DANIA BEACH, Fla., Sept. 9, 2015 /PRNewswire/ -- Vapor Corp. (NASDAQ
CM: VPCO, VPCOU) (the "Company"), a leading U.S.-based
distributor and retailer of vaporizers, e-liquids, e-cigarettes and
e-hookahs, announced today the successful completion of its
acquisition of an established retail vape store, which is the third
vape store acquired following the Company's recent public offering.
Located in Fort Myers, Fla., this
represents the 15th "The Vape Store" location. Terms of the
transaction were not disclosed.
The acquisition of the 15th store, coupled with the Company's
recently announced acquisition of two additional retail vape stores
in Gainesville, Fla., are
centerpieces in Vapor Corp.'s aggressive retail expansion strategy.
As a leading vaporizer / e-cigarette company – and currently the
only pure-play company in the $3.5
billion vaping industry that's listed on a major stock
exchange – Vapor Corp. plans to increase the number of
Company-owned retail stores to between 30 and 40 locations through
the end of 2015.
"Just one month after completing a $41.4
million capital raise, Vapor Corp. has begun to successfully
execute against its acquisition program, further establishing
itself in the growing Florida vape
market. We are excited to add the Vapor Corp. banner to this new
location and capitalize on the store's profitability and loyal
customer base. These acquisitions are just the beginning, as we
plan to open and acquire additional stores in surrounding areas,
further strengthening the Vapor Corp. brand and accommodating the
needs of local vaping communities," said Jeff Holman, Vapor Corp.'s CEO.
Mr. Holman continued, "Our national acquisition program reflects
Vapor Corp.'s ambition to become a major force in the retail vaping
industry. With a robust and growing pipeline of precise acquisition
targets throughout the United
States, our strategy is to build a brand that will become
the go-to resource for consistency and quality products. Our
stores serve as a social meeting place where both novice and
experienced customers can learn about the latest in vaping, as well
as sample and purchase their favorite products."
About Vapor Corp.
Vapor Corp., a NASDAQ company, is a
U.S. based distributor and retailer of vaporizers, e-liquids and
electronic cigarettes. It recently acquired the retail store chain
"The Vape Store" as part of a merger with Vaporin, Inc. The
Company's innovative technology enables users to inhale nicotine
vapor without smoke, tar, ash or carbon monoxide. 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.
Safe Harbor Statement
This press release
includes forward-looking statements including statements regarding
the Company's acquisition plans, the expected number of
company-owned stores and the 2015 estimate of the vape store
market. The words "believe," "may," "estimate," "continue,"
"anticipate," "intend," "should," "plan," "could," "target,"
"potential," "is likely," "will," "expect" and similar expressions,
as they relate to us, are intended to identify forward-looking
statements. We have based these forward-looking statements
largely on our current expectations and projections about future
events and financial trends that we believe may affect our
financial condition, results of operations, business strategy and
financial needs. The results anticipated by any or all of
these forward-looking statements might not occur. Important factors
that could cause actual results to differ from those in the
forward-looking statements include contractual issues that may
affect future acquisitions, a shift in consumer preferences and
future federal and/or state regulation regarding vaporizers and
tobacco alternatives. Further information on our risk factors is
contained in our filings with the SEC, including the Prospectus
dated July 23, 2015. We undertake no
obligation to publicly update or revise any forward-looking
statements, whether as the result of new information, future events
or otherwise.
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visit:http://www.prnewswire.com/news-releases/vapor-corp-continues-expansion-with-additional-retail-vape-store-acquisition-300139625.html
SOURCE Vapor Corp.