Former GrowLife President and Co-Founder Kyle Tracey Joins PeopleString/Vape Holdings as Chief Executive Officer Vape to Also Acquire Tracey's New Ceramic Line
WOODLAND HILLS, Calif., Jan. 3, 2014 /PRNewswire/ -- PeopleString Corp. (OTCQB: PLPE) (the "Company"), a company transitioning into a holding company functioning within the legal cannabis concentrate industry, announced today that Mr. Kyle Tracey, who previously served as President of GrowLife Inc. (OTCBB:PHOT), has been appointed as CEO of the Company, effective immediately.
Tracey will replace Jerome Kaiser as CEO and will also serve as the Chairman of the Board of Directors of the Company. Mr. Kaiser will remain on as the Company's CFO and as a member of the Board.
Mr. Tracey was instrumental in the creation of the GrowLife brand and in establishing GrowLife as one of the leaders in the legal cannabis industry, having held the position during a period during which GrowLife revenues were simultaneously increased and diversified.
"I am tremendously excited about the opportunity to steward Vape Holdings for the foreseeable future," said Tracey. "My tenure at GrowLife has given me a wide breadth of understanding that will be extremely useful in launching Vape. Having learned and worked at the arm of GrowLife's current CEO, Sterling Scott, gives me an excellent blueprint on the right way to do things in this industry."
Additionally, Mr. Tracey has agreed to an asset purchase of his proprietary line of state-of-the-art ceramic vaporizers by Vape Holdings. The Company will communicate more about the product line in the near future, pending certain protections of its intellectual property.
"I am as excited as I have ever been as I survey the opportunity ahead at Vape," Tracey added. "I am able to now concentrate, no pun intended, on the area of the legal cannabis movement where I believe there is tremendous market opportunity and where my personal skill set is best utilized."
For more information on PeopleString/VAPE Holdings, please visit: www.VapeHoldings.com
Cautionary Language Concerning Forward-Looking Statements
This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for PeopleString's products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in PeopleString's filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting PeopleString please refer to the Company's Securities and Exchange Commission filings, which are available at www.sec.gov. PeopleString undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE PeopleString Corp.