NightFood (NGTF) Creates Subsidiary, MJ Munchies, Inc., for Marijuana Accelerator Initiatives and Capital Infusion.
TARRYTOWN, NY, Jan. 09, 2018 (GLOBE NEWSWIRE) — NightFood Holdings, Inc. (NGTF) the category leading, better-for-you, sleep-friendly nighttime snack company, announced that development of its new line of CBD infused edibles, and other related projects with Marijuana Accelerator, will be conducted through its new subsidiary, MJ Munchies, Inc.
On November 13, 2017, the Company announced it had engaged Jeffrey Robinson, the Managing Director of Marijuana Accelerator, a division of Players Network, Inc. (PNTV). Robinson was brought on board to assist with development and distribution of a new line of CBD infused snacks.
The parties have since uncovered additional exciting opportunities, inspiring the formation of MJ Munchies in Nevada. Financing for these initiatives will be provided by Marijuana Accelerator.
“With the amazing growth we’re experiencing with the NightFood line, our timing for connecting with Jeff could not have been better,” commented NightFood CEO Sean Folkson. “Marijuana Accelerator is the definition of smart money in this space, and we’re extremely enthusiastic about the various cannabis-related projects we’ll be tackling together.”
The new subsidiary was formed to ensure the distinction between the NightFood brand and the CBD and marijuana related brands, and to facilitate the imminent financing transactions. Management believes each initiative should exist independently, as they’re addressing different consumer segments and needs.
“The process of conceptualizing a line of CBD snacks gave birth to some powerful ideas and related opportunities,” added Jeffrey Robinson, Managing Director of Marijuana Accelerator. “We look forward to working with the NightFood team to bring to market some very unique and remarkable products.”
NightFood (NGTF), operates both NightFood, Inc. and MJ Munchies, Inc.
NightFood, Inc, “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.
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.
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.
MJ Munchies, Inc. was recently formed to exploit opportunities in the CBD and marijuana edibles and related spaces in conjunction with funding and strategic support from Marijuana Accelerator.
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Forward Looking Statements:
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