarten, Dutch West Indies. Both projects are now expected to incur small delays in timing - mostly as a result of last minute changes/corrections made by Blue Water's management to ensure perfection both with the rum production and the construction of the restaurant.

Premium Rums

Like most major brands in the alcoholic industry, our bottles are being manufactured in China. Based on the latest update from our bottle manufacturer these frosted finished luxury bottles with silk screen printing, inclusive of custom aluminum corks and high quality cardboard box cases, should be shipped around the third week of September 2014. Blue Water has been advised that it will take approximately 40 days on the sea for the bottles to reach our bottling facility in Santo Domingo, Dominican Republic. Once the bottles have shipped from China we should be able to provide an additional update with a more specific time period for the launching our premium rums - Blue Water Ultra Premium Rum™ and Blue Water Caribbean Gold™. At the moment, and based on this shipping schedule, we presently are forecasting about an 8 - 10 week delay from our original target window of late Summer 2014, which would put our rums on retail shelves in late November to early December 2014.

Despite this slight delay, we are simultaneously releasing on our Facebook page a teaser of our forthcoming marketing campaign showing the original Blue Water girl. Shareholders will be able to meet her and the other Blue Water girls during the planned launch events that will be announced at a future time.

Aside from the foregoing, Blue Water is receiving a notable increase in interest from potential purchasers of its premium rums living within the United States. Due to the number and complexity of US laws and regulations concerning the import and consumption of alcoholic beverages, we cannot legally ship our rums to consumers in the US until we start legally exporting to the US market, which is presently not planned until 2016. We are exploring some alternative and stop-gap measures to allow limited exportation to the US between now and when full scale US exportation and distribution can be implemented. Investor relations is keeping a list of interested purchasers residing in the US. You may request to be put on the interest list by e-mailing ir@bluewaterglobalgroup.com.

Blue Water Bar & Grill™

In answer to many shareholders' question, construction has not begun on the Blue Water Bar & Grill™ located in Indigo Bay (www.indigo-bay.com), St. Maarten, D.W.I. As with construction projects around the world, Blue Water must first receive government approval and have the requisite building permits issued. Like with many governments timing on this matter is a very gray area. Based on a meeting with Blue Water's architect last week, the best projection on when we can expect to have the necessary permits issued is November/December 2014. As soon as there is any material update to this guess based on our architect's professional experience, Blue Water will issue an update to its shareholders. Based on this estimate of when the necessary building permits will be issued, we presently are forecasting a three to four month delay from our original target window of late 2014, which would put the grand opening sometime in March or April 2015.

On a brighter note, the actual construction time is expected to take between 90 to 120 days. During this projected construction window there are rarely storms or other such elements in the Caribbean that could cause uncontrollable delays.

Blue Water's President and CEO, J. Scott Sitra, stated, "I apologize to our shareholders for these delays in both businesses. We needed to make some small changes to the bottle for full scale production purposes at the last minute which caused a delay in the manufacturing process. We also made a small adjustment in the restaurant's definitive design to increase the seating area in the bar area which will allow for more customers to enjoy our food and drinks in a more casual setting. Now we must pay the price and wait for our turn in both manufacturing and the issuance of building permits." Mr. Sitra added, "Nevertheless, I feel it was more practical and cost-effective to experience a small delay now rather than incurring additional expenses later for correcting imperfections after the concrete had been poured. I hope our shareholders understand and appreciate the fact we are focused on the details and want to make sure everything is done right."

About Blue Water Global Group

Blue Water Global Group, Inc. is a publicly held developer of casual dining restaurant properties and premium distilled spirits. Blue Water is currently developing a chain of casual dining restaurants in popular tourist destinations throughout the Caribbean under the Blue Water Bar & Grill™ brand and a line of premium rums which include the flagship rum Blue Water Ultra Premium Rum™ and aged spiced Blue Water Caribbean Gold™ Premium Rum. Additionally, Blue Water is engaged in making strategic equity investments in promising businesses that are in the early stages of obtaining their own listing on the OTCBB. For more information, visit www.bluewaterglobalgroup.com.

Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties.  There can be no assurance that such forward-looking statements will prove to be accurate.  Actual result and future events could differ materially from those anticipated in such statements.  These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.  Blue Water Global Group, Inc. ("Blue Water") assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws. For a description of additional risks and uncertainties, please refer to Blue Water's filings with the Securities and Exchange Commission, including "Risk Factors" in its Annual Report filed on Form 10-K.

CONTACT: Investor Relations

         949.264.1475
         ir@bluewaterglobalgroup.com

Source: Blue Water Global Group, Inc.

This article appears in: News Headlines

Referenced Stocks: BLUU


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