Kaival Brands to Commence Trading on Nasdaq
GRANT, Fla., July 27, 2021 /PRNewswire/ -- Kaival Brands Innovations Group, Inc. ("Kaival Brands," the "Company," or "we"), the exclusive global distributor of products manufactured by Bidi Vapor, LLC ("Bidi Vapor"), announced today that the Nasdaq Stock Market LLC has approved the listing of the company's common stock on the Nasdaq Capital Market ("Nasdaq"). The ticker symbol will remain unchanged, as "KAVL" and the stock will begin trading on Nasdaq at the opening of the market on Thursday, July 29, 2021, but will continue trading on the OTCQB until the market close on Wednesday, July 28, 2021.
Niraj Patel, the Company's Founder and Chief Executive Officer, stated, "I am pleased to announce that the Company has been approved to begin trading on Nasdaq. This event represents another monumental milestone in our Company's short history."
"We have worked diligently to achieve this goal and are humbled and grateful on the inclusion to the Nasdaq," said Mr. Patel. "We are more enthusiastic than ever about being able to harness Kaival's exciting potential."
"Step by step, we continue our work to build a world class, global organization – our elevation to Nasdaq represents a very large strategic evolution for the Company," noted Eric Mosser, Chief Operating Officer of Kaival Brands.
Bidi Vapor's founding mission is to provide recreational, non-combusted alternatives for adult cigarette smokers. Both Kaival Brands and Bidi Vapor are vehemently opposed to all illegal underage tobacco use, including ENDS use, by minors. We are committed to preventing youth use of ENDS, responsibly marketing to adult tobacco users 21 and over, working with law abiding retailers and distributors, and complying with all federal and state laws and taxes applicable to the distribution of the BIDI®️ Stick and the BIDI®️ Pouch including, but not limited to, the Family Smoking Prevention and Tobacco Control Act ("TCA"), the Food, Drug and Cosmetic Act ("FDCA"), and the Prevent All Cigarette Trafficking ("PACT") Act. We are further committed to developing science to support the continued marketing of our products as appropriate for the protection of the public health and engaging with state and federal authorities to promote enforcement and the removal of counterfeit, non-compliant and youth-targeting ENDS products from the market.
Mr. Patel, the Company's President and Chief Executive Officer, owns and controls Bidi Vapor. As a result, Bidi Vapor and the Company are considered under common control and Bidi Vapor is considered a related party.
Inflection Partners, LLC and Morgan, Lewis & Bockius LLP are acting as capital markets advisors and legal counsel, respectively, to Kaival Brands in connection with the uplist to Nasdaq.
ABOUT BIDI VAPOR
Based in Melbourne, Florida, Bidi Vapor maintains a commitment to responsible marketing, supporting age-verification standards and sustainability through its BIDI® Cares recycling program. The Company's premiere device, the BIDI® Stick, is a premium product made with medical-grade components, a UL-certified battery, and technology designed to deliver a consistent vaping experience for adults 21 and over. Bidi Vapor is also adamant about strict compliance with all federal, state, and local guidelines and regulations. At Bidi Vapor, innovation is key to our mission, with the BIDI® Stick promoting environmental sustainability, while providing a unique vaping experience to adult smokers.
For more information, visit www.bidivapor.com.
ABOUT KAIVAL BRANDS
Based in Grant, Florida, Kaival Brands is a company focused on growing and incubating innovative and profitable products into mature and dominant brands in their respective markets. Our vision is to develop internally, acquire, own, or exclusively distribute these innovative products and grow each into dominant market-share brands with superior quality and recognizable innovation. Kaival Brands is the exclusive global distributor of all products manufactured by Bidi Vapor.
Learn more about Kaival Brands Innovations Group, Inc., at www.kaivalbrands.com
Forward-Looking Statements
This press release includes statements that constitute "forward-looking statements" within the meaning of federal securities laws, which are statements other than historical facts that frequently use words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "position," "should," "strategy," "target," "will," and similar words. All forward-looking statements speak only as of the date of this press release. Although we believe that the plans, intentions, and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions, or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such statements. Our business may be influenced by many factors that are difficult to predict, involve uncertainties that may materially affect results, and are often beyond our control. Factors that could cause or contribute to such differences include, but are not limited to, the approval of our application for listing on the Nasdaq Capital Market; the duration and scope of the COVID-19 pandemic and impact on the demand for the products we distribute; the actions governments, businesses, and individuals take in response to the pandemic, including mandatory business closures and restrictions on onsite commercial interactions; the impact of the pandemic and actions taken in response to the pandemic on global and regional economies and economic activity; the pace of recovery when the COVID-19 pandemic subsides; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the effects of steps that we could take to reduce operating costs; our inability to generate and sustain profitable sales growth; circumstances or developments that may make us unable to implement or realize anticipated benefits, or that may increase the costs, of our current and planned business initiatives; changes in government regulation or laws that affect our business; significant changes in our relationships with our distributor or sub-distributors; and those factors detailed by us in our public filings with the Securities and Exchange Commission. All forward-looking statements included in this press release are expressly qualified in their entirety by such cautionary statements. Except as required under the federal securities laws and the Securities and Exchange Commission's rules and regulations, we do not have any intention or obligation to update any forward-looking statements publicly, whether as a result of new information, future events, or otherwise.
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SOURCE Kaival Brands
