Kona Gold Solutions, Inc. Signs LOI to Lease 30,000 Square Foot Warehouse in South Carolina
May 17 2019 - 9:00AM
InvestorsHub NewsWire
Kona Gold Solutions, Inc. Signs LOI to Lease 30,000
Square Foot Warehouse in South
Carolina
The Company is on track to beat its projections of
$400,000 in revenue for
Q2
Melbourne, FL
-- May 17, 2019 -- InvestorsHub NewsWire
-- Kona Gold Solutions, Inc. (OTC Pink:
KGKG), a hemp and CBD lifestyle brand focused on product
development in the functional beverage sector, is pleased to
announce it has signed an LOI to lease warehouse space in Greer,
South Carolina, right outside of Greenville. The warehouse
encompasses 30,000 square feet, in which the Company will acquire
15,000 square feet with the option to lease the additional 15,000
square feet within two years. The new warehouse space will
operate as Kona Gold’s distribution hub, where all product will be
stored and shipped to distributors around the country. The
location will also serve as a new Gold Leaf Distribution hub as the
Company expands Gold Leaf’s distribution footprint in new
markets. Gold Leaf is currently targeting potential
distribution acquisitions to expand its territories and product
offerings.
Kona Gold moved into its new 5,000
square foot Corporate headquarters one year ago and has already
maxed out its capacity to store product at that location as the
Company continues its rapid growth. The Florida offices will
continue to serve as the Corporate headquarters for the
Company.
“With the extension and high demand of
our product lines, we are now producing 100 to 150 pallets each
month, exceeding what our current warehouse in Florida can
accommodate,” stated Robert Clark, CEO of Kona Gold Solutions, Inc.
“We made the strategic decision to lease warehouse space in South
Carolina, which will become our distribution hub for all Kona Gold
products. Shipping lanes are very expensive out of Melbourne,
FL, and the expense saved by shipping to our 40 plus distributors
from South Carolina, will come close to offsetting the new monthly
lease. I am very excited by the Company’s continued growth
and success and this move positions us to continue on that upward
path.”
Kona Gold recently had a record
quarter in revenue in Q1, with over $272,000 in sales. The
Company recently posted its projections of $400,000 for Q2 and is
on track to beat that estimate, with April sales upwards of
$180,000 alone.
For more information regarding Kona
Gold Solutions, please visit:
http://www.konagoldhemp.com
https://www.facebook.com/konagoldhemp
https://twitter.com/konagoldhemp
https://www.instagram.com/konagoldhemp/
For more information regarding
HighDrate, please visit:
http://www.highdrateme.com
https://www.facebook.com/HighDrateMe/
https://twitter.com/highdrateme
https://www.instagram.com/highdrateme/
Kona Gold Solutions,
Inc.:
Kona Gold Solutions, Inc., a Delaware
Corporation, has created wholly owned subsidiaries, Kona Gold LLC,
HighDrate, LLC, and Gold Leaf Distribution, LLC. Kona Gold,
LLC has developed a premium Hemp Infused Energy Drink line; please
visit the Company’s website at www.konagoldhemp.com. HighDrate, LLC has developed
the beverage industry’s first CBD Energy Water, available in 4
delicious flavors; please visit the Company’s website
at www.highdrateme.com. Gold Leaf Distribution, LLC was created to
fill the Company’s distribution needs in markets it wants to
quickly enter. The Companies are located on the east coast of
Florida in Melbourne.
Safe Harbor
Statement:
The information posted in this release
may contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. You can identify
these statements by use of the words "may," "will," "should,"
"plans," "expects," "anticipates," "continue," "estimate,"
"project," "intend," and similar expressions. Forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from those projected or anticipated.
These risks and uncertainties include, but are not limited to,
general economic and business conditions, effects of continued
geopolitical unrest and regional conflicts, competition, changes in
technology and methods of marketing, delays in completing various
engineering and manufacturing programs, changes in customer order
patterns, changes in product mix, continued success in
technological advances and delivering technological innovations,
shortages in components, production delays due to performance
quality issues with outsourced components, and various other
factors beyond the Company's control.
Investor Relations
Contact:
investorrelations@konagoldhemp.com
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