USA: East Coast Beverage Corp. merges with Star Talk Holdings, Inc.
East Coast Beverage Corp., (OTCBB:ECBV), the second largest producer of ready-to-drink bottled coffee beverages in the United States, announced today that it has signed a definitive merger agreement to consolidate ECBV with Star Talk Holdings Inc., a privately held telecommunications and Internet Service Provider (ISP) with offices in south Florida. Alex Garabedian, President of East Coast Beverage said, "The strategic business plan for East Coast will be accelerated in growth by several years and the financial benefits to the combined companies are too numerous to mention in this release." In addition, Garabedian stated, "We expect the economies of the merger to kick in immediately and drastically reduce our burn rate getting East Coast to profitability as early as January 2001." Chief Executive Officer and Chairman of Star Talk Holdings, Jack Namer, a former consultant for East Coast Beverage Corp., is quoted as saying, "Our merger with ECBV is exactly the opportunity we were seeking to assist us as we move forward from an already profitable position as a telecom provider to the forefront as a national host of affinity web-sites and virtual ISP's." The Company's telecommunications division reported $5.8 million in revenues with gross profits in excess of 50% for the year ending October 31, 2000." Namer added, "Cross promotion of our products by utilizing ECBV's demographics and projections of shipping 75,000,000 bottles in 2001, will greatly assist in accelerating StarTalk's business model. The combined entities will apply for NASDAQ listing. The Company has planned to host a shareholders conference call on Wednesday, November 8th at 4:15 p.m. EST. To participate please dial 1-800-482-5547.
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