By Josh White
Date: Tuesday 30 Apr 2024
LONDON (ShareCast) - (Sharecast News) - Premium drinks group Distil announced a significant milestone on Tuesday, with the successful inaugural distillation of 'Blackwood' at Ardgowan Distillery.
The AIM-traded firm made a strategic £3m investment in the form of a convertible loan in Ardgowan Distillery Company in August 2021, marking the start of a partnership aimed at establishing a state-of-the-art, carbon-negative malt whisky distillery near Inverkip, Scotland.
It said the investment secured the company's long-term interest in a thriving premium category, and also provided a dedicated home for Blackwoods, complete with its distillery, gin school, and immersive visitor experience.
After completing essential commissioning and testing, the gin still at Blackwoods' new brand home within the Ardgowan Distillery site was now fully operational, culminating in the first distillation of Blackwoods.
The inaugural batch was reserved for release as a limited edition exclusively available to shareholders in the summer, with further details to be disclosed shortly.
Distil said the distillation process took place on a 1,000-litre, Scottish-crafted copper still, following Blackwoods' signature recipe and incorporating locally-sourced Scottish botanicals such as kelp, sea buckthorn, and water mint.
Ardgowan's distiller, Ross Bradley, led the distillation process with the guidance of Distil's master distiller Sion Edwards.
As a nod to local history, the gin still was christened 'Marie', a name chosen by attendees of the first annual Ardgowan Open Day in July last year.
Marie Lamont, one of the youngest women subjected to the 17th-century Inverkip witch trials, inspired the chosen name.
"This is a significant milestone not only for Blackwoods as a brand, but for Distil's relationship with Ardgowan Distillery Company," said marketing director Sarah Kingsbury.
"We were delighted to be on-site for the first distillation which successfully took place under the guidance of Sion Edwards, and to taste and craft the first liquid together with him and Ross Bradley.
"We look forward to making this available to shareholders, and pushing forward with our planned programme of new product development."
In tandem with that, Kingsbury said the company was "delighted" to reveal 'Marie' as the name of the still.
"The Ardgowan Estate and surrounding area is rich with Scottish history, and to be able to honour a key local character is fantastic.
"Works continue on-site to fit out the Blackwoods visitor experience, and we look forward to sharing further updates in the near future."
At 1040 BST, shares in Distil were up 9.09% at 0.6p.
Reporting by Josh White for Sharecast.com.
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Currency | UK Pounds |
Share Price | 0.14p |
Change Today | 0.005p |
% Change | 3.70 % |
52 Week High | 0.73p |
52 Week Low | 0.13p |
Volume | 7,081,825 |
Shares Issued | 1,453.03m |
Market Cap | £2.03m |
Beta | 0.29 |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
16:22 | 1,000,000 @ 0.14p |
16:18 | 17,857 @ 0.14p |
16:05 | 1,966 @ 0.13p |
15:59 | 1,000,000 @ 0.14p |
15:54 | 1,000,000 @ 0.14p |
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