Major Restructuring Planned
MIAMI, Feb. 19, 2019 /PRNewswire/ -- Vapor Group, Inc. (OTC Pink: VPOR), ("Company" or "Vapor Group"), announced today that it had completed and signed the documentation to consummate a change of control of the Company per the "Letter of Intent" ("LOI") announced previously. As a result, Vapor Group will undergo a complete change of management and business focus.
Yaron Elkayam, the CEO and principal shareholder of White Label Liquid, Inc., Daytona Beach, Florida (OTC Pink: WLAB) has assumed majority shareholder control of the Company, and will install within the week a new board of directors and new management to execute a new business plan which is to be announced. Yaniv Nahon in the coming days will be immediately departing the Company as will Dror Svorai. Both will no longer be involved in the Company or its operations. The change of control constitutes a total restructuring.
Yaron Elkayam, new controlling shareholder, said, "It is time for this Company to enter into a totally new business with a proven history of generating significant revenues and profits. I will be making several announcements in the weeks ahead about VPOR's new focus and who will be guiding the renewed growth. Once it is announced, I believe that the Company's shareholders will be pleased with what we have planned which includes major changes that also impact the Companies subsidiaries. What I can say for now is that the changes will not include any reverse stock split, any change in name or trading symbol or change in domicile. However, a change of headquarters address will be announced. We look to a bright future for this Company."
About Vapor Group, Inc.
Vapor Group, www.vaporgroup.com, is a publicly traded OTC company, trading under the symbol, VPOR, and today is a holding company for several subsidiaries.
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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.
CONTACT: Vapor Group, Inc., +1-954-883-9525