Nightfood Holdings (OTCQB: NGTF), the award-winning ice cream company addressing America’s $50 billion-dollar nighttime snacking problem, today announced that its Founder and CEO Sean Folkson this week extended his existing lock-up agreement for an additional twelve-month period into 2021. According to the update, the Company filed an 8K on Tuesday, January 21, related to this agreement with Folkson, Nightfood Holdings’ single largest shareholder. “We received questions from a couple of shareholders about the lock-up, so I wanted to address those publicly,” Folkson said in the news release. “This company is my past, my present, and my future, and I’m not looking to sell or otherwise decrease my share position in any way. With our introduction into hotels, and various consumer marketing initiatives that will come to light very soon, I’m expecting a breakout in consumer awareness and product demand. We’re in discussions with global executives at three of the top four global hotel brands and are rolling into new supermarket chains here in Q1 which will be disclosed shortly.”
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About Nightfood Holdings
Nightfood Holdings, Inc. (OTC: NGTF), owns Nightfood, Inc. and MJ Munchies, Inc. After manufacturing their first pint in early 2019, Nightfood secured ice cream distribution in multiple Top-10 supermarket chains in the United States, with concentrations in the Carolinas, Mid-Atlantic, the upper Midwest, and New England. Management has also begun to focus on distribution of Nightfood sleep-friendly ice cream in hotels across the United States, and is currently available in certain locations of chains such as Fairfield Inn & Suites (Marriott), Hilton Garden Inn (Hilton), Staybridge Suites (InterContinental Hotels Group), and Residence Inn (Marriott). On Feb 8, 2019, it was announced that Nightfood ice cream won the 2019 Product of the Year award in the ice cream category in a Kantar survey of over 40,000 consumers. On June 26, 2019, Nightfood was named Best New Ice Cream in the 2019 World Dairy Innovation Awards. Over 80% of Americans snack regularly at night, resulting in an estimated 700M+ nighttime snack occasions weekly, and an annual spend on night snacks of over $50 billion dollars, the majority of it on options that are understood to be both unhealthy, and disruptive to sleep quality. Scientific research indicates these unhealthy nighttime cravings are driven by human biology. Willpower is also weakest at night, contributing to unhealthy night snacking behavior, and the majority of night snackers report feeling both guilty and out-of-control when it comes to their nighttime snacking. Because unhealthy night snacking is biologically driven, and not a trend or a fad, management believes the category of nighttime-specific nutrition, which Nightfood is pioneering, will be a billion-dollar category. MJ Munchies, Inc. was formed in 2018 as a wholly owned subsidiary of Nightfood Holdings, Inc. to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces. The Company is seeking licensing opportunities to market such products under the brand name “Half-Baked”, for which they’ve successfully secured trademark rights. For more information, visit www.Nightfood.com.
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