In recent times, 1812 Brewing Company Inc (OTCMKTS:KEGS) has made a number of interesting moves and it was in the news once again back on Friday after it came up with an update for shareholders.
On Friday, KEGS stock moved down 8.33% to $0.0005 with more than 96.92 million shares, compared to its average volume of 145.10 million shares. The stock moved within a range of $0.0004 – 0.0006 after opening trade at $0.0006.
1812 Brewing Company Shareholder Update
The company provided a range of updates and it may be a good idea to take a look into the highlights before the opening of the markets today. It was noted that not too long ago it had presented a letter expressing Indication of Interest to a potential acquisition candidate. That had led to face to face meetings with the management of the target company. 1812 Brewing Company noted that in the coming weeks it was looking to ink a definitive letter of intent.
The company also announced that its entry into the Canadian market was progressing well and had applied to the Liquor Board of Ontario for approval of its products in the state.
On the other hand, the management at the company was also looking into the possibility of investing and acquiring beverages outside the beer market. The company would be targeting those beverages which could be complementary to its own products. It remains to be seen if the stock sees any action today.