Kona Gold Beverage, Inc. Raises $3 Million to Facilitate Growth
August 31 2021 - 08:00AM
InvestorsHub NewsWire
Kona Gold Beverage, Inc. Raises $3 Million to
Facilitate Growth
Melbourne, FL -- August 31, 2021 --
InvestorsHub NewsWire -- Kona Gold Beverage, Inc. (OTCQB:
KGKG), a holding company focused on product development in the
better-for-you and hemp and CBD functional beverage sector, is
pleased to announce it has raised $3 million in capital via a
Securities Purchase Agreement (SPA) with YA II PN,
LTD.
Kona Gold Beverage will use the proceeds from the
capital raise to facilitate growth across the Company’s
subsidiaries, Kona Gold LLC and Gold Leaf Distribution LLC.
From these proceeds, Kona Gold LLC is rebranding its Kona Gold Hemp
Energy Line and extending its Ooh La Lemin Brand product line.
Additionally, an extensive marketing push will be done for all
brands, and Kona Gold will be hiring key positions, such as
Territory Managers and a chain stores focused representative.
Gold Leaf Distribution proceeds will be used for opening new
distribution operations in new markets, which will include
warehouse space, delivery vehicles, and multiple new
hires.
“We have experienced fantastic growth in 2021 across
all subsidiaries, hitting record revenues in 2021, and this recent
round of funding will assist in accelerating that growth,” stated
Robert Clark, CEO of Kona Gold Beverage, Inc. “We have a lot of
exciting things happening across the Company, including the
expansion or our team from just 9 employees at the start of 2021 to
20 employees by the end of the year. On the beverage side, we
will be hiring an industry expert with chain store experience and
contacts to facilitate growth and opportunities into large chain
grocery and convenience stores, and additional Territory
Managers. Our team is currently working on line extensions
for our Ooh La Lemin brand, and we will be hiring a national
branding firm to lead our efforts in rebranding and refreshing our
popular Kona Gold Hemp Energy Drink line. We will also be
drastically increasing our marketing efforts across all brands in
an our continued effort to build brand
awareness.”
Clark continued, “Our Gold Leaf Distribution
subsidiary has been a bright spot within the Company. Gold
Leaf has expanded to 6 employees, 6 beverage trucks, and two
locations. We will be expanding our Gold Leaf operation to
include additional locations, which is a huge undertaking, but we
have created a great model that we can replicate in other
markets. Gold Leaf has substantially increased revenue in
2021 and we anticipate it to be approximately a $3-5 million dollar
Company in 2022.”
For more information regarding Kona Gold Beverage,
please visit:
https://konagoldbeverage.com/
About Kona Gold Beverage,
Inc.
Kona Gold Beverage, 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 its website
at www.konagoldhemp.com. HighDrate, LLC has developed
the beverage industry’s first CBD-Infused Energy Water, available
in 6 delicious flavors; please visit its website at
www.highdrateme.com. Gold Leaf Distribution, LLC
was created to fill the Company’s distribution needs in markets
that it wants to enter quickly; please visit its website
at www.goldleafdist.com. Kona Gold Beverage, Inc.
recently acquired S&S Beverage, Inc., which manufactures and
distributes LEMIN Superior Lemonade line; please visit its website
at www.drinklemin.com. Kona Gold and its family of
companies are located on the east coast of Florida in Melbourne and
in Greer, South Carolina.
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. The Company may also make
written or oral forward-looking statements in its filings with the
U.S. Securities and Exchange Commission, in press releases and
other written materials, and in oral statements made by its
officers, directors or employees to third parties. There can
be no assurance that such statements will prove to be
accurate. The Company cautions that these forward-looking
statements are further qualified by other factors including, but
not limited to, those set forth in the Company’s Registration
Statement on Form S-1. 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.
The Company does not undertake any obligation to
update publicly or to revise any statements in this release,
whether as a result of new information, future events, or
otherwise.
Investor Relations
Contact:
Robert Clark
844-714-2224
investorrelations@konagoldbeverage.com
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