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SOURCE Castle Brands Inc.
NEW YORK, Oct. 9, 2013 /PRNewswire/ -- Castle Brands Inc. (NYSE MKT: ROX), a developer and international marketer of premium and super-premium branded spirits, today announced that its Gosling's Black Seal rum has been named a "Hot Prospect" based on accelerated sales growth in recent years. "Hot Prospects" awards were published in Impact, a leading wine and spirits industry newsletter.
Strong consumer demand for the Bermuda-distilled rum led to Gosling's surpassing the 100,000 case sales level for the first time in 2012. Interestingly, Black Seal was the only non-spiced rum to be honored, earning the coveted title by virtue of its pure, rich rum character. This distinctive taste led The Beverage Testing Institute to award Black Seal its highest honor, the Platinum Medal.
As John Glover, Chief Operating Officer of Castle Brands explained, "The continued growth of Gosling's rum reflects the growing popularity of the trademarked cocktail, the Dark 'n Stormy®." Long the National Drink of Bermuda, the Dark 'n Stormy is made with Gosling's Black Seal Rum and Gosling's own Stormy Ginger Beer.
However, that is just the beginning for Gosling's Black Seal. Malcolm Gosling, 7th generation President, goes a step further: "People are also discovering a myriad of uses for Black Seal, beyond the Dark n' Stormy. It brings a flavorful upgrade to any rum-based cocktail or even to several drinks not traditionally made with rum. It's that versatile, that special."
The "Hot Prospects" awards recognize brands with U.S. depletions of at least 50,000 cases but not over 200,000 cases in 2012, which achieved at least 15% growth over the previous year, along with consistent growth in 2011 and 2010.
About Castle Brands Inc.
Castle Brands is a developer and international marketer of premium beverage alcohol brands including: Gosling's Rum®, Jefferson's®, Jefferson's Presidential SelectTM and Jefferson's Reserve® Bourbon, Jefferson's® Rye Whiskey, Pallini® Limoncello, Raspicello and Peachcello, Knappogue Castle Whiskey®, Clontarf® Irish Whiskey, Brady's® Irish Cream, Boru® Vodka, Celtic Honey® Liqueur, Castello MioTM Sambuca, Gozio® Amaretto, Travis Hasse's Original® Pie Liqueurs and TierrasTM Tequila. Additional information concerning the Company is available on the Company's website, www.castlebrandsinc.com.
Forward Looking Statements
This press release includes statements of our expectations, intentions, plans and beliefs that constitute "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, related to the discussion of our business strategies and our expectations concerning future operations, margins, sales, new products and brands, potential joint ventures, potential acquisitions, expenses, profitability, liquidity and capital resources and to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. You can identify these and other forward-looking statements by the use of such words as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "thinks," "estimates," "seeks," "expects," "predicts," "could," "projects," "potential" and other similar terms and phrases, including references to assumptions. These forward looking statements are made based on expectations and beliefs concerning future events affecting us and are subject to uncertainties, risks and factors relating to our operations and business environments, all of which are difficult to predict and many of which are beyond our control, that could cause our actual results to differ materially from those matters expressed or implied by these forward looking statements. These risks include our history of losses and expectation of further losses, our ability to expand our operations in both new and existing markets, our ability to develop or acquire new brands, our relationships with distributors, the success of our marketing activities, the effect of competition in our industry and economic and political conditions generally, including the current economic environment. More information about these and other factors are described under the caption "Risk Factors" in Castle Brands' Annual Report on Form 10-K for the year ended March 31, 2013 and other reports we file with the Securities and Exchange Commission. When considering these forward looking statements, you should keep in mind the cautionary statements in this press release and the reports we file with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and we cannot predict those events or how they may affect us. We assume no obligation to update any forward looking statements after the date of this press release as a result of new information, future events or developments, except as required by the federal securities laws.
Contact: Donna Hibbert, 646-356-0200
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