NEW YORK, January 4, 2016 /PRNewswire/ --
Breathe eCig Corp. (OTCQB: BVAP) ("Breathe" or the "Company"), an electronic cigarette industry innovator and pioneer, has today announced that it has successfully restructured convertible debt with EMA Financial LLC.
The Company has reached a formal agreement with EMA Financial LLC ("EMA"), whereby EMA has agreed to an extension enabling Breathe to fully repay the outstanding convertible debt held in exchange for a one time cash payment of $170,600 USD on or before July 1, 2016 ("the Extension Date"). There will be no conversions initiated by EMA unless the Company fails to repay the agreed upon $170,600 USD on or before the Extension Date.
Breathe CEO Mr. Josh Kimmel expressed, "After retiring over $721,000 USD in convertible notes over the past three months, this was an important step for the Company, allowing Breathe to focus on its core business fundamentals."
About Breathe eCig Corp. (OTCQB: BVAP)
Breathe was founded in 2012 as a research and development company in Knoxville, Tennessee with the mission to develop a better e-cigarette than was available on the market. Now holding multiple patents (pending) for its groundbreaking product, BVAP, Breathe is not your typical e-cig manufacturer. With a commitment to remaining socially responsible through innovative product development, consumer outreach and education, Breathe challenges the e-cig industry establishment. To find out more, visit http://www.breathecig.com.
DISCLAIMER - Caution Concerning Forward Looking Statements
This press release contains statements that are "Forward-Looking" in nature (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). All statements regarding the Company's financial position, potential, business strategy, plans and objectives for future operations are Forward-Looking statements. Many of these statements contain words such as "goal," "aims," "may," "expect," "believe," "intend," "anticipate," "estimate," "continue," "would," "exceed," "should," "steady," "plan," "potential," "dramatic," and variations of such words and similar expressions identify Forward-Looking statements, but their absence does not mean that a statement is not a Forward-Looking statement. Because Forward-Looking statements involve future risks and uncertainties, there are many factors that could cause actual results to differ materially from those expressed or implied. The Company cannot predict the actual effect these factors will have on its results and many of the factors and their effects are beyond the Company's control. Any forward-looking statement made by the Company speaks only as of the date on which it is made. The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise. Given these uncertainties, you should not rely too heavily on these forward-looking statements.
Information for the Educated Investor
For further information regarding these and other risks related to Breathe eCigs' business, investors should consult Breathe eCigs' filings with the Securities and Exchange Commission, available at http://www.sec.gov.
SOURCE Breathe eCig Corp.