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Fresh Vine Wine Announces Continued Growth, Adding Two New States, Implementing Strategy to Speed Rapid Expansion

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Fresh Vine Wine’s “Better For You” Wines Gain Distribution in Michigan and New Jersey just in time to toast your Valentine

MINNEAPOLIS, Feb. 14, 2022 — Fresh Vine Wine, Inc. (NYSE American: VINE), the premier producer of low carb, low calorie premium wines in the United States, today announced that it has expanded distribution to two new states, Michigan and New Jersey.  These new states add to Fresh Vine Wine’s rapid, nationwide expansion, one of the Company’s key strategic priorities.  The Company also has a complementary, rapidly expanding direct-to-consumer distribution channel.

Janelle Anderson, CEO of Fresh Vine Wine, Inc., said, “Michigan and New Jersey are prime markets for our portfolio of affordable luxury wines that fit perfectly with today’s healthy lifestyle.  I am confident our unique collection of bold, crisp, and creamy wines that embody deeper connection with active lifestyles will find a receptive market in these highly populated states. The speed of our expansion is remarkable, which clearly demonstrates that our sales and marketing strategy and organization are one of the finest in the industry.”

Fresh Vine Wine was founded with the intent to fill a gap that exists in the current wine aisle – premium, delicious-tasting wines, low in calories and sugar, that appeal to today’s large and fast-growing market of “Better For You” consumers. Produced and bottled in Napa, California, the Fresh Vine Wine collection features a California Cabernet Sauvignon, Pinot Noir, Chardonnay, California Rosé wine, and a Limited Reserve Napa Cabernet. Fresh Vine Wine’s vision is to be the leading brand in the emerging “Better For You” category, capitalizing on the trend toward healthy living that is sweeping the food and beverage industry.

About Fresh Vine Wine, Inc.

Fresh Vine Wine, Inc. (NYSE American: VINE) is a premier producer of low carb, low calorie premium wines in the United States, kicking off a 2022 growth plan following its IPO in mid-December 2021. Fresh Vine Wine’s brand vision is to lead the emerging “Better For You” category, as health trends continue to accelerate in the US marketplace. The 2020 US wine market was a $69B category. Fresh Vine Wine plans to accelerate growth in 2022 by amplifying its marketing, expanding product offerings and expanding its team. Fresh Vine Wine positions its core brand lineup as an affordable luxury, retailing between $14.99-$22.99. Fresh Vine Wine’s varietals currently include its Cabernet Sauvignon, Chardonnay, Pinot Noir, and Rosé.

Forward-Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address various matters including statements regarding the timing or nature of future operating or financial performance or other events. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to hire additional personnel and to manage the growth of its business; the Company’s reliance on its brand name, reputation and product quality; the Company’s ability to adequately address increased demands that may be placed on its management, operational and production capabilities; the effectiveness of the Company’s advertising and promotional activities and investments; the Company’s reliance on celebrities to endorse its wines and market its brand; general competitive conditions; fluctuations in consumer demand for wine; overall decline in the health of the economy and consumer discretionary spending; the occurrence of adverse weather events, natural disasters, public health emergencies, or other unforeseen circumstances that may cause delays to or interruptions in the Company’s operations; risks associated with disruptions in the Company’s supply chain for grapes and raw and processed materials; the impact of COVID-19 and its variants on the Company’s customers, suppliers, business operations and financial results; disrupted or delayed service by the distributors the Company relies on for the distribution of its wines; the Company’s ability to successfully execute its growth strategy; the Company’s success in retaining or recruiting, or changes required in, its officers, key employees or directors; the Company’s ability to protect its trademarks and other intellectual property rights; the Company’s ability to comply with laws and regulations affecting its business, including those relating to the manufacture, sale and distribution of wine; claims, demands and lawsuits to which the Company may be subject and the risk that its insurance or indemnities coverage may not be sufficient; the Company’s ability to operate, update or implement its IT systems; the Company’s ability to successfully pursue strategic acquisitions and integrate acquired businesses; the Company’s potential ability to obtain additional financing when and if needed; the Company’s founders’ significant influence over the Company; and the risks identified in the Company’s other filings with the SEC. The Company cautions investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read the Company’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. The Company’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

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