Kona Gold Solutions, Inc. Returns Elev8 Brands, Inc. Preferred Shares for $1.5 Million
December 04 2019 - 9:00AM
InvestorsHub NewsWire
Kona Gold Solutions, Inc. Returns Elev8 Brands, Inc.
Preferred Shares for $1.5
Million
Melbourne, FL -- December 4, 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 entered into an agreement with Elev8 Brands, Inc.
to return 2,746,723 shares of its Series D Preferred Stock in
exchange for a $1,500,000 non-convertible promissory note payable
within 10 years.
Kona Gold Solutions and Elev8 Brands
worked closely together to form an agreement that was beneficial to
both companies and would add value to shareholders on both
sides. As both companies continue to grow into national
brands, creating shareholder value is a primary
focus.
“In our continuing efforts to grow our
Company into a national brand and create shareholder value, I’m
excited to announce that Kona Gold has entered into an agreement
with Elev8 Brands to exchange its ownership of Elev8 Brands Series
D Preferred stock for $1.5 million dollars,” stated Robert Clark,
CEO of Kona Gold Solutions, Inc. “This allows us to lock in a
dollar amount for the Preferred shares and to have a valuable asset
on our balance sheet.”
“Kona Gold Solutions has been a
great partner to work alongside and I am very pleased that this
agreement has worked in favor of all,” says Ryan Medico, CEO of
Elev8 Brands, Inc.
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 Infused Energy Water, available
in 6 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:
Robert
Clark
844-714-2224
investorrelations@konagoldhemp.com
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