Kona
Gold Beverages, Inc. Signals Strategic Growth with $5 Million
Non-Dilutive Credit Line
Rockledge, FL -- January 23, 2024 --
InvestorsHub NewsWire -- Kona
Gold Beverages, Inc. (OTCPK:
KGKG), a dynamic holding company specializing in product
development within the better-for-you and functional beverage
sector, is proud to announce the company has successfully secured a
$5 million line of credit that will be dedicated to driving
production growth, expanding market share, and exploring potential
acquisitions.
Under the visionary leadership of the
new management team, Kona Gold Beverages, Inc. is taking a bold
step towards sustained growth. The $5 million credit line is
non-dilutive, meaning it does not have the option to convert into
shares of the company. This strategic move emphasizes the
management's commitment to preserving shareholder value and
ensuring responsible financial stewardship.
"This non-dilutive credit line marks
a significant milestone for Kona Gold Beverages, Inc. as we
strategically position ourselves for growth without compromising
the interests of our valued shareholders," said Brandon White,
President and Chairman of Kona Gold Beverages, Inc., "We understand
the importance of responsible expansion, and this credit line will
play a pivotal role in driving our production capabilities,
expanding our market presence, and exploring potential acquisitions
that align with our vision."
Management acknowledges the challenge
of a bloated share structure inherited from previous funding
sources, including the issuance of shares, warrants, and conversion
abilities. While some conversion possibilities may be beyond our
control, the new management team is fully committed to transparency
and will keep shareholders informed of any developments.
The company is actively taking steps
to eliminate conversion possibilities within its control,
recognizing the significance of growing the company without
diluting shareholder value. Additionally, Kona Gold Beverages, Inc.
remains dedicated to seeking funding sources that not only align
with the company's growth objectives but also prioritize the best
interests of its shareholders and their value.
Key Highlights:
-
Strategic
Credit Line: The $5 million
non-dilutive credit line will be used for production growth, market
share expansion, and potential acquisitions.
-
Preserving
Shareholder Value: The credit line is
structured to safeguard shareholder value by preventing conversion
into shares of the company.
-
Transparency
Commitment: Management is fully
committed to transparency and will keep shareholders informed
regarding the share structure and any potential conversion
developments.
-
Responsible
Financial Stewardship: The new management
team is focused on eliminating conversion possibilities within its
control and seeking funding sources aligned with shareholder
interests.
Kona Gold Beverages, Inc. is poised
for an exciting phase of growth, and this strategic financial move
underlines the company's dedication to responsible expansion and
shareholder value.
The Company recently announced it has
eliminated $1.3 Million in debt and has reduced its authorized
shares by 4.386 Billion shares.
For more information regarding Kona
Gold Beverage, please visit:
https://konagoldbeverage.com/
About Kona Gold Beverage,
Inc.
Kona Gold Beverage, Inc., a Delaware
corporation, operates its wholly-owned subsidiary, Kona Gold
LLC.
Kona Gold, LLC has developed a
premium Hemp-Infused Energy Drink line; please visit its website
at
www.konagoldhemp.com. Kona Gold is located on the east
coast of Florida in Rockledge.
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.
Investor Relations
Contact:
844-714-2224
investorrelations@konagoldbeverage.com