Fiji Kava (ASX:FIJ) expands partnership with Network Nutrition – The Market Herald

2022-09-09 22:05:02 By : Mr. Guote China

Health and wellness company Fiji Kava (FIJ) has expanded its strategic partnership with Network Nutrition to include new geographic regions.

The company’s Kavaton extract will now be sold into the nutraceutical and food markets in Australia, New Zealand, Canada, and South-East Asian countries.

In addition, the expansion of the partnership will see the development new beverages to be manufactured in the US.

Fiji Kava said the expansion of the agreement follows strong Kavaton sales performance in the States.

Sales targets from the original agreement will be upheld, with new targets to be mutually agreed for each of the expanded countries.

Marketing contributions will remain the same, with each company providing US$100,000 (A$143,830) per year, while Ryan Gorman’s, Brand Director of Network Nutrition, investment into Fiji Kava will be updated to 7.5 million shares, issued at three cents each.

CEO Dr Anthony Noble said Network Nutrition adds technical and logistical value to its business.

“The expansion of territories to include Australia, Canada and ASEAN is a natural next step, as Fiji Kava will focus on sales and marketing of our branded products, with an increased USA and beverages focus,” he said.

Shares in the company were steady on the market to trade at 2.7 cents at 10:40 am AEST.