SPRING LAKE, MICHIGAN--(Marketwired - March 25, 2014) - Victory Electronic Cigarettes Corporation (OTCQB:ECIG), one of the global leaders in the electronic cigarette industry, today announced that it has signed a major agreement to expand distribution of its FIN brand portfolio across all Speedway Convenience Stores throughout the United States. The agreement represents another major step forward for Victory Electronic Cigarettes Corporation in its efforts to expand distribution of its products, and is expected to have a material impact on revenue.
Speedway, LLC, based in Enon, Ohio, is the one the largest and fastest growing gas and convenience store chains in the United States, ranking fourth in overall revenue. With its modern and large footprint outlets that serve as destination for many on the go consumers, the convenience chain is one of the leaders in tobacco and tobacco related product sales. Speedway will now carry the full FIN brand portfolio of products in all of its 1,480 store locations, as one of its flagship brands offering superior merchandising and in-store marketing to help build the brand with its expanding consumer base.
This new distribution deal continues the Company's efforts to build an industry-leading portfolio of retail distribution partners for the Company's brands in the United States, and builds on its already larger than 50,000 store distribution footprint in the United States with a new flagship sales partner.
Brent Willis, Victory's Chairman and Chief Executive Officer, commented, "We are very excited for this new partnership with Speedway, a clear leader in the market. They are a world-class retailer with beautiful bright and clean stores. We believe the FIN premium brand of Electronic Cigarettes will be an excellent strategic fit for Speedway, as the category accelerates its growth at the expense of lower margin traditional cigarettes. This partnership with Speedway is further validation of Victory's strategy offering retailers a tiered, diversified brand strategy with a portfolio of brand options. The portfolio approach is gaining traction in key expansion markets worldwide, and provides the Company with a strong competitive position and enables the greatest value for our business, our customer partners and consumers."
Victory Electronic Cigarettes is dedicated to providing a cleaner and healthier alternative to smoking for all, and intends to empower smokers to regain their freedom. Victory is one of the leading companies in this rapidly emerging and fast-growing market. Victory offers consumers a full product portfolio that incorporates the highest quality and latest technology, and has been rated as superior in 'real tobacco taste' amongst major brands. Victory is well-positioned as the low-cost leader, with a differentiated portfolio of leading brands, and a distinct go-to-market approach to accelerate growth and drive significant value for its shareholders. The Company owns a range of brands and companies in key markets around the world, and has applied for patents on breakthrough technology, and operates the website at www.victoryecigs.com
Safe Harbor Disclosure
This press release contains forward-looking statements reflecting management's current expectations regarding future results of operations, economic performance, financial condition and achievements of Victory, including statements regarding Victory's expectation to see continued growth. The forward-looking statements are based on the assumption that operating performance and results will continue to materialize consistent with recent trends. Management believes these assumptions to be reasonable but there is no assurance that they will prove to be accurate. Forward-looking statements, specifically those concerning future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include: Victory's reliance on additional financing, as Victory has not achieve profitability; risks associated with Victory's products, including that they may pose a health risk; governmental regulations may impact Victory's business; the market or consumers may not accept Victory's products; Victory relies on a single class of products; existing or pending patents may affect Victory's business; and other factors disclosed in the Company's filings with the Securities and Exchange Commission. Unless required by applicable law, Victory undertakes no obligation to update or revise any forward-looking statements.