Category: Press Releases

SeaportSteak.com features an array of Australian Wagyu beef cuts, including a boneless ribeye (pictured), Japanese Wagyu beef cuts and U.S. Domestic Choice beef cuts, all of which are 100% grass-fed, grain-finished beef.

True to its name, SeaportSteak.com also features the highest quality Atlantic Cod, Colossal Shrimp, Salmon and Scallops, all delivered fresh to the door.

The balance of SeaportSteak.com‘s product offerings include hormone-free and antibiotic-free chicken, including family-pack options, and pork.

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC: PACV) is focused on expansion within the consumer products, food, beverage and alcohol-related industries. For more information on PACV, please visit www.pacvgroup.com. (You need to be at least 21 years of age (legal age to consume alcohol) to visit the section of the website dedicated to SnöBar.)

Safe Harbor Statement

Forward-Looking Statement: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include but are not limited to, the inability of the company to obtain financing sufficient to maintain its operations and execute its acquisition strategy; the inherent uncertainties associated with smaller reporting companies; and other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.

Investors Contact:

ir@pacvgroup.com

SOURCE: Pacific Ventures Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/812788/pacific-ventures-seaport-meat-company-launches-direct-to-customer-online-sales-platform

LOS ANGELES, CA / March 28, 2023 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (“Pacific Ventures” or the “Company”), a consumer-centric holding company specializing in the distribution of food, beverage and alcohol-related products, today announced that it is expanding the number of high quality products it offers.

Seaport Meat Company, a wholly-owned subsidiary of Pacific Ventures, will be introducing a new line of high quality protein and beef products imported from Mexico. As one of America’s leading meat processing foodservice distribution companies, Pacific Ventures will continue to diversify the supply chain and target customers looking for a variety of price points. Mexican beef is rated highly for desirability and quality. Results from surveys and testing indicate Mexican beef is in an advantageous position when competing with other beef products in the current open market.

“As mentioned in our shareholder letter earlier this month, Pacific Ventures is entering its next phase of growth and we will create new opportunities and operational efficiencies. We believe that the company will be able to cross-market to our existing customers and attract a number of new customers with these new products. By offering quality beef products from across the price spectrum, we are confident we can drive increased revenue and simultaneously increase our margins,” stated President and CEO Shannon Masjedi of Pacific Group Ventures.

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC:PACV) is a consumer-centric distribution company focused on food, beverage, and alcohol-related products. Through its portfolio of operating subsidiaries, Pacific Ventures delivers specialty groceries, top quality proteins and produce, and innovative products to consumers through wholesale, retail, and direct-to-consumer channels. For more information on Pacific Ventures Group, please visit www.pacvgroup.com.

Forward Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) market acceptance of our existing and new products, (ii) delays in bringing products to key markets, (iii) an inability to secure regulatory approvals for the ability to sell our products in certain markets, (iv) intense competition in the industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (ix) our reliance on single suppliers for certain product components, (x) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xi) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction. More detailed information about the Company and the risk factors that may affect the realization of forward looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Investor Relations Contact:
Chesapeake Group
410-825-3930
info@chesapeakegp.com

SOURCE: Pacific Ventures Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/746012/Pacific-Ventures-Expands-Product-Line-and-Readies-for-Revenue-Ramp

LOS ANGELES, CA / March 7, 2023 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (“Pacific Ventures” or the “Company”), a consumer-centric holding company specializing in the distribution of food, beverage and alcohol-related products, today issued a letter to shareholders from its President and CEO, Shannon Masjedi.

Dear Fellow Shareholders,

2022 was a year of continued progress for Pacific Ventures, during which we focused on positioning our company for long-term growth. Consumer demand for quality food products remains strong, which has allowed us to capitalize on our expansion strategy while furthering our relationships with existing customers.

The food and beverage industry has undergone a significant amount of change over the last several years, and while the industry has generally recovered to pre-pandemic levels, lingering economic impacts have presented some challenges. Food production costs have risen dramatically over the last two years, due to the short supply of key commodities like wheat and geopolitical conflict. In addition, labor shortages have created pressure on businesses and supply chains.

Despite this, we have driven momentum across our portfolio of businesses by maintaining mutually beneficial relationships with our partners and customers. This is reflected by our ability to generate over $39 million in revenues in 2022. We anticipate this stability will continue through 2023 as we execute our growth strategy.

Importantly, we have taken several important steps to prepare our company for this next phase of growth. Improving our balance sheet has been a primary focus, and we continue to make progress with reducing our debt. Operationally, we continue to uncover new opportunities for margin expansion by creating operational efficiencies, reducing overtime hours.

Today, we provide more than 2,000 fresh, frozen, and dry food SKUs, as well as non-food items, to approximately 400 customer locations in the Southwest U.S. We serve a highly diversified and expanding customer base that includes independently owned restaurants and regional restaurant chains, hospitals, nursing homes, hotels, government and military organizations, and educational institutions.

As one of America’s leading meat processing foodservice distribution companies, our mission is to inspire and empower chefs and foodservice operators to bring great food experiences to consumers. This mission is supported by our strategy of supplying the Best Foods at Best Prices, while also providing our customers with the operational support that they require for managing their businesses profitably. The “Best Foods” portion of this strategy is showcased by over 500 featured products that are sustainably sourced or contribute to waste reduction. The “Best Prices” portion is aimed at providing operators flexibility in our service model, but also reliability – meaning on-time and complete orders. We believe our focus on differentiation in product assortment, customer experience and innovation are ultimately the core driver of scale.

Looking ahead, we are focused on several key initiatives that we believe will be significant growth catalysts for our business. Among these are the launch of our direct-to-consumer platform, WWW.SEAPORTSTEAK.COM, which we expect to occur in early in the second quarter 2023. We also will improve communication with our investors and we have a strategy to update stakeholders of our progress in a more timely fashion.

The Company is also still in negotiations and due diligence on the acquisition previously announced. Ms. Shannon Masjedi, Pacific Venture Group’s Chief Executive Officer, commented, “We are working towards a definitive agreement and looking forward to closing in the near future. In addition to their existing business, we believe there are great synergies to expand Seaport Meat Company’s and San Diego Farmers Outlet’s reach toward the middle of the country given their customers and distribution capabilities. This would be a transformational acquisition and, if consummated, will catapult us to near $80 million annual revenue and enable us to be positioned to start the process of an up list to a major national U.S. exchange.”

To our customers, employees, and shareholders, thank you for your unwavering dedication to our mission. We look forward to sharing our accomplishments in the coming year as we strive to build sustainable value.

Sincerely,

Shannon Masjedi

President & CEO

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC:PACV) is a consumer-centric distribution company focused on food, beverage, and alcohol-related products. Through its portfolio of operating subsidiaries, Pacific Ventures delivers specialty groceries, top quality proteins and produce, and innovative products to consumers through wholesale, retail, and direct-to-consumer channels. For more information on Pacific Ventures Group, please visit www.pacvgroup.com.

Forward Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) market acceptance of our existing and new products, (ii) delays in bringing products to key markets, (iii) an inability to secure regulatory approvals for the ability to sell our products in certain markets, (iv) intense competition in the industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (ix) our reliance on single suppliers for certain product components, (x) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xi) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction. More detailed information about the Company and the risk factors that may affect the realization of forward looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Investor Relations Contact:
Chesapeake Group
410-825-3930
info@chesapeakegp.com

SOURCE: Pacific Ventures Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/742249/Pacific-Ventures-Issues-Shareholder-Letter-and-Provides-Corporate-Update

Second Quarter 2022 Gross Profit Increased 13% to $1.5 Million Driven by Operational Improvements

LOS ANGELES, CA / August 25, 2022 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (“Pacific Ventures” or the “Company”), a consumer-centric holding company specializing in the distribution of food, beverage and alcohol-related products, provided financial results for the second quarter ended June 30, 2022.

Financial Highlights

• Revenues in the six months ended June 30, 2022 increased 11% to $21.0 million, compared to $18.8 million in the same year-ago period
• Gross profit in the second quarter of 2022 increased 13% to $1.5 million, compared to $1.4 million in the same year-ago quarter
• Gross profit margin was 14.6% in the second quarter of 2022, an improvement from 11.7% in the same year-ago quarter

Management Commentary

“Our momentum has continued to build through the first half of 2022 as we continue to capitalize on strong consumer demand for quality food products,” said Shannon Masjedi, President and CEO of Pacific Ventures Group. “During the second quarter, we focused on strengthening our balance sheet to prepare our business for our next phase of growth. We were able to execute on this strategy while continuing to drive margin improvement across our operations. We are optimistic that the steps we have taken to position our company for long-term success will increasingly be reflected in our operational results as we strive to build sustainable value for our shareholders.”

Financial Results for the Second Quarter Ended June 30, 2022

Revenues in the second quarter of 2022 decreased 9% to $10.5 million, compared to $11.6 million in the same year-ago quarter.

Gross profit in the second quarter of 2022 increased 13% to $1.5 million, compared to $1.4 million in the same year-ago quarter. The resulting gross margin was 14.6% for the second quarter of 2022, an increase from 11.7% for the same year-ago quarter.

Operating expenses in the second quarter of 2022 were $2.4 million, compared to $2.1 million in the same year-ago quarter. The increase in operating expense was due to an increase in operating activities.

Net loss in the second quarter of 2022 was $2.3 million, or $(0.01) per share, compared to a net loss of $1.2 million, or $(0.30) per share in the same year-ago quarter. The increase in net loss was attributed to an increase in financing expenses.

Cash and cash equivalents totaled $0.5 million at June 30, 2022.

Financial Results for the Six Months Ended June 30, 2022

Revenues in the six months ended June 30, 2022 increased 11% to $20.9 million, compared to $18.8 million in the same year-ago period. The significant increase in revenue was primarily the result of marked increase in demand for our products.

Gross profit in the six months ended June 30, 2022 increased 44% to $3.2 million, compared to $2.2 million in the same year-ago period. The resulting gross margin was 15.4% for the six month period, an increase from 11.9% for the same year-ago period.

Operating expenses in the six months ended June 30, 2022 were $4.2 million, compared to $3.7 million in the same year-ago period. The increase in operating expense was due to an increase in operating activities.

Net loss in the six months ended June 30, 2022 was $3.4 million, or $(0.02) per share, compared to a net loss of $2.3 million, or $(0.07) per share in the same year-ago period.

The full text of the Company’s Annual Report on Form 10-Q for the quarter ended June 30, 2022 was filed with the SEC on August 22, 2022 and can be found here.

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC:PACV) is a consumer-centric distribution company focused on food, beverage, and alcohol-related products. Through its portfolio of operating subsidiaries, Pacific Ventures delivers specialty groceries, top quality proteins and produce, and innovative products to consumers through wholesale, retail, and direct-to-consumer channels. For more information on Pacific Ventures Group, please visit www.pacvgroup.com.

Forward Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) market acceptance of our existing and new products, (ii) delays in bringing products to key markets, (iii) an inability to secure regulatory approvals for the ability to sell our products in certain markets, (iv) intense competition in the industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (ix) our reliance on single suppliers for certain product components, (x) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xi) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction. More detailed information about the Company and the risk factors that may affect the realization of forward looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Investor Relations Contact:
MZ Group – MZ North America
(949) 546-6326
PACV@mzgroup.us
www.mzgroup.us

SOURCE: Pacific Ventures Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/713455/Pacific-Ventures-Reports-Second-Quarter-2022-Results-2022-YTD-Revenues-Increased-11-YoY-to-201-Million

LOS ANGELES, CA / August 2, 2022 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (“Pacific Ventures” or the “Company”), a consumer-centric distribution company specializing in food, beverage and alcohol-related products, has rescheduled its virtual roadshow webinar to Wednesday, August 10, 2022 at 11:30 a.m. Eastern Time.

Shannon Masjedi, President and CEO of Pacific Ventures Group, will present an overview of the Company’s recent operational progress, growth initiatives, and strategic vision. The webinar will be accompanied by a presentation and followed by a question-and-answer session, which can be accessed via the webcast link or dial-in numbers below.

To access the webinar, please use the following information:

A telephone replay will be available approximately two hours after the call and will run through Wednesday, September 7, 2022, by dialing 1-844-512-2921 from the U.S., or 1-412-317-6671 from international locations, and entering replay pin number: 13731805. The replay can also be viewed through the webinar webcast link above.

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC:PACV) is a consumer-centric distribution company focused on food, beverage, and alcohol-related products. Through its portfolio of operating subsidiaries, Pacific Ventures delivers specialty groceries, top quality proteins and produce, and innovative products to consumers through wholesale, retail, and direct-to-consumer channels. For more information on Pacific Ventures Group, please visit www.pacvgroup.com.

Forward Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) market acceptance of our existing and new products, (ii) delays in bringing products to key markets, (iii) an inability to secure regulatory approvals for the ability to sell our products in certain markets, (iv) intense competition in the industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (ix) our reliance on single suppliers for certain product components, (x) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xi) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction. More detailed information about the Company and the risk factors that may affect the realization of forward looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Investor Relations Contact:
Brooks Hamilton
MZ Group – MZ North America
(949) 546-6326
PACV@mzgroup.us
www.mzgroup.us

SOURCE: Pacific Ventures Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/710569/Pacific-Ventures-Reschedules-Virtual-Roadshow-Webinar-to-Wednesday-August-10-2022-at-1130-am-Eastern-Time

LOS ANGELES, CA / July 25, 2022 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (“Pacific Ventures” or the “Company”), a consumer-centric distribution company specializing in food, beverage and alcohol-related products, has rescheduled its virtual roadshow webinar to Tuesday, August 2, 2022 at 11:30 a.m. Eastern Time.

Shannon Masjedi, President and CEO of Pacific Ventures Group, will present an overview of the Company’s recent operational progress, growth initiatives, and strategic vision. The webinar will be accompanied by a presentation and followed by a question-and-answer session, which can be accessed via the webcast link or dial-in numbers below.

To access the webinar, please use the following information:

A telephone replay will be available approximately two hours after the call and will run through Tuesday, August 30, 2022, by dialing 1-844-512-2921 from the U.S., or 1-412-317-6671 from international locations, and entering replay pin number: 13731805. The replay can also be viewed through the webinar webcast link above.

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC:PACV) is a consumer-centric distribution company focused on food, beverage, and alcohol-related products. Through its portfolio of operating subsidiaries, Pacific Ventures delivers specialty groceries, top quality proteins and produce, and innovative products to consumers through wholesale, retail, and direct-to-consumer channels. For more information on Pacific Ventures Group, please visit www.pacvgroup.com.

Forward Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) market acceptance of our existing and new products, (ii) delays in bringing products to key markets, (iii) an inability to secure regulatory approvals for the ability to sell our products in certain markets, (iv) intense competition in the industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (ix) our reliance on single suppliers for certain product components, (x) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xi) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction. More detailed information about the Company and the risk factors that may affect the realization of forward looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Investor Relations Contact:
Brooks Hamilton
MZ Group – MZ North America
(949) 546-6326
PACV@mzgroup.us
www.mzgroup.us

SOURCE: Pacific Ventures Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/709745/Pacific-Ventures-Reschedules-Virtual-Roadshow-Webinar-to-Tuesday-August-2-2022-at-1130-am-Eastern-Time

LOS ANGELES, CA / July 21, 2022 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (“Pacific Ventures” or the “Company”), a consumer-centric distribution company specializing in food, beverage and alcohol-related products, today announced that management will host a virtual roadshow on Tuesday, July 26, 2022 at 11:30 a.m. Eastern Time.

Shannon Masjedi, President and CEO of Pacific Ventures Group, will present an overview of the Company’s recent operational progress, growth initiatives, and strategic vision. The webinar will be accompanied by a presentation and followed by a question-and-answer session, which can be accessed via the webcast link or dial-in numbers below.

To access the webinar, please use the following information:

A telephone replay will be available approximately two hours after the call and will run through Tuesday, August 23, 2021, by dialing 1-844-512-2921 from the U.S., or 1-412-317-6671 from international locations, and entering replay pin number: 13731805. The replay can also be viewed through the webinar webcast link above.

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC:PACV) is a consumer-centric distribution company focused on food, beverage, and alcohol-related products. Through its portfolio of operating subsidiaries, Pacific Ventures delivers specialty groceries, top quality proteins and produce, and innovative products to consumers through wholesale, retail, and direct-to-consumer channels. For more information on Pacific Ventures Group, please visit www.pacvgroup.com.

Forward Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) market acceptance of our existing and new products, (ii) delays in bringing products to key markets, (iii) an inability to secure regulatory approvals for the ability to sell our products in certain markets, (iv) intense competition in the industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (ix) our reliance on single suppliers for certain product components, (x) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xi) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction. More detailed information about the Company and the risk factors that may affect the realization of forward looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Investor Relations Contact:
Brooks Hamilton
MZ Group – MZ North America
(949) 546-6326
PACV@mzgroup.us
www.mzgroup.us

SOURCE: Pacific Ventures Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/709268/Pacific-Ventures-to-Host-Virtual-Roadshow-Webinar-on-Tuesday-July-26-2022-at-1130-am-Eastern-Time

Company Expects Transition to Zero-Emissions Transportation to Drive Cost Savings for its Operating Subsidiaries

LOS ANGELES, CA / June 15, 2022 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (“Pacific Ventures” or the “Company”), a consumer-centric holding company specializing in the distribution of food, beverage and alcohol-related products, announced the addition of an all-electric vehicle to its truck fleet for its Seaport Meat Company and San Diego Farmers Outlet operations.

“Our decision to transition toward an electric vehicle fleet reflects our commitment to reducing our emissions as we continue to scale,” said Shannon Masjedi, President and CEO of Pacific Ventures Group. “Additionally, given the current state of the energy environment with elevated gas prices, we expect the addition of electric vehicles to create significant cost savings and enhance our profitability. The transition is part of our broader initiative to create efficiencies in our supply chain and distribution functions, and as we increase volumes to both existing and new customers, we will look to add more electric vehicles to our fleet that serves our Seaport and SDFO operations.”

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC PINK:PACV) is a consumer-centric distribution company focused on food, beverage, and alcohol-related products. Through its portfolio of operating subsidiaries, Pacific Ventures delivers specialty groceries, top quality proteins and produce, and innovative products to consumers through wholesale, retail, and direct-to-consumer channels. For more information on Pacific Ventures Group, please visit www.pacvgroup.com.

Forward Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) market acceptance of our existing and new products, (ii) delays in bringing products to key markets, (iii) an inability to secure regulatory approvals for the ability to sell our products in certain markets, (iv) intense competition in the industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (ix) our reliance on single suppliers for certain product components, (x) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xi) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction. More detailed information about the Company and the risk factors that may affect the realization of forward looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Investor Relations Contact:
Brooks Hamilton
MZ Group – MZ North America
(949) 546-6326
PACV@mzgroup.us
www.mzgroup.us

SOURCE: Pacific Ventures Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/705104/Pacific-Ventures-Adds-All-Electric-Vehicles-to-its-Truck-Fleet

First Quarter 2022 Gross Margin Increased 91% to Record $1.7 Million Driven by Operational Improvements

LOS ANGELES, CA / May 23, 2022 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (“Pacific Ventures” or the “Company”), a consumer-centric holding company specializing in the distribution of food, beverage and alcohol-related products, provided financial results for the first quarter ended March 31, 2022.

First Quarter 2022 Financial Highlights

• Revenues in the first quarter of 2022 increased 43% to a record $10.4 million, compared to $7.3 million in the same year-ago quarter.
• Gross profit in the first quarter of 2022 increased 91% to a record $1.7 million, compared to $0.9 million in the same year-ago quarter.
• Gross profit margin was 16.2% in the first quarter of 2022, representing an improvement of 40 bps from the same year-ago quarter.

Management Commentary

“We continue to see strong demand from our growing customer base, which allowed us to deliver another quarter of record revenues,” said Shannon Masjedi, President and CEO of Pacific Ventures Group. “As we grow our sales channels to unlock new growth avenues, our strategy to generate operational efficiencies is also taking hold, as reflected by our notable year-over-year and sequential improvements in gross margin during the quarter. We are pleased to see our technology-based approach to enhancing our supply chain and distribution functions take effect, which will allow us to have greater flexibility in the quarters ahead. I look forward to the remainder of 2022, which is shaping up to be a breakout year for Pacific Ventures as we work diligently to generate long-term value for our stakeholders.”

First Quarter 2022 Financial Results

Revenues in the first quarter of 2022 increased 43% to $10.4 million, compared to $7.3 million in the same year-ago quarter. The significant increase in revenue was primarily the result of marked increase in demand for our products.

Gross profit in the first quarter of 2022 increased 91% to $1.7 million, compared to $0.9 million in the same year-ago quarter. The resulting gross margin was 16.2% for the first quarter of 2022, an increase of 40 bps as compared to 12.2% for the same year-ago quarter.

Operating expenses in the first quarter of 2022 were $1.8 million, compared to $1.6 million in the same year-ago quarter. The increase in operating expense was due to an increase in operating activities.

Net loss in the first quarter of 2022 improved to $1.1 million, or $(0.03) per share, compared to net loss of $1.2 million, or $(0.07) per share in the same year-ago quarter.

The full text of the Company’s Annual Report on Form 10-Q for the quarter ended March 31, 2022 was filed with the SEC on May 19, 2022 and can be found here.

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC:PACV) is a consumer-centric distribution company focused on food, beverage, and alcohol-related products. Through its portfolio of operating subsidiaries, Pacific Ventures delivers specialty groceries, top quality proteins and produce, and innovative products to consumers through wholesale, retail, and direct-to-consumer channels. For more information on Pacific Ventures Group, please visit www.pacvgroup.com.

Forward Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) market acceptance of our existing and new products, (ii) delays in bringing products to key markets, (iii) an inability to secure regulatory approvals for the ability to sell our products in certain markets, (iv) intense competition in the industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (ix) our reliance on single suppliers for certain product components, (x) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xi) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction. More detailed information about the Company and the risk factors that may affect the realization of forward looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Investor Relations Contact:
Brooks Hamilton
MZ Group – MZ North America
(949) 546-6326
PACV@mzgroup.us
www.mzgroup.us

SOURCE: Pacific Ventures Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/702334/Pacific-Ventures-Reports-Record-First-Quarter-2022-Results-Revenues-Increased-43-YoY-to-104-Million

LOS ANGELES, CA / May 17, 2022 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (“Pacific Ventures” or the “Company”), a consumer-centric holding company specializing in the distribution of food, beverage and alcohol-related products, today preannounced preliminary unaudited record revenue of $10.4 million for the three months ended March 31, 2022.

“The first quarter of 2022 was highlighted by strong organic growth across our business, with our Seaport Meat Company subsidiary contributing significantly to our performance,” said Shannon Masjedi, President and CEO of Pacific Ventures Group. “Notably, the quarter’s record sales were up 43% over the prior years’ quarter, primarily due to strong demand from our growing customer base. We are executing well on our strategy to continue this growth trajectory as we expand our sales channels and increase cross-selling opportunities across our businesses. I look forward to sharing our full first quarter results as we look ahead to the second half of the year.”

The Company expects to provide its full financial report for the three months ended March 31, 2022 by May 20, 2022.

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC:PACV) is a consumer-centric distribution company focused on food, beverage, and alcohol-related products. Through its portfolio of operating subsidiaries, Pacific Ventures delivers specialty groceries, top quality proteins and produce, and innovative products to consumers through wholesale, retail, and direct-to-consumer channels. For more information on Pacific Ventures Group, please visit www.pacvgroup.com.

Forward Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) market acceptance of our existing and new products, (ii) delays in bringing products to key markets, (iii) an inability to secure regulatory approvals for the ability to sell our products in certain markets, (iv) intense competition in the industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (ix) our reliance on single suppliers for certain product components, (x) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xi) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction. More detailed information about the Company and the risk factors that may affect the realization of forward looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Investor Relations Contact:
Brooks Hamilton
MZ Group – MZ North America
(949) 546-6326
PACV@mzgroup.us
www.mzgroup.us

SOURCE: Pacific Ventures Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/701589/Pacific-Ventures-Announces-Preliminary-Q1-2022-Revenues-of-104-Million-and-43-YoY-Growth