Kona Gold Beverage, Inc. Beats February Revenue Projections

Rhea-AI Summary

Kona Gold Beverage (OTCQB: KGKG) announced that its Ooh La Lemin Lemonades will be sold in Walmart stores starting June 2022. The company exceeded its February revenue projections of $325,000, achieving approximately $345,000. This growth is part of a broader strategy to achieve over $1 million in revenue for Q1 2022. Gold Leaf Distribution, another subsidiary, is expanding rapidly, becoming a significant distributor in South Carolina. The company anticipates continued growth in revenue in Q2, driven by demand for its beverage portfolio.

Positive

• Exceeded February revenue projections by approximately $20,000.
• On track to exceed $1 million in revenue for Q1 2022.
• Ooh La Lemin Lemonades to be sold in Walmart, expanding market presence.
• Gold Leaf Distribution experiencing unprecedented growth, hiring personnel and purchasing delivery trucks.

Negative

• None.

Company recently announced its Ooh La Lemin Lemonades will be sold in Walmart Stores

Melbourne, FL, March 08, 2022 (GLOBE NEWSWIRE) -- Kona Gold Beverage, Inc. (OTCQB: KGKG), a holding company focused on product development in the better-for-you and hemp and CBD functional beverage sector, is pleased to announce the Company has beat its February Revenue Projections.  The Company forecasted $325,000 in revenue for February and closed out the month with approximately $345,000 in revenue between its two subsidiaries, Kona Gold LLC and Gold Leaf Distribution LLC.  Kona Gold Beverage is on track to having its first quarter with one million plus in revenue.

Kona Gold Beverage is laying the ground work to have a phenomenal year with both of its subsidiaries.  The Company is seeing demand grow on a daily basis for its Ooh La Lemin Lemonades and new Sparkling Lemonades.  The rebranding of the Company’s popular hemp energy drink, Kona Gold, will debut in Q2. In addition, the Company anticipates to see big revenue growth in Q2 with its beverage brands and has forecasted out production in 2022 to keep up with demand.

Gold Leaf Distribution, the Company’s distribution subsidiary, continues to be a bright spot within the Company and has experienced unprecedented growth as it becomes one of the largest distributors in South Carolina.  Gold Leaf now distributes to Target, Quik Trip, Piggly Wiggly, IGA, and soon-to-be other big box and grocery stores.  To keep up with growth, Gold Leaf continues to hire personnel and purchase delivery trucks.

“I am very pleased to share with our shareholders that we have exceeded our February revenue forecast and are on track to have a very exciting year,” stated Robert Clark, CEO of Kona Gold Beverage, Inc. “Between the demand for our beverage portfolio and distribution side, our team is working on many opportunities that will be coming to fruition in the coming weeks and months.  We are on track to have our first million-dollar quarter and laying the foundation for even bigger growth in Q2.”

Kona Gold recently announced its popular Ooh La Lemin Lemonades will be sold in Walmart brick and mortar stores.  The Company’s 16 oz Ooh La Lemin Lemonades, available in 4 flavors, will be included in modular sets in all stores with 12 ft or wider coolers in select states starting in June of 2022.  The Company will announce which states at a later date as it gets closer to launch.  The 4 flavors of Ooh La Lemin will be in Walmart’s system nationwide, which will give the Company fire power to secure distribution in states where it’s currently lacking.

This is a huge step forward for Kona Gold Beverage as the Company focuses on taking its brand portfolio nationally.  The Company’s Ooh La Lemin Lemonades are currently sold in popular chains such as Wawa, Plaid Pantry, Piggly Wiggly, Coborn’s, Hyvee, and others.  The Company is currently in talks with several other national retailors to carry its Ooh La Lemin Lemonades, and will update shareholders as those come to fruition.

For more information regarding Kona Gold Beverage, please visit:
https://konagoldbeverage.com/

About Kona Gold Beverage, Inc.

Kona Gold Beverage, Inc., a Delaware corporation, has created wholly-owned subsidiaries, Kona Gold LLC, HighDrate, LLC, and Gold Leaf Distribution, LLC.  Kona Gold, LLC has developed a premium Hemp-Infused Energy Drink line; please visit its website at www.konagoldhemp.com.  HighDrate, LLC has developed the beverage industry’s first CBD-Infused Energy Water, available in 6 delicious flavors; please visit its website at www.highdrateme.com.  Gold Leaf Distribution, LLC was created to fill the Company’s distribution needs in markets that it wants to enter quickly; please visit its website at www.goldleafdist.com.  Kona Gold Beverage, Inc. recently rebranded its Lemin Lemonade to Ooh La Lemin Lemonade; please visit its website at www.oohlalemin.com. Kona Gold and its family of companies are located on the east coast of Florida in Melbourne and in Greer and Conway South Carolina.

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 Registration Statement on Form S-1.  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: 
Robert Clark
844-714-2224
investorrelations@konagoldbeverage.com

FAQ

What revenue did Kona Gold Beverage achieve in February 2022?

Kona Gold Beverage achieved approximately $345,000 in revenue for February 2022, exceeding its forecast of $325,000.

When will Ooh La Lemin Lemonades be available in Walmart?

Ooh La Lemin Lemonades will be sold in Walmart stores starting in June 2022.

What are the growth expectations for Kona Gold Beverage in 2022?

Kona Gold Beverage is on track to exceed $1 million in revenue for Q1 2022 and anticipates significant growth in Q2.

How is Gold Leaf Distribution performing?

Gold Leaf Distribution is experiencing unprecedented growth and is becoming one of the largest distributors in South Carolina.

What is the significance of selling in Walmart for Kona Gold Beverage?

Selling in Walmart is a significant step for Kona Gold Beverage as it expands its brand portfolio nationally and increases market presence.