NxGen Brands, Inc. Continues Explosive Entrance into Nutritional Supplement Market with Second Acquisition
NXGB Continues To Deliver on Strategic Vision
DENVER, Dec. 7, 2023 /PRNewswire/ -- NxGen Brands, Inc. (OTCMKTS: NXGB) ("NxGen" or the "Company"), (www.nxgenbrands.com) signs letter of intent to acquire one of America's fastest growing Nutritional Supplement Brands.
The agreement calls for NxGen to draw up final documents which are expected to be completed and executed by both parties during December 2023, with closing happening before the end of the year. The acquisition target will likely have unaudited revenues of around $1m at closing for 2023 and is profitable. This will be NxGen's second acquisition of the year.
Joseph Lawanson, CEO of NxGen, stated "…this brand is different from STORM Lifestyles in that it targets a totally different audience that are some of the largest buyers in our industry. It has massive potential for revenues and is already profitable. The look of the brand is so distinctive, which will allow us to maximize the marketing effort and you will absolutely see that as soon as we announce the full details. The marketing opportunities and partnerships with this brand are huge. It is like no other on the market and will stand out on shelves as well as in the explosive digital marketing campaigns we will launch throughout 2024. It boasts products such as 'High dosed Pre-workout', incredibly effective Amino's, high end testosterone, hardcore pump product and a great fat burner to name but a few. With a great presence in direct-to-consumer market as well as some of the top brick and mortar stores, we know that we can help the brand grow even more than it already has. We targeted a brand that is on a very fast upward trend, has a great social media following and can be blown up through social media advertising on Instagram™, TikTok™ and Facebook™. I am very excited to take this brand to the next level and I cannot wait to share it with shareholders."
NxGen recently announced that it had already completed on its first roll-up by acquiring 'Storm Lifestyle Brands' (www.stormlifestylebrands.com) which was launched in October 2021 to great fanfare at Olympia and has since gone from strength to strength with its Pre-Workout, Burn, Revive and Focus products. This new acquisition, the Company believes, will fit in to a different but equally fast-growing demographic and will, therefore, be a superb fit.
The company has already agreed with former officers to purchase and retire around 14m shares. A further 40 million shares issued to new CEO Joseph Lawanson are ineligible to have any restrictions removed until 2026. Only 5.6 million are currently held at DTC in the free trading float and the Issued Share Capital is 63,079,566.
About NxGen Brands, Inc.
NxGen Holdings, Inc. is a publicly traded company under the symbol NXGB. The Company building build a profitable Nutritional Supplements company, comprising of several brands. www.nxgenbrands.com
This press release may contain forward-looking statements, including information about management's view of NxGen Brands, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of NxGen, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on NxGen's future results. The forward-looking statements included in this press release are made only as of the date hereof. NxGen cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, NxGen undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by NxGen.