MELBOURNE, Fla., May 17, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Kona Gold Solutions, Inc. (OTC: KGKG) a hemp and CBD lifestyle brand focused on product development in the functional beverage sector, is pleased to announce it has signed an LOI to lease warehouse space in Greer, South Carolina, right outside of Greenville. The warehouse encompasses 30,000 square feet, in which the Company will acquire 15,000 square feet with the option to lease the additional 15,000 square feet within two years. The new warehouse space will operate as Kona Gold’s distribution hub, where all product will be stored and shipped to distributors around the country. The location will also serve as a new Gold Leaf Distribution hub as the Company expands Gold Leaf’s distribution footprint in new markets. Gold Leaf is currently targeting potential distribution acquisitions to expand its territories and product offerings.
Kona Gold moved into its new 5,000 square foot Corporate headquarters one year ago and has already maxed out its capacity to store product at that location as the Company continues its rapid growth. The Florida offices will continue to serve as the Corporate headquarters for the Company.
“With the extension and high demand of our product lines, we are now producing 100 to 150 pallets each month, exceeding what our current warehouse in Florida can accommodate,” stated Robert Clark, CEO of Kona Gold Solutions, Inc. “We made the strategic decision to lease warehouse space in South Carolina, which will become our distribution hub for all Kona Gold products. Shipping lanes are very expensive out of Melbourne, FL, and the expense saved by shipping to our 40 plus distributors from South Carolina, will come close to offsetting the new monthly lease. I am very excited by the Company’s continued growth and success and this move positions us to continue on that upward path.”
Kona Gold recently had a record quarter in revenue in Q1, with over $272,000 in sales. The Company recently posted its projections of $400,000 for Q2 and is on track to beat that estimate, with April sales upwards of $180,000 alone.
For more information regarding Kona Gold Solutions, please visit:
http://www.konagoldhemp.com
https://www.facebook.com/konagoldhemp
https://twitter.com/konagoldhemp
https://www.instagram.com/konagoldhemp/
For more information regarding HighDrate, please visit:
http://www.highdrateme.com
https://www.facebook.com/HighDrateMe/
https://twitter.com/highdrateme
https://www.instagram.com/highdrateme/
Kona Gold Solutions, Inc.:
Kona Gold Solutions, Inc., a Delaware Corporation, has created wholly owned subsidiaries, Kona Gold LLC, HighDrate, LLC, and Gold Leaf Distribution, LLC. Kona Gold, LLC has developed a premium Hemp Infused Energy Drink line; please visit the Company’s website at www.konagoldhemp.com. HighDrate, LLC has developed the beverage industry’s first CBD Energy Water, available in 4 delicious flavors; please visit the Company’s website at www.highdrateme.com. Gold Leaf Distribution, LLC was created to fill the Company’s distribution needs in markets it wants to quickly enter. The Companies are located on the east coast of Florida in Melbourne.
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.
Investor Relations Contact:
investorrelations@konagoldhemp.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a8ce196f-c1ae-4e81-bc31-d1843d7067d6