NEWAGE DEADLINE ALERT

Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against NewAge, Inc. and Encourages Investors to Contact the Firm

Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against NewAge, Inc. (“NewAge” or the “Company”) (OTC: NBEVQ) in the United States District Court of Colorado on behalf of all persons and entities who purchased or otherwise acquired NewAge securities between January 18, 2018 and October 18, 2022, both dates inclusive (the “Class Period”). Investors have until February 6, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

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On January 10, 2022, NewAge filed an 8-K announcing that the Board and Defendant Willis agreed that he would “resign as [CEO], Director, and employee of the Company, effective immediately. The Company and Mr. Willis will determine the terms of his departure at a future date. [. . .] Ed Brennan will provide additional guidance and direction to the senior management team [. . .].” In response, the stock went down 6% on each of the following trading days, from an opening price of $0.98 to a closing price of $0.9251 on January 11 and from an opening price of $0.935 to a closing price of $0.88 on January 12.

On May 17, 2022, the Company announced after trading hours had concluded that it had received a late notice from Nasdaq regarding the filing of its Form 10-Q. The next day, the stock went down by 8%, from an opening price of $0.391 per share to $0.3591 per share.

On June 8, 2022, after trading had concluded for the day, the Company announced that it was undertaking a review of “strategic alternatives,” including “available financing alternatives, a potential financial restructuring, merger, sale or other strategic transaction.” The next day, NewAge’s share price went down 12%, from $0.42 per share to $0.3703. Following that, the Company’s share price closed down 11% (the price per share dropped from $0.3605 to $0.3201 on the day), 5% (the price per share dropped from ($0.3112 per share to $0.2902 on the day), and 3% (the price per share dropped from $0.298 per share to $0.29 on the day), respectively.

On August 30, 2022, NewAge announced that it was filing for Chapter 11 bankruptcy relief. Further, On August 31, 2022, The Wall Street Journal released an article called “New Age Says Cost of Internal Probe Contributed to Bankruptcy,” which highlighted the fact that in its Chapter 11 disclosure, NewAge admitted that it had conducted an expensive internal investigation into Ariix for suspected violations of the FCPA. The next day, the stock closed down 39%, from an opening price of $0.2016 per share to $0.1222 per share. It further plummeted on September 2, 2022, closing down 27%, from an opening of $0.20 per share to $0.1482.