Kona Gold
Beverage Inc. Signs Letter of Intent with Bemax, Inc. to Sell Kona
Gold, LLC
Company Executing
Ongoing Growth Initiatives
Melbourne, FL -- August 7,
2024 -- InvestorsHub NewsWire -- Kona Gold Beverage Inc. (OTC
Pink: KGKG), is excited to announce the signing of a Letter of
Intent (LOI) with Bemax, Inc. (OTC
Pink: BMXC) to sell Kona Gold, LLC. This strategic agreement is
a key step in fulfilling Kona Gold Beverage's initiative to bring
in new management and shift the company's direction, leveraging
fresh perspectives and capabilities to drive future growth and
success. Simultaneously, it aids Bemax in expanding their product
offerings in the consumer-packaged goods (CPG) space.
The acquisition will combine
Kona Gold's innovative beverage products with Bemax's extensive
distribution network, increasing market share and driving sales.
Both companies will benefit from shared resources and operational
synergies, enhancing efficiency and reducing costs. This
collaboration will enable Kona Gold to introduce its products to
new markets and demographics, aligning with its growth strategy and
commitment to shareholder value, while focusing on co-developing
new product lines leveraging Bemax's distribution channels and Kona
Gold's product innovation.
Jermain Strong, President of
Kona Gold Beverage, stated, "This LOI with Bemax, Inc. represents a
significant milestone for Kona Gold. We believe Bemax is the
perfect fit to take Kona Gold, LLC to the next level in business.
Their extensive distribution network and commitment to innovation
align seamlessly with our vision, and we are excited about the
potential this acquisition holds for expanding Kona Gold's
presence."
Taiwo Aimasiko, CEO of
Bemax, Inc., commented, "We are thrilled to move forward with the
acquisition of Kona Gold, LLC. This acquisition aligns perfectly
with our goals to expand our product portfolio and strengthen our
position in the CPG industry. Kona Gold's innovative approach and
established market presence are a valuable addition to our company,
and we look forward to leveraging their strengths to drive mutual
growth and success."
The acquisition is subject
to customary closing conditions and regulatory approvals. Bemax
anticipates completing the transaction in the coming months, with
integration efforts commencing immediately thereafter. This
acquisition is expected to contribute positively to Bemax's revenue
and market position, further enhancing shareholder value.
In recent news, Kona Gold
Beverage, Inc. announced 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,
utilizing innovative ideas and expertise to propel future growth
and success. 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.
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
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in completing various engineering and manufacturing programs,
changes in customer order patterns, changes in product mix,
continued success in technological advances and delivering
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delays due to performance quality issues with outsourced
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