Fresh Vine announces exploration of strategic opportunities

Fresh Vine Wine announced that its board of directors has initiated an exploration of strategic opportunities by way of merger, acquisition, or any accretive strategic transaction to enhance shareholder value. There can be no assurance that this process will result in the company pursuing a particular transaction or other strategic outcome. Fresh Vine Wine has not set a timetable for completion of this process. Fresh Vine Wine has engaged its Investment Banker Oak Ridge Financial to lead the process of sourcing and vetting opportunities, Oakridge Financial is currently acting as the exclusive banker for this transaction and all inquiries should be directed to Oakridge Financial. As of August 14, 2023, the Company had 15,976,227 shares of common stock outstanding and no secured debt.