DENVER and VANCOUVER, British Columbia, April 06, 2022 (GLOBE NEWSWIRE) -- Koios Beverage Corp. (CSE: FIT; OTC: FITSF) (the "Company" or "Koios") is pleased to announce that Koios’ entire line of FIT SODA™ products is now sold at all locations of Tony’s Fresh Market, a supermarket chain based out of the greater Chicago area of Illinois.
In Q1 2021, the Company announced multiple placements of its beverage products with regional grocers in markets on the west coast of the United States including Market of Choice in Oregon, Jensen’s in Southern California, and the major natural grocery chain Sprouts Farmers Market, which has a substantial west coast presence, with over one third of its locations (360+ stores across 23 states) in California as well as Washington State. The Company has also recently announced other developments relating to its expansion efforts which started in 2021, including an in-house beverage canning facility and distribution agreements with regional and national wholesale partners.
About Tony’s Fresh Market
Tony’s Fresh Market is a family-owned and operated grocery chain in the Chicagoland area. Tony’s was founded in 1979 by Tony Ingraffia and Domenico Gambino, two Italian immigrants with big dreams and an unprecedented work ethic. The original location on Fullerton Avenue and Central Park, which still exists today, was opened with only five employees: one produce employee, two meat employees, one cashier, and Tony running around the store like a man on a mission. In 2022, the Tony’s Fresh Market family has grown exponentially to 17 locations serviced by over 400 vendors, and a base of thousands of customers served on a daily basis.
For more information about Tony’s Fresh Market, please visit the following web page: https://www.tonysfreshmarket.com/
Koios Chief Executive Officer Chris Miller commented, “We have been building our distribution network for years and we are really starting to see the fruits of our labour. Through our sales team and superior product offering we are seeing our partners add new retailers monthly. Tony’s Fresh Market is one of those retailers and we could not be prouder to be working with such a staple of the Chicagoland community.”
Employee Performance Bonus
The Company also announces that it has issued 1,000,000 Common shares (“Shares”) to Chris Miller, the Chief Executive Officer of the Company (the “Insider”) and 2,000,000 Shares have been issued to two employees in satisfaction of certain consulting agreements dated December 30, 2017, as amended on April 13, 2020 and March 25, 2022 (the “Consulting Agreements”), regarding management and employee performance bonuses. The Shares have been issued at a deemed value of $0.42 per Share.
The disinterested directors of the Company approved the Consulting Agreement with the Insider and employees.
All Shares issued in connection with the Consulting Agreements will be subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws.
The share issuance to the Insider is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company to be issued to the Insider does not exceed 25% of its market capitalization.
On behalf of the Board of Directors of the Company,
KOIOS BEVERAGE CORP.
“Chris Miller”
Chris Miller, CEO, and Director
For further information, please contact:
Gina Burrus
844-255-6467
gina@koiosbeveragecorp.com
THE CANADIAN SECURITIES EXCHANGE (CSE) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
About Koios Beverage Corp.
The Company is an emerging functional beverage company which has an available distribution network of more than 4,400 retail locations across the United States in which to sell its products. Koios has relationships with some of the largest and most reputable distributors in the United States, including Europa Sports, Muscle Foods USA, KeHE, and Wishing-U-Well. Koios uses a proprietary blend of nootropics and natural organic compounds to enhance human productivity without using harmful chemicals or stimulants. Koios products have been shown to enhance focus, concentration, mental capacity, memory retention, cognitive function, alertness, brain capacity and create all day mental clarity. Its ingredients are specifically designed to target brain function by increasing blood flow, oxygen levels and neural connections in the brain.
Koios produces one of the only drinks in the world infused with MCT oil. MCT oil is derived from coconuts and has been shown to help the body burn fat more effectively, create lasting energy from a natural food source, produce ketones in the brain, allowing for greater brain function and clarity, support healthy hormone production and improve immunity. For more information, please visit our website: https://www.koiosbeveragecorp.com.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this news release includes statements regarding: Potential outcomes from the placement of FIT SODA™ beverage products in Tony’s Fresh Market stores in the greater Chicago area of Illinois, the overall performance of the functional beverage market, assumptions that are subject to significant risks and uncertainties, including assumptions that all conditions to the closing of the Acquisition will be satisfied and that the Acquisition will be completed on the terms set forth in the Agreement. The forward-looking information reflects management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; (ii) changes to the growth and size of the functional beverage markets; and (iii) other factors beyond the control of the Company. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The statements in this news release have not been evaluated by Health Canada or the U.S. Food and Drug Administration. As each individual is different, the benefits, if any, of taking the Company’s products will vary from person to person. No claims or guarantees can be made as to the effects of the Company’s products on an individual's health and well-being. The Company’s products are not intended to diagnose, treat, cure, or prevent any disease.
This news release may contain trademarked names of third-party entities (or their respective offerings with trademarked names) typically in reference to (i) relationships had by Koios with such third-party entities as referred to in this release and/or (ii) client/vendor/service provider parties whose relationship with Koios is/are referred to in this release. All rights to such trademarks are reserved by their respective owners or licensees.
