TARRYTOWN, NY, May 21, 2018 (GLOBE NEWSWIRE) -- NightFood Holdings, Inc. (OTC: NGTF), a brand development company pioneering the projected billion dollar nighttime nutrition category, and developing unique properties and products in the marijuana/cannabis/CBD related snack space, today announced that the first production run of Half-Baked™ branded products has been successfully completed under license in the State of California.
The Half-Baked brand THC-infused cookies each contain 10mg of THC and will retail for approximately $5. As originally announced on April 20, 2018, the product is on track to be available at retail before the end of May.
“This is the birth of a leading national edibles brand in the marijuana space. That’s how we view this initial production run and pilot launch,” commented CEO Sean Folkson. “As more states continue to follow suit and pass marijuana legislation, we see an increase in the value of the opportunity and in the value of the Half-Baked intellectual property.”
The Company is currently engaged in talks with additional prospective Half-Baked licensees in both Colorado and Washington State. Management believes that licensing the trademark to qualified partners in certain specific verticals and geographic locations is the quickest and most impactful way to achieve widespread distribution of Half-Baked products.
“Savvy entrepreneurs understand the critical role powerful branding plays in the land-grab stages of a fast-growing consumer category,” continued Folkson. “In our talks with prospective partners, the value of this brand name is undisputed. We've already received comments from the USPTO regarding our registration, and there remains little doubt that the trademark will be granted in relatively short order.”
Plans are for the Half-Baked brand to include regular snacks that would be legal and immediately eligible for national distribution, as they’d contain no THC or cannabis in any form, in addition to lines of cannabis-containing snacks.
Subsequent to filing the Half-Baked trademark application in January, the Company acquired HalfBaked.com. In the coming months, the Company intends to launch the HalfBaked.com website to support the launch and development of this leading consumer cannabis brand.
An investor conference call is being coordinated for the week of May 28, 2018, during which the Company will provide updates on revenues, new product development, and other recent activities. An announcement will be made prior to the call providing investors all details necessary to attend the call and submit questions for management.
About NightFood:
NightFood (OTC: NGTF) operates both NightFood, Inc. and MJ Munchies, Inc.
NightFood, Inc, “The Nighttime Snack Company”, is a snack food company dedicated to providing consumers delicious, better-for-you, sleep-friendly choices for evening snacking. According to IRI Worldwide, 44% of snack consumption occurs at night, representing a consumer spend of over $1B weekly on nighttime snacks.
Market research giant Mintel recently released a report identifying nighttime specific food and beverages as one of their most “compelling and category changing” trends for 2017 and beyond.
Currently, consumer’s most popular choices are cookies, chips, ice cream, and candy. These options are generally understood to be unhealthy, and often contain ingredients and nutritional profiles that can impair sleep quality. NightFood creates, manufactures, and distributes snacks formulated to help consumers satisfy nighttime cravings in a better, healthier, more sleep friendly way.
MJ Munchies, Inc. was recently formed as a new, wholly owned subsidiary, to exploit legally compliant opportunities in the CBD and marijuana edibles and related spaces. The Company intends to market some of these new products under the Half-Baked™ brand name. As the legal landscape around CBD and cannabis related products continues to change and evolve, MJ Munchies will continue to explore, identify, and capitalize on opportunities clearly defined as legal. The Company believes tremendous opportunities currently exist to launch successful and compliant products in this space, and that such opportunities will continue to grow over time.
For more information, visit http://ir.nightfood.com and www.nightfood.com
Questions can be directed to investors@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.