$BMXC Bemax Inc. Signs Letter of Intent to Acquire

$BMXC Bemax Inc. Signs Letter of Intent to Acquire Kona Gold, LLC

https://www.newsfilecorp.com/release/218831

Dallas, Georgia--(Newsfile Corp. - August 6, 2024) - Bemax Inc. (OTC Pink: BMXC), a private label development company with a focus on disposable diapers and women's hygienic sanitary products, is pleased to announce the signing of a Letter of Intent to acquire Kona Gold, LLC from Kona Gold Beverage, Inc. (OTC Pink: KGKG). This strategic acquisition is set to expand Bemax's portfolio, aligning with their mission to diversify and strengthen their market presence in the CPG industry.

The acquisition of Kona Gold, LLC marks a significant milestone for Bemax, Inc. and is part of its broader strategy to enhance its product offerings and market footprint. Bemax aims to leverage Kona Gold's existing market presence and consumer loyalty to drive growth and innovation, while optimizing the acquired company's supply chain, enhancing product development, and expanding market reach.

"We are excited about the opportunity to bring Kona Gold into the Bemax family," said Taiwo Aimasiko, CEO of Bemax, Inc. "This acquisition is a testament to our ongoing efforts to diversify and strengthen our CPG offerings. Kona Gold's strong brand recognition and innovative products align perfectly with our strategic vision for growth."

The acquisition is subject to customary closing conditions and regulatory approvals. Bemax anticipates completing the transaction in the coming months, with integration efforts commencing immediately thereafter. This acquisition is expected to contribute positively to Bemax's revenue and market position, further enhancing shareholder value.