MIAMI, Feb. 11, 2019 /PRNewswire/ -- Vapor Group, Inc. (OTC Pink: VPOR), ("Company" or "Vapor Group"), announced today that it had entered into a "Letter of Intent" (the "LOI") to undergo a change of control and change of its business focus.
Under the terms of LOI upon "closing" of the transaction, Yaron Elkayam, the CEO and principal shareholder of White Label Liquid, Inc., Daytona Beach, Florida (OTC Pink: WLAB) will assume majority shareholder control of the Company, install a new board of directors and new management team, restructure the Company's operations and execute a new business plan. As a result, upon closing, which should occur rapidly, Yaniv Nahon, current President, will immediately depart the Company, as will Dror Svorai who has been serving as its consultant. Both will no longer be involved in the Company or any of its operations and will pursue other interests. Additional details are to be released at a later date.
Yaniv Nahon President of the Company, said, "Once the transaction is closed, Yaron will bring to the Company a fresh outlook and provide for a substantial revitalization of its operations. We believe this change will greatly benefit our shareholders over time."
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.
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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.
CONTACT: Vapor Group, Inc., 954-883-9525
SOURCE Vapor Group, Inc.