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WHITTIER, CA--(Marketwired - Mar 24, 2016) - New Generation Consumer Group (
Through negotiations, it consisted of the immediate resignation of Mr. Charles Morrison in addition to Calvin Ross. Terms included the buyout of Calvin Ross's position, transferring complete ownership to Mr. Tom Kim. Additional terms of the separation agreement will be discussed later in the company's revamp plan.
Mr. Kim stated today, "My intentions are to focus on the restructure of NGCG and our products that can be created on a faster pace to generate immediate revenues and maintaining profitability. I will concentrate on driving solid top line growth that delivers leveraged earnings with a continued emphasis on quality and innovation in order to maximize shareholder value. This plan will be put in place not only to build a great company, but to insure shareholder benefit." Kim further stated, "I am confident that the team will continue to execute the planned strategy with distinction and that the company will enjoy continued success that benefits everyone."
Phil Longoria, New Generation Consumer Groups COO stated, "The board is excited about the company's new strategic direction and delivering a better product line up with solid growth. The board has complete confidence that Tom is the right person to be our next CEO."
Over the next couple weeks, NGCG will start communicating with shareholders about the direction it will be taking, restructuring the product line, in addition to setting new goals, and addressing transparency under new leadership.
NGCG thanks each of its investors for their continued support.
About New Generation Consumer Group, Inc.
New Generation Consumer Group, Inc. (NGCG) is a marketing and media company that currently operates through four separate divisions: Mucho Macho, VIP Spirits, Monster Marketing, and our Snack Division. Mucho Macho features Mucho Macho Michelada Mix as its featured product. Our VIP Spirits Division will feature Excuse as our premium liqueur brand. Our initial alcohol product will be a Top Shelf Liqueur infused Premium Imported Vodka in a variety of different flavors, followed by Excuse Whiskey. Monster Marketing provides graphic design, web development, and brand management, in addition to other various services to its clients to help them gain more customers, increase sales, aid in selling products and services and or to create brand awareness. Our snack division brings consumers spicy and intense flavoring of noticeable quality for today's particular tastes. Additional information may be found at http://www.newgencg.com, https://www.facebook.com/muchomachomichelada, or https://twitter.com/MuchoMachoMiche.
Safe Harbor and Forward-Looking Statements
This press release contains forward-looking statements. Words such as "expects," "intends," "believes," and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
New Generation Consumer Group, Inc.
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