RICHARDSON, Texas, Sept. 26,
2023 /PRNewswire/ -- NuZee, Inc. (Nasdaq: NUZE), a
leading coffee co-packing and technology company, today announced
an expanded relationship with one of its largest customers,
received a forecast for shipments from the customer, and agreed to
begin supplying additional products to the customer starting in the
first and second quarters of fiscal year 2024. Revenues from this
customer for the first nine months of fiscal year 2023 totaled
approximately $427,000.
The non-binding forecast provided by the customer for 2024 would
result in over $2 million in
incremental fiscal year gross revenue to NuZee, if achieved,
including both existing and new products. The new products
primarily include bagged coffee, which is currently being produced
for this customer by other suppliers. With the expansion of this
relationship, NuZee will become the principal supplier of all
coffee products for this customer.
Masa Higashida, CEO, stated "NuZee anticipates that this is a
major step toward growing and diversifying our business and
attaining profitability. We believe this customer forecast
validates our decision to expand our business beyond the single
serve market where we have already achieved successful acceptance
and distribution."
About NuZee Coffee
NuZee, Inc., (Nasdaq: NUZE), is a
leading co-packing company for single-serve coffee formats that
partners with companies to help them expand within the single-serve
and private label coffee category. Providing end-to-end innovative
and sustainable solutions with the flexibility and capacity for
both small roasters and large global brands, NuZee is
revolutionizing the way single-serve coffee is enjoyed in the U.S.
Through the brand's unique process, NuZee fulfills every aspect of
co-packing needs, from sourcing, roasting and blending, to packing
and packaging. To learn more about NuZee and its innovative
solutions, visit mynuzee.com.
Forward–Looking Statements
This press release
contains forward-looking statements that are made pursuant to the
safe harbor provisions within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. NuZee cautions you
that such statements are simply predictions and actual events or
results may differ materially. These statements reflect NuZee's
current expectations and NuZee does not undertake to update or
revise these forward-looking statements, even if experience or
future changes make it clear that any projected results expressed
or implied in this or other NuZee statements will not be realized.
Further, these statements involve risks and uncertainties, many of
which are beyond NuZee's control, which could cause actual results
to differ materially from the forward-looking statements. These
risks and uncertainties, many of which are beyond our control,
include: NuZee's plan to obtain funding for its operations,
including funding necessary to develop, manufacture and
commercialize its products; the impact to NuZee's business from
COVID 19 global crisis; general market acceptance of and demand for
NuZee's products; and NuZee's commercialization, marketing and
manufacturing capabilities and strategy; for description of
additional factors that may cause NuZee's actual results,
performance or expectations to differ from any forward looking
statements, please review the information set forth in the 'Risk
Factors' and " Management's Discussion and Analysis of Financial
Condition and Results of Operations" sections of the NuZee's public
reports and NuZee's other filings made with the SEC.
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SOURCE NuZee, Inc.