Kona Gold Solutions Inc (OTCMKTS:KGKG) shares surged 62.22% on Tuesday to $0.00730 then retreated 36.99% to $0.00460 in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.03. The company has a market cap of $11,200.00 at 2.50 million shares outstanding.
In a press release, Kona Gold Solutions Inc announced that it has entered a distribution agreement with American Wholesale Distributor based out of Pelham, Alabama. American Wholesale Distributors was established in 1978 and offers wholesale products to convenience stores, grocery stores, pharmacies, restaurants, ballparks, and gift shops within 120 miles radius of Birmingham, Alabama. The company is also working on other distributions in different states.
“It is with great excitement to be announcing our new partnership with American Wholesale Distributors,” stated Robert Clark, CEO of Kona Gold Solutions Inc. “We have been diligently seeking a distribution partner in Alabama and we found the perfect fit in AWD, who also shares the same excitement for Kona Golds products as we do. AWD will be placing Kona Gold products in locations they provide services to within a 120-mile radius of Birmingham AL in addition to providing fulfillment services to the locations that currently carry Kona Gold Hemp Energy drinks. With a successful rollout, starting this week, Kona Gold Hemp Energy Drinks will be in several hundred locations in Alabama!”
Prior to this, Kona Gold Solutions Inc announced that it is seeking a distribution partner in the area of Alabaster and that they are currently in talks with several distributors to manage retail locations.
“We had a fantastic opportunity in the Alabaster, AL and took advantage of it to bring our hemp energy drink to market in that area,” noted Clark. “We are very excited about expanding into the state of Alabama and our hemp infused energy drinks are selling well. We are actively seeking a distributor in that area to manage the current stores we are in and to expand our product offering into additional retail locations.”
Formerly known as Union Equity Inc, Kona Gold Solutions Inc is a lifestyle hemp company. It intends to develop, design and market products in the energy drink, energy shot, energy patch and apparel markets. Currently, the company is in the process of developing a hemp infused product line.
Through its subsidiary, Kona Gold LLC, the company intends to develop Hemp Energy Drinks, Energy Patches, Hemp Apparel and Hemp Shampoo. Kona Gold, LLC focuses on marketing products, which include Kona Gold 8.4oz energy drink, Kona Gold 2.0oz energy shot, Kona Gold energy patches, Kona Gold apparel such as include t-shirts and hats, and Kona Gold single plant hydroponic system. Its product line includes Energy Drinks and Energy Shots and it offers two varieties of Kona Gold energy drinks, such as regular and sugar-free, as well as three flavors of Kona Gold energy shots, such as berry, grape and orange.