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Friday, March 29, 2024

Mohawk Group Holdings (NASDAQ: MWK) Launches Protective Equipment & Wellness Direct to Consumer Brand Holonix

First Product an Easy-to-Use Single Use Hand Sanitizer

NEW YORKMay 05, 2020 (GLOBE NEWSWIRE) — Mohawk Group Holdings, Inc. (NASDAQ: MWK), the tech-enabled, ecommerce consumer products company, has launched a new health and wellness brand that will feature products based on the latest data and trends in consumer behavior related to the COVID-19 health crisis. The Company expects its first product to be available for sale in mid-May 2020. This is the Company’s fifth brand and represents a new category to its growing ecommerce portfolio.

Source: Mohawk Group
Source: Mohawk Group

“The data surrounding demand for categories such as sanitization and protection is obviously going through the roof right now, we are leveraging our agile supply chain and analytics platform to zero in on specific needs we expect will continue to show strong demand post the COVID-19 crisis,” said Yaniv Sarig, Co-Founder and Chief Executive Officer of Mohawk Group Holdings. “The first product we are launching under the Holonix brand is a single easy to use dosage of hand sanitizer targeting demand for individual size and on the go searches. As there is a tremendous need for these kinds of products by essential workers and first responders, we made the strategic decision to help fill these needs consistent with Mohawk’s core business model. We expect the demand for this and other products to remain strong as states and communities navigate reopening their businesses and schools while ensuring their people remain safe. We will continue to leverage our access to manufacturing capacity to bring these critical products to market.”

To learn more about Holonix Health and current product availability, please visit www.holonixhealth.com.

About Mohawk Group Holdings, Inc.

Mohawk Group Holdings, Inc. and subsidiaries (“Mohawk”) is a rapidly growing technology-enabled e-commerce consumer products company that uses machine learning, natural language processing, and data analytics to design, develop, market and sell products. Mohawk predominantly operates through online retail channels such as Amazon, and Walmart. Mohawk has incubated and grouped four owned and operated brands: hOmeLabs, Vremi, Xtava and RIF6. Mohawk sells products in multiple categories, including home and kitchen appliances, kitchenware, environmental appliances (i.e., dehumidifiers and air conditioners), beauty-related products and, to a lesser extent, consumer electronics. Mohawk was founded on the premise that if a company selling consumer packaged goods was founded today, it would apply artificial intelligence and machine learning, the synthesis of massive quantities of data and the use of social proof to validate high caliber product offerings as opposed to over-reliance on brand value and other traditional marketing tactics.

Forward Looking Statements

All statements other than statements of historical fact included in this press release that address activities, events, or developments that we expect, believe, or anticipate will or may occur in the future are forward-looking statements, including the statements pertaining to the launch of Holonix brand, the demand for COVID-19 related products, the Company’s expected timing of launch, and its ability to source and bring those product opportunities to market successfully.

Forward-looking statements are based on management’s current expectations and beliefs and are subject to uncertainties and other factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

A list and description of risks, uncertainties and other factors that could cause or contribute to differences in our results include risks related to the Company’s financial position, general economic and market factors, and specific risks related to global economic and marketplace uncertainties related to the COVID-19 pandemic, among others discussed in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and subsequent filings. We qualify all of our forward-looking statements by these cautionary statements.

Disclaimer:

Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement.

All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated five thousand dollars for the creation and dissemination of this content by the company.

This material does not represent a solicitation to buy or sell any securities. Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management.

The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings.  Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions.

Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: https://spotlightgrowth.com//disclosures/

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