Brick Brewing Co. Limited Reviewing Strategic Alternatives for Enhancing Shareholder Value

 
    WATERLOO, ON, May 14 /CNW/ - Brick Brewing Co. Limited (TSX: BRB) today
announced that it has commenced a review of strategic alternatives available
to the Company to enhance shareholder value, including, but not limited to,
offers to acquire shares or assets of Brick Brewing Co. Limited, a
recapitalization review or some form of business combination. The Company has
retained CIBC World Markets to assist in the review.
    There can be no assurance that the review will result in any specific
strategic or financial transaction being completed and no timetable has been
set for the completion of the review.
    "Brick Brewing has attained numerous strategic goals over the past
several years, creating a solid platform for future growth. We have
aggressively grown our market share in the value beer category with our Laker
brands, revitalized our core brands and premium beer portfolio, strengthened
our selling and marketing capabilities through new partner relationships and
improved selling programs, and have successfully executed a costly and
complicated manufacturing strategy which will allow us to continue to
profitably support this growth," said Doug Berchtold, President and CEO.
"These accomplishments position us well for the future."
    "Brick Brewing is at an exciting and important crossroad," said Jim
Brickman, Executive Chairman and Founder. "It is opportune at this time to
evaluate each of the alternatives available to us to best capitalize on our
future growth opportunities. To this end, the Board of Directors has
determined it is appropriate to undertake a comprehensive review of all of our
strategic and financial options to determine the best method to maximize
shareholder value."

    Brick Brewing Co. Limited is a regional brewer of award-winning premium
quality beers. The Company, founded by Jim Brickman in 1984, was the first
craft brewery to start up in Ontario, and is credited with pioneering the
present day craft brewing renaissance in Canada. Brick has complemented its
premium craft beers with other popular brands such as Laker, Red Cap and
Formosa Springs Draft. Brick trades on the TSX under the symbol BRB. Visit us
at www.brickbeer.com.

    Forward-Looking Statements

    All statements in this press release that do not directly and exclusively
relate to historical facts constitute forward-looking statements as of the
date of this press release. These forward-looking statements include the
statements concerning the Company's intention to review strategic
alternatives, manufacturing, distribution and other capacity improvements,
product demand, sales, reduced variable costs and margin improvements. These
forward-looking statements are not guarantees and are based on management's
expectations that improved operating efficiencies will be realized from the
additional production and distribution capacity and that product demand will
continue to grow. Although the Company believes these forward-looking
statements are based on information and assumptions which are reasonable,
there are a number of factors which could cause actual results to vary
materially from current expectations, including production delays, additional
start-up costs, operational issues or reduced product demand. An additional
factor to consider is that there can be no assurance that a review of
strategic alternatives will result in any type of transaction. The
forward-looking statements included in this press release are made only at the
date of this press release and the Company does not undertake to publicly
update these forward-looking statements to reflect new information, future
events or otherwise.
    %SEDAR: 00003334E
For further information: Doug Berchtold, President and CEO, Tel: (519)
576-9100 X247; Jim Brickman, Executive Chairman/Founder, Tel: (519) 576-9100
X232, E-mail: finance@brickbeer.com