Kona Gold Beverages, Inc. Announces Strategic Initiatives and
Corporate Direction Changes
Melbourne, FL -- August 2,
2024 -- InvestorsHub NewsWire -- Kona Gold Beverages, Inc.
(OTCPK:
KGKG), is excited to announce that it is actively engaging with
several companies to explore a strategic reverse merger. This
initiative aims to bring in new management and shift the company's
direction, leveraging fresh perspectives and capabilities to drive
future growth and success. These changes are expected to add
significant value for shareholders, providing substantial benefits
both in the short and long term.
Kona Gold Beverages, Inc.
will continue to operate its current subsidiaries and maintain its
commitment to increasing sales and revenues. The company believes
that the addition of substantial assets and revenues through these
new strategic partnerships will provide significant benefits to
shareholders, offering a fresh start and a more promising
future.
The company recognizes the
need for a completely new team to bring in new ideas, fresh energy,
and clear separations from the past. This move is intended to
ensure a brighter future for the company and its shareholders, and
to continue the current management team's best efforts to distance
itself from past management.
In addition to these new
initiatives, Kona Gold Beverages, Inc. wishes to address recent
developments regarding its acquisition of Surge Distribution
Company from Loud Beverage Group. Unfortunately, Kona Gold was
unable to meet all the necessary terms of the acquisition
agreement, resulting in the failure to finalize the acquisition,
and the ultimate reversion of Surge Distribution to Loud Beverage
Group.
Kona Gold Beverages, Inc.
remains committed to its growth strategy and will continue to seek
out opportunities that align with the best interests of its
shareholders. We appreciate the ongoing support and patience of our
shareholders as we navigate these exciting changes and look forward
to sharing more updates in the near future.
For more information
regarding Kona Gold Beverage, please visit: https://konagoldbeverage.com/
About Kona Gold Beverage,
Inc.
Kona Gold Beverage, Inc.,
operates as a holding company for innovative brands. Through its
subsidiaries, Kona Gold LLC, Covert LLC, and Surge Distribution,
LLC, it offers a diverse range of healthy energy drinks and other
premium products and distribution services. Kona Gold's premium
line of energy drinks caters to health-conscious consumers,
alongside its innovative HighDrate D9 Drinks. Covert LLC, operating
out of Charlotte, NC, specializes in high-quality products,
including Delta-8, THCa, THC-P, and Kratom. Surge Distribution,
LLC, operating out of Melbourne, FL, is a diverse distribution
company offering beverage and CPG products to a variety of retail
locations from big box grocery stores to small family-owned
specialty shops. Headquartered in Melbourne, Florida, Kona
Gold Beverage, Inc. is actively engaged in expanding its market
presence through strategic acquisitions.
Investor Relations
Contact:
Phone: 844-714-2224
Email: investorrelations@konagoldbeverage.com
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 Annual Reports on
Form 10-K and its other filings with the Securities and Exchange
Commission. 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.