NightFood Announces E-Commerce Launch and Debt Refinancing
TARRYTOWN, NY -- (Marketwired) -- 09/20/17 -- NightFood Holdings, Inc. (OTCQB: NGTF), a fully reporting "better-for-you" snack company, announced that the Company, along with the online commerce experts at Common Thread Collective (CTC), launched the new NightFood.com website. New Facebook ad campaigns have been created and are now driving traffic to the new website, and video content production is expected to be completed in the coming weeks.
"Now that Common Thread has launched the new website and ad campaigns, we expect significant revenue increases in the coming months," explained Company CEO Sean Folkson. "As a rapidly growing company, we understand the importance of having multiple financing options available to fund this growth."
CTC, whose clients include both established brands and fast-growing startups such as Lululemon, Cardiff Skate Co., Axe Bat, The North Face, and QALO, was hired by the Company to grow direct-to-consumer E-commerce of NightFood products. During Phase One of the campaign, ads and website elements will be tested, and market segments defined. Phase Two of the campaign calls for significant scaling of ad spend and the introduction of celebrity influencers.
To date, Common Thread has connected its client brands with superstar athletes like Super Bowl MVP Von Miller, 2-time American League MVP Mike Trout, 5-time major champion Phil Mickelson, 11-time World Surf League champion Kelly Slater, former UFC Middleweight Champion Chris Weidman, NFL Pro-Bowl QB Russell Wilson, Motocross and NASCAR legend Ricky Carmichael, and American League All-Star Mookie Betts.
In preparation of the E-commerce launch, and to ensure additional options with regard to ongoing operating and growth capital, the Company recently restructured a significant portion of existing Company debt.
As part of this recent financial restructuring, NightFood also successfully completed the authorization of additional shares of common stock intended to be used as possible collateral for ongoing operational financing. The Company will file an 8-K regarding these matters later today.
As of the date of this release, NightFood has 30,299,167 shares issued and outstanding, with a public float of 5,865,085. More than two thirds of NGTF shares remain held by the original founders of the Company.
In addition to using shares of common stock as reserve collateral for loans, the Company could use stock for additional financing activities, and to pursue other beneficial business expansion opportunities that might arise.
"We've always had a focus on protecting our share structure and our investors. This is evidenced by our share count and float, and this will always remain a priority," continued Folkson. "We believe the facilities and relationships we have in place now will take us from a development stage company to a growth stage company with substantial revenue and market validation over the next two to three quarters."
NightFood (OTCQB: NGTF), "The Nighttime Snack Company", is a snack food company dedicated to providing consumers delicious, better-for-you, sleep-friendly choices for evening snacking. 44% of snack consumption occurs at night, representing a consumer spend of over $1B weekly on nighttime snacks. NightFood creates, manufactures, and distributes snacks which 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
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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.
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Source: NightFood Holdings, Inc.
Released September 20, 2017