SOURCE: Smokefree Innotec, Inc.

July 01, 2011 09:57 ET

Smokefree Innotec Accepts Resignation of President Thomas Schroepfer Today

LAS VEGAS, NV--(Marketwire - Jul 1, 2011) - George Roth, CFO, of Smokefree Innotec, Inc. (PINKSHEETS: SFIO), an established international distributor of e-cigarettes (http://www.sfio.us or http://www.realsmokefree.com), announced that it has come to the attention of the Board of Directors of SFIO that the United States Securities and Exchange Commission has issued a press release today naming individuals allegedly engaging in actions which may have involved federal securities law violations, including one that describes SFIO's President Thomas Schroepfer as having participated in a transaction the Company believes involved a total of $40,000 in May 2009. As a consequence, Thomas Schroepfer has tendered his resignation which the Board of Directors has accepted effective immediately.

Mr. Roth further announced that the Board has elected him as President and Tammy Dunn as Secretary and CFO, effective immediately, in replacement of Mr. Schroepfer, whom SFI thanks for his past contribution to the Company and wishes him well. Mr. Roth stated also that he intends to conduct business as usual for the benefit of the Company, its customers and shareholders.

About Smokefree Innotec, Inc. (www.smokefree-innotec.com): Smokefree Innotec, Inc. is in the business of designing, developing, manufacturing and marketing hi-tech, nicotine and non-nicotine cigarette-like delivery devices which are completely smoke and vapor-free and tobacco-free. Smokefree Innotec's products are designed to protect the non-smoker from second hand smoke and all its effects while providing the smoker a way to enjoy a smoke-free cigarette anywhere, including places where vapor emissions are offensive or smoking tobacco or similar substances is prohibited. Further, our products will allow the smoker to enjoy smoking either nicotine or flavored non-nicotine cigarettes while not having to worry about the offensive dangers and ill effects of regular cigarette smoking. However Smokefree Innotec products are not intended for any prevention or therapeutic treatment of any disease.

A number of statements referenced in this Press Release are forward-looking statements, which are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, and goals, assumption of future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this Release may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur. Such statements reflect the current views of Smokefree Innotec Inc. with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services, and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses, and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. Smokefree Innotec Inc. does not undertake any responsibility to update the "forward-looking" statements contained in this news release. Disclosures made in this Press Release are limited by good business practice and to that permitted to the public by applicable securities regulations, both Federal and State, including rights granted to shareholders under the Nevada Revised Statutes NRS 78.257 regarding limitations of preferential and selective disclosure of confidential Company information.

Contact Information

  • Contact:
    Smokefree Innotec, Inc.
    George Roth
    CFO
    +1 949-309-2778