UPDATE – Vine-fresh wine expands retail in the Midwest

MINNEAPOLIS, July 01. 11, 2022 (GLOBE NEWSWIRE) — Fresh Vine Wine, Inc. (NYSE American: VINE), the leading producer of low-carb, low-sugar, and low-calorie premium wines in the United States, bottled in Napa, in California, today announced that four of its wine varietals are now available from Schnuck Markets, Inc. in Missouri and Illinois. Plans are underway to bring vine-fresh wine to the balance of Schnuck Markets located in Indiana and Wisconsin. With the addition of Schnuck Markets, Fresh Vine Wine has added 2,353 new points of distribution (PODs) in the last 90 days for its premium wines.

“We are extremely pleased that Schnuck Markets has chosen to introduce the premium varietals of Fresh Vine Wines to its loyal and discerning clientele. With the addition of Schnuck Markets, Fresh Vine Wine is establishing a strong retail presence in the Midwest where the market for Better For You products is growing rapidly,” said Rick Nechio, Interim General Manager. “We are proud to partner with Schnuck Markets and help them expand their product offerings in response to the growing population of health-conscious consumers who want premium wines without compromising on taste.”

With over 100 stores, Schnuck Markets is a Midwest staple. Pinot noir, cabernet sauvignon, chardonnay and rosé from Fresh Vine Wine will be available.

Press contact: [email protected]

Investor Relations Contact: [email protected]

About Fresh Vine Wine, Inc.
Fresh Vine Wine, Inc. (NYSE American: VINE) is a leading producer of low-carb, low-calorie premium wines in the United States, launching a 2022 growth plan following its IPO in mid-December 2021. to lead the emerging natural and accessible premium wine category as health trends continue to accelerate in the U.S. market. The US wine market in 2020 was a $69 billion category. Fresh Vine Wine plans to accelerate its growth in 2022 by amplifying its marketing, expanding its product offerings and expanding its team. Fresh Vine Wine positions its line of core brands as affordable luxury, selling for between $14.99 and $22.99. Fresh Vine Wine varietals currently include its Cabernet Sauvignon, Chardonnay, Pinot Noir and Rosé.

About Schnuck Markets, Inc.
Founded in St. Louis in 1939, Schnuck Markets, Inc. is a third and fourth generation family owned grocery store committed to nourishing people’s lives. Schnuck Markets operates 112 stores, serving customers in Missouri, Illinois, Indiana and Wisconsin and employs 12,000 teammates. According to Forbes 2021 ranking, Schnuck Markets is the 160th largest private company in the United States and the 15th largest private grocer. Schnuck Markets, Inc. is committed to helping communities thrive, and as a champion of hunger reduction, the company donates more than $13 million in food each year to food pantries that help people in need.

Forward-looking statements
This press release contains forward-looking statements. These forward-looking statements can generally be identified by the use of words such as “anticipates”, “expects”, “plans”, “could”, “may”, “will”, “believes”, “estimates”, “expects,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address a variety of matters, including statements regarding the timing or nature of future operating or financial performance or other events. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by this statement. Applicable risks and uncertainties include, among others, the the Company’s ability to hire additional personnel and manage the growth of its business; the Company’s dependence on its brand, reputation and quality of its products; the Company’s ability to respond adequately to increased demands that may be placed on its management, operating and production capabilities; the effectiveness of the Company’s advertising and promotional activities and investments; the Company’s reliance on celebrities to endorse its wines and market its brand; general conditions of competition; fluctuations in consumer demand for wine; general decline in the health of the economy and consumer discretionary spending; the occurrence of adverse weather events, natural disasters, public health emergencies or other unforeseen circumstances that may delay or interrupt the Company’s operations; risks associated with disruptions to the Company’s supply chain for grapes and raw and processed materials; the impact of COVID-19 and its variants on the Company’s customers, suppliers, business operations and financial results; service disrupted or delayed by the distributors on which the Company relies for the distribution of its wines; the Company’s ability to successfully execute its growth strategy; the Company’s success in retaining or recruiting, or required changes in its officers, key employees or directors; the Company’s ability to protect its trademarks and other intellectual property rights; the Company’s ability to comply with laws and regulations affecting its business, including those relating to the manufacture, sale and distribution of wine; claims, demands and lawsuits to which the Company may be subject and the risk that its insurance or indemnification coverage may not be sufficient; the Company’s ability to operate, update or implement its computer systems; the Company’s ability to successfully pursue strategic acquisitions and integrate acquired businesses; the Company’s potential ability to obtain additional financing if needed; the significant influence of the founders of the Company on the Company; and the risks identified in the Company’s other filings with the SEC. The Company cautions investors not to place significant reliance on any forward-looking statements contained in this press release. We encourage you to read the Company’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements contained in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. The business of the Company is subject to substantial risks and uncertainties, including those mentioned above. Investors, potential investors and others should pay particular attention to these risks and uncertainties.

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