Kona Gold Beverages, Inc. Nears Completion of Reverse Merger with New Candidate

Company Finalizes Sale of Kona Gold LLC

Kona Gold Beverage, Inc. (OTCPK:KGKG) GREER, SOUTH CAROLINA, UNITED STATES, August 12, 2024 /EINPresswire.com/ -- Kona Gold Beverage Inc. (OTC Pink: KGKG), is pleased to announce that it has narrowed its search to the final two candidates for a reverse merger. The company anticipates completing the reverse merger within the next 30 to 45 days. Upon completion, an entirely new management team will be established, steering the company in a fresh and innovative direction that aligns with the best interests of our shareholders. Additionally, upon completion of the reverse merger, the current management team will resign all of their positions with the Company.

The two candidates under consideration for the reverse merger present an unprecedented opportunity for the Company to gain national exposure and access a broader market reach. Each candidate has the potential to significantly expand our shareholder and investor base, introducing a wealth of new opportunities. This merger is poised to enhance shareholder value, creating exciting prospects for both current and future investors.

In addition, the Company is excited to announce it has finalized the sale of Kona Gold, LLC This strategic move is part of our broader plan to divest previous subsidiaries and allow the company to start anew with a reimagined team, direction, and a new name: NuVibe, Inc.

Furthermore, Kona Gold Beverages, Inc. is in the final stages of negotiations to eliminate all existing debt with its largest debt holder without issuing any additional shares. This decisive action is aimed at providing the incoming management team with the strongest possible foundation for success, ensuring a brighter future for the company and its shareholders.

For more information regarding Kona Gold Beverage, please visit: https://konagoldbeverage.com/

About Kona Gold Beverage, Inc.

Kona Gold Beverage, Inc., operates as a holding company for innovative brands. Through its subsidiaries, Kona Gold LLC and Covert LLC, it offers a diverse range of healthy energy drinks and other premium products and distribution services. Kona Gold, LLC, currently under LOI to be sold to Bemax, Inc. (OTCPK: BMXC), offers a premium line of energy drinks caters to health-conscious consumers, alongside its innovative HighDrate D9 Drinks. Covert LLC, operating out of Charlotte, NC, specializes in high-quality products, including Delta-8, THCa, THC-P, and Kratom. Headquartered in Melbourne, Florida, Kona Gold Beverage, Inc. is actively engaged in expanding its market presence through strategic acquisitions.

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 Annual Reports on Form 10-K and its other filings with the Securities and Exchange Commission. 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.

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