Kaival Brands (OTCQB: KAVL) Announces Inclusion of Bidi Vapor in the FDA's list (released May 20, 2021) of products backed by a timely submitted PMTA

Rhea-AI Summary

Kaival Brands Innovations Group, Inc. (OTCQB: KAVL) announced that all 11 varieties of its Bidi Vapor BIDI^® Stick devices have been included in the FDA's list of tobacco products backed by a timely submitted PMTA, as of May 20, 2021. The BIDI^® Stick is recognized as the fastest-growing closed-system disposable electronic nicotine delivery system in the U.S. It offers a tamper-resistant design and features an eco-friendly recycling program. The company aims to grow innovative products into dominant brands in their markets.

Positive

• Inclusion of BIDI® Stick devices in the FDA's PMTA list enhances market credibility.
• BIDI® Stick is the fastest-growing ENDS in the U.S., indicating strong consumer demand.
• The company promotes environmental sustainability through the BIDI® Cares recycling program.

Negative

• None.

GRANT, Fla., May 28, 2021 /PRNewswire/ -- Kaival Brands Innovations Group, Inc. (OTCQB: KAVL) ("Kaival Brands," the "Company," or "we"), is the exclusive global distributor of products manufactured by Bidi Vapor, LLC ("Bidi Vapor"), including the BIDI^® Stick disposable electronic nicotine delivery system ("ENDS"), which is intended exclusively for adults 21 and over.

Bidi Vapor in the FDA's list (released May 20, 2021) of products backed by a timely submitted PMTA

Kaival Brands is excited to announce that all 11 varieties of Bidi Vapor's BIDI® Stick devices were included on the U.S. Food and Drug Administration's ("FDA") recently released list of deemed new tobacco products. This is a list of ENDS products for which a Premarket Tobacco Product Application ("PMTA) was submitted to the FDA by September 9, 2020, which was the deadline for currently marketed products.

Bidi Vapor's primary offering, the BIDI^® Stick, is the fastest-growing closed-system disposable ENDS in the U.S., according to a recent Nielsen market share data report for the 52-week period ending March 27, 2021. The tamper-resistant BIDI^® Stick is also the only ENDS on the market with an ecologically friendly, mass-recycling program called Bidi^® Cares, and is the subject of a comprehensive PMTA now under review with the FDA.

Mr. Patel, the Company's President, Chief Executive Officer, and Chief Financial Officer, owns and controls Bidi Vapor. As a result, Bidi Vapor and the Company are considered under common control and Bidi Vapor is considered a related party.

ABOUT BIDI VAPOR

Based in Melbourne, Florida, Bidi Vapor maintains a commitment to responsible marketing, supporting age-verification standards and sustainability through its BIDI^® Cares recycling program.  The company's premiere device, the BIDI^® Stick, is a premium product made with medical-grade components, a UL-certified battery, and technology designed to deliver a consistent vaping experience for adults 21 and over.  Bidi Vapor is also adamant about strict compliance with all federal, state, and local guidelines and regulations.  At Bidi Vapor, innovation is key to our mission, with the BIDI^® Stick promoting environmental sustainability, while providing a unique vaping experience to adult smokers.

For more information, visit www.bidivapor.com.

ABOUT KAIVAL BRANDS

Based in Grant, Florida, Kaival Brands is a company focused on growing and incubating innovative and profitable products into mature and dominant brands in their respective markets. Our vision is to develop internally, acquire, own, or exclusively distribute these innovative products and grow each into dominant market-share brands with superior quality and recognizable innovation. Kaival Brands is the exclusive global distributor of all products manufactured by Bidi Vapor.

Learn more about Kaival Brands Innovations Group, Inc., at www.kaivalbrands.com 

Forward-Looking Statements

This press release includes statements that constitute "forward-looking statements" within the meaning of federal securities laws, which are statements other than historical facts that frequently use words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "position," "should," "strategy," "target," "will," and similar words. All forward-looking statements speak only as of the date of this press release. Although we believe that the plans, intentions, and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions, or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such statements. Our business may be influenced by many factors that are difficult to predict, involve uncertainties that may materially affect results, and are often beyond our control. Factors that could cause or contribute to such differences include, but are not limited to, the approval of our application for listing on the Nasdaq Capital Market; the duration and scope of the COVID-19 pandemic and impact on the demand for the products we distribute; the actions governments, businesses, and individuals take in response to the pandemic, including mandatory business closures and restrictions on onsite commercial interactions; the impact of the pandemic and actions taken in response to the pandemic on global and regional economies and economic activity; the pace of recovery when the COVID-19 pandemic subsides; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the effects of steps that we could take to reduce operating costs; our inability to generate and sustain profitable sales growth; circumstances or developments that may make us unable to implement or realize anticipated benefits, or that may increase the costs, of our current and planned business initiatives; changes in government regulation or laws that affect our business; significant changes in our relationships with our distributors or sub-distributors; and those factors detailed by us in our public filings with the Securities and Exchange Commission. All forward-looking statements included in this press release are expressly qualified in their entirety by such cautionary statements. Except as required under the federal securities laws and the Securities and Exchange Commission's rules and regulations, we do not have any intention or obligation to update any forward-looking statements publicly, whether as a result of new information, future events, or otherwise.

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SOURCE Kaival Brands

FAQ

What is the significance of Kaival Brands' inclusion in the FDA PMTA list?

The inclusion enhances the market credibility of Kaival Brands' products, potentially boosting sales.

How many varieties of BIDI® Stick devices were included in the FDA list?

All 11 varieties of BIDI® Stick devices were included in the FDA's PMTA list.

What is the market position of the BIDI® Stick?

The BIDI® Stick is the fastest-growing closed-system disposable electronic nicotine delivery system in the U.S.

What sustainability initiatives does Bidi Vapor promote?

Bidi Vapor promotes an eco-friendly recycling program called BIDI® Cares.

What is the stock symbol for Kaival Brands?

The stock symbol for Kaival Brands is KAVL.