NxGen Brands, Inc. Expands Position in Nutritional Supplement Market with Multi-Million Dollar Growth Forecast

Rhea-AI Summary

NxGen Brands, Inc. (NXGB) announces the addition of a second brand to the LOI, leading to an increased revenue gain from the recent acquisition. Un-audited revenues for 2023 are expected to exceed $1.25m, with a new contract in the Pacific region contributing to a significant rise in non-US revenues. The company estimates a potential 25% increase in revenues with the return of their own-brand protein in Q1. CEO Joseph Lawanson foresees a combined contribution of over $2m to the company's topline in 2024, with the recent acquisition of 'Storm Lifestyle Brands' expected to add a further $1.25m. The company has also completed its first roll-up by acquiring 'Storm Lifestyle Brands' and has agreed to purchase and retire around 14m shares from former officers. However, a further 40 million shares issued to the new CEO are ineligible for restriction removal until 2026.

Denver, Colorado--(Newsfile Corp. - December 13, 2023) - NxGen Brands, Inc. (OTC Pink: NXGB) ("NxGen" or the "Company"), (www.nxgenbrands.com) announces a second brand has been added to the LOI making the recent acquisition an increased revenue gain from the same deal terms.

These brands together look set to show un-audited revenues for 2023 exceeding $1.25m with a brand-new contract with the Pacific region contract coming online earlier this month which will see non-US revenues skyrocket in a region which traditionally out-sells other markets with similar demographics. Their own-brand protein is scheduled to come back on stream in Q1 meaning a significant bump in revenues, which the company estimates could be as high as a 25% increase in revenues now that protein market prices have stabilized internationally and consumers move back to their protein powder products buying habits.

Joseph Lawanson, CEO of NxGen, stated, "we believe that these two brands together could contribute in excess of $2m to our topline in 2024, with Storm adding a further $1.25m with targeted advertising spend. Such revenues, in real terms and in growth terms, have not been seen from NxGen previously and I am excited to be able to begin the journey of increasing shareholder value through 2024 and beyond. This is just the start of the journey."

NxGen recently announced that it had already completed on its first roll-up by acquiring 'Storm Lifestyle Brands' (www.stormlifestylebrands.com) which was launched in October 2021 to great fanfare at Olympia and has since gone from strength to strength with its Pre-Workout, Burn, Revive and Focus products. This new acquisition, the Company believes, will fit in to a different but equally fast-growing demographic and will, therefore, be a superb fit.

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. At the date of this release, 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 building build 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.

Corporate Contact:
ceo@nxgenbrands.com
www.nxgenbrands.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/190753

FAQ

What is the latest announcement from NxGen Brands, Inc. (NXGB)?

NxGen Brands, Inc. (NXGB) has announced the addition of a second brand to the LOI, leading to an increased revenue gain from the recent acquisition.

What are the estimated revenues for 2023 for NxGen Brands, Inc. (NXGB)?

Un-audited revenues for 2023 are expected to exceed $1.25m for NxGen Brands, Inc. (NXGB).

What is the potential revenue increase estimated by NxGen Brands, Inc. (NXGB) in 2024?

NxGen Brands, Inc. (NXGB) estimates a potential 25% increase in revenues in 2024, with a combined contribution of over $2m to the company's topline.

What recent acquisition has NxGen Brands, Inc. (NXGB) completed?

NxGen Brands, Inc. (NXGB) has completed its first roll-up by acquiring 'Storm Lifestyle Brands'.

What is the share capital and share retirement plan of NxGen Brands, Inc. (NXGB)?

At the date of the release, the Issued Share Capital is 63,079,566, and the company has agreed to purchase and retire around 14m shares from former officers.