Splash Beverage Group, Inc. (OTCPK:SBEV) signed a letter of intent to acquire Copa Di Vino from James Martin on August 11, 2020. Splash Beverage Group, Inc. (OTCPK:SBEV) entered into purchase agreement to acquire Copa Di Vino, LLC on December 24, 2020. The consideration includes $2 million in cash, a $2 million in Promissory Note and a variable number of shares of SBG common stock (up to a maximum value of $1,980,000 based on Copa’s attainment of certain future revenue targets. Concurrently with the transaction, SBG issued a $1,500,000 loan to a third party to fund the cash portion of the Purchase Agreement. Pursuant to this acquisition, James Martin, shall serve as Copa di Vino Founder and Chief Innovation Officer of the Splash, reporting directly to the president and chief marketing officer of the Splash. The acquisition of Copa Di Vino is subject to the execution of a definitive agreement and appropriate financing. The deal was subject to regulatory approval and closing of transaction is expected to complete on December 24, 2020. Milt Christensen of Harris Berne Christensen LLP acted as legal advisor to Copa di Vino Corporation and Darrin M. Ocasio of Sichenzia Ross Ference LLP acted as legal advisor to Splash Beverage. Splash Beverage Group, Inc. (OTCPK:SBEV) completed the acquisition of Copa Di Vino from James Martin for $5.9 million on December 24, 2020.