Kaival Brands Announces Bulk Order for BIDI Sticks from H.T. Hackney

Single Order Valued at Over $750,000 Shipped in Fiscal Fourth Quarter

GRANT-VALKARIA, Fla., Sept. 14, 2023 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) (“Kaival Brands,” the “Company,” or “we”), the exclusive U.S. distributor of all products manufactured by Bidi Vapor, LLC (“Bidi Vapor”), which are intended for adults 21 and over, today announced that it has shipped a bulk order of BIDI Sticks to H.T. Hackney Co. (“Hackney”), one of the largest wholesale distributors in the United States.

The order is valued at more than $750,000 and was shipped in the fourth quarter of fiscal year 2023. H.T. Hackney had not ordered more than $100,000 of BIDI Stick product in a single order since March 2023.

Eric Mosser, Chief Executive Officer & President of Kaival Brands, said, “This bulk order represents the resumption of activity with one of our key distribution partners and is an important step towards accelerating our product sales. Hackney is a long-term, dedicated distributor that recognizes the important business value of only distributing compliant and legitimate, non-illicit ENDS products and shares our commitment to championing youth-access prevention. Given recent enforcement efforts by the FDA to address the problem of illicit and illegal vaping products, we are optimistic that this bulk order is an indication of a positive trajectory in revenue growth.”

ABOUT H.T. HACKNEY

As one of the largest wholesale distributors in the United States, Hackney services over 20,000 retail customers and stocks over 25,000 products. With strategically located distribution centers, Hackney provides a distribution network easily covering 22 states.

Since 1891, Hackney has achieved its premier market position as a result of providing superior customer service and competitively priced merchandise. Its programs are created around the concept of offering customers the ability to obtain their entire store needs from one reliable source.

ABOUT KAIVAL BRANDS

Based in Grant-Valkaria, Florida, Kaival Brands is a company focused on incubating innovative and profitable adult-focused products into mature and dominant brands, with a current focus on the distribution of electronic nicotine delivery systems (ENDS) also known as “e-cigarettes”. Our business plan is to seek to diversify into distributing other nicotine and non-nicotine delivery system products (including those related to hemp-derived cannabidiol (known as CBD) products). Kaival Brands and Philip Morris Products S.A. (via sublicense from Kaival Brands) are the exclusive global distributors of all products manufactured by Bidi Vapor.