BrewBilt Brewing Co. (OTCMKTS: BRBL) was up 33% after announcing the commencement of construction of a new commercial brewery facility in Grass Valley, California. The company’s CEO Jef Lewis, indicated that Bozart Construction had been awarded the construction work expected to commence immediately.
Trading Data
On Wednesday, BRBL stock soared 33.33% to $0.0038 with more than 232.46 million shares traded, compared to its average volume of 13.45 million shares. The stock moved within a range of $0.0036 – 0.0060 after opening trading at $0.0042.
BrewBilt Brewing Co. Begins Construction of Craft Brewery Facility
The facility will be around 7,000 sq. ft. and will allow the company to introduce craft beer beyond California. He further indicated that the plans for the Phase I brewery includes a 20 bbl brewhouse that can produce around 4,000 bbls per year with a sales potential of almost $3.5 million.
The company, which is based in the Sierra Foothills in North California, is in the final stages of completing the brewing facility and getting permits that will enable it to produce craft ales and lagers with a specific emphasis on European-style lagers. BrewBilt Brewing plans to offer a craft beers lineup and contracting and private label services. The company grew from BreBilt Manufacturing Inc., which is an iconic firm popular for handcrafting custom breweries. So, BRBL is worth watching.
Key Quote
Mr. Lewis further stated, “The plans for our Phase I brewery include a 20-bbl brewhouse capable of producing at least 4,000 bbls annually with a revenue potential of $3.5 million.”
Technical Data
BRBL stock is trading below the 50-Day and 200-Day Moving averages of $0.0040 and $0.0415 respectively. However, the stock is trading above the 20-Day moving average of $0.0034.
