Vapor Group, Inc., Shareholders to Receive Registered Shares of Fully-Reporting SEC Company From Sale of Assets of its Subsidiary, Simple Cork

MIAMI, November 29, 2017 /PRNewswire/ --

Company's Pending Sale Of Its Wholly Owned Subsidiary's Assets Will Reduce Its Debt At A Time When The Parent Company's Revenues Have Been Rising. 

Vapor Group, Inc. (OTC Pink: VPOR), ("Company" or "Vapor Group"), announced today that it had signed a Letter of Intent ("LOI") for the sale of intellectual property assets of its wholly-owned subsidiary, Simple Cork, Inc. (the 'Assets") to a fully-reporting SEC company, (the "PubCo"). Under terms of the LOI, PubCo will pay for the Assets by a distribution of newly-issued and registered shares of its common stock to the Vapor Group shareholders of record on the closing and its assumption of all the debt of the Simple Cork subsidiary, and  a majority of the long term debt of the parent, Vapor Group, Inc.

The closing date for shareholders of record of the Company to be eligible to receive registered shares of PubCo in this transaction, will be December 29, 2017.

The Simple Cork subsidiary's Assets are the intellectual property the Company's patented Simple Corktm product.  The product is a faster and easier way to get the cork out of bottles of wine. Simple Cork lets anyone easily open a wine bottle without a corkscrew.

Yaniv Nahon. President and CEO of the Company, said, "We have been working on this transaction for some time and believe its completion will significantly benefit our shareholders and our ongoing operations. The following are the primary terms of the transaction:

1. Following closing, the newly-issued shares of PubCo's common stock will be registered with the SEC on a S-1 registration statement by PubCo wherein the shares will be distributed to our shareholders after the registration statement becomes effective. The exact ratio of the number of shares to be registered and issued to the Company's shareholders is yet to be determined and will be announced before December 29, 2017.
2. Vapor Group will be relieved of a major portion of its convertible debt that will be undertaken by PubCo, in addition to PubCo's assumption of the debt owed by Simple Cork.
3. In return for PubCo's issuance and registration of stock to benefit our shareholders and the assumption of debt, Vapor Group will sell any and all rights and title to the intellectual property assets of Simple Cork, Inc. to PubCo.

Yaniv further added, "Clearly through the actions required of it, PubCo is committed to completing the investment in the development, finalization and marketing of the Simple Cork product that we started. Separately, this transaction at the same time will set the stage for the streamlining of Vapor Group's operations and its focusing on recent developments that we believe will provide exceptional business growth.""

About Vapor Group, Inc. 

Vapor Group, www.vaporgroup.com, is 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. The company is focused on the acquisition, development and marketing of commercially viable proprietary products and associated intellectual property, such as the revolutionary, hand-held automatic Easy Grindertm designed for the MJ market, which is marketed solely by Its subsidiary, Total Vapor, Inc., the worldwide distributor of Easy Grindertm.

The Company's subsidiary, Total Vapor, Inc. is the worldwide distributor of the revolutionary, hand-held automatic Easy Grindertm.  For more information or to place an order, visit www.easygrinder.com, visit Amazon.com at   http://a.co/5HOPUkE, email  [email protected] or you can call us at 844-420-EASY (3279).  Easy Grindertm is shippable to Canada.

Vapor Group also owns Simple Cork, Inc., www.simplecork.com, the developer of a new, multi-nationally patented combination wine bottle cork/opener being prepared for market entry in 2018.

If you have specific questions about the Company, please email us at  [email protected].

This press release was written by PubCoPR.com - For more information: [email protected]

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. 

CONTACT:
Vapor Group, Inc.
+1-954-883-9525

SOURCE Vapor Group, Inc.