DANIA BEACH, Fla., Aug. 27, 2014
/PRNewswire/ -- Vapor Corp. (NASDAQCM: VPCO; "Vapor" or "the
Company"), a leading U.S.-based electronic cigarette and
vaporizer company, today announced that the Company and
International Vapor Group, Inc.
(http://www.internationalvaporgroup.com) and certain of its
subsidiaries ("IVG") have mutually terminated their previously
announced asset purchase agreement entered into on May 14, 2014 and amended on July 25, 2014.
The Company and IVG mutually terminated the asset purchase
agreement because the parties could not agree upon certain
operational and financial matters pertaining to the post-closing
integration of IVG's business operations.
There are no current disputes or disagreements between the
Company and IVG and neither party is liable for any breakup fees or
reimbursement of costs to the other party as a result of the
termination of the asset purchase agreement.
About Vapor Corp.
Vapor Corp., a publicly traded
company, is a leading U.S. based electronic cigarette company,
whose brands include Krave®, VaporX®, Hookah Stix®, Alternacig® and
Fifty-One®. We also design and develop private label brands for
some of our distribution customers. "Electronic cigarettes" or
"e-cigarettes," and "Vaporizers," are battery-powered products that
enable users to inhale nicotine vapor without smoke, tar, ash or
carbon monoxide. Vapor's electronic cigarettes, vaporizers and
accessories are available online, through direct response to our
television advertisements and through retail locations throughout
the United States. For more
information on Vapor Corp. and its e-cigarette and vaporizer
brands, please visit us at www.vapor-corp.com.
About International Vapor Group, Inc.
International
Vapor Group designs, manufactures, distributes and sells high
quality electronic cigarette products that provide customers
multiple alternatives to combustible tobacco cigarettes. A
leader in the electronic-cigarette business through the South Beach
Smoke®, EverSmoke®, NutriCig® and VaporFi™ brands, IVG
is one of the first national e-cig companies to develop and
distribute Vaporizers and USA made
E-liquids. IVG distributes and sells through company owned and
franchised retail stores, online websites and authorized retailers
nationwide. For more information please visit
http://www.internationalvaporgroup.com.
Safe Harbor Statement
This press release contains
certain forward-looking statements that are made pursuant to the
"Safe Harbor" provisions of the Private Securities Litigation
Reform Act of 1995, as amended. Words such as "expects,"
"anticipates," "plans," "believes," "scheduled," "estimates" and
variations of these words and similar expressions are intended to
identify forward-looking statements. These forward-looking
statements concern Vapor's operations, economic performance and
financial condition and are based largely on Vapor's beliefs and
expectations. These statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of Vapor to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Certain of these
factors and risks, as well as other risks and uncertainties are
stated in Vapor's Annual Report on Form 10-K for the fiscal year
ended December 31, 2013 and in
Vapor's subsequent filings with the U.S. Securities and Exchange
Commission. These forward-looking statements are made as of the
date of this press release, and Vapor assumes no obligation to
update the forward-looking statements or to update the reasons why
actual results could differ from those projected in the
forward-looking statements.
Vapor Corp. Contacts:
Media:
Caitlin Kasunich
KCSA Strategic Communications
ckasunich@kcsa.com
(212) 896-1241
Investors:
Jeffrey Goldberger / Garth Russell
KCSA Strategic Communications
jgoldberger@kcsa.com / grussell@kcsa.com
(212) 896-1249 / (212) 896-1250
International Vapor Group, Inc. Contacts:
Nick Molina
International Vapor Group, Inc.
press@internationalvapor.com
(305) 824-4007
SOURCE Vapor Corp.