NxGen Brands, Inc. Proudly Announces the Successful Closing of "Mad House Innovations" Acquisition

Rhea-AI Summary

NxGen Brands, Inc. (NXGB) successfully closes its 'Mad House Innovations' acquisition, with explosive growth in 2023 and $1m in revenues. The company expects exponential growth in 2024, with 35% of sales from direct-to-consumer channels and additional revenue from distribution and retail relationships. The recent licensing of products in Australia and New Zealand is expected to generate significant revenues. CEO Joseph Lawanson is confident in the brand's potential for growth through social media advertising and expansion into brick and mortar stores.

Denver, Colorado--(Newsfile Corp. - January 9, 2024) - NxGen Brands, Inc. (OTC Pink: NXGB) ("NxGen" or the "Company"), (www.nxgenbrands.com) successfully closes its "Mad House Innovations" acquisition. Mad House enjoyed explosive growth in 2023 and we invite the investment community to visit their corporate website to familiarize themselves with their exciting brand: "Mad House Innovations" (www.madhousesupps.com)

Mad House enjoyed $1m in revenues in its initial full year of operations, with growth forecasts from the Company expected to exponentially exceed that in 2024. Revenue share from direct-to-consumer channels represents approximately 35% of total sales, with additional revenue generated from ever-expanding distribution and retail relationships. The company believes that their cutting edge direct-to-consumer business model can be grown significantly throughout 2024 with the addition of marketing capital that NxGen is forecast to spend.

The Company recently announced that Mad House had licensed its products throughout Australia and New Zealand in a deal that is expected to net significant revenues this year as the brand picks up recognition throughout that market with its now emerging and very distinctive branding.

Joseph Lawanson, CEO of NxGen, stated, "Our brand boasts products such as 'High dosed Pre-workout', incredibly effective Amino's, high-end testosterone, hardcore pump product and a great fat burner to provide you with an idea of our exciting product suite. With our now established presence in direct-to-consumer market as well as some of the top brick and mortar stores, we know that we can help the brand grow even more than it already has. We targeted a brand that is now firmly established in an upward trajectory, has a great social media following and can be blown up through social media advertising on Instagram™, TikTok™ and Facebook™. I am very excited to take this brand to the next level and I cannot wait to start sharing our month-over-month revenue growth with shareholders."

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.

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 https://twitter.com/NxGen_Brands

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/193207

FAQ

What acquisition did NxGen Brands, Inc. (NXGB) successfully close?

NxGen Brands, Inc. (NXGB) successfully closed its 'Mad House Innovations' acquisition.

What was the revenue generated by Mad House Innovations in its initial full year of operations?

Mad House Innovations enjoyed $1m in revenues in its initial full year of operations.

What percentage of total sales is represented by revenue share from direct-to-consumer channels?

Approximately 35% of total sales is represented by revenue share from direct-to-consumer channels.

Where can investors find more information about Mad House Innovations?

Investors can visit the corporate website of Mad House Innovations at www.madhousesupps.com.

What recent licensing deal did Mad House Innovations secure?

Mad House Innovations secured a licensing deal to distribute its products throughout Australia and New Zealand.

Who is the CEO of NxGen Brands, Inc. (NXGB) and what is his outlook on the company's growth?

Joseph Lawanson is the CEO of NxGen Brands, Inc. (NXGB) and he is confident in the brand's potential for growth through social media advertising and expansion into brick and mortar stores.