Kona Gold Solutions Inc (OTCMKTS: KGKG) stock is on the move after Kona Gold announced it has entered into a distribution agreement with Kentucky Eagle, Inc. The partnership between Kona Gold and Kentucky Eagle is the Company’s largest distribution deal to date. Kentucky Eagle will distribute the Company’s popular Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters within the great state of Kentucky. Kentucky Eagle has been servicing Central Kentucky for 71 years and operates out of a new 190,000 square foot facility that is the first Anheuser-Busch LEED Certified distributor in the Nation.
The two companies are currently working on scheduling a rollout in February/March. Kona Gold will fly its team out to Kentucky Eagle for a product kick off to support a successful launch. CEO Robert Clark said “This is a huge step for the Company as we grow our distribution channels and I couldn’t be prouder of our Sales Team. The partnership with Kentucky Eagle sets Kona Gold apart from our competitors and will create many other opportunities for our Company.”
Kona Gold Solutions Inc is a premier lifestyle company that specializes in developing hemp and CBD products in the functional beverage and fitness markets. Focusing on the hemp energy drink, CBD energy water, and CBD water markets, Kona Gold Solutions, Inc. has positioned itself as a premium lifestyle brand.
Kona Gold is led by entrepreneur Robert Clark operating out of the Company’s new state of the art corporate office consisting of 4,500 square feet of office and warehouse space located at 746 North DriveSuite Melbourne, Florida. KGKG holds 2,476,722 shares of Elev8 Brands Inc. (OTC: VATE) Preferred Series D Shares which convert at 60:1 = 148.6M shares of VATE Common. With VATE trading at .044 the value of KGKG’s holdings is $6.5 million.
In 2017 Kona Gold through its wholly owned subsidiary HighDrate LLC started producing its CBD Infused Flavored Energy Waters, High-drate, under its premium Kona Gold brand. The Company produces four delicious flavors: Tropical Coconut, Georgia Peach, Kiwi-Strawberry, and Watermelon. HighDrate LLC is a wholly-owned subsidiary of Kona Gold Solutions, Inc. which focuses on the development and marketing of CBD infused energy waters available in a variety of great tasting flavors. HighDrate LLC has single handedly created a new product niche with its healthy CBD energy waters geared towards the fitness and wellness markets.
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In December Kona Gold announced it is having its strongest quarter to date with revenues currently up 400% from the previous quarter. Contributing to the increase in revenue are the Company’s online sales from Amazon and product websites, which are up over 1,300% year-over-year. The Company’s increase in sales comes from the launching of its highly anticipated new Kona Gold flavors, Cotton Candy and Cherry Vanilla, which are both zero calories, have no sugar, are naturally flavored, and contain organic hemp.
CEO Robert Clark announced:
“Our current quarter is exceeding our expectations and the response from our distributors and customers in regards to our new Cotton Candy and Cherry Vanilla flavors has been amazing. dWe started off the quarter very strong in October and will be closing out the quarter with December being a record month with over $70,000 in sales to date. We have many exciting things in the pipeline as our sales team is working to finalize deals with several distribution partners and will be announcing a new convenience store partner that will be putting the Company’s products in over 100 stores. We anticipate the Company’s revenue to continue on its current revenue growth path through the end of 2018 and into 2019. Our sales team will be meeting at Kona Gold’s corporate office the second week of January to forecast growth and sales projections for 2019. The Company will be hiring a controller to take over the books and finalize the audit next month.”
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Currently trading at a $27 million market valuation KGKG has small but growing revenues, minimal assets and is debt free. KGKG is an exciting story developing in small caps; the Company’s CBD Infused Flavored Energy Waters are doing great in a booming CBD market and the stock has quickly developed a loyal shareholder base that swears this one goes higher. We will be updating on KGKG when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with KGKG.
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Disclosure: we hold no position in KGKG either long or short and we have not been compensated for this article.