Much to the delight of its shareholders, the Gage Roads Brewing Co Limited (ASX: GRB) share price was one of the best performers on the local share market on Monday.
The brewing company's shares ended the day 18% higher at 7.2 cents.
Why did its shares rocket higher?
This afternoon Gage Roads' shares emerged from a trading halt following the announcement of a key tender win.
According to the release, the company has been formally appointed as the exclusive supplier of beer and cider to Perth Stadium and the soon-to-be-completed 60,000-seater Stadium Park in Western Australia.
The supply contract will run for five years and is due to commence on January 1 2018.
As well as gaining a boost from sales within the stadium, management believes that the agreement will give the brand invaluable exposure that accelerates sales growth momentum though its existing channels.
