Connect with us

Business

Kona Gold Solutions Inc. (OTCMKTS:KGKG) To Acquire Flo Beverages And Develop New Energy Drink In 2020

Published

on

Kona Gold Solutions Inc. (OTCMKTS:KGKG) is planning to produce a new organic CBD beverage this year after announcing the signing of a Letter of Intent (LOI) to acquire Flo Beverages.

Kona Gold to acquire Florida-based Flo Beverages

Flo Beverages is a Florida-based company located in Longwood, and Kona Gold intends to conduct due diligence on the beverage company in the coming days, and it is likely to finalize the acquisition in 30 days. Since its inception in 2015, Flo Beverage entered the energy drink space with the SoFlo organic drinks.

The company operates a 3,000 sq. ft. the facility in Longwood that is a USDA certified organic co-packing plant. Recently the company launched an all organic Ketogenic Energy Drink, Likuid, that is available in three flavors. They distribute the drink in Florida as well as Puerto Rico.

Kona Gold CEO Robert Clark indicated that he was excited that they have signed the LOI to purchase Flo Beverages. He indicated Flo is an exciting company with a great range of products. The company offers Kona Gold a great product line in the Ketogenic Energy Drink, LiKuid.

Flo Beverages presents Kona Gold opportunity to develop an energy drink

Equally, the CEO indicated that the acquisition will be bringing on board the great team that operates the USDA certified facility that has massive experience in the formulation of tasty beverages. Flo, which runs its product line this will bring exceptional opportunities to Kona Gold in co-packing for small-to-medium companies as well as the production of limited seasonal runs.

According to Clark, Kona Gold is planning to add a new product to its hemp and CBD lifestyle product line this year. The company has set sights in developing an all-organic CBD energy drink, and the acquisition of Flo Beverages will be vital in the process as Kona Gold will have in-house resources to leverage.  The CEO expressed his pleasure regarding the opportunities that Flo brings to Kona Gold and the resource that Kona Gold has to build the distribution footprint of LiKuid.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.

FEATURED STORIES

Business2 weeks ago

Stem Holdings Inc (OTCMKTS:STMH) Reports A Growth Of 960% In Q3 2020: Unveils TJGardens Branded Tinctures

Post Views: 352 Stem Holdings Inc (OTCMKTS:STMH) posted an increase of 960% YoY to $6.7 million in Q3 2020. It...

Business2 weeks ago

Indiva Ltd (OTCMKTS:NDVAF) Signs Three Provincial Agreements: Expands Distribution Network To Eight Provinces: Reports A Robust Growth Of 1273.7% In Q2 2020 Revenues

Post Views: 379 Indiva Ltd (OTCMKTS:NDVAF) posted a robust growth of 1273.7% YoY to CAD 2.826 million in revenues in...

Business2 weeks ago

4Front Ventures Corp (OTCMKTS:FFNTF) Receives Approval From CCC For Mission Dispensary and Cultivation Facilities In Worcester: Will Commence Adult-Use Cannabis Sales

Post Views: 345 CCC (Cannabis Control Commission) in Massachusetts approved cultivation and processing facilities and Mission Dispensary of 4Front Ventures...

Business3 weeks ago

Pure Sunfarms, A Joint Venture Of Village Farms International Inc (NASDAQ:VFF), Ships Bottled Oil Products TO British Columbia

Post Views: 483 Pure Sunfarms, which is a Village Farms International Inc (NASDAQ:VFF) JV, commenced shipment of Cannabis 2.0 products...

INDUSTRIAL HEMP3 weeks ago

Health Canada Grants Cannabis 2.0 License To Abba Medix Corp, An Auxiliary Of Canada House Cannabis Group Inc (OTCMKTS:SARSF)

Post Views: 384 Abba Medix Corp., a wholly-owned subsidiary of Canada House Cannabis Group Inc (OTCMKTS:SARSF), received an amended cannabis...

Business3 weeks ago

SugarBud Craft Growers Corp (OTCMKTS:RLLRF) Receives An Amended License From Health Canada To Sell Dried Cannabis Products

Post Views: 434 SugarBud Craft Growers Corp (OTCMKTS:RLLRF) obtained an amended sales license from Health Canada. It allows the company...