WARNING: This product contains nicotine.
Nicotine is an addictive chemical.

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 country’s leading wholesale distributors.​

The order is worth more than $750,000 and will be delivered in the fourth quarter of fiscal year 2023. Since March 2023, H.T. Hackney had not ordered more than $100,000 of BIDI® Stick product in a single order.​

“This bulk order represents the resumption of activity with one of our key distribution partners and is an important step toward accelerating our product sales,” said Eric Mosser, Chief Executive Officer and President of Kaival Brands. Hackney is a long-term, loyal distributor who understands the critical business benefit of exclusively distributing compliant and genuine, non-illicit ENDS products and shares our dedication to youth-access prevention. Given the FDA’s recent enforcement actions to address the problem of illicit and illegal vaping goods, we are optimistic that this bulk order is an indicator of a favorable revenue growth trajectory.”

ABOUT H.T. HACKNEY​

Hackney serves over 20,000 retail customers and stocks over 25,000 goods as one of the top wholesale distributors in the United States. Hackney’s distribution network readily covers 22 states because of strategically positioned distribution locations.​

Since 1891, Hackney has held the number one market position by offering exceptional customer service and competitively priced items. Its programs are built on the idea of providing clients with the ability to get all of their store needs from a single trustworthy 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.​

Learn more about Kaival Brands at https://ir.kaivalbrands.com/overview/default.aspx.

ABOUT KAIVAL LABS​

Based in Grant-Valkaria, Florida, Kaival Labs is a 100% wholly-owned subsidiary of Kaival Brands focused on developing new branded and white-label products and services in the vaporizer and inhalation technology sectors. Kaival Labs’ current patent portfolio consists of 12 existing and 46 pending with novel technologies across extrusion dose control, product preservation, tracking and tracing usage, multiple modalities and child safety. The patents and patent applications cover territories including the United States, Australia, Canada, China, the European Patent Organisation, Israel, Japan, Mexico, New Zealand and South Korea. The portfolio also includes a fully-functional proprietary mobile device software application that is used in conjunction with certain patents in the portfolio.​

Learn more about Kaival Labs at https://kaivallabs.com.
​

ABOUT BIDI VAPOR​

Based in Melbourne, Florida, Bidi Vapor maintains a commitment to responsible, adult-focused marketing, supporting age-verification standards and sustainability through its BIDI® Cares recycling program. Bidi Vapor’s premier device, the BIDI® Stick, is a premium product made with high-quality components, a UL-certified battery and technology designed to deliver a consistent vaping experience for adult smokers 21 and over. Bidi Vapor is also adamant about strict compliance with all federal, state and local guidelines and regulations. At Bidi Vapor, innovation is key to its mission, with the BIDI® Stick promoting environmental sustainability, while providing a unique vaping experience to adult smokers.​

Nirajkumar Patel, the Company’s Chief Science and Regulatory Officer and director, owns and controls Bidi Vapor. As a result, Bidi Vapor is considered a related party of the Company.​

For more information, visit www.bidivapor.com.

Cautionary Note Regarding Forward-Looking Statements​

This press release and the statements of the Company’s management and partners included herein and related to the subject matter herein includes statements that constitute “forward-looking statements” (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), which are statements other than historical facts. You can identify forward-looking statements by words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “position,” “should,” “strategy,” “target,” “will,” and similar words. All forward-looking statements speak only as of the date of this press release. Although we believe that the plans, intentions, and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions, or expectations will be achieved. Therefore, actual outcomes and results (including, without limitation, the results of the Company’s sales and marketing efforts with H.T. Hackney as described herein and the impact of such efforts on the Company’s future results of operations) could materially and adversely differ from what is expressed, implied, or forecasted in such statements. Our business may be influenced by many factors that are difficult to predict, involve uncertainties that may materially affect results, and are often beyond our control. Factors that could cause or contribute to such differences include, but are not limited to: (i) future actions by the FDA in response to the 11th Circuit Court’s decision that could impact our business and prospects, (ii) the outcome of FDA’s scientific review of Bidi Vapor’s pending FDA Premarket Tobacco Product Applications, (iii) the results of international marketing and sales efforts by Philip Morris International, the Company’s international distribution partner, (iv) how quickly domestic and international markets adopt our products, (v) the scope of future FDA enforcement of regulations in the ENDS industry, (vi) the FDA’s approach to the regulation of synthetic nicotine and its impact on our business, (vii) potential federal and state flavor bans and other restrictions on ENDS products, (viii) the duration and scope of the COVID-19 pandemic and impact on the demand for the products we distribute, (ix) general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth, (x) the effects of steps that we could take to reduce operating costs, (xi) our inability to generate and sustain profitable sales growth, including sales growth in U.S. and international markets, (xii) circumstances or developments that may make us unable to implement or realize anticipated benefits, or that may increase the costs, of our current and planned business initiatives (including, without limitation, the development of vaporization intellectual property we acquired in late April 2023), (xiii) significant changes in our relationships with our distributors or sub-distributors such as H.T. Hackney and (xiv) other factors detailed by us in our public filings with the Securities and Exchange Commission, including the disclosures under the heading “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended October 31, 2022, filed with the Securities and Exchange Commission on January 27, 2023 as well as all of our subsequent SEC filings, all of which are accessible at www.sec.gov. All forward-looking statements included in this press release are expressly qualified in their entirety by such cautionary statements. Except as required under the federal securities laws and the Securities and Exchange Commission’s rules and regulations, we do not have any intention or obligation to update any forward-looking statements publicly, whether as a result of new information, future events, or otherwise.


Kaival Brands Investor Relations:​Brett Maas, Managing Partner​Hayden IR​
(646) 536-7331​
brett@haydenir.com
​
Kaival Brands Media & Press Relations:​
Stephen Sheriff, COO and Investor Relations Officer​
Kaival Brands ​
(646) 572-7086
​investors@kaivalbrands.com​

​

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Contact Information

Consumer:

support@bidivapor.com

Wholesale:

sales@bidivapor.com

401 N Wickham Rd — STE 130, Melbourne, Florida 32935

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Bidi Vapor stands firm against the access of the BIDI® Stick to minors. The sale of tobacco products to minors is prohibited by law.

Warning: This product contains nicotine. Nicotine is an addictive chemical.

California Proposition 65 Warning: This product can expose you to chemicals including formaldehyde, which is known to the State of California to cause cancer, and nicotine, which is known to the State of California to cause birth defects or other reproductive harm.

You may find more crucial warning information about the BIDI® Stick here.

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ACH Authorization and Agreement (“Authorization”)

I represent and warrant that I am the authorized owner, or an authorized agent of the authorized owner, on the checking or savings account provided by me to Kaival Brands Innovations Group, Inc. (“Kaival”) through www.bidivapor.com or its affiliate web pages (the “Site”). By clicking the “Accept” button below, I hereby authorize Kaival to withdraw the purchase price(s) specified in the applicable order confirmation(s) issued and duly executed by Kaival (“Confirmation(s)”), on the payment date(s) specified in the applicable Confirmation(s), by electronic funds transfer from the checking or savings account provided by me to the Site (the “Authorized Account”), in order to make the Requisite Payments to Kaival in exchange for products sold by or through the Site.

“Requisite Payments” means the amounts I am required to pay under the applicable sales agreement by and between myself (or my associated entity) and Kaival (the “Sales Agreement”) and the associated Confirmation(s), including any additional charges I owe, such as delivery, tax, or late fees. If the applicable due date falls on a weekend or holiday, my payment will be processed on the next business day.

I agree that this Authorization shall remain in effect, and Kaival may retain my Authorized Account information, until I am notified by Kaival that they are terminating my Requisite Payments, or until three (3) business days following the date on which I notify Kaival, in writing, that I wish to revoke this Authorization. I acknowledge and agree that revocation of my authorization does not cause a revocation or alteration of the applicable Sales Agreement or Confirmation.

I understand that Kaival may restrict or terminate payment under this Authorization, in the event that I am in default of the applicable Sales Agreement, and/or if there are insufficient funds in my checking or savings account, among other reasons.

I acknowledge that I have received a copy of this Authorization.

In the event an error is made in any ACH transfer, I hereby authorize Kaival to make any necessary transfers, to or from my Authorized Account, in order to correct the error.

I acknowledge and agree that electronic funds transfers will be made to the financial institution and account number supplied by me through the Site, and I acknowledge and agree that any errors in the provision of such information to the Site shall be solely my responsibility. I agree to indemnify, defend, and hold harmless Kaival in connection with any damages arising from such errors.

I acknowledge and agree that Kaival shall not be responsible for any aspect of the payment transaction following the point when my designated financial institution receives or has control of the payment transaction. Any loss or damage resulting from the loss of data or funds following my designated financial institution’s receipt of payment (or control of payment) shall be solely my responsibility, or the responsibility of my designated financial institution.

I acknowledge that Kaival shall be responsible for employing commercially reasonable means to safeguard my data, but shall not be responsible for any virus, data breach, theft, glitch, error, force majeure, or related event affecting my Authorized Account information, so long as such commercially reasonable means are employed.

This Authorization shall be governed by the Sales Agreement then in effect between me (or my affiliated entity) and Kaival. In the absence of an effective Sales Agreement, this Authorization shall be governed by the terms and conditions of sale set forth on the Site at the time of my signature below.

IN NO EVENT SHALL KAIVAL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING LOST PROFITS (EVEN IF ADVISED OF THE POSSIBILITY THEREOF) ARISING IN ANY WAY OUT OF THIS AUTHORIZATION OR THE TRANSACTIONS CONTEMPLATED HEREIN, ABSENT KAIVAL’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.

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