**Alert** Tenth and Blake Terrapin Loan Converted to Minority Stake

October 5, 2011 Tenth and Blake Terrapin Loan Converted to Minority Stake Dear Client:CBD has obtained an employee-facing e-mail from Terrapin founder John Cochran announcing the brewery's request that Tenth and Blake convert a portion of their loan to a minority stake in the Athens, Georgia-based company. John told CBD the stake is less than 25%, which will allow them to remain independent by the BA's standards. The letter clarifies exactly what the stake will and won't mean: "In short,