AMSTERDAM, January 26, 2016 /PRNewswire/ --
Fontem Ventures, owner of market leading e-cigarette brand blu, and Ballantyne Brands, a U.S. based distributor and owner of the Mistic and HAUS brands of personal 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 Ballantyne Brands 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.
About Ballantyne Brands
Ballantyne Brands is an independent manufacturer of high-quality vapor products, primarily sold through brick-and-mortar retail channels. The company's Mistic brand of rechargeable and non-rechargeable e-cigarettes, including the Mistic Bridge™, as well as its HAUS™ line of vapor products, such as the HAUS™ Personal Vaporizer by Mistic, HAUS™ e-liquids, HAUS Craft Collection, and Unbroken e-liquids are sold in 70,000 retail outlets and wholesalers across the U.S.
SOURCE Fontem Ventures B.V.