GlobeNewswire Inc | Jan 26, 2022 08:00AM EST

January 26, 2022

ATLANTA, GA, Jan. 26, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire Yuenglings Ice Cream Corporation (Yuenglings) (OTC PINK: ARSN) is pleased to announce that it has signed a Letter of Intent (LOI) for the acquisition of an ice cream production facility.

The counterparty to the sale has requested that its name remain confidential for the moment. Both parties expect the transaction to close by the end of March 2022. Additional details of the deal will be released in the next few weeks.

While specific details are not yet being made available, we are very excited about the acquisition as it will not only allow the company to produce Yuenglings ice cream but also ice cream for other brands, commented Rob Bohorad, Yuenglings President and CEO. In addition, with ice cream production availability limited across the country, this facility will help ensure a reliable supply of products. Finally, we are continuing to work diligently on this and several other initiatives and plan to provide additional updates in the very near future.

About Yuenglings Ice Cream

Yuenglings Ice Cream was founded by American businessman Frank D. Yuengling in 1920 to help support the Yuengling family brewery during Prohibition, which lasted from January 1920 to December 1933. Spun off as a separate company from the brewery in 1935, Yuengling's maintained a strong tradition of making exceptional gourmet ice cream products in central Pennsylvania. The fan-favorite brand advanced its legacy and its renowned dairy quality by using locally sourced dairy ingredients that contain no added hormones. The company discontinued production in 1985 when no family successor emerged. In 2014, David Yuengling, Franks great-grandson, and Robert Bohorad revived the brand and an American classic was re-born. The Yuengling's Ice Cream Corporation, as it has been since 1935, is a separately owned and operated company from D. G. Yuengling & Son, Inc Brewery.

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Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions.

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For More InformationContact & Media Inquiries:IR@yuenglingsicecream.comPhone: 570-968-4352www.yuenglingsicecream.com