NxGen Brands, Inc. Acquires Established Brand "Storm Lifestyles"™

Rhea-AI Summary

NxGen Brands, Inc. (OTCMKTS: NXGB) has made its first acquisition, aiming to 'Disrupt the Norm'™ with the recently acquired brand 'Storm Lifestyle'™. The brand has seen significant growth in the sports nutrition market and has already gained traction in the US, South America, and Canada. The global sports nutrition market is valued at over $81 billion, providing a substantial opportunity for NxGen. The company's new CEO, Joseph Lawanson, brings a wealth of experience in the industry, having worked with renowned brands and athletes. NxGen has also made strategic decisions regarding share purchases and issuance, with a focus on long-term growth and stability.

Positive

• None.

Negative

• The acquisition of 40 million shares by the new CEO, Joseph Lawanson, with restrictions on their removal until 2026, may lead to concerns about share dilution among shareholders. The retirement of around 14 million shares may also impact the company's stock performance in the short term.

NXGB Looks to 'Disrupt the Norm'™ with first Acquisition

WHEAT RIDGE, Colo. , Nov. 30, 2023 /PRNewswire/ -- NxGen Brands, Inc. (OTCMKTS: NXGB) ("NxGen" or the "Company"), (www.nxgenbrands.com) outlines its vision for the recently acquired brand "Storm Lifestyle"™, an innovative sports nutrition brand whose tag line is "Disrupt the Norm"™

Launched to great excitement at Olympia in 2021, the brand quickly grew amongst the younger and retro fitness demographic and its retail reach made it a significant new player after launch. The products that Storm has already in the market include "Pre-Workout", "Revive", "Focus" and "BURN" with "Shrooms" ready to go. The products come in four flavors, Blue Raspberry Rage, Steezy Sour Peach, Gnarly Grape and Wicked Wild berry. Further information on products can be found at www.stormlifestyles.com

According to Statista© Research, the global sports nutrition market is valued in excess of $81bn and Storm has already been sold throughout the US, South America and Canada, from small single store brick retailers, through GNC franchises and online through large e-commerce sports retailers.

NxGen recently announced that its new CEO, Joseph Lawanson, an industry veteran, has a strong background in aligning social media influencers, sports personalities and top athletes with brands to produce impressive growth. Throughout his long career in Nutritional Supplements, Mr. Lawanson has served many roles from Managing Sales at GAT© Sports, Director of Athletes at MusclePharm© and Director of Athletes at EAS©.

Joseph Lawanson, CEO of NxGen, when discussing the products stated: "'Pre-Workout' is one of the most impressive products to hit the pre-workout and active-living scene. It is absolutely stuffed full of clinically studied and proven branded ingredients. Featuring powerful and long-lasting energy as well as strength enhancers. 'Revive' is a combination of 20 amino acids that promote protein synthesis and muscle repair, combined with replenishing hydration. It also includes high quality and trademark ingredients: Myo-Seq™, AstraGin™, and Velositol™ for optimal absorption..."

He continued "'..BURN' is a safe and effective nootropic weight-loss supplement suitable for both men and women. This powdered supplement is perfect for all levels of athletes and sports competitors who are looking for a delicious drink to ignite your metabolism and mental focus without the jittery side effects and 'Focus' is an energy solution designed to help enhance cognitive performance. Focus consists of clinically proven ingredients that help with many areas of cognitive function to help support you to accomplish your goals. "

The company has already agreed with former officers to purchase and retire around 14m shares. A further 40 million shares issued to new CEO Joseph Lawanson are ineligible to have any restrictions removed until 2026. Only 5.6 million are currently held at DTC in the free trading float and the Issued Share Capital is 63,079,566.

About NxGen Brands, Inc.
NxGen Holdings, Inc. is a publicly traded company under the symbol NXGB. The Company is building a profitable Nutritional Supplements company, comprising of several brands. www.nxgenbrands.com

Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of NxGen Brands, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of NxGen, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on NxGen's future results. The forward-looking statements included in this press release are made only as of the date hereof. NxGen cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, NxGen undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by NxGen.

View original content:https://www.prnewswire.com/news-releases/nxgen-brands-inc-acquires-established-brand-storm-lifestyles-302001703.html

SOURCE NxGen Brands, Inc.

FAQ

What brand did NxGen Brands, Inc. acquire recently?

NxGen Brands, Inc. recently acquired the brand 'Storm Lifestyle'™.

What is the tag line of the acquired brand?

The tag line of the acquired brand is 'Disrupt the Norm'™.

Who is the new CEO of NxGen Brands, Inc.?

The new CEO of NxGen Brands, Inc. is Joseph Lawanson.

What is the value of the global sports nutrition market?

The global sports nutrition market is valued at over $81 billion.

How many shares were agreed to be purchased and retired by the company?

The company has agreed to purchase and retire around 14 million shares.

How many shares were issued to the new CEO, Joseph Lawanson?

40 million shares were issued to the new CEO, Joseph Lawanson, with restrictions on their removal until 2026.