- Company began trading on July 29, 2021, under KAVL symbol
- CEO is “more enthusiastic than ever about being able to harness Kaival’s exciting potential”
- Kaival has started production of the Bidi(TM) Pouch ahead of anticipated September launch
As of market opening on July 29, 2021, common shares of Kaival Brands Innovations Group (NASDAQ: KAVL), the exclusive global distributor of products manufactured by Bidi Vapor LLC, will be available for trade on The Nasdaq Capital Market under the ticker symbol KAVL (https://ibn.fm/2G1DT). The move is a “monumental milestone” for the company, said KAVL founder and CEO Niraj Patel (https://ibn.fm/WAoeb).
“I am pleased to announce that the company has been approved to begin trading on Nasdaq,” said Mr. Patel. “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. We are more enthusiastic than ever about being able to harness Kaival’s exciting potential.”
Bidi Vapor’s flagship product, the Bidi Stick, is a one-time use, closed-system, disposable vaping device that is both tamper resistant and recyclable (https://ibn.fm/Qy0NA). The stick is designed to provide satisfying nicotine levels in each drag. The Bidi Stick is sold largely through national convenience store chains; it is also available online through authorized direct retailers as well as the digital convenience store, GoPuff.
Additionally, the company also has started the production of the Bidi(TM) Pouch ahead of an anticipated September launch (https://ibn.fm/S9OQh). The Bidi(TM) Pouch rollout had been delayed because of COVID-based manufacturing and supply chain constraints, so as a result, the company moved manufacturing in-house. The Bidi Pouch offers a proprietary tobacco-free nicotine formulation contained in an easy-to-go plastic can. The pouch is one of few pouch products in the market formulated without utilizing the Swedish Match formula.
“I am pleased to confirm that we expect to take delivery of the pouch-manufacturing machines to our warehouse the end of August and anticipate beginning production in September with our first run expected to yield up to 500,000 cans,” said Patel. “We are excited to launch distribution of the Bidi Pouch and have been working behind the scenes during COVID-based delays to secure initial distribution.”
As the exclusive distributor of Bidi Vapor, Kaival shares Bidi’s mission to provide recreational, non-combusted alternatives for adult cigarette smokers. In those efforts, both companies adamantly oppose illegal underage tobacco use, including electronic nicotine delivery system (“ENDS”) use, by minors. The companies are committed to responsible marketing and advertising targeting adult tobacco users aged 21 and older. Based on that commitment, Kaival requires all of its direct retail partners to sign a wholesaler and direct retailer agreement that ensures that customers will be asked to provide property ID to prove age eligibility.
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. The company’s vision is to develop internally, acquire or own, and exclusively distribute these profitable brands with recognizable innovation and superior quality.
For more information on Kaival Brands, visit the company’s website at www.KaivalBrands.com.
NOTE TO INVESTORS: The latest news and updates relating to KAVL are available in the company’s newsroom at http://ibn.fm/KAVL
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