St. Martin Powerboats, LLC entered into a definitive agreement to acquire South Beach Spirits, Inc. (OTCPK:SBES.E) in a reverse merger transaction on June 8, 2016. Post acquisition, St. Martin will hold 51% stake in SBES. Paul Spivak will assume management roles at SBES. The closing of the transaction is subject to satisfaction of customary closing conditions. St. Martin Powerboats, LLC cancelled the acquisition of South Beach Spirits, Inc. (OTCPK:SBES.E) in a reverse merger transaction on June 8, 2017.