Strategic Move Solidifies Bemax's Position in the Consumer-Packaged Goods Market

Dallas, Georgia--(Newsfile Corp. - August 12, 2024) - Bemax Inc. (OTC Pink: BMXC), a private label development company with a focus on disposable diapers and women's hygienic sanitary products, is proud to announce the successful completion of its acquisition of Kona Gold, LLC from Kona Gold Beverage, Inc. (OTC Pink: KGKG). This acquisition marks a pivotal moment in Bemax's growth strategy, significantly enhancing its product offerings and expanding its market reach within the Consumer-Packaged Goods (CPG) sector.

"We are thrilled to officially welcome Kona Gold, LLC to the Bemax family," said Taiwo Aimasiko, CEO of Bemax, Inc. "This acquisition aligns perfectly with our vision to diversify and strengthen our market presence. By integrating Kona Gold's innovative product line and strong brand loyalty with Bemax's robust operational capabilities, we are well-positioned to drive significant growth and deliver enhanced value to our shareholders."

As part of the acquisition agreement, Bemax Inc. will issue Two Hundred Thousand Dollars ($200,000) in Restricted Common Shares of Bemax, Inc. (OTC Pink: BMXC) to be paid to Kona Gold Beverage, Inc. (OTC Pink: KGKG) shareholders in the form of a dividend. This arrangement reflects Bemax's commitment to providing tangible value to the shareholders of both companies, ensuring a mutually beneficial outcome from this transaction.

The acquisition of Kona Gold, LLC allows Bemax Inc. to expand its footprint within the Consumer Packaged Goods (CPG) sector. By bringing Kona Gold's established beverage brand into its portfolio, Bemax is set to diversify its offerings and tap into new consumer markets. The company will leverage Kona Gold's market presence to enhance product development and explore fresh opportunities within the CPG space. This acquisition strengthens Bemax's position and supports its growth in the competitive CPG landscape.

With this acquisition now complete, Bemax is poised to accelerate its growth trajectory and deliver on its commitment to providing high-quality products to consumers. The company looks forward to building on the strong foundation established by Kona Gold and driving continued success in the years to come.

About Bemax Inc.

Bemax Inc. is a forward-thinking company dedicated to delivering top-quality disposable diapers and women's hygienic sanitary products. With a focus on innovation and customer satisfaction, Bemax continues to expand its product offerings and distribution network, aiming to exceed the expectations of its growing customer base.

About Kona Gold Beverage, Inc.

Kona Gold Beverage, Inc., operates as a holding company for innovative brands. Through its subsidiaries, Kona Gold LLC, Covert LLC, and Surge Distribution, LLC, it offers a diverse range of healthy energy drinks and other premium products and distribution services. Kona Gold's premium line of energy drinks caters to health-conscious consumers, alongside its innovative HighDrate D9 Drinks. Covert LLC, operating out of Charlotte, NC, specializes in high-quality products, including Delta-8, THCa, THC-P, and Kratom. Surge Distribution, LLC, operating out of Melbourne, FL, is a diverse distribution company offering beverage and CPG products to a variety of retail locations from big box grocery stores to small family-owned specialty shops. Headquartered in Melbourne, Florida, Kona Gold Beverage, Inc. is actively engaged in expanding its market presence through strategic acquisitions.

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