GRANT-VALKARIA, Fla., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands" or the "Company,"), the exclusive U.S. distributor of all products manufactured by Bidi Vapor, LLC ("Bidi Vapor"), which are intended for adults 21 and over, today provided the following business update letter to shareholders from its Executive Chairman, Interim Chief Executive Officer and President, Barry M. Hopkins:
To Our Shareholders:
With our Annual Report on Form 10-K for our 2023 fiscal year now on file with the SEC, we wanted to provide some highlights of our results and lay out our vision going forward.
Our fiscal year ended October 31, 2023 and since has been a time of significant transition for Kaival Brands as we put in place new management and board members and made important progress towards reigniting sales, expanding distribution, diversifying our revenue streams and working to institute cost controls and improved operational procedures. Market demand for Bidi Vapor’s BIDI® Stick electronic nicotine delivery system (ENDS) products was robust through the end of the fiscal year, and we believe the long-term investment thesis for our business is solid, despite continued regulatory challenges that we are working to overcome.
https://www.globenewswire.com/news-release/2024/02/14/2829470/0/en/Kaival-Brands-Provides-Business-Update-in-Letter-to-Shareholders.html