DENVER, CO, United States, via ETELIGIS INC., 03/11/2015 – – Hangover Joe’s Holding Corporation (OTC Pink: HJOE) (PINKSHEETS: HJOE), is excited to announce that it has signed a distribution deal with Cure Korea for the sale of hangover recovery shots in Korea, Japan and China. Over the next five years we will be distributing to Cure Korea which will be the merchandising arm of Hangover Joe’s in Asia. "We are very excited about this deal," said Matthew Veal, CEO for Hangover Joe’s. This is a huge achievement for the company. We have worked for over a year to do what was required for the KFDA to adjust our formula, so that it would gain acceptance in Asia. The Korean FDA is one of the strictest regulatory agencies in the world on dietary supplements and this is was not an easy task. We have re-engineered the hangover recovery shot to meet their guidelines for Asia, but we have also brought forth some of the best and latest ingredients to this new shot to make it even more effective in relieving the symptoms associated with a morning hangovers. Co-Founder and the head of sales and marketing Shawn Adamson worked at this day and night with both our beverage scientists and with our counter parts in Asia, dealing with the KFDA to create this new formula and to open up Asia for Hangover Joe’s.
This once again shows we are the leader in the functional lifestyle category in hangover recovery both in the USA & Internationally. I cannot stress what an accomplishment this is for our company. We had originally contracted an agreement with Media2UCo LTD, a Korean company, back in 2013 to launch in a chain of 8600 stores in Japan for 10 million bottles over 3 years. During the process of gaining acceptance to Asia, Media2UCo LTD went out of business in Korea and filed bankruptcy. We established a new contract with Cure Korea to launch in Korea but to also re-establish our agreements in Japan with the chain of 8600 stores. Cure Korea has very good connections into Asia and will re-establish our brand in Japan with the chain and will also launch us into China. We will focus on Hong Kong plus Macau which is the Las Vegas of Asia and a gambling mecca in Asia. Cure Korea will also focus on the larger and more affluent cities in China with a network of Chinese distributors.
Korea will be a large focus as we start to raise the brand in Asia. South Koreans drink twice as much liquor as Russians, and more than four times as much as Americans. The biggest hard alcohol drinkers on the globe aren’t cuddled up somewhere in sub-zero Siberia; they’re sipping on Soju, in South Korea said Shawn Adamson Co-Founder of Hangover Joe’s! South Koreans drink 13.7 shots of liquor per week on average for every man woman and child, which is the most in the world. And of 44 other countries analyzed by Euromonitor, none comes anywhere close to South Korea. No culture drinks like South Korea and our hangover recovery shot is going to do very well in this culture. Cure Korea has done their homework and have already had discussions with a host of retailers in South Korea who will bring this onto store shelves. Stores such as E-mart, Emart Everyday, with ME Convenience Store, Shinsegae department store and Korean Costco to just name a few plus large liquor distributors across Asia.
Cure Korea, CEO, Kiwan Do along with the company’s largest shareholder, Tae Hee Park are both well known in South Korea and are household names. “We have a good team and partnership lined up for Asia,” said Mike Jaynes, Co-founder of Hangover Joe’s and Chairman of the board. “I believe we are going to sell millions of bottles of The Hangover Recovery Shot all over Korea, Japan and China as we move forward and launch into Asia. We are working now on the boxes and sleeve for the Korean brand and we are hoping to be loading the first containers in June or early July.”
Kiwan Do Cure Korea CEO has an extensive educational background and business background. He attended the University of Konkuk in South Korea and received a Bachelor of business in law, and attended the University of Yonsei in South Korea an received a Master of business in law. He also has certificates of advanced management from the University of Yonsei in South Korea and the, University of Konkuk in South Korea – Certificate of advanced management program from the University of Konkuk. His work experience before forming Cure Korea is also very accomplished. In 2014, Kiwan Do was named “Man of the Year” by sisa-news people, he is a Real-estate columnist on the Korea economic newspaper, Korea-post, and has broadcasted on the speed-auction corporation, and business-magazine, Jo-eun investment firm, and for the Korea auction association website www.kobid.co.kr. He is also a part-time lecturer at University of Gang-dong and University of Seoul in Korea. Giving lectures at Ingeus Corporation, KEB Bank, City of Seoul Technology Education, KEPCO, KPU, Air University, Shinsegae Culture Center, and Korea Land Corporation. He has been a broadcaster in South Korea and here are some of the broadcast that he hosted: Broadcast: auction issue on biz-money show in MTN (money today), Broadcast: auction issue on morning-wide program in SBS (Seoul Broadcasting System), Broadcast: Borough of Gwan-ak HCN ‘talk & talk’, and is the Broadcast: Kiwan-do’s auction king on ‘podcast’. He is also the President CEO in Todaynto Newspaper Company and is also the Publisher issuer in Todaynto Newspaper Company.
To say the least he is a very accomplished individual in South Korea and is famous plus with his business experience will lead Cure Korea to become very successful in South Korea and Japan and China in the distribution of Hangover Joe’s morning after anti-hangover recovery drink. “We have signed 5 year distribution agreements with benchmarks of sales for each country,” stated HJOE CEO Matthew Veal.
“We are very excited about this opportunity,” added Shawn Adamson Co-Founder of Hangover Joe’s. “We know that the Asian market is huge for hangover recovery shots and drinks. This is a massive category in Korea alone and estimated $100 million dollars in products are consumed to aid hangover relief. Now there will be a brand that is specific to the symptoms of a hangover and Korea’s first hangover recovery shot.”
We believe we will become the leaders in Korea, Japan and China in morning hangover recovery I have no doubt. The hangover recovery shot has been re-engineered for Asia and some of the new ingredients such as Hovenia Dulcis comes from an oriental raisin tree found exclusively in Asian countries, and has been used in traditional Chinese medicine for centuries to prevent hangovers. In December of 2008, the Korean Food & Drug administration approved Hovenia Dulcis as a substance which can protect the body from alcohol. The active ingredient responsible for Hovenia Dulcis’s anti-alcohol properties is Dihydromyricetin (DHM). DHM speeds up your livers ability to metabolize both alcohol, and the toxic by-product acetaldehyde. (Which is created as alcohol is processed.) This allows DHM to flush alcohol and acetaldehyde out of your system at a quicker rate. This is important because acetaldehyde is 10-30 times more toxic than alcohol itself, and many scientists believe it is the root cause of hangovers.
We have also used White Willow Bark in this new hangover recovery shot. Willow Bark can safely prevent the spinal cord from transmitting pain messages to the brain. From a hangover, to a migraine or even cancer pain, this allows it to be wildly effective for many different types of discomfort. Along with this we have combined Milk Thistle, a traditional herbal medicinal product used to relieve the symptoms associated with occasional over indulgence of drink and aid the liver and it is used in the morning after consuming alcohol to help with the relief from a hangover. This helps your liver to process alcohol faster. We also have combine Prickly Pear extract that can reduce inflammation in the liver caused by a night of heavy boozing –elevating headaches, nausea and other symptoms this combined with Kudzu and our other key ingredients we have use make this hangover recovery shot an outstanding product for Asia. As we have incorporated some of the best Chinese herbal and traditional medicines along with other natural ingredients and cane sugar to create a great tasting hangover recovery shot that we believe will lead millions in Asia to morning hangover relief.
These are very exciting times for the company. We know also how the Japanese drink, the Japanese drink often in business with co-workers as this is seen as being a team player. The levels of Absenteeism in Japan in the work place are very low due to the pressure to perform on the job. This is where Hangover Joe’s will fill a need in the market and Cure Korea is expected to launch us into the 8600 store chain in Japan and will continue to work on many fronts to grow our Asian market with Cure Korea. There are a lot of 7-11 stores in Japan and they will also focus on these stores in Japan and Asia.
The company has quite a few things that are developing with both The Hangover Recovery Shot and will be featured in an upcoming TV show to be announced that millions will view. “We’ve been working overtime on quite a few fronts to Git R Done for HJOE!,” added Matthew Veal. “This has been a huge achievement and we look forward to having a very strong year and meeting our sales numbers and goals.”
Hangover Joe’s is the exclusive producer of “The Hangover” Recovery Shot, and one of the nation’s top selling anti-hangover recover drink & hangover recovery shot. Git-R-Done-Energy is an officially licensed product of Git-R-Done Productions, Inc. and Larry the Cable Guy and is a healthy energy drink. Visit our website at www.GitRDoneEnergy.com and www.hangoverjoes.com https://www.facebook.com/GitRDoneEnergy https://www.facebook.com/hangoverrecovery and on twitter @GitRDoneEnergy. @TheHangoverShot Hangover Joe’s is a publicly traded company and is trading on the OTCBB as HJOE. For more information, visit www.hangoverjoes.com, or check us out on Facebook and YouTube.
This news release contains “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, regulatory incentives, the development of new business opportunities, and projected costs, revenue, profits and results operations. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on its reports filed at www.sec.
Hangover Joe’s Holding Corporation
SOURCE: Hangover Joe’s Holding Corporation