NxGen Brands Inc (NXGB)

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$NXGB announces a second brand has been added to the LOI making the recent acquisition an increased revenue gain from the same deal terms.

These brands together look set to show un-audited revenues for 2023 exceeding $1.25m with a brand-new contract with the Pacific region contract coming online earlier this month which will see non-US revenues skyrocket in a region which traditionally out-sells other markets with similar demographics. Their own-brand protein is scheduled to come back on stream in Q1 meaning a significant bump in revenues, which the company estimates could be as high as a 25% increase in revenues now that protein market prices have stabilized internationally and consumers move back to their protein powder products buying habits.

Joseph Lawanson, CEO of NxGen, stated, "we believe that these two brands together could contribute in excess of $2m to our topline in 2024, with Storm adding a further $1.25m with targeted advertising spend. Such revenues, in real terms and in growth terms, have not been seen from NxGen previously and I am excited to be able to begin the journey of increasing shareholder value through 2024 and beyond. This is just the start of the journey."

NxGen recently announced that it had already completed on its first roll-up by acquiring 'Storm Lifestyle Brands' (www.stormlifestylebrands.com) which was launched in October 2021 to great fanfare at Olympia and has since gone from strength to strength with its Pre-Workout, Burn, Revive and Focus products. This new acquisition, the Company believes, will fit in to a different but equally fast-growing demographic and will, therefore, be a superb fit.

The company has already agreed with former officers to purchase and retire around 14m shares. A further 40 million shares issued to new CEO Joseph Lawanson are ineligible to have any restrictions removed until 2026. At the date of this release, only 5.6 million are currently held at DTC in the free trading float and the Issued Share Capital is 63,079,566.

https://finance.yahoo.com/news/nxgen-brands-inc-expands-position-125200941.html