Naples Soap Company CEO Buys 1,666,667 Common Shares of Company Stock

Rhea-AI Summary

Naples Soap Company (NASO) Founder and CEO purchases 1,666,667 shares at $0.03 per share, showing confidence in the company's future. The company recently uplisted to the OTCQB® Venture Market and has expanded its geographic presence in Florida. The holiday season is expected to be busy with new product launches and an expanded assortment of gift sets.

Positive

• Founder's purchase of shares demonstrates confidence in the company's future
• Expansion from nine to 13 locations and increased geographic presence in Florida
• Preparation for a busy holiday season with new product launches and expanded gift set assortment

Negative

• None.

NAPLES, Fla.--(BUSINESS WIRE)-- Naples Soap Company, Inc (OTCQB: NASO), a health and wellness brand that offers high-quality skin and hair care products throughout the United States, today announced that Founder and CEO, Deanna Wallin, purchased 1,666,667 shares of common stock at $0.03 per share for an aggregate amount of $50,000.

“Last week, Naples Soap Company stock was officially uplisted to the OTCQB^® Venture Market operated by the OTC Markets Group Inc. The uplisting was a significant step forward in the growth of our Company. To show our investors my continued commitment and confidence in the Company’s future, I made this purchase,” stated Deanna Wallin, Founder & CEO of Naples Soap Company.

Naples Soap Company has gone through a significant expansion in the second half of 2023. The Company jumped from nine locations to 13 and expanded its geographic presence in Florida. “We’re heading into what has traditionally been our busiest time of year. Thus far, it appears that consumers are shopping early this holiday. We’re prepared for the fourth quarter rush with at least 40 new Naples Soap Company core products, our largest collection of accessory products and our most expansive assortment of gift sets in our company history,” Wallin added.

About Naples Soap Company

Founded in 2009 by Deanna Wallin, Naples Soap Company is a supplier of more than 400 bath, body and personal care products. Products are sold at the Company’s 13 retail locations in Florida. Naples Soap Company products are sold online from the Company’s website at www.naplessoap.com, through other DTC (direct-to-consumer) channels such as Amazon.com and in more than 300 boutiques, spas and stores throughout the United States via the Company’s wholesale division. For more information about investing with Naples Soap Company, visit www.ir.naplessoap.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are subject to uncertainty and may not come to fruition. Readers are cautioned not to place undue reliance on any forward-looking statement including statements that list numbers and dates.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231108405555/en/

Deanna Wallin, Founder and CEO

investorrelations@naplessoap.com | (239) 325-8263

Source: Naples Soap Company

FAQ

What is the ticker symbol of Naples Soap Company?

The ticker symbol is NASO.

What did the Founder and CEO purchase?

Deanna Wallin purchased 1,666,667 shares of common stock at $0.03 per share.

What market was Naples Soap Company recently uplisted to?

The company was uplisted to the OTCQB® Venture Market.

How many locations did the company expand to?

The company expanded from nine to 13 locations.

What is expected for the holiday season?

The holiday season is expected to be busy with new product launches and an expanded assortment of gift sets.