Kona
Gold Beverages, Inc. Nears Completion of Reverse Merger with New
Candidate
Company Finalizes Sale of Kona
Gold LLC
Melbourne, FL --
August 12, 2024 -- InvestorsHub NewsWire -- Kona Gold Beverage Inc.
(OTC
Pink: KGKG), is pleased to announce that it has narrowed its
search to the final two candidates for a reverse merger. The
company anticipates completing the reverse merger within the next
30 to 45 days. Upon completion, an entirely new management team
will be established, steering the company in a fresh and innovative
direction that aligns with the best interests of our
shareholders. Additionally, upon completion of the reverse
merger, the current management team will resign all of their
positions with the Company.
The two candidates
under consideration for the reverse merger present an unprecedented
opportunity for the Company to gain national exposure and access a
broader market reach. Each candidate has the potential to
significantly expand our shareholder and investor base, introducing
a wealth of new opportunities. This merger is poised to enhance
shareholder value, creating exciting prospects for both current and
future investors.
In addition, the
Company is excited to announce it has finalized the sale of Kona
Gold, LLC This strategic move is part of our broader plan to divest
previous subsidiaries and allow the company to start anew with a
reimagined team, direction, and a new name: NuVibe, Inc.
Furthermore, Kona
Gold Beverages, Inc. is in the final stages of negotiations to
eliminate all existing debt with its largest debt holder without
issuing any additional shares. This decisive action is aimed at
providing the incoming management team with the strongest possible
foundation for success, ensuring a brighter future for the company
and its shareholders.
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 and Covert LLC, it offers a diverse
range of healthy energy drinks and other premium products and
distribution services. Kona Gold, LLC, currently under LOI to
be sold to Bemax, Inc. (OTCPK: BMXC), offers a 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. 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.