Kona Gold Beverages, Inc. Signals Strategic Growth with $5 Million Non-Dilutive Credit Line

Rhea-AI Summary

Kona Gold Beverages, Inc. secures a $5 million non-dilutive credit line to drive production growth, expand market share, and explore potential acquisitions. The company emphasizes its commitment to preserving shareholder value and responsible financial stewardship under new management. Additionally, the company has eliminated $1.3 million in debt and reduced its authorized shares by 4.386 billion shares.

ROCKLEDGE, Fla., Jan. 23, 2024 /PRNewswire/ -- Kona Gold Beverages, Inc. (OTCPK: KGKG), a dynamic holding company specializing in product development within the better-for-you and functional beverage sector, is proud to announce the company has successfully secured a $5 million line of credit that will be dedicated to driving production growth, expanding market share, and exploring potential acquisitions.

Under the visionary leadership of the new management team, Kona Gold Beverages, Inc. is taking a bold step towards sustained growth. The $5 million credit line is non-dilutive, meaning it does not have the option to convert into shares of the company. This strategic move emphasizes the management's commitment to preserving shareholder value and ensuring responsible financial stewardship.

"This non-dilutive credit line marks a significant milestone for Kona Gold Beverages, Inc. as we strategically position ourselves for growth without compromising the interests of our valued shareholders," said Brandon White, President and Chairman of Kona Gold Beverages, Inc., "We understand the importance of responsible expansion, and this credit line will play a pivotal role in driving our production capabilities, expanding our market presence, and exploring potential acquisitions that align with our vision."

Management acknowledges the challenge of a bloated share structure inherited from previous funding sources, including the issuance of shares, warrants, and conversion abilities. While some conversion possibilities may be beyond our control, the new management team is fully committed to transparency and will keep shareholders informed of any developments.

The company is actively taking steps to eliminate conversion possibilities within its control, recognizing the significance of growing the company without diluting shareholder value. Additionally, Kona Gold Beverages, Inc. remains dedicated to seeking funding sources that not only align with the company's growth objectives but also prioritize the best interests of its shareholders and their value.

Key Highlights:

• Strategic Credit Line: The $5 million non-dilutive credit line will be used for production growth, market share expansion, and potential acquisitions.
• Preserving Shareholder Value: The credit line is structured to safeguard shareholder value by preventing conversion into shares of the company.
• Transparency Commitment: Management is fully committed to transparency and will keep shareholders informed regarding the share structure and any potential conversion developments.
• Responsible Financial Stewardship: The new management team is focused on eliminating conversion possibilities within its control and seeking funding sources aligned with shareholder interests.

Kona Gold Beverages, Inc. is poised for an exciting phase of growth, and this strategic financial move underlines the company's dedication to responsible expansion and shareholder value.

The Company recently announced it has eliminated $1.3 Million in debt and has reduced its authorized shares by 4.386 Billion shares.

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

About Kona Gold Beverage, Inc.

Kona Gold Beverage, Inc., a Delaware corporation, operates its wholly-owned subsidiary, Kona Gold LLC.  Kona Gold, LLC has developed a premium Hemp-Infused Energy Drink line; please visit its website at www.konagoldhemp.com. Kona Gold is located on the east coast of Florida in Rockledge.

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 Annual Reports on Form 10-K and its other filings with the Securities and Exchange Commission.  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:
844-714-2224
investorrelations@konagoldbeverage.com

View original content:https://www.prnewswire.com/news-releases/kona-gold-beverages-inc-signals-strategic-growth-with-5-million-non-dilutive-credit-line-302042024.html

SOURCE Kona Gold Beverage, Inc.

FAQ

What is the purpose of the $5 million credit line secured by Kona Gold Beverages, Inc. (KGKG)?

The $5 million non-dilutive credit line will be used for production growth, market share expansion, and potential acquisitions.

How does the company plan to preserve shareholder value with the credit line?

The credit line is structured to safeguard shareholder value by preventing conversion into shares of the company.

What steps is the new management team taking to eliminate conversion possibilities within its control?

The new management team is focused on eliminating conversion possibilities within its control and seeking funding sources aligned with shareholder interests.

What recent financial achievements has Kona Gold Beverages, Inc. announced?

The company has eliminated $1.3 million in debt and reduced its authorized shares by 4.386 billion shares.

Where can I find more information about Kona Gold Beverages, Inc.?

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