RICHARDSON, Texas, Dec. 12,
2023 /PRNewswire/ -- NuZee, Inc. (NASDAQ: NUZE), a
leading coffee co-packing and technology company, today
announced Randell Weaver has been
appointed to serve as the company's President and Chief Operating
Officer, effective immediately. As President & COO, Weaver will
have responsibility for all U.S. operations. Weaver joined the
company in August 2023 as Chief
Financial Officer and will also continue to serve in that role.
"I am pleased with the progress made since Randell joined in
August and am confident the internal initiatives he is leading will
translate into improved operating metrics in the quarters ahead,"
said Masa Higashida, Chairman and CEO. "Randell's expanded role in
day-to-day U.S. operations will also allow me to focus more
attention on growing international markets, where we believe
significant opportunities remain, along with an increased focus on
the company's investor base."
Weaver added, "I look forward to working in this new role to
improve our service to existing customers, including building on
the initial positive feedback from our Stone licensing
relationship. We see meaningful opportunity in calendar 2024 to
grow our business while achieving significant cost reductions and
efficiencies. Much work remains to achieve our operating goals and
I am excited to work with Masa and the Board to meet these
objectives."
Randell Weaver Biography
Mr. Weaver has more than 30 years of well-rounded manufacturing,
distribution, and CPG experience with three prior terms as a public
company President, COO or CFO and demonstrated success in cash
management, fund raising, building and mentoring staff, structuring
financing options, optimizing performance, growth, strategic
planning and relationship management.
Prior to joining NuZee, Mr. Weaver served as Chief Financial
Officer of Reinvention Unlimited, Inc, providing financial and
operational management, mentoring and executive oversight services
for international manufacturing and distribution clients with a
focus on regulated industries in food, pharmaceuticals and
contracting. Before that, he held several key positions, including
CFO of a publicly held CPG manufacturing and distribution company
with international operations and units in baked organic baby
foods, nutritional supplements, and highly regulated cannabis
products. While there, he transitioned that issuer's listing from
TSX to NASDAQ and helped raise in excess of $15 million in debt and equity. Mr. Weaver
previously held interim management positions at a private
equity-acquired food packaging company and a frozen food
company.
Mr. Weaver holds a Bachelor of Science degree in business
administration from Cal State University,
Northridge, and a Master of Arts in spiritual psychology
from University of Santa Monica.
About NuZee
NuZee, Inc., (NASDAQ: NUZE), is a leading co-packing company for
single-serve coffee formats that partners with companies to help
them expand within the single-serve and private label coffee
category. Providing end-to-end innovative and sustainable solutions
with the flexibility and capacity for both small roasters and large
global brands, NuZee is revolutionizing the way single-serve coffee
is enjoyed in the U.S. Through the brand's unique process, NuZee
fulfills every aspect of co-packing needs, from sourcing, roasting
and blending, to packing and packaging.
Forward-Looking Statements
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements include, but are not limited to, NuZee's
beliefs, plans, goals, objectives, expectations, assumptions,
estimates, intentions, future performance, other statements that
are not historical facts and statements identified by words such as
"expects", "anticipates", "intends", "plans", "believes", "seeks",
"estimates" or words of similar meaning. NuZee cautions you that
such statements are simply predictions and actual events or results
may differ materially. These statements reflect NuZee's current
expectations and NuZee does not undertake to update or revise these
forward-looking statements except as required by law, even if
experience or future changes make it clear that any projected
results expressed or implied in this or other NuZee statements will
not be realized. Further, these statements involve risks and
uncertainties, many of which are beyond NuZee's control, which
could cause actual results to differ materially from the
forward-looking statements. Statements related to, among other
things, the consummation of the offering of common stock and
potential changes in market conditions constitute forward-looking
statements. These risks and uncertainties, many of which are beyond
our control, include: NuZee's plan to obtain funding for its
operations, including funding necessary to develop, manufacture and
commercialize its products; the impact to NuZee's business from
COVID-19 global crisis; general market acceptance of and demand for
NuZee's products; and NuZee's commercialization, marketing and
manufacturing capabilities and strategy; for description of
additional factors that may cause NuZee's actual results,
performance or expectations to differ from any forward looking
statements, please review the information set forth in the 'Risk
Factors' and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" sections of NuZee's public
reports and NuZee's other filings made with the SEC.
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SOURCE NuZee, Inc.