AMSTERDAM, December 18, 2015 /PRNewswire/ --
Fontem Ventures, owner of market leading e-cigarette brand blu, and Vapor Corp., a U.S. based distributor and retailer of vaporizers and e-liquids, today announced they have reached a settlement agreement that resolves ongoing litigation in the USA.
The settlement ends another of eight patent infringement cases originally brought by Fontem Ventures and Fontem Holdings 1 in March 2014 in the United States District Court for the Central District of California in relation to e-vapour technology.
Under the terms of the settlement, Fontem Ventures has granted Vapor Corp. a non-exclusive royalty-bearing global licence under the patents asserted in the litigation and certain other e-vapour technology related patents. The remaining settlement terms are confidential.
About Fontem Ventures
Fontem Ventures is the owner of blu, a leading e-cigarette brand in the United States and the United Kingdom. Headquartered in the Netherlands, and present on two continents, Fontem Ventures is an innovative consumer goods company, founded in 2012, committed to developing a portfolio of products that meet consumer needs, including the highest quality electronic vaping products.
Vapor Corp., a NASDAQ company, (NASDAQ symbols: VPCO and VPCOU) is a U.S. based distributor and retailer of vaporizers and e-liquids. Vapor Corp. has a streamlined supply chain, marketing strategies and wide distribution capabilities to deliver its products. The Company's brands include VaporX®, Krave®, Hookah Stix® and Vaporin™ and are distributed to retail stores throughout the U.S. and Canada. The Company sells direct to consumer via e-commerce and Company-owned brick-and-mortar retail locations operating under "The Vape Store" brand.
SOURCE Fontem Ventures B.V.