Kona Gold Solutions Inc OTCMKTS: KGKG Cancels Preferred Shares and Lowers Number of Authorized Shares

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Kona Gold Solutions Inc OTCMKTS: KGKG 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. HighDrate, LLC has developed the beverage industry’s first CBD Energy Water, available in 4 delicious flavors. Gold Leaf Distribution, LLC was created to fill the Company’s distribution needs in markets it wants to quickly enter. The Companies are located on the east coast of Florida in Melbourne.

Kona Gold Solutions Inc OTCMKTS: KGKG On April 18, 2019 announce that the Company has accepted the retirement of 650,000 shares of Preferred Series B stock. Robert Clark, who was the sole owner of Preferred Series B stock, received per his employment agreement, has agreed to retire his shares at no expense to the Company. The Company also has announced it will be amending the Articles of Incorporation to lower the authorized shares from 1,000,000,000 to 900,000,000 and to cancel Preferred Series B shares designation.

“The Company has experienced exponential growth over the last six to eight months, and with the great position the Company currently is in, we felt it was imperative to tighten up our share structure, which should add shareholder value and confidence,” stated Robert Clark, CEO of Kona Gold Solutions, Inc. “With no outstanding Preferred B shares remaining, the Company will be amending our Articles of Incorporation to remove that preferred designation. We will also be reducing the Authorized Shares by one hundred million shares to nine hundred million.”

Mentioned in the Company’s previous press release, the Company has seen substantial growth over the last 6 months with its current product offering and had a record first quarter, posting revenues over $260,000, which it will be releasing in its quarterly disclosure later this month. With repeat orders from some of the Company’s larger accounts, such as Huck’s and Kentucky Eagle, new orders from the majority of the Company’s other distribution partners, the launch of new flavors, and the release of Kona Gold’s all new Storm CBD High Alkaline Water, the Company has forecasted revenues of $400,000 for the second quarter of 2019. These projections make the Company profitable in the second quarter of 2019.

Kona Gold Solutions Inc OTCMKTS: KGKG On April 15, 2019, announce the Company has begun production of its new Hemp Energy Drink and CBD Energy Water flavors. The Company’s Kona Gold Hemp Energy Drink line extension will include the flavors Bubble Gum and Candy Apple. The line extension for the Company’s HighDrate CBD Energy Waters will include Blue Island Punch and Sour Apple. Kona Gold has been working over the last several months with its world class formulators to create new flavors that will complement and play off of the Company’s already successful flavor line up and will resonate with its consumers. The new flavors are slated to hit the market in late May.

The Company has seen substantial growth over the last 6 months with its current product offering and had a record first quarter, posting revenues over $260,000, which it will be releasing in it’s quarterly disclosure later this month. With repeat orders from some of the Company’s larger accounts, such as Huck’s and Kentucky Eagle, new orders from the majority of the Company’s other distribution partners, the launch of new flavors, and the release of Kona Gold’s all new Storm CBD High Alkaline Water, the Company has forecasted revenues of $400,000 for the second quarter of 2019. These projections make the Company profitable in the second quarter of 2019.

“We are excited to be announcing the addition of these exciting flavors for both our Kona Gold and HighDrate product lines,” stated Robert Clark, CEO of Kona Gold Solutions, Inc. “Our Company has been growing at a blistering pace and these added flavors will not only give our brands a larger presence, but will add substantial revenue at launch. This quarter we will see our beverage product offering grow from our current 11 SKUs to 17 SKUs, which is a substantial expansion.”

Chris Selinger, V.P. of Sales of Kona Gold Solutions, Inc. stated, “Our mission at Kona Gold is the dedication to bringing the highest quality and best tasting Hemp and CBD products to market. Our current Kona Gold and HighDrate consumers will be blown away by these unique flavors. We anticipate our distribution partners to be quick to add these new flavors to their current product portfolio.”

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