TARRYTOWN, NY–(Marketwired – Nov 13, 2017) – NightFood Holdings, Inc. (OTC: NGTF) a category leading, sleep-friendly, functional-food snack company, announced today that venture capitalist and bio-tech consultant Jeffrey Robinson has been engaged by the Company to evaluate applications of CBD within the nighttime snack space, as well as other related areas of opportunity.
Mr. Robinson is Managing Director of MJ Accelerator, a wholly owned division of Player's Network, a diversified holding company with controlling interest in companies such as Green Leaf Farms Holdings, LLC. An important part of Green Leaf's business is creating extracts such as CBD, which can be used in edible products for the purpose of delivering specific health benefits.
In addition to his role at MJ Accelerator, Mr. Robinson is also chief executive officer at Internet Bull Report.
“From our first conversation, Jeff and I really connected about the NightFood opportunity and how CBD products could complement our current offering,” explained NightFood CEO Sean Folkson. “We both understand and appreciate the role better sleep can play in helping us all live happier, healthier and more productive lives.”
NightFood is currently evaluating opportunities to introduce snacks with cannabidiol (also known as CBD), strains of which are widely accepted to promote better sleep.
As part of the engagement, IBR will communicate with its audience about NightFood, and Robinson will assist the Company with the next steps of bringing CBD products under development. After these initial stages, it is possible that the parties may decide to work together more closely through the process of product development, ingredient sourcing, production, marketing, and distribution.
“NightFood is solving such an important problem for the consumer. I appreciate Sean's ability to clearly communicate and deliver on his vision for the Company. I believe there are some tremendous opportunities for NightFood with CBD, and look forward to working with the NightFood team as we get started together,” commented Robinson.
NightFood is exploring the CBD space with guidance from Company Advisory Board member Dr. Michael Grandner, Director of the Sleep and Health Research Program at the University of Arizona. Many sleep experts, including Dr. Grandner, are compelled by the research related to CBD and better sleep.
Throughout this process, the Company remains committed accelerating the continued growth of the NightFood brand of mainstream snacks. The nighttime snack problem accounts for more than $1B per week in consumer spend. The Company will continue to market NightFood as a mainstream product line that is free from CBD. A recent report from international market research giant Mintel identified the nighttime nutrition category as one of the key consumer trends for the coming years.
“Nighttime nutrition is on the cusp of a breakout. Introduction of CBD products will not cause us to shift our focus away from the NightFood brand or the mainstream nighttime snack market,” Folkson added. “At the same time, the opportunity to move forward in the CBD space is exciting. It's important to have the right team in place, and we believe this could be the start of a very powerful relationship.”
NightFood (OTC: NGTF), “The Nighttime Snack Company”, is a snack food company dedicated to providing consumers delicious, better-for-you, sleep-friendly choices for evening snacking. According to IRI Worldwide, 44% of snack consumption occurs at night, representing a consumer spend of over $1B weekly on nighttime snacks.
Currently, consumer's most popular choices are cookies, chips, ice cream, and candy. These options are generally understood to be unhealthy, and often contain ingredients and nutritional profiles that can impair sleep quality. NightFood creates, manufactures, and distributes snacks formulated to help consumers satisfy nighttime cravings in a better, healthier, more sleep friendly way.
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.
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