VaporBrands International to Form Joint Venture With Marijuana, Inc., a Subsidiary of Hemp, Inc., to Develop Medical Marijuan...
January 28 2014 - 3:20AM
Marketwired
LOS ANGELES, CA-(Marketwired - Jan 28, 2014) - VaporBrands
International, Inc. (OTC Pink: VAPR) (the "Company" or
"VaporBrands") is pleased to announce that the Company has entered
into a Letter of Intent to form a joint venture with Marijuana,
Inc. (a wholly owned subsidiary of Hemp, Inc. (OTC Pink: HEMP)), a
leading provider of products and services for the industrial hemp
and medical marijuana industries.
Under terms of the proposed joint venture, Marijuana, Inc., will
assist VaporBrands with the development and distribution of
specialized marijuana vaporizing products to be sold primarily
through existing medical marijuana dispensary networks. In
addition, VaporBrands and Marijuana, Inc. have agreed to research,
develop and distribute vaporizer products specifically for the use
of Hemp Oil in natural medicine. Marijuana, Inc. has also
agreed to assist VaporBrands in expanding the retail distribution
of its current and future electronic nicotine based cigarette
products.
"The same as with vaporized nicotine products, there are also
numerous health and operative benefits of utilizing cutting-edge
vaporizer technology to consume medical marijuana and hemp," said
Wendy Haviland, President of VaporBrands International,
Inc. "Marijuana, Inc., and its CEO, Bruce Perlowin, is one of
the most visible players in the both the hemp and marijuana
legalization movements, so I can't imagine a more experienced and
well-connected partner for VaporBrands to team up with to launch
exciting new products. We all look forward to finalizing this
agreement in the next few weeks and building this into a long
lasting partnership."
Based on the current and projected positive market conditions for
legal marijuana (medical and recreational), the Company anticipates
significant demand for VaporBrands and Marijuana, Inc. co-developed
vaporizing products among a wide cross-section of users that are
seeking the safest and most effective way to consume marijuana.
The proposed joint venture forming transaction remains subject to,
among other things, completion of satisfactory due diligence by all
parties, and VaporBrands and Marijuana, Inc. entering into a
definitive joint venture agreement. There can be no assurance
that the transaction will be completed as proposed or at
all.
About VaporBrands International, Inc. (OTC Pink: VAPR)
VaporBrands International, Inc. is a marketing and development
partner for manufacturers of electronic cigarettes. Electronic
cigarettes represent the future of smoking; they produce no smoke,
tar, ash or offensive odor while containing about the same amount
of nicotine as traditional tobacco cigarettes. Unlike traditional
tobacco cigarettes, electronic cigarettes can be used in many
public places currently restricted from smoking. VAPR intends
to focus on creating opportunities for culturally relevant brands
seeking to acquire significant market share in the rapidly growing
"vaping" sector of the global marketplace.
ABOUT MARIJUANA, INC.
Marijuana, Inc., is currently a wholly owned subsidiary of Hemp,
Inc. (OTC Pink: HEMP). Just as Hemp, Inc. has marched forward
advocating for the legalization of hemp, Marijuana, Inc. has been
at the forefront of the legalization movement. The Board will
take up the matter of splitting off Marijuana, Inc. as a completely
separate subsidiary, as its mission is to cautiously explore the
medical marijuana industry. Hemp, Inc.'s primary focus is on
industrial hemp and the over 25,000 products it can produce, which
is legal in all 50 states. However, Marijuana, Inc. was
retained by Hemp, Inc. (OTC Pink: HEMP) to take advantage of the
economic opportunities to be found, specifically in the medical
cannabis, recreational marijuana, or peripheral industries such as
this one.
ABOUT HEMP, INC.
Hemp, Inc. (OTC Pink: HEMP)
focuses on the vast market created by the quickly emerging, and
growing, multibillion dollar industrial hemp industry. Hemp, Inc.
(OTC Pink: HEMP) is not involved in the cultivation or marketing of
medical marijuana. It is the company's belief that legalization of
hemp in all 50 states and at the federal level will come to pass.
With that in mind, the company is building infrastructure with the
potential to gain substantial market share before and after
industrial hemp prohibition ends. (Pending any federal licensing or
other requirements, that may be enacted after hemp prohibition
ends).
Safe Harbor Statement
This press release may contain
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Any statements that
are not statements of historical fact (including but not limited to
statements containing the words "will," "believes," "plans," "anticipates," "expects," "look
forward," "estimates" and similar expressions) should be considered
to be forward-looking statements and the safe harbor provisions of
said Act do not apply to an issuer that issues penny
stock. Actual results may differ materially from those
indicated by such forward-looking statements as a result of various
important factors including, among others, competition, market
demand, technological change, strategic relationships, recent
acquisitions, international operations, general economic conditions
and government regulations. We do not assume any obligation to
update any forward-looking statements.
Wendy
Haviland VaporBrands International,
Inc.whaviland@vaporbrands.com
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