Appalachian Mountain Brewery has officially changed its name from North Carolina Natural Energy in a move that has been approved by the Financial Industry Regulatory Authority. The company will now trade under the new OTC stock symbol "HOPS." Shareholders do not need to take any action regarding this change.
This year, AMB plans to file Form D with US Securities and Exchange Commission and Form U2A with the North Carolina Secretary of State Securities Division, preparing to engage its 506c Crowd Funding. This will allow qualified investors to take advantage of the recently passed JOBS Act.
The JOBS Act allows high-net-worth investors to contact AMB to participate in its growth by purchasing preferred stock directly from the company in a private placement. More information will be provided on the company's website via investor inquiry once the regulatory filings are in place with US SEC and NC State Securities Division.
Meanwhile, AMB is currently in the process of consolidating financial statements that show the results of operations for 2013. The company is reporting that it was profitable, as craft beers are growing in popularity in the U.S. beer market. Data compiled by Bloomberg suggests that total American beer sales fell 2 percent in the first half of 2013, while the craft brew segment grew 15 percent.
According to the Brewers Association, craft breweries boosted the U.S. economy by creating 360,000 jobs and generating over $33 billion in revenue. The figure comes from the total impact of beer brewed by craft brewers as it moves through breweries, wholesalers, and retailers, as well as all non-beer products sold by brewpub restaurants.
One of Appalachian Mountain Brewery's (NYSE:AMB) shareholders, Mike Pruitt, CEO of Chanticleer Holdings (Nasdaq: HOTR), is providing assistance and introductions preparing AMB to enter into its private placement of securities in order to begin canning and distribution of its award-winning beer.
For more information on the JOBS Act and general information on the company, please visit check appalachianmountainbrewery.com
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