St. Martin Powerboats, LLC entered into a definitive agreement to acquire South Beach Spirits, Inc. (OTCPK:SBES.E) in a reverse merger transaction.

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.