Scottsdale, Arizona, Dec. 02, 2021 (GLOBE NEWSWIRE) -- NOHO, Inc. (OTC PINK: DRNK), a Wyoming corporation (the “Company”), announced the following:
Our Company has seen an amazing resurgence in 2021. In a mere eight months, we have brought the financial reporting current, reduced the debt, engaged a top-tier branding agency, developed a new product and created a fully functioning direct to consumer website with new products on the way. And we haven’t even started yet!
The Company has successfully reduced a majority of its total debt in 2021, extinguishing approximately one million dollars of derivative liabilities. Additional debt reduction has continued in Q4.
The After Shot is available on our revamped site created by Eric Stoll and Lifetime Branding. While available for sale across the country, the formal launch of the site will happen in Q1 2022 behind a broad-based marketing campaign including targeting consumers online and through social media.
The Company is proud to announce a product development agreement with Las Vegas-based gaming influencer, D Lucky. On Instagram as DLuckySlots, he commands an audience of 4.1M followers and growing, focused on strategies to gain advantages in playing casino slot machines. As described on the corporate site:
D LUCKY is regarded as one of the most elite slot machine players in the world after setting numerous records for consistent payouts in Casino Slot Play. Now D LUCKY brings his knowledge and expertise to the public, so anyone who is interested in playing slot machines can do so with the inside tips and strategies from the most successful slot machine player in the world.
In addition to the After Shot, new products have already been formulated and packaging design is completed. The first addition to the line will be a nootropics shot, an all-natural formulation designed to provide focus. The Company is seeking to add at least three new products to the NOHO line throughout 2022.
In June of this year, NOHO acquired the RāD8 brand from Sibannac, Inc. (OTC Pink: SNNC), which was created initially around Delta-8 THC. Following a recent reversal from its initial position, the DEA has said that the popular cannabinoid falls under the purview of the 2018 Farm Bill and should be treated as CBD. There are many opportunities for consumer and white-label manufacturing sales that the Company will be pursuing into next year. Currently, the Company can manufacture Delta-8 gummies and vape cartridges in its Scottsdale-based manufacturing facility now shared with Sibannac.
Delta-8 THC is a hemp-based cannabinoid derived from compliant hemp under the 2018 Farm Bill. Delta 8, while a THC derivative, does not fall under the Controlled Substances Act as Marijuana, as long as it is derived from hemp containing less than .3% Delta-9 THC.
The Company will also be executing an awareness campaign beginning in the new year that will feature digital ads as well as physical billboard placement, in addition to interviews with the management team. For new investors, please see our last shareholder call: Event recording.
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 www.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.
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