Nightfood Schedules Fourth Ice Cream Production Run for June; Product of the Year Winner Building Inventory in Advance of Major Partnership Announcement
Tarrytown, NY, May 01, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Nightfood, Inc. (OTCQB: NGTF), the innovative ice cream company solving America’s $50 billion-dollar nighttime snacking problem, announced today that the company has scheduled a fourth ice cream production run for June of 2019.
The Company already has production scheduled for mid-May, but an additional run has been necessitated by a major distribution partnership agreement the Company signed earlier this week. The June production run will be the fourth production run in the first half of the year for the ice cream startup, and the largest to date.
Management is targeting a total of 240,000 pints produced for the June run. This is more than twice as large as any previous run, and represents over $750,000 in revenue potential. The May and June run combined target over 330,000 pints manufactured and revenue potential well over $1,000,000.
“While we’re not yet ready to announce the partnership, this is a situation where actions speak louder than words,” commented Sean Folkson, Nightfood CEO. “With this June run, we’re scheduled to complete north of 500,000 pints in our first 6 months of production, and I expect the second half of the year to be much busier.”
Nightfood’s PR firm, T3 Shamrock, has secured significant media coverage for the upcoming partnership announcement, about which Folkson previously stated, “I’m projecting that it’s going to bring exponential growth to us for the next several quarters.”
“We’ve been in touch with our vendors and suppliers to ensure we can meet our projected growth for the remainder of this year and into 2020,” disclosed Jim Christensen, Nightfood VP of Ice Cream Sales. “At this point we’re expecting to produce monthly and with ever increasing run volumes.”
Nightfood’s financing source, Eagle Equities, has been providing capital for the inventory build and other expenses in preparation for this new distribution partnership.
About Nightfood Holdings:
Nightfood Holdings, Inc. (OTC: NGTF), owns Nightfood, Inc. and MJ Munchies, Inc.
On Feb 8, 2019, it was announced that Nightfood ice cream won the 2019 Product of the Year award in the ice cream category in a Kantar survey of over 40,000 consumers.
With the overwhelming majority of at-home ice cream consumption occurring in the hours before bed, Nightfood’s sleep-friendly nighttime ice cream, formulated by sleep and nutrition experts, delivers benefits found in no other product on the market.
Market research giant Mintel identified nighttime specific food and beverages as one of their most “compelling and category changing” trends for the coming years
Nightfood ice cream is rolling out nationally, and has recently announced distribution in the popular Meijer supermarket chain throughout the Midwest, with concentration in the metropolitan areas of Chicago, Detroit, Indianapolis, Columbus, and Milwaukee, as well as Lowes Foods, with 78 stores in the Carolinas and Virginia.
To enter the Nightfood® Ice Cream Giveaway, where the Company is giving away a one-year supply of Nightfood ice cream, plus a brand-new freezer to store it in, visit http://nightfood.com
MJ Munchies, Inc. was formed in 2018 as a new, wholly owned subsidiary of Nightfood Holdings, Inc. to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces. The Company intends to market some of these new products under the brand name “Half-Baked”, for which they’ve successfully secured trademark rights.
Questions can be directed to investors@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.
Released May 1, 2019