NightFood issues shareholder update regarding new flavors, additional snack formats, $5M financing
NightFood Holdings, Inc., a fully reporting "better-for-you" snack company, issued an update on recent events.
"Over the past few months, we've achieved several corporate objectives that we believe will be instrumental in our ability to grow the company and hit our operational targets in 2017. These include scaling our existing online marketing efforts with a goal of profitability, introduction of new NightFood flavors and formats, and ongoing support and expansion of our retail footprint," stated NightFood CEO Sean Folkson. "Consumers have been asking for additional flavors of our bars. Before the year is out, we hope to not only have new flavors, but be in position to expand our product line, perhaps adding ice cream, or the very popular 'bites' format."
During the quarter ended March 31, 2017, the Company established a $5,000,000 Equity Purchase Agreement with Black Forest Capital, LLC. Subsequent to the end of the quarter, the Company completed its uplisting from the OTC Pink to the OTCQB.
Folkson continued, "The filing of our recent S-1, in conjunction with the Equity Purchase Agreement and the move up to the Quote Board, provides the company access to capital resources necessary for the growth of the NightFood brand and for possible merger and acquisition opportunities. These efforts represent an ongoing commitment to our shareholders, and we look forward to providing more operational and corporate updates in the coming weeks and months as developments continue to unfold."