Panache Beverage, Inc. Announces Executive Changes and "Business as Usual" During Development of Revised Corporate Strategy

NEW YORK, April 28, 2014

The executive changes resulted from a review of the Company's current business strategy with Panache's senior secured lender, Consilium Investment Management, Ltd., which has terminated its financial advisory agreement with the Company. Consilium and Panache are currently negotiating the terms and conditions of a modification of the Company's debt and a revised business strategy that would ensure the long-term viability of Panache. In addition, Panache is interviewing potential candidates to replace senior management.

"Panache is operating its business as usual," commented Michael Romer. "Our distribution and logistics partners remain unchanged and our marketing agency of record remains in place. Sales support of the brands continues."

Panache Distillery, LLC, based out of central Florida, continues its operations and is led by its President, Jacob Call. Panache and Consilium may consider additional investment capital to increase the distillery's bulk sales, distilling and co-packing production capabilities.

About Panache Beverage

Panache Beverage, Inc., based in New York, NY, is an alcoholic beverage company specializing in the development, global sales and marketing of spirits brands. The company's expertise lies in the strategic development and aggressive early growth of its brands establishing its assets as viable and attractive acquisition candidates for the major global spirits companies. Panache intends to build its brands as individual acquisition candidates while developing, creating and expanding its portfolio via the Panache Distillery. Panache's existing portfolio consists of the brands: Wodka Vodka, Alchemia Infused Vodka, Alibi American Whiskey, Spirytus Vodka, Old South Shine Vodka in addition to the forthcoming OGB line of spirits.

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