Business
New Generation Consumer Group Announces $500,000 Financing and Distribution
New Generation Consumer Group Announces $500,000 Financing and Distribution.
About this update from New Generation Consumer Group, Inc.
[{"type":"text","content":"\n \n \n New Generation Consumer Group Announces $500,000 Financing and Distribution\n \n \nNew Generation Consumer Group Announces $500,000 Financing and Distribution\n \n WHITTIER, CA--(Marketwired - Feb 8, 2016) - New Generation Consumer Group (OTC PINK: NGCG) announces today their signed agreement with Vican Foods Inc. Vican Foods Inc. is an established Canadian food-trade company who specializes in providing quality food products to buyers around the world through comprehensive logistics and transportation services. Vican Foods Inc. and New Generation Consumer Group have come to a very exciting agreement which provides the company with distribution in addition to a credit line investment to be used for product development up to $500,000.00 (five hundred thousand dollars).\n The investment brings New Generation Consumer Group a total funding source plus distribution channels that will help the company aggressively expand its sales and marketing efforts as well as broaden and accelerate product development and placement.\n With growing PO size, the anticipation of quadruple orders by 2nd quarter in addition to a Hemp Refreshers run, NGCG will build on this momentum and use the financing to continue expanding its product lines, accelerate product growth, sales and marketing resources, and continue evaluating strategic opportunities to grow the company.\n Phil Longoria, New Generation Consumer Group's COO, states, \"This is well-timed with the rapidly increasing demand for more products, and for the company to increase production size before the warmer months. Since this is a cash for cash agreement with Vican Foods, there is no need for any kind of toxic financing, nor is the agreement based off share issuance.\" Mr. Longoria further stated, \"This is a major solution as we continue to clean up our current share structure; we felt it was important for the company to do business based off our quality and integrity, rather than diluting shares. Our plan is to continue to return shares to treasury, as we have already returned almost 100,000,000 to date which will reflect on 1st quarter financials. Vican Foods Inc., is a solution that extends our reach as we focus on US distribution for our brands, and by doing this will drive business results that shareholders and investors can steadily profit from.\"\n Adam Krupp, Managing Partn...