SOURCE: VaporBrands International, Inc.
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).
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