NuZee Announces Closing of Subscribed Public Offering of $3.4 Million Common Shares

PLANO, TX, August 10, 2022 /PRNewswire/ — NuZee, Inc. (NASDAQ: NUZE), a leading U.S. producer and co-packer of single-serve coffee formats, today announced the closing of its previously announced 4 200,000 common shares at a public meeting offer price of $0.82 per share. Gross proceeds before subscription discounts, commissions and other offering costs are approximately $3.4 million.

(PRNewsfoto/NuZee, Inc.)

Maxim Group LLC acted as the sole bookkeeper for the offering.

NuZee has granted the underwriter a 45-day option to purchase up to an additional 630,000 shares at the public offering price, less underwriting discounts and commissions.

The securities have been offered pursuant to a current shelf registration statement (including a prospectus) on Form S-3 (No. 333-248531) previously filed with the United States Securities and Exchange Commission (the ” SEC”) and declared effective by the latter. The securities have been offered only by means of a written prospectus and a prospectus supplement which form part of the effective registration statement. A final prospectus supplement describing the terms of the public offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus supplement and accompanying public offering prospectus may be obtained by contacting Maxim Group LLC, 300 Park Avenue, New York, NY 10022, or by phone at (212) 895-3745.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, and there will be no sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

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. NuZee cautions you that these statements are only predictions and that 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, even if experience or future changes clearly indicate that the projected results expressed or implied in this statement or in other NuZee statements will not come true. In addition, such 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. These risks and uncertainties, many of which are beyond our control, include: NuZee’s plan to obtain financing for its operations, including the financing necessary to develop, manufacture and market its products; the impact on NuZee’s business from COVID 19, including supply chain disruptions; general market acceptance and demand for NuZee’s products; NuZee’s reliance on third-party roasters to roast and blend the coffee beans needed to manufacture its products and provide its co-packing services; NuZee’s ability to successfully achieve anticipated results of strategic transactions; the fact that certain of NuZee’s single-serve coffee products would have to be manufactured, processed and packaged for NuZee by its new partner on a purchase order basis pursuant to the parties’ agreement; the fact that sales are concluded on the basis of a purchase order without any written agreement between NuZee and its customers; and NuZee’s sales, marketing and manufacturing capabilities and strategy. For a description of additional factors that may cause NuZee’s actual results, performance or expectations to differ from any forward-looking statements, please see the information set forth in “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of NuZee’s public filings and other filings by NuZee with the SEC.

About NuZee

NuZee, Inc., (NASDAQ: NUZE) is a leading co-packaging company for single-serve coffee formats that partners with companies to help them grow in the single-serve coffee category and house brand.

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SOURCE NuZee, Inc.

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