Bon Natural Life Limited Announces Signing MOU for Distributing Jiangwang Spirits in China

Rhea-AI Summary

Bon Natural Life signs MOU with Jiangwang for distribution of Chinese White Spirits and health products in China markets.

Positive

• Bon Natural Life will expand into the spirit market by distributing Jiangwang's spirits, which could lead to leapfrog development and market entry as a well-known brand.
• Jiangwang is a renowned producer and distributor of spirits in China, with its major products winning prizes and being ranked as one of the top spirit brands in the country.

Negative

• None.

XI’AN, China, Oct. 06, 2023 (GLOBE NEWSWIRE) -- Bon Natural Life Limited (Nasdaq: BON) ("BON" or the "Company"), one of the leading bio-ingredient solutions providers in the natural, health and personal care industries, today announced the signing of a Memorandum of Understanding with Guangdong Jiangwang International Holdings Limited (“Jiangwang”). This MOU allows the parties to negotiate the terms and conditions of a definitive agreement for BON to distribute Jiangwang’s Chinese White Spirits (“Spirits”) and other related health products in China Markets.

Jiangwang, located in Guangdong, with its production base at Moutai Town, Guizhou Province, is a producer and distributor of a series of spirits in China. Moutai Town is renowned for the white spirits manufactured in this region. Jiangwang’s major products, winning various prizes in the spirit industry, are sold all over China, and is ranked as one of the top spirit brands in China.

BON has been engaged in the business of natural, health and personal care industries for more than 16 years, and has been pondering to expand into the spirit market. The opportunity to distribute Jiangwang’s spirits would enable BON to obtain leapfrog development in the spirit industry and enter the market as a distinctive and well-known brand, through development of the healthy spirit products with distinct advantages of "Green Spirit and Healthy Spirit".

Mrs. Xu Yan, CEO of Jiangwang, stated, "I am pleased to work with the BON team, their product mix and distribution networks. We look forward to reaching our customers worldwide through these innovation, and sharing the benefits of technology innovation and market expansion with BON."

"We are honored to work with Jiangwang with their long history and solid reputation in the spirit and related health products," stated by Mr. Hu Yongwei, CEO of BON. " This is our first entry into the spirit industry. I believe we can promote this business and achieve tremendous development based on our R&D strength in spirit-related health food. This MOU is the first step of the cooperation with Jiangwang, and we expect to finalize the definitive distribution agreement and achieve mutual development in the future.”

About Bon Natural Life Limited ("BON")

BON is a Cayman Islands company engaged in the business of natural, health, and personal care industries. For more information, please visit http://www.bnlus.com.

For more information, please contact:

Cindy Liu | IR        
Email: bonnatural@appchem.cn

Safe Harbor Statement

This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes,""expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

FAQ

What is the purpose of the Memorandum of Understanding?

The MOU allows Bon Natural Life and Jiangwang to negotiate the terms and conditions of a definitive agreement for BON to distribute Jiangwang's Chinese White Spirits and other health products in China markets.

What is Jiangwang known for?

Jiangwang is known for being a producer and distributor of spirits in China, with its major products winning prizes and being ranked as one of the top spirit brands in the country.

How long has Bon Natural Life been in the natural, health, and personal care industries?

Bon Natural Life has been engaged in the natural, health, and personal care industries for more than 16 years.

What are the advantages of the healthy spirit products?

The healthy spirit products have distinct advantages of 'Green Spirit and Healthy Spirit', which align with BON's focus on natural and health-related industries.

What are the expectations for the future cooperation between Bon Natural Life and Jiangwang?

The MOU is the first step of the cooperation, and both companies expect to finalize the definitive distribution agreement and achieve mutual development in the future.