Kona Gold Beverage Inc (KGKG)

[Excalibur13]

Kona Gold Solutions, Inc. Files S-1


1:54 pm ET July 16, 2020 (Newsfile) Print

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."



For more information regarding Kona Gold, please visit:

https://www.konagoldhemp.com

https://www.facebook.com/konagoldhemp

https://twitter.com/konagoldhemp

https://www.instagram.com/konagoldhemp/



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