Company will focus on providing premium CBD to Companies Tapping into the burgeoning cannabis industry
MIAMI, FL / ACCESSWIRE / March 11, 2019 / Vapor Group, Inc. (OTC PINK: VPOR), announced Monday that its Board of Directors had approved a proposed restructuring of the company that eliminates its current subsidiaries and concentrates on providing high-quality, bulk CBD isolate for those looking to enter the growing cannabis industry.
According to the Associated Press, investors in 2018 poured $10 billion dollars into Canadian, Mexican and U.S. cannabis businesses. The American hemp-CBD market is expected to grow to $22 billion by 2022, with the overall global cannabis industry to be valued at $146.4 billion as early as 2025.
"We're really excited about the company's new direction and confident that our new sales model will deliver the profits that our shareholders deserve and desire," said VPOR Group President and Chief Executive Officer David Zinger. "We've got one singular focus and that's providing manufacturers and distributors the best CBD they need to grow their business."
Zinger said that the company's restructuring included the immediate splitting off of all but one of the Company's current subsidiaries, including Total Vapor, Inc; Royal CBD, Inc.; and CryptoTechCurrency, Inc. The remaining subsidiary, Simple Cork Inc., is expected to be spun-off later this year under the terms and conditions of a Reg A+ filing with the SEC, with a distribution of its shares to our shareholders once approved by the regulators.
Vapor Group rich history of innovation and revenue generation includes the exclusive distribution of unique, state-of-the-art herbal grinders, e-cigarettes, "Made in the USA" e-liquids, vaporizers and vaping products, and the exploration of cutting-edge cryptocurrency mining.
More updates, including details of the Reg A+, will be announced in the near future.
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. Vapor Group is the owner of 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.
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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.
SOURCE: Vapor Group Inc.
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