NewAge, Inc. announces that its common stock has ceased trading on Nasdaq – Yahoo Finance | Jewelry Dukan

NewAge, Inc.

NewAge, Inc.

SALT LAKE CITY, Sept. 8, 2022 (GLOBE NEWSWIRE) — NewAge, Inc. (the “Company”) announced today that its common shares have been suspended from trading on the Nasdaq exchange because it voluntarily filed for relief under Chapter 11 of the U.S. bankruptcy statutes on August 30, 2022 and the Company is not in is able to comply with the listing requirements of the Nasdaq Stock Market. As previously announced, the Company does not intend to appeal the suspension and anticipated delisting of its shares from the Nasdaq Stock Market. Effective September 8, 2022, the Company’s common shares are expected to trade on the OTC market under the trading symbol “NBEVQ”. Investors can find information about the OTC market and its various levels at www.otcmarkets.com.

warning notice
The Company cautions that trading in the Company’s common stock during the pending Chapter 11 filing is highly speculative and involves significant risk. The trading prices for the Company’s common stock bear little or no relation to the actual redemption, if any, by the holders of the Company’s common stock in the Chapter 11 case. The Company can make no representations that its common stock will be traded in the OTC market or continue, whether broker-dealers will continue to provide public listings for the Company’s common stock in the OTC market, whether the trading volume of the Company’s common stock will be sufficient to provide an efficient trading market, or whether the listings for the Company’s common stock will also be continued on the OTC market in the future. The Company’s common stock may be or become illiquid.

About NewAge, Inc.
NewAge is a purpose-driven company dedicated to inspiring the planet to Live Healthy™. Based in Utah, the company markets a portfolio of organic and wholesome products worldwide primarily through a direct-to-consumer (D2C) route-to-market distribution system in more than 50 countries. The company competes in three major category platforms, including health and wellness, inner and outer beauty, and nutrition performance and weight management – through a network of exclusive independent brand partners armed with the world’s leading social selling tools and technologies. For more information about the company, visit NewAgeGroup.com.

Forward-Looking Statements
This press release contains forward-looking statements that are based on management’s beliefs and assumptions and on information currently available to management of the Company. Forward-looking statements include statements related to the Company’s common stock traded on the OTC market. Forward-looking statements include statements that are not historical facts and are based on words such as “anticipate”, “believe”, “may”, “estimate”, “expect”, “intend”, “may”, “plan”, “potential”, ” predict”, “forecast”, “aim”, “should”, “will”, “would” or similar expressions and the negative of these terms. The Company’s actual results and timing of events could differ materially from those anticipated in such forward-looking statements due to certain risks and uncertainties. These risks and uncertainties include, among other things, risks related to the Chapter 11 Cases, including the Company’s ability to obtain bankruptcy court approval with respect to filings in the Chapter 11 Cases, the effects of the Chapter 11 cases affecting the company, its subsidiaries and the interests of various constituents, the bankruptcy court rulings in the Chapter 11 cases and the outcome of the Chapter 11 cases generally, the length of time the company has been in the Chapter 11 cases, the risks associated with third party filings in the Chapter 11 Cases, the potential adverse impact of the Chapter 11 Cases on the Company’s liquidity or results of operations, and increased legal and other professional costs involved in carrying out the reorganization of the company are required; the conditions to which proprietary financing is subject and the risk that such conditions may not be met for various reasons, including reasons beyond the Company’s control; consequences related to the acceleration of the company’s debt obligations; the trading price and volatility of the Company’s common stock and the ability of the Company’s common stock to be publicly traded, among other risks and uncertainties, and the factors more fully described in the Company’s most recent Annual Report on Form 10-K and others at the Securities and Exchange Commission (“SEC”) filings, each of which can be found on the SEC’s website, www.sec.gov, or on the Investor Relations section of the Company’s website, investors.newagegroup.com. Except as required by law, the Company undertakes no obligation to update these forward-looking statements or to update the reasons that cause actual results to differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Accordingly, undue reliance should not be placed on forward-looking statements.

Investor and media inquiries:
IR@newage.com

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