NightFood Uplists to OTCQB, Issues Shareholder Update Regarding New Flavors, Additional Snack Formats, and $5,000,000 Financing
TARRYTOWN, NY -- (Marketwired) -- 05/04/17 -- NightFood Holdings, Inc. (OTCQB: NGTF), a fully reporting "better-for-you" snack company, today issued an update on recent events.
"Over the past few months, we've achieved several corporate objectives that we believe will be instrumental in our ability to grow the company and hit our operational targets in 2017. These include scaling our existing online marketing efforts with a goal of profitability, introduction of new NightFood flavors and formats, and ongoing support and expansion of our retail footprint," stated NightFood CEO Sean Folkson. "Consumers have been asking for additional flavors of our bars. Before the year is out, we hope to not only have new flavors, but be in position to expand our product line, perhaps adding ice cream, or the very popular 'bites' format."
During the quarter ended March 31, 2017, the Company established a $5,000,000 Equity Purchase Agreement with Black Forest Capital, LLC. Subsequent to the end of the quarter, the Company completed its uplisting from the OTC Pink to the OTCQB.
Folkson continued, "The filing of our recent S-1, in conjunction with the Equity Purchase Agreement and the move up to the Quote Board, provides the company access to capital resources necessary for the growth of the NightFood brand and for possible merger and acquisition opportunities. These efforts represent an ongoing commitment to our shareholders, and we look forward to providing more operational and corporate updates in the coming weeks and months as developments continue to unfold."
NightFood (OTCQB: 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. 44% of snack consumption occurs at night, representing a consumer spend of over $1B weekly on nighttime snacks. NightFood creates, manufactures, and distributes products to help consumers satisfy nighttime cravings in a better, healthier, more sleep friendly way. For more information, visit http://ir.nightfood.com and 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.
A.S. Austin Company
Source: NightFood Holdings, Inc.
Released May 4, 2017