PR84515

PLANO, Texas, June 24, 2020 /PRNewswire=KYODO JBN/ --

NuZee, Inc. (NASDAQ: NUZE) ("NuZee"), a single-serve pour-over coffee producer

and co-packer, announced today the closing of its previously announced

underwritten public offering (the "Offering") of 700,000 shares of its common

stock (the "Shares"), at a price to the public of $9.00 per share. The net

proceeds from the Offering, after deducting underwriting discounts and

commissions and estimated Offering expenses payable by NuZee, are expected to

be approximately $5.3 million. In addition, NuZee has granted the underwriters

a 45-day option to purchase up to 105,000 additional shares of NuZee's common

stock at the same initial price to the public less underwriting discounts and

commissions, and on the same terms and conditions, to cover over-allotments, if

any. NuZee intends to use the net proceeds from the Offering for working

capital and general corporate purposes. The Company's common stock began

trading on the NASDAQ Capital Market on June 19, 2020, under the symbol NUZE.

The Benchmark Company, LLC acted as sole book-running manager for the Offering.

The Shares described above were offered by NuZee pursuant to a registration

statement on Form S-1 (No. 333-234643) previously filed with the U.S.

Securities and Exchange Commission (the "SEC") and declared effective by the

SEC on June 18, 2020. The Shares were offered only by means of a prospectus. A

final prospectus relating to and describing the terms of the Offering was filed

with the SEC. Electronic copies of the final prospectus relating to the

Offering may be obtained by visiting the SEC's website located at

http://www.sec.gov or by contacting The Benchmark Company, Attention:

Prospectus Department, 150 E. 58th Street, 17th floor, New York, NY 10155, by

email at prospectus@benchmarkcompany.com, or by telephone at (212) 312-6700.

This press release shall not constitute an offer to sell or the solicitation of

an offer to buy any Shares, nor shall there be any sales of the Shares in any

state or 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 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 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, 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. These risks and uncertainties, many of which are beyond our

control, include the effects of the COVID-19 pandemic on our operations and

general economic conditions and our need for substantial additional funds. For

a 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 the Company's public reports filed with the SEC and in the final

prospectus filed with the SEC.

About NuZee and Coffee Blenders

NuZee, Inc. (d/b/a Coffee Blenders(R)) is a specialty coffee company and a

leading U.S. single-serve pour-over coffee producer and co-packer. We co-pack

single-serve pour-over coffee products for customers in the U.S. market and

also co-pack for the Korean market.

SOURCE: NuZee, Inc.

CONTACT: Shanoop Kothari, SVP and Chief Financial Officer, +1 (713) 530-7688,

shanoop@coffeeblenders.com