Eastside Distilling, Inc. Updates Craft Canning + Printing Milestones

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Aug 31, 2022, 09:00 ET

PORTLAND, Ore., Aug. 31, 2022 /PRNewswire/ -- Eastside Distilling, Inc. (NASDAQ: EAST) ("Eastside" or the "Company"), a consumer-focused beverage company that builds craft inspired experiential brands and high-quality artisan products around premium spirits, digital can printing, co-packing and mobile filling, today announced that Craft Canning + Printing has printed and delivered more than two million cans from its Argyle printing operation. Craft acquired a Hinterkopf D240 digital can printer early in 2022 and started its aluminum digital can printing operation during the second quarter of 2022. The Company has ramped up printing to include two shifts and has reached the two million cans printed milestone earlier this month. Craft is supplying digitally printed cans to craft beverage customers throughout the Pacific Northwest.

Geoffrey Gwin, Eastside's Chief Executive Officer commented, "we have received an enthusiastic reaction from both existing and new customers since starting our digital can printing operation. This two million can milestone is just the first of many to come."

Craft's digitally printed cans have a number of benefits including high magazine quality printing, flexibly changing artwork and reducing supply chain costs. However, one of the greatest benefits is the fact all digitally printed cans are recyclable, which is not the case with some other forms of can decoration such as shrink sleeve applications.

About Eastside Distilling

Eastside Distilling, Inc. (NASDAQ: EAST) and its wholly owned Craft Canning + Printing have been producing high-quality, award-winning craft spirits as well as servicing craft beverage in Portland, Oregon, since 2008. The Company is distinguished by its highly decorated product lineup that includes Azuñia Tequilas®, Burnside Whiskeys®, Hue-Hue Coffee Rum®, and Portland Potato Vodka®. All Eastside spirits are crafted from natural ingredients for quality and taste. Eastside's Craft Canning + Printing subsidiary is the Northwest's leading independent mobile canning businesses and recently began digital can printing and co-packing through its recent asset acquisition.

Important Cautions Regarding Forward-Looking Statements

Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the impact of COVID-19 and related business disruption, the Company's ongoing financing requirements and ability to achieve any financing, acceptance of the Company's products in the market; the Company's success in obtaining new customers; the Company's success in product development; the Company's ability to execute its business model and strategic plans; the Company's success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the Company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. Examples of forward-looking statements in this release may include statements related to our strategic focus, product verticals, anticipated revenue and profitability, our ability to reduce operating or other expenses, the anticipated demand from the craft beer industry, the effects of COVID-19, including the impact on sales, and the success of initiatives implemented to address the business disruption resulting from COVID-19. The Company assumes no obligation to update the cautionary information in this press release.

SOURCE Eastside Distilling, Inc.