Avalanche Int'l Reports Purchase Update of JS Technologies, Maker of Suhr Brand
Company Reaffirms Name Change of Subsidiary to Puff Systems, LLC, Divestiture Possible
LAS VEGAS, NV -- (Marketwired) -- 01/26/16 -- Avalanche International, Corp (OTC PINK: AVLP) announced today that it has made progress in its raising of capital for the purchase of JS Technologies, Inc., the maker of Suhr brand guitars. The Company has received multiple term sheets inclusive of both equity and debt financing that are undergoing due diligence, along with commitments of owner rolled-equity and offers to finance the plant, property and equipment. JS Technologies, Inc. is maker of world-renowned Suhr guitars, Custom Audio amplifiers and other branded high-end musical instruments and electronics.
John Suhr stated, "We are very excited about moving forward with AVLP. AVLP leadership has demonstrated commitment to the same core values that JS Technologies was founded upon. Their commitment to US manufacturing, respect for high quality craftsmanship, attention to detail and quality customer service, is without question."
"Having worked closely with the JS Technologies management team since July 2015, I am firmly convinced that the team has built a strong foundation for the company that includes a deep commitment to quality and manufacturing excellence as its cornerstones. It is upon this foundation that the team will scale their American based manufacturing platform across all existing and future musical instrument and accessory brands," said Philip Mansour, President and CEO of Avalanche International, Corp.
The Company reported that some of the term sheets providing financing for the purchase of JS Technologies include a stipulation that requires AVLP to become a publicly traded musical instrument holding company. The clause will require AVLP to either sell or divest its wholly-owned subsidiary, Smith and Ramsay Brands along with Puff Systems and all its interest in the Vape marketplace. In a related note, the Company reaffirmed the name change of the subsidiary to Puff Systems, LLC. The Company's sale or divestiture is dependent on the set of term sheets it ultimately accepts and will be completed sometime after the close of the transaction with JS Technologies.
This past week the National Associaiton of Music Merchants held their annual conference and expo at the Anaheim Convention Center with over 100,000 attendees. JS Technologies successfully presented its new products for 2016 and hosted factory visits for its dealers and other attendees during the event. NAMM is one of the two largest events for musical instrument manufacturers and is a key platform to showcase the Suhr family of brands and products. Mr. Mansour offered this compliment, "JST did very well in presenting its new products for the year to the show's attendess and its dealer base while providing a wonderful showcase of its products in two nights of private hosted parties."
The Company stated it is very optimistic it will soon close the purchase of JS Technologies and reminds all investors, shareholders and creditors that this transaction is dependent upon the Company obtaining the necessary financing through debt and/or equity financing arrangements. Although the management of the Company is working to secure the capital required to close this transaction, which they believe is imminent, there is a risk that such additional financing will not be available to the Company on acceptable terms or in the amounts required.
The Company recommends any investors to read its 8K and other public reports and financials filed with the Securities Exchange Commission for further information. All public filings, financials and other information are available on the Company's web site as well as on http://www.sec.gov, www.OTCMarkets.com and many other financial news reporting web sites and portals. The Company's web domain is www.AvalancheInternationalCorp.com and its subsidiary's is SmithandRamsay.com.
About Avalanche International Corp.
Avalanche International, Corp is a Nevada corporation and holding company, publicly traded on the OTC Markets platform. The Company is focused on creating superior long-term returns for shareholders through a unique structure of diversified holdings and currently has one wholly owned subsidiary, Smith and Ramsay Brands, LLC, a manufacturer and distributor. The Company has selected a mergers and acquisitions strategy as its primary growth driver for the foreseeable future leveraging the Wall Street and activist background of its Chairman along with the vast corporate integration and management talents of its President and CEO.
About JS Technologies, Inc.
JS Technologies, Inc. is a California corporation with its state of the art manufacturing facility in Lake Elsinore, CA. The Company was co-founded in 1997 by John Suhr and Steve Smith to produce the award winning custom Suhr guitars, and amplifiers with other branded instruments and electronics. Suhr is manufactured with the highest quality products and craftsmanship customized to the taste of each and every customer. The company branded products are distributed worldwide through over 179 dealers in over 49 countries. Dedication in product and service has earned worldwide brand loyalty and consumer satisfaction and demand. For more information, visit their url, www.suhr.com.
Forward-looking & Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company cautions that these forward-looking statements are further qualified by other factors. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Source: Avalanche International Corp
Released January 26, 2016