ROCKLEDGE, Fla., Oct. 05, 2016 (GLOBE NEWSWIRE) -- Kona Gold Solutions, Inc. (OTC Pink:KGKG), a hemp lifestyle brand of exclusivity and status, is pleased to announce that the Company has signed a letter of intent (LOI) with a publicly traded company to sell all of the membership interest of Elev8 Hemp LLC.
Both companies will proceed in good faith to engage in negotiations in an attempt to agree upon and execute the Agreement encompassing the salient points of this LOI. Both companies have agreed to perform all necessary due diligence during the Thirty (30) business day period following the execution of the LOI.
Elev8 Hemp LLC is a newly formed company, that plans to bring to market a new premium hemp seed coffee blend. Sipp Industries will be exclusively providing to Elev8 Hemp "proprietary hemp ingredients" for the development of their new hemp coffee brand. Elev8 Hemp Seed Coffee will be the result of the blending of roasted, organic hemp seeds with roasted, organic, Fair-trade Mexican coffee beans that produces a premium, delicious, full-flavored hemp seed coffee that does not leave a bitter after-taste.
"We are extremely excited about the potential sale of Elev8," stated Robert Clark, CEO of Kona Gold Solutions, Inc. “Elev8 has a tremendous business plan in place and is ready to implement that plan for rapid growth. As part of the transaction, our shareholders will be receiving a dividend from the shares of the purchasing company used to purchase Elev8. Furthermore, this should help Elev8 obtain the funding necessary for its projected growth. The purchasing company has wished to remain anonymous until the final purchase agreement, but we expect to update our shareholders within the next 14 business days in regards to more specific details.”
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Kona Gold Solutions, Inc.:
Kona Gold Solutions, Inc. has developed a premier Hemp Infused Energy Drink. The Company announced it has moved its Corporate Headquarters to Rockledge, FL. Kona’s new warehouse and office space gives the Company the space needed to expand rapidly.
The Company has created Kona Gold LLC, a Delaware Corporation, to begin developing its Hemp Product line. Kona Gold will begin developing Hemp Energy Drinks, Energy Patches, Hemp Apparel, Hemp Shampoo as well as a Hydroponics division; please visit the Company’s new website to view updates and new products www.konagoldhemp.com
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. 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.
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Source:Kona Gold Solutions, Inc.