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SOURCE Vapor Group, Inc.
MIAMI, December 26, 2017 /PRNewswire/ --
Vapor Group, Inc. (OTC Pink: VPOR), ("Company" or "Vapor Group"), announced today that the closing date of its asset sale of the intellectual property of its subsidiary, Simple Cork, Inc., to a fully-reporting SEC company, (the "PubCo"), anticipated to close on December 29, 2017 per the Letter of Intent ("LOI") between the companies as stated in the its press release of November 29, 2017, has been reset to after the first of the year. The new anticipated closing date is on or before January 31, 2017.
Important, the delay in closing does not change the announced "shareholder of record date" of December 29, 2017 which will be used as the ownership reference date for the subsequent distribution of registered shares of the PubCo after closing.
Yaniv Nahon, President, stated, "Working through the necessary due diligence as well as negotiating the various terms and conditions of the asset sale, is simply taking longer than we had anticipated since there are several complex valuation issues involved." He added, "We will update our shareholders further as negotiations progress and we get near to a closing."
About Vapor Group, Inc.
Vapor Group, http://www.vaporgroup.com, historically has been focused on the acquisition and development of commercially viable intellectual property and proprietary products. Vapor Group, is a publicly traded OTC company, trading under the symbol, VPOR.
CryptoTechCurrency, Inc., which specializes in cryptocurrency mining, is a wholly-owned subsidiary of Vapor Group and a new addition to its family of businesses. "Cryptomining" is the fundamental methodology of earning and/or creating digital currencies such as Bitcoin, Litecoin and others, through the use of dedicated, specialized mining machines that perform complex mathematical functions to mine a cryptocurrency and also process cryptocurrency transactions. These machines operate 24-hours per day, 7-days per week within mining-dedicated, temperature-controlled server centers that provide complete end-to-end technical and other support for "peace of mind" and uninterrupted operation.
The Company's subsidiary, Total Vapor, Inc. is the worldwide distributor of the revolutionary, hand-held automatic Easy Grinder™. For more information or to place an order, visit http://www.easygrinder.com, visit Amazon.com at http://a.co/5HOPUkE, email firstname.lastname@example.org or call us at 844-420-EASY (3279). Easy Grinder™ is shippable to Canada.
Vapor Group also owns Simple Cork, Inc., http://www.simplecork.com, the developer of a new, multi-nationally patented combination wine bottle cork/opener being prepared for market entry in 2018, and Royal CBD, Inc., a marketer of hemp-based CBD oil products.
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Safe Harbor Statement:
This release includes "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. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may" or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, economic, competitive, and equity market conditions.
Vapor Group, Inc.
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