Melbourne, Florida–(Newsfile Corp. – July 16, 2020) – Kona Gold Solutions, Inc. (OTCQB: KGKG), a holding company focused on product development in the hemp and CBD functional beverage sector, is pleased to announce it has filed a Registration Statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) to register securities under the Securities Act of 1933 pursuant to a Securities Purchase Agreement (SPA) with YA II PN, LTD.
The S-1 Registration Statement includes two years of Kona Gold’s financial statements, audited by a PCAOB registered independent public accounting firm. This filing adds increased transparency regarding Kona Gold by including information about its planned use of the additional proceeds that it will receive from YA II PN, LTD and updated details of its current business model and the competitive landscape in which it functions, as well as a description of the offering.
Kona Gold plans to utilize the funding to continue its product development, increase its inventory to support distribution demand, expand its marketing & advertising activities, and acquire additional equipment, as well as for working capital purposes and, possibly, in connection with a strategic acquisition. Additional funding will allow Kona Gold to execute its plan to build a beverage company that is comprised of multiple beverage brands in several different market segments. In connection with the filing, Kona Gold modified its capital structure to provide increased flexibility for future opportunities.
“Kona Gold has hit another milestone with the filing of our S-1, which is needed in our pursuit to be listed on a national stock exchange,” stated Robert Clark, CEO of Kona Gold Solutions, Inc. “Our agreement with YA II PN provides the Company with additional working capital to aggressively develop new brands and, possibly, to pursue acquisitions of other beverage brands, as we execute our strategy of building a family of outstanding beverage brands in various market segments.”
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 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 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.
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