1812 Brewing Company Shareholder Update

-- Company Progressing on Several Fronts --

WATERTOWN, NY / ACCESSWIRE / January 27, 2023 / 1812 BREWING COMPANY, INC. (OTC Markets:KEGS) (the "Company" or "KEGS") is pleased to update its shareholders and the market on several fronts as the Company progresses forward with its strategy.

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• 1812 Brewing Company has presented a potential acquisition candidate an Indication of Interest ("IOI") letter, which has led to in-person meetings with top management at the target. We expect these meetings to occur in the following weeks, and we seek to derive from them a binding Letter of Intent ("LOI"). This acquisition - if transacted - would be potentially transformational for 1812 Brewing Company in that it would allow the Company to show "proof of concept" with our brewery network strategy. The deal is contingent upon final terms and financing.
• 1812 Brewing Company's entrance into the Canadian market is progressing. As stated previously, the Company has chosen to enter the market in the Province of Ontario and, as such, is applying for product approvals with the Liquor Control Board of Ontario ("LCBO"). As products are approved it would clear the pathway for any to be sold at up to 450 of The Beer Store (www.thebeerstore.ca) locations and possibly through the LCBO's own stores (Wine Spirits Beer | LCBO), which are approximately 650. As this process continues, management will be sure to update shareholders.
• Management is also considering investments and acquisitions outside the beer market with beverages that we feel are complementary to our own. To this end, we have begun initial discussions with a bourbon brand that has achieved numerous awards and gained immense popularity in a relatively short period. The talks have just begun, and we will be sure to also update you if these discussions develop further.
• Finally, also as previously announced, 1812's flagship product continues to be sold on TapRm.com's website direct-to-consumers in 45 states plus Washington DC at:
  https://1812-brewing.taprm.com/all-products
  Sales at TapRm.com remain strong, and we hope to add additional products to our portfolio there.

Thank you for your continued support, and we look forward to updating you all on the Company's developments and continued progress.

Foto: Accesswire

About 1812 Brewing Company ("KEGS or the "Company"):

KEGS is an operator of and investor in companies in the craft beer industry. The Company seeks to build a nation-wide network of craft breweries to develop and foster respective brand growth at the local, regional, and national level. KEGS looks to build a network wherein certain economies of scale can be shared across it such as production, distribution footprint expansion, inter-member contract brewing, new product development, sharing of best brewery practices and scale logistics and transportation. The network is to be built through investment by 1812 Brewing Company while maintaining the members' respective local and regional uniqueness, brand autonomy and direct involvement with its consumers. The Company seeks to be an "incubator" of growth for its holdings in the industry.