Kona Gold Beverage, Inc. Subsidiary Gold Leaf Distribution Post Highest Monthly Revenue in January

Rhea-AI Summary

Kona Gold Beverage (OTCQB: KGKG) announces strong January revenue of approximately $215,000 and gross margins of 31%, marking the highest revenue month for its subsidiary, Gold Leaf Distribution. Two out of three locations turned a profit, with a new site in Conway, SC nearing profitability. The company has secured distribution to 52 Quik Trip locations in South Carolina starting February. Additionally, Kona Gold will launch its Ooh La Lemin Sparkling Lemonade next week, with a large portion already presold.

Positive

• Gold Leaf Distribution recorded approximately $215,000 in revenue for January, its highest month to date.
• Gross margins for Gold Leaf reached approximately 31%.
• Two out of three business locations were profitable in January.
• Authorized to distribute to 52 Quik Trip locations beginning in February.
• Ooh La Lemin Sparkling Lemonade production starts next week, with most of the first run already presold.

Negative

• None.

Company’s new Ooh La Lemin Sparkling Starts Production Next Week

Melbourne, FL, Feb. 02, 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 its wholly owned subsidiary, Gold Leaf Distribution, has posted its highest revenue month in January, closing out with approximately $215,000 in revenue and gross margins of approximately 31%.  Gold Leaf’s Melbourne, FL and Greer, SC locations both posted profits for the month of January.  Gold Leaf’s Conway, SC location, which opened in October of last year, is expected to near profitability in the next several months as beverage season kicks in during the Spring and Summer months.

Gold Leaf Distribution recently received authorization to distribute to 52 Quik Trip (QT) locations in South Carolina, where it will be delivering a selection of products on a weekly basis to these stores starting in February.  This selection of product will be new brands for Gold Leaf and is big milestone for the Company to begin distributing to a popular quality chain that has been serving customers with quality products for over 60 years.

“I am pleased to announce to our shareholders that Gold Leaf Distribution, our distribution subsidiary, continues to hit record monthly revenues and January was no exception,” stated Robert Clark, CEO of Kona Gold Beverage, Inc. “With January being one of the slowest months in the beverage industry, our Gold Leaf operation hit well over $200,000 for the month of January which is evident of the continuation of our monthly growth.  Two out of three of our business location were profitable in January and we anticipate Gold Leaf to start posting Companywide monthly profits in the coming months.”

Kona Gold, the Company’s other wholly owned subsidiary, recently announced it has developed and will be launching a new line of beverages, Ooh La Lemin Sparkling Lemonade, with all six flavors going into production next week.  The majority of the first production run of Ooh La Lemin Sparkling is already presold, going to distributors and retail chains.  The Company has secured an additional, larger production run in March in order to stay lock stepped with demand for its new healthy line of beverages.  Ooh La Lemin Sparkling will be available on the Company’s ecommerce website along with Amazon in February.

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 was Kona Gold Beverage's revenue in January 2022?

Kona Gold Beverage reported approximately $215,000 in revenue for January 2022.

What are the profit margins for Gold Leaf Distribution?

Gold Leaf Distribution achieved gross margins of approximately 31% for January 2022.

Where is Kona Gold Beverage expanding its distribution?

Kona Gold Beverage is expanding its distribution to 52 Quik Trip locations in South Carolina.

When will Ooh La Lemin Sparkling Lemonade be available?

Ooh La Lemin Sparkling Lemonade will start production next week and will be available in February.

How many locations in total were profitable for Gold Leaf Distribution in January 2022?

Two out of three locations for Gold Leaf Distribution were profitable in January 2022.