DISTIL PLC

ARDGOWAN DISTILLERY OPENS AS FIRST CASKS FILLED

Distil plc (AIM: DIS), owner of premium drinks brands including RedLeg Spiced Rum, Blackwoods Gin and Vodka, and Blavod Black Vodka, is pleased to announce that Ardgowan Distillery opened to the public on Friday 20 June, as it celebrates its first casks having been filled.

Independent Scotch whisky distillery Ardgowan was formally opened on Friday 20 June by Scotland's Deputy First Minister, Kate Forbes, as its first casks are filled since building concluded earlier this month.

Founded in 2017, the west coast firm is led by whisky entrepreneur and Distil investor, Roland Grain, and Distillery Manager, Laura Davies, who together spearhead an expert team with a combined experience spanning over seven decades in the whisky industry.

Featuring an impressive Scandinavian longhouse design and visually striking 97% recycled aluminium roof, the distillery has its sights set on producing top quality whisky and striving for carbon neutrality.

Following eight years of development, planning and construction, the distillery is the first to operate in the Inverclyde region for over a century.

The site was also opened to the public on Friday evening, with around 2,000 visitors welcomed to celebrate the milestone, with tours of the distillery, exclusive bottlings, live music and street food. Visitors were also welcomed into the Blackwoods Brand Home, tasting the core range alongside a menu of cocktails.

As shareholders will be aware Distil invested £3m into the Ardgowan Distillery project in 2021 in the form of a convertible loan (convertible into Ardgowan equity at a fixed pre- conversion valuation of £30m representing 10.5% of Ardgowan's fully diluted share capital) to support the development of the new Malt Whisky distillery. 

Commenting on this major landmark, Roland Grain, CEO of Ardgowan said:

"After a lengthy build, the team and I are thrilled to now be in full production and filling casks with our own distillate, including private casks for our Clan Ardgowan members. Ardgowan's ultimate goal is to revive the golden age of Scotch whisky with long Sherry cask maturation in European oak. Producing whisky is all about time and patience, so, as we fill our first casks and the Deputy First Minister opens the site to the public, we look forward to steadily perfecting our Single Malt in the years to come.

It was fantastic to be able to welcome so many visitors to the site to celebrate this milestone with us. We thank everyone for their support in helping us reach this point, and we look forward to continuing to strengthen our relationship with the local community."

Don Goulding, Executive Chairman, Distil, added:

"We extend our congratulations to everyone who has been involved with ensuring this impressive project reached this significant milestone, and we were delighted to be able to be there to celebrate with the team.

It was excellent to give visitors a preview of Blackwoods new home and taste and purchase the range. The feedback we received from visitors on both the existing range and new product was outstanding and we look forward to welcoming them back to the brand home once this opens to the public.

Distil's partnership with Ardgowan remains of the upmost importance to the business and we look forward to continuing mutual support and growth for many years to come."

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