VPR Brands L.P. (OTC:VPRB) Announces Acquisition of the Wholesale Business Assets of Vapor Corp (OTC:VPCO)
August 03 2016 - 9:00AM
VPR Brands L.P., (OTC:VPRB) (“VPR Brands” or the “Company”) is
pleased to announce that it has acquired the wholesale business
assets of Vapor Corp (OTC:VPCO), effective as of July 29, 2016.
VPR Brands will be consolidating its operations and moving
into the office and warehouse facility that houses the wholesale
division and will be hiring all of the 13 employees of Vapor Corp
responsible for sales and logistics. The acquired business includes
the brand trademarks and websites, inventory and wholesale customer
accounts. The brands include Honey Stick (more information
available at vapehoneystick.com) a premium open tank mod
specifically designed and intended to be used for essential oils
and which is becoming popular in medical and recreational marijuana
legal states; Vaporin brand (vaporin.com) which is a high quality
entry level range of product sold nationwide in smoke shops,
convenience stores and gas stations; VaporX brand
(iVaporX.com) a premium mod and open tank system program for
the experienced Vape customer all for under $100 and available at
retail in custom display; and Hooka Stix brand Hooka flavor
inspired “cigalikes” (which are electronic cigarettes designed to
look as much as a tobacco cigarette as possible). All of these
operations will be added to VPR Brands’ portfolio of brands along
with our newly launched and already international Helium brand
eliquid (vapehelium.com) the very first eliquid to be sold chilled
to stay fresh in its own unique custom counter top chiller display.
This acquisition comes at a pivotal time with
new deeming regulations which begin to take affect just this week.
For example, August 8, 2016 is a critical date where the FDA has
cut off any new product from being introduced at retail in the US
without first seeking pre-market approval. Any product being sold
prior to August 8, 2016 however can remain on the market while
seeking approval, through 2018 and into 2019. VPR Brands will now
be able to continue selling these products while navigating through
the regulatory process. With no new product being allowed to come
to market VPR Brands is in a unique position to capitalize on the
all of the existing products previously sold prior to August 8,
2016.
“This opportunity couldn't have come at a better
time,” said Kevin Frija, the CEO of VPR Brands. “I was actually
responsible for launching some of these brands while I was CEO of
Vapor Corp and I am excited to be able to start selling them once
again. I have always been a sales-driven CEO and look forward to
being able to reinvigorate these great products and brands under
the new VPR Brands umbrella. We will immediately begin a nationwide
marketing push so that all of our existing customers realize
our presence and are familiar with our portfolio of brands
available to them going forward during the regulatory process and
beyond.”
About VPR Brands L.P.
VPR Brands is a technology holding company,
whose assets include issued U.S. and Chinese patents for
atomization related products including technology for medical
marijuana vaporizers and electronic cigarette products and
components. The Company is also engaged in product development for
the vapor or vaping market, including e-liquids. Electronic
cigarettes (also known as ecigs or e-cigs) are electronic devices
which deliver nicotine through atomization, or vaping of e-liquids
and without smoke and other chemicals constituents typically found
in traditional tobacco burning cigarette products.
Forward-Looking Statements:
This press release contains “forward-looking statements” 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
and such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Such statements are subject to risks and uncertainties
that could cause future results to differ materially from the
forward-looking statements. This press release contains information
relating to the Company that is based on the beliefs of the Company
or its management, as well as assumptions made by and information
currently available to the Company or its management. When used in
this document, the words “anticipate,” “estimate,” “expect,”
“intend,” “plans,” “projects,” and similar expressions, as they
relate to the Company or its management, are intended to identify
forward-looking statements. Such statements reflect the current
view of the Company regarding future events and are subject to
certain risks, uncertainties and assumptions, including the risks
and uncertainties noted. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
to be incorrect, actual results may vary materially from those
described herein as anticipated, believed, estimated, expected,
intended or projected. In each instance, forward-looking
information should be considered in light of the accompanying
meaningful cautionary statements herein. Factors that could cause
results to differ include, but are not limited to, successful
performance of internal plans, the impact of competitive services
and pricing and general economic risks, estimated, expected,
intended or projected. In each instance, forward-looking
information should be considered in light of these uncertainties.
The forward-looking statements in this release are made as of the
date hereof and VPR Brands L.P. undertakes no obligation to update
such statements.
For further information regarding VPR Brands:
VPR Brands 305.830.2900
E-mail:info@vprbrands.com
Website: www.vprbrands.com
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