Nightfood Holdings and Houdini Group Announce Exclusive License Agreement for Half-Baked Trademark

TARRYTOWN, NY, Sept. 21, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - MJ Munchies, Inc., a subsidiary of Nightfood Holdings, Inc. (OTCQB: NGTF), and Houdini Group, Inc., a subsidiary of Integrated Cannabis Solutions, Inc. (OTC: IGPK), today announced that they have entered into an exclusive license agreement for the Half-Baked trademark. Under the terms of the agreement, Houdini Group will be granted the exclusive right to manufacture and distribute marijuana and CBD-infused products under the Half-Baked brand.

Both companies believe that having the right brand name is essential for success in the rapidly growing and highly competitive marijuana market, where brands remain frustrated by restrictive advertising policies.
“We believe the Half-Baked name is appealing to consumers,” said IGPK CEO Gene Caiazzo. “Using this brand name is expected to give our products a valuable competitive advantage in the marketplace, significantly accelerating revenue growth in 2024 and for years to come. We are excited to work with MJ Munchies to build a leading brand on the national stage.”

“We’re looking forward to Houdini bringing the Half-Baked brand to life in major markets across the country,” added MJ Munchies CEO Sean Folkson.  “Houdini is already delivering rapid growth in revenue and infrastructure.  Profit opportunities can be significant when a vertically integrated manufacturer is able also to launch a powerful retail brand.”

The agreement calls for Houdini to launch a minimum of four new products under the Half-Baked brand in multiple states by September 30, 2024, with minimum gross sales targets upon which licensing fees would be paid of $2,000,000 in year one, $5,000,000 in year two, and $12,000,000 in year three.  Houdini reported sales of $393,190 during the second quarter of 2023.

The agreement also allows for a distribution of proceeds between MJ Munchies and Houdini should the Half-Baked brand be sold to a third party.  Nightfood Holdings and Houdini are exploring additional opportunities for collaboration, including joint ventures.

About Nightfood Holdings, Inc.:

Nightfood Holdings, Inc. (OTC: NGTF), owns Nightfood, Inc. and MJ Munchies, Inc. 

What you eat before bed matters.

Nightfood, Inc. is pioneering the category of sleep-friendly nighttime snacks.

Over 80% of Americans snack regularly at night, resulting in an estimated 700 million nighttime snack occasions weekly, and an annual spend on night snacks of over $50 billion.  The most popular choices are ice cream, cookies, chips, and candy.  Recent research confirms such snacks, in addition to being generally unhealthy, can impair sleep, partly due to excess fat, sugar, and calories consumed before bed.