Heritage Distilling Holding Company, Inc. to Lead the Craft Spirits E-commerce Space in Accepting Bitcoin and Dogecoin as a Form of Payment

This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Heritage Distilling (NASDAQ:CASK) announced that its Board of Directors has approved the final version of its Cryptocurrency Treasury Reserve Policy (the "Cryptocurrency Policy") as part of a broader corporate sales and treasury diversification strategy which will enable the Company to lead the craft spirits space in accepting Bitcoin (BTC-USD) and Dogecoin (DOGE-USD) as a form of payment for its products and services.

The Cryptocurrency Policy is part of a broader initiative to diversify Heritage's revenue streams and treasury holdings. The Company is committed to being at the forefront of the craft spirits industry in accepting new forms of payment and investing in innovative technologies.

The company's goal is to begin accepting both Bitcoin and Dogecoin for online e-commerce sales later this year through its direct-to-consumer (DTC) platform. It is also exploring the possibility of accepting these cryptocurrencies at its tasting rooms and at select retail partners.

"We are excited to be adding both Bitcoin and Dogecoin to our treasury mix as part of a broader strategy to diversify our revenue streams and invest in new technologies that will help us to expand our business and create long-term value for our shareholders," said Matt Swann, Chair of the Technology and Cryptocurrency Committee of the Board of Directors. "We are also committed to being a leader in the craft spirits space in accepting cryptocurrencies as a form of payment."

The Cryptocurrency Policy was established with the belief that Bitcoin is positioned as a strategic asset to hold long-term while Dogecoin is emerging as the digital coin of choice for paying for goods and services. With estimates ranging from 65 to 86 million Americans holding Bitcoin and another estimated 83 million wallets holding Dogecoin, the ability for Heritage to begin accepting, acquiring and holding such cryptocurrency is a growing opportunity. The Company's Cryptocurrency Policy lays out the internal role, responsibility, governance, technology protocols, reporting and auditing required to put the effort into practice.

"A new age of commerce is emerging, with cryptocurrencies leading the way to reduce friction between parties, buyers and sellers of goods and services," adds Swann. Having been immersed in the convergence of technology and currencies for nearly two decades, it is exciting to see Heritage forge headfirst into the opportunity to combine the power of the consumer and cryptocurrency."

"Heritage has always been an innovator and once again we are leading the way in the craft spirits space as we prepare to accept Bitcoin and Dogecoin as a form of payment for online e-commerce sales and to acquire and hold these cryptocurrencies as assets," said Justin Stiefel, Chief Executive Officer of Heritage. "As I have noted in the past, unlike traditional investors who purchase crypto with cash and are immediately subject to potential pricing volatility, as a company producing goods for sale, acceptable margins between the retail price of our products and their cost of production is expected to offset any potential fluctuations in the value of cryptos we accept as payment. This provides us considerable financial flexibility as we develop product offerings for users and enthusiasts of these fiat alternatives."

The new Cryptocurrency Treasury Policy can be found here: https://ir.heritagedistilling.com/corporate-governance/governance-documents.About Heritage Distilling Holding Company, Inc.Heritage Distilling Holding Company, Inc. (NASDAQ: CASK) is a leading craft distiller of innovative premium brands. The Company's diverse portfolio includes whiskies, vodkas, gins, rums, and ready-to-drink canned cocktails, sold in a variety of sales channels, including wholesale, on-premises venues, e-commerce, and the recently announced Tribal Beverage Network (TBN).

Heritage is North America’s most awarded craft distillery by the American Distilling Institute for ten consecutive years out of the more than 2,600 craft producers. In addition to this remarkable achievement, Heritage has also garnered numerous Best of Class, Double Gold, and Gold medals at esteemed national and international spirits competitions.

Heritage is expanding its presence nationwide with a focus on new products, unique partnerships, and strategic initiatives to drive growth and increase shareholder value. Among its key priorities is the integration of technology and emerging trends, such as the acceptance of cryptocurrencies for online sales and the development of new revenue streams.

The Company is committed to operating in a responsible and sustainable manner, and it is actively involved in supporting local communities through its charitable contributions and partnerships.

Heritage Distilling Holding Company, Inc. is a rapidly growing and highly valued company in the craft spirits industry. With its strong brands, diverse products, and innovative strategies, the Company is well-positioned to continue expanding its footprint and generating significant returns for its investors in the years to come.