NightFood® Secures Exclusive Use of Patented Chocamine® for $50+ Billion Nighttime Snack Category
TARRYTOWN, N.Y., April 21, 2016 (GLOBE NEWSWIRE) -- NightFood Holdings, Inc. (OTC:NGTF), has announced that the Company has entered into an agreement with RFI Ingredients, LLC. This agreement grants NightFood exclusive use of RFI’s patented ingredient Chocamine® for use in any snacks formulated and marketed for nighttime consumption.
RFI has agreed to grant NightFood exclusivity in the nascent nighttime nutrition category, which has been estimated by Symphony IRI to represent over $1B/week in consumer spend. NightFood has agreed to set and meet future volume purchase requirements, and to feature Chocamine in NightFood products, as appropriate.
“We view this as an important step forward for the Company,” commented NightFood CEO Sean Folkson. “Chocamine is unique because of its ability to deliver so many of the important and well understood health benefits of chocolate, but without the caffeine, sugar, and fat content in most commercially available chocolate products. We believe that having the exclusive right to use this unique ingredient gives us an advantage.”
“Our goal as a company is to provide snacks that can help people satisfy their night cravings in a better, healthier, more sleep-friendly way. Chocamine is a key ingredient that allows us to fulfill that mission,” added Peter Leighton, NightFood’s CMO. “Utilizing novel natural ingredients such as Chocamine will further enhance and strengthen our position as category leader as this segment continues to grow over the next several years.”
NightFood has recently entered national distribution channels with its first product, the NightFood nutrition bar, in 2 flavors. Long-term plans include additional flavors of the nutrition bars, as well as possible entry into other popular nighttime snack formats such as ice cream, cookies, and salty snacks.
NightFood (OTC:NGTF), “The Nighttime Snack Company”, is a snack food company dedicated to providing consumers delicious, better-for-you choices for evening snacking. NightFood is the first company to create products to address the unique nutritional needs consumers have at night. NightFood creates, manufactures, and distributes products to help consumers satisfy nighttime cravings in a better, healthier, more sleep friendly way. For more information, visit www.nightfood.com
Forward Looking Statements:
This current press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any products sold or cash flow from operations.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Media Contact: Peter Leighton 888-888-6444, x5 Investor Contact: Sean Folkson 888-888-6444, x4
Released April 21, 2016