Scottsdale, Arizona , Sept. 30, 2021 (GLOBE NEWSWIRE) -- NOHO, Inc. (OTC PINK: DRNK), a Wyoming corporation (the “Company”), announced the following:
The Company intends to raise up to $20 million through a Regulation A Tier II Offering (“Offering”). The proceeds from the offering will be used for brand development and advertising spend as well as general operations. A portion of funding, if available, will also be reserved for acquisition.
After a previous successful transaction with Continuation Capital for the sale of debt with Sibannac, Inc., the firm is expected to issue NOHO a written Indication of Interest in the Offering up to $8 million. The balance of the raise will be allocated between existing shareholders and other institutional and private investors. The Company will be working with its auditor to complete the necessary audits for the Offering. Offering details, including proposed share pricing, will be disclosed upon filing the registration documents.
Product and Operations Update
While Direct to Consumer remains the primary sales model, as part of the product roll-out plan the Company will be focusing resources in Las Vegas and New York for brand awareness and partnership opportunities. The Company has provided a product development agreement to a Las Vegas-based gaming influencer with a substantial social media following, for a beverage additive. NOHO will handling all formulation and product design responsibility. Consummation of the agreement is expected within a week.
The sample product featured on Twitter is a new formulation in the nootropics category. Nootropics are compounds that enhance cognitive performance. This formulation contains only natural, dietary supplements and would not be subject to FDA approval. The Company will be providing more information on this product in the near future.
Warrants
The warrant compensation for the transaction with Sibannac, Inc. is in final stages of determination and will be announced through a joint release upon completion.
More from NOHO – In addition to the After Shot, we have developed a new line of products, all leveraging Hydro-Nano technology, which will be rolling out soon. For additional information and product updates, please follow us at www.nohoshot.com and follow NOHO on Twitter at https://twitter.com/NOHOdrink
Cautionary Note Regarding Forward-Looking Statements.
This press release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Noho, Inc. (the “Company”), its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
Contact:
IR@TheCampusCo.com
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