Kaival brands receives initial royalty payment from philip morris international following increased international sales

Record international sales in july 2023 follows recently amended agreement with philip morris international grant-valkaria, fla., sept. 21, 2023 (globe newswire) -- kaival brands innovations group, inc. (nasdaq: kavl) ("kaival brands," the "company," or "we"), the exclusive u.s. distributor of all products manufactured by bidi vapor, llc ("bidi vapor"), which are intended for adults 21 and over, today provided an update on sales activity by, and royalty payments received by kaival brands from, philip morris international, inc. (pmi), whose affiliate holds the license from kaival brands to market bidi vapor-based products in multiple international jurisdictions.
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