NEW GENERATION CONSUMER GROUP INC PROVIDES CORPORATE UPDATE

 

LOS ANGELES, CA -- June 16, 2016 -- InvestorsHub NewsWire -- New Generation Consumer Group (OTC PINK: NGCG) – New Generation Consumer Group, Inc announces today a corporate update to inform their shareholders and investors of current corporate developments. 
 
While we have been concerned with organizing the current rollout of products necessary to build a stable foundation that will aid in continued support of revenues geared towards future growth; Mr. Kim has taken personal hand at the task of bringing the companies licenses and financial reporting in line.  Mr. Kim’s strength has always been seeking companies with the potential to thrive who may have not maximized their profitability as a result of weak corporate governance.
 
With several products in the pipeline in various stages of their development cycles, Mr. Kim now believes that the company is ready to seek appropriate distribution channels. As the scope of products by NGCG increases, so does our potential distribution network. The company has been focused mainly on regional domestic distribution in the past, Mr. Kim now has the confidence in the company’s strong foundation to reach out to some of his international colleagues with the intent of creating a footprint in the other pore populous and emerging markets.  A number of opportunities have materialized with various locations and some have entered into the negotiation stage.
 
Due to the many changes that have taken place since 1st quarter, 2016 there were many things that needed to be corrected and changed. We have experienced wholesale and managements changes, and have had to correct delinquent company filings. Due to those items, it has caused a delay in the posting of the 1st quarter financials. NGCG apologizes for any concerns that this may have caused. The company is committed to ensuring that all future required submissions are made on a timely basis. It is expected that this will be rectified and approved by OTC in the fourth coming week.
 
As previously stated, the company plans to start updating its shareholders and investors via the company website. It’s NGCG’s goal to keep the communication flowing and will do so via the website. Anything news worthy, will be pressed released.
 
Tom Kim, New Generation Consumer Group’s CEO states, “I realize this transition has been painful. It has taken a lot longer than expected and we’ve had to go through several adjustments to get things corrected and changed”. Kim further stated, “I’m confident that there will not be any additional delays in the future as I have been working diligently day and night to insure that the direction the company is going in is consistent and stable and growth is not only positive, but profitable. I appreciate your patience during this time and more importantly your continued support.”
 
About New Generation Consumer Group, Inc.
 
New Generation Consumer Group, Inc. (NGCG) is a marketing and media company that currently operates through two separate divisions: Mucho Macho, and our Beverage division featuring Hemp Refreshers and Pop-n-Hemp Soda. Mucho Macho features Mucho Macho Michelada Mix as its featured product. Our Mucho Macho 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.
 
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