Kona Gold Beverage, Inc. Announces Effectiveness of Form S-1 Registration Statement
January 04 2021 - 8:00AM
InvestorsHub NewsWire
Melbourne, FL -- January 4, 2021 -- InvestorsHub NewsWire
-- Kona Gold Beverage, Inc.
(OTCQB:
KGKG), a holding company focused on product development in the
hemp and CBD functional beverage sector, is pleased to announce
that the U.S. Securities and Exchange Commission (SEC) has declared
the Company’s registration statement on Form S-1 (File No.
333-239883) effective as of December 31, 2020. Such
declaration does not imply that the SEC has approved or opined on
the merits of the offering or of the
company.
The
Company’s parallel registration statement on Form 8-A also became
effective as of December 31, 2020. The Company’s class of
common stock is now registered under Section 12(g) of the
Securities Exchange Act of 1934 and the Company has now become a
“fully reporting” issuer.
The S-1
registration statement relates to the resale or other disposition by a fund (identified in
the Prospectus) and its transferees of shares of our Common Stock
(up to (i) 105,947,397 shares that underlie our secured convertible
debentures and (ii) 20,000,000 shares that underlie a
warrant. We issued the debentures and granted the warrant
pursuant to our May 14, 2020 Securities Purchase Agreement with the
fund in a private transaction. We will not receive proceeds
from the sales, if any, of the shares by the fund. However,
we will receive proceeds from its exercises, if any, of the
warrant. Upon effectiveness of the S-1 registration, the
Company received the final tranche of the $1,000,000 from the
Securities Purchase Agreement.
The
SEC’s Notice of Effectiveness and details of the debentures and the warrant
may be accessed through the SEC’s website
at www.sec.gov.
About
Kona Gold Beverage, Inc.
Kona
Gold Beverage, Inc., a Delaware corporation, has created
wholly-owned subsidiaries, Kona Gold LLC, HighDrate, LLC, and Gold
Leaf Distribution, LLC. Kona Gold, LLC has developed a
premium Hemp-Infused Energy Drink line; please visit its website
at www.konagoldhemp.com.
HighDrate, LLC has developed the beverage industry’s first
CBD-Infused Energy Water, available in 6 delicious flavors; please
visit its website at www.highdrateme.com.
Gold Leaf Distribution, LLC was created to fill the Company’s
distribution needs in markets that it wants to enter quickly;
please visit its website at www.goldleafdist.com.
Kona Gold and its family of companies are located on the east coast
of Florida in Melbourne and in Greer, South
Carolina.
Safe
Harbor Statement:
The
information posted in this release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. You can identify these statements by use of the
words “may,” “will,” “should,” “plans,” “expects,” “anticipates,”
“continue,” “estimate,” “project,” “intend,” and similar
expressions. The Company may
also make written or oral forward-looking statements in its filings
with the U.S. Securities and Exchange Commission, in press releases
and other written materials, and in oral statements made by its
officers, directors or employees to third parties. There can
be no assurance that such statements will prove to be
accurate. The Company cautions that these forward-looking
statements are further qualified by other factors including, but
not limited to, those set forth in the Company’s Registration
Statement on Form S-1. Forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those projected or anticipated. These risks and
uncertainties include, but are not limited to, general economic and
business conditions, effects of continued geopolitical unrest and
regional conflicts, competition, changes in technology and methods
of marketing, delays in completing various engineering and
manufacturing programs, changes in customer order patterns, changes
in product mix, continued success in technological advances and
delivering technological innovations, shortages in components,
production delays due to performance quality issues with outsourced
components, and various other factors beyond the Company’s control.
The Company does not
undertake any obligation to update publicly or to revise any
statements in this release, whether as a result of new information,
future events, or otherwise.
Investor
Relations Contact:
Robert
Clark
844-714-2224
investorrelations@konagoldhemp.com
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