Tarrytown, NY – January 20, 2022 – Nightfood Holdings, Inc. (OTCQB: NGTF), the sleep-friendly snack company addressing the estimated $50 billion Americans spend annually on nighttime snacking, today announced that Company founder and CEO Sean Folkson has extended the existing lock-up of his shares for an additional twelve months.
Nightfood Sleep-Friendly Snacks are Expected to Launch Nationally into American Hotel Market This Quarter
In November, Nightfood Won the Real California Milk Excelerator Competition, Securing the $150,000 Top Prize to Support Hotel Launch of Nightfood Ice Cream Sandwiches
Pepsi, Unilever, and Nestle Have Shown Interest in Healthier Night Snacking and Sleep-Friendly Nutrition
Nightfood’s CEO & Largest Shareholder Has Locked Up 100% of His Shares in Exchange for Warrants With a Strike Price of $.30
Folkson has not disposed of any of his shares in Nightfood in any way since November 2015. He has increased his position during that time by converting $120,000 he had previously loaned the company into 400,000 shares through the exercise of warrants at a $.30 strike price, as well as having purchased shares in the open market.
Folkson’s current Lock-Up Agreement is expiring on February 4, 2022. The successor agreement extends the lock-up for an additional twelve months, through February 4, 2023. In exchange for the extension of the lock-up, Folkson was issued warrants for NGTF common stock with a strike price of $.30 and a term of one year. Should Folkson not exercise the warrants on or prior to February 4, 2023, they will expire.
“We’re very excited about our national hotel rollout, projected to start this quarter,” commented Folkson. “We believe having sleep-friendly Nightfood snacks in the lobby shops of thousands of major hotels across the country would raise consumer awareness of the critical connection between nutrition and sleep. This would provide invaluable exposure, validation, and endorsement for our brand, and, most importantly, for the category we’re pioneering.”
Based on the results of the recently completed successful retail pilot test of Nightfood’s ice cream pints in lobby shop freezers, which was initiated by a leading international hotel brand, the Company executed a strategic pivot. Management has chosen to prioritize the higher-margin hotel vertical, while temporarily deprioritizing the more expensive and crowded supermarket space during this current phase of growth.
“We’ve identified over 40 hotel chains representing approximately 20,000 properties that we are targeting for Nightfood distribution in the U.S. alone,” added Folkson. “That provides a path to grow faster and more profitably than through supermarket channels. Our goal is for sleep-friendly Nightfood snacks to become hospitality industry standard during the next 12-18 months. This projects to create a strong and profitable company, creating the foundation for additional supermarket growth in 2023 and beyond.”
The Company is developing additional snack formats to take greater advantage of anticipated hospitality-related distribution opportunities. Management believes the opportunity exists to introduce sleep-friendly versions of many of the most popular hotel snack formats, including ice cream, cookies, chips, candy, and nutrition bars.
HotelBusiness.com Publishes Nightfood (Stock Symbol: NGTF) Vision of the Future of Hotel Snacking. NGTF Wins $150,000 in Prize Money for Accelerating National Hotel Rollout
Dec. 06, 2021 Nightfood Holdings, Inc. (OTCQB: NGTF), the better-for-you snack company addressing the $50 billion Americans spend annually on night snacks, announced today that HotelBusiness.com published an article authored by Nightfood CEO Sean Folkson about the opportunity and obligation for hotels to make sleep-friendly snacks available to their guests via their lobby pantry shops.
HotelBusiness.com and Hotel Business magazine provide industry-leading content, insight, and analysis on important and trending topics and issues within the hospitality industry. Top industry decision-makers, including hotel brand executives, hotel ownership groups, property management companies, and purchasing executives, turn to Hotel Business to stay informed of hotel industry developments.
In the article, titled “The Rise of the Hotel Snack Wars” Folkson outlines the opportunity available to hotels to extend their sleep-supporting efforts out of the guestroom and into the lobby snack shop by providing better, healthier, more sleep-friendly night snacks for guests. Folkson compares the launch of NGTF’s sleep-friendly ice cream into its first major hotel chain with Westin’s introduction of the Heavenly Bed in 1999.
Westin’s Heavenly Bed launch famously triggered “The Hotel Bed Wars” a multi-billion-dollar industry-wide race for hotel brands to deliver optimized sleep experiences for their guests, which played out from 1999 through 2006. During that seven-year upheaval, upgraded hotel beds quickly went from an unexpected surprise to a guest expectation, forcing late adopter brands to upgrade their bedding or be left behind.
“I believe hotel operators can and should expect sleep-friendly snacking to sweep through the industry more rapidly than the seven-year bedding revolution brought on by The Bed Wars,” states Folkson. “Research shows unhealthy night snacking impacts both sleep and productivity. We view the inclusion of sleep-friendly snack options to be an obligation on the part of hotel leaders. As a result, we expect the Nightfood line of snacks to rapidly become hotel industry standard.”
Nightfood ice cream pints are scheduled to launch into national hotel distribution this winter following a successful pilot test completed earlier this year. Additional snack formats are in development, also for potential hotel distribution. This includes the Nightfood ice cream sandwich, which last month won the Real California Milk Excelerator grand prize of $150,000 in marketing support for its hotel launch.
NGTF, through its partnership with iDEAL Hospitality Management, is in active discussions with executives and decision-makers from multiple additional hotel brands and group purchasing organizations. The team is targeting distribution in 7,500 hotel locations by summer of 2022 on the way to full industry-wide distribution in more than 20,000 hotels across the country.
New Survey Reveals 79% of Americans Experience Increased Nighttime Cravings with the End of Daylight Saving Time
On November 1st NGTF announced a new national survey reveals widespread anxieties about the impact of Daylight Saving Time and fewer daylight hours on our diets and well-being.
A whopping 83% of Americans say that they sometimes or always feel out of control about their nighttime snacking. What’s more, 79% of people report that their nighttime cravings for snacks increase when it gets dark earlier in the evening.
The survey, conducted on behalf of sleep-friendly ice cream maker NGTF, adds to a growing list of evidence that the end of Daylight Saving Time has profound implications for our eating habits.
“Being aware that these cravings occur below the conscious level can help consumers better manage their impact,” said Sean Folkson, NGTF CEO and Founder. “We’ve long known that less sunlight exposure leads to a drop in serotonin levels and can negatively impact mood and sleep. It’s not surprising that fewer daylight hours could wreak havoc on people’s snacking behavior before bed.”
Unlike the unhealthy and sleep disruptive snacks so many people are defaulting to when eating at night, Nightfood ice cream is formulated by sleep and nutrition experts to provide the nutritional foundation for better quality sleep. Nightfood ice cream contains more sleep-supporting tryptophan, vitamin B6, calcium, magnesium, zinc, prebiotic fiber, and casein protein, with less sugar and fat, and a lower glycemic profile. Nightfood does not contain any sleep drugs or medications.
Nightfood Announces Successful Hotel Test, Engages iDEAL Hospitality to Scale High-Margin Hotel Vertical
On September 8th NGTF announced the completion of a retail pilot test in the lobby shops of a leading international hotel chain. The test, first announced in March 2021, has been confirmed a success.
As a result, the testing chain has confirmed the decision to fully launch the NGTF Nightfood brand into their lobby shop freezers chain-wide with an expected start date in the first quarter of 2022.
To fully capitalize on the high-margin hotel opportunity, NGTF has engaged iDEAL Hospitality Partners Group. Led by hospitality industry veteran Jill Dean Rigsbee, iDEAL focuses on introducing and scaling innovative hospitality-related products within the hotel/hospitality market. Rigsbee is the former long-time Director of Business Development for Avendra, North America’s leading hospitality procurement service provider.
Widespread hotel distribution can transform NGTF from a middle-of-the-road supermarket player to a powerful and prominent supermarket brand. RxBar built their early mainstream success with distribution in gyms. Oatly uses distribution in coffee shops like Starbucks to rapidly and efficiently scale their supermarket sales in new markets. NGTF plans to do the same with hotels.
For more information on Nightfood, Inc. (OTCQB: NGTF) visit: https://www.nightfood.com
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Company Name: Nightfood Holdings Inc
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