Tarrytown, NY, Feb. 11, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Nightfood Holdings Inc. (OTCQB: NGTF), a pioneering consumer goods brand development company that owns both Nightfood, Inc. and MJ Munchies Inc., received notification on Friday, February 8, 2019, that shares of its common stock have been approved for trading on the OTC Quote Board (OTCQB).
Last week, the Company announced that wholly-owned subsidiary MJ Munchies had signed a Letter of Intent for a national cannabis edibles licensing agreement with Global Consortium, a manufacturer of over 140 SKU’s in the CBD and THC infused edibles space. Global reported over $600,000 in sales in the quarter ending September 30, 2018 and sold over $2,000,000 in CBD products for 2018.
In addition, on Friday, February 8, 2018, it was announced that Nightfood ice cream won the 2019 Product of the Year award for best new ice cream (as voted on by over 40,000 American consumers), on the eve of its national launch.
“We believe that being on the QB, instead of the Pinks, has advantages for the Company, as well as for existing and potential investors,” stated Nightfood CEO Sean Folkson.
Many believe that companies listed on the OTCQB can enjoy greater liquidity due to increased transparency, more stringent reporting standards, management certification and more strict compliance requirements.
According to OTC Markets, “as a verified market with efficient access to U.S. investors, OTCQB helps companies build shareholder value with a goal of enhancing liquidity and achieving fair valuation. Investors get an exchange-comparable information experience, with convenient trading through their preferred broker or financial advisor, transparent pricing with real-time quotes, and trusted disclosure.”
Management filed the required paperwork earlier in the week, and was notified after market close on Friday that NGTF would open on the Quote Board Monday morning, February 11, 2019.
About Nightfood Holdings:
Nightfood Holdings, Inc. (OTC: NGTF), owns Nightfood, Inc. and MJ Munchies, Inc.
On Feb 8, 2019, it was announced that Nightfood ice cream won the 2019 Product of the Year award in the ice cream category in a Kantar survey of over 40,000 consumers.
With the overwhelming majority of at-home ice cream consumption occurring in the hours before bed, Nightfood’s sleep-friendly nighttime ice cream, formulated by sleep and nutrition experts, delivers benefits found in no other product on the market.
Market research giant Mintel recently released a report identifying nighttime specific food and beverages as one of their most “compelling and category changing” trends for 2017 and beyond.
To enter the Nightfood® Ice Cream Giveaway, where the Company is giving away a one-year supply of Nightfood ice cream, plus a brand-new freezer to store it in, visit http://nightfoodicecream.com – each entrant gets a coupon for a free pint of ice cream (some purchase may be required).
MJ Munchies, Inc. was formed in 2018 as a new, wholly owned subsidiary of Nightfood Holdings, Inc. to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces. The Company intends to market some of these new products under the brand name “Half-Baked”. Munchies is currently preparing a patent application with the USPTO for a proprietary ingredient to be used in Half-Baked snacks that Management believes will give it a unique and defensible competitive advantage against other recreational edible brands. The Company believes tremendous opportunities currently exist to launch successful and legally compliant products in this space, and that such opportunities will continue to grow over time.
For more information, visit http://ir.Nightfood.com and http://Nightfood.com
Questions can be directed to investors@Nightfood.com
Forward Looking Statements:
This current press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any products sold or cash flow from operations.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.