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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): December 6, 2023
NUZEE,
INC.
(Exact
name of registrant as specified in its charter)
Nevada |
|
001-39338 |
|
38-3849791 |
(State
or other jurisdiction of |
|
(Commission |
|
(IRS
Employer |
incorporation
or organization |
|
File
No.) |
|
Identification
No.) |
1350
E Arapaho Rd Ste 230, Richardson, Texas 75081
(Address
of principal executive offices)
(760)
295-2408
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, $0.00001 par value |
|
NUZE |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;Compensatory Arrangements
of Certain Officers.
Appointment
of Randell Weaver as President and Chief Operating Officer
On
December 6, 2023, NuZee, Inc. (the “Company”) appointed Randell Weaver to serve as the Company’s President and Chief
Operating Officer, effective immediately. Mr. Weaver, age 65, joined the Company in August 2023 as the Company’s Chief Financial
Officer.
In
connection with his appointment as President and Chief Operating Officer, Mr. Weaver will continue to serve as the Company’s Chief
Financial Officer and all terms and conditions of Mr. Weaver’s existing employment agreement, dated as of August 16, 2023, will
continue in full force and effect, subject to amendment.
There
are no arrangements or understandings between Mr. Weaver and any other persons pursuant to which Mr. Weaver was appointed as an executive
officer. Mr. Weaver does not have any family relationships with any director or executive officer of the Company or any person nominated
or chosen by the Company to become a director or executive officer of the Company. There are no transactions in which Mr. Weaver has
any interest requiring disclosure under Item 404(a) of Regulation S-K.
Item
7.01. Regulation FD Disclosure
On
December 12, 2023, the Company issued a press release announcing the events described in Item 5.02 above. A
copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
As
provided in General Instruction B.2 to Form 8-K, the information furnished in this Item 7.01 shall not be deemed “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject
to the liabilities under that Section and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933,
as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly provided by specific reference in such
filing.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
|
NUZEE, INC. |
|
|
|
Dated:
December 12, 2023 |
By: |
/s/
Randell Weaver |
|
Name: |
Randell
Weaver |
|
Title: |
President,
Chief Financial Officer, and Chief Operating Officer |
Exhibit
99.1
NuZee,
Inc. Appoints Randell Weaver as President and Chief Operating Officer
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.
SOURCE
NuZee, Inc.
Contact/IR:
IR@Nuzeeusa.com
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