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Vapor Group, Inc., Extends by 30 Days the Closing Date of the Pending Asset Sale by its Subsidiary, Simple Cork, Inc.
Vapor Group, Inc., Extends by 30 Days the Closing Date of the Pending Asset Sale by its Subsidiary, Simple Cork, Inc..
About this update from Vapor Group Inc
[{"type":"text","content":"\n\n\n\nVapor Group, Inc., Extends by 30 Days the Closing Date of the Pending Asset Sale by its Subsidiary, Simple Cork, Inc.\n\n\n\n\n\nVapor Group, Inc., Extends by 30 Days the Closing Date of the Pending Asset Sale by its Subsidiary, Simple Cork, Inc.\nPR Newswire\nMIAMI, December 26, 2017\n\n\n\nMIAMI, December 26, 2017 /PRNewswire/ --\n\nVapor Group, Inc. (OTC Pink: VPOR), (\"Company\" or \"Vapor Group\"), announced today that the closing date of its asset sale of the intellectual property of its subsidiary, Simple Cork, Inc., to a fully-reporting SEC company, (the \"PubCo\"), anticipated to close on December 29, 2017 per the Letter of Intent (\"LOI\") between the companies as stated in the its press release of November 29, 2017, has been reset to after the first of the year. The new anticipated closing date is on or before January 31, 2017.\n\nImportant, the delay in closing does not change the announced \"shareholder of record date\" of December 29, 2017 which will be used as the ownership reference date for the subsequent distribution of registered shares of the PubCo after closing.\n\nYaniv Nahon, President, stated, \"Working through the necessary due diligence as well as negotiating the various terms and conditions of the asset sale, is simply taking longer than we had anticipated since there are several complex valuation issues involved.\" He added, \"We will update our shareholders further as negotiations progress and we get near to a closing.\"\n\nAbout Vapor Group, Inc. \n\nVapor Group, http://www.vaporgroup.com, historically has been focused on the acquisition and development of commercially viable intellectual property and proprietary products. Vapor Group, is a publicly traded OTC company, trading under the symbol, VPOR.\n\nCryptoTechCurrency, Inc., which specializes in cryptocurrency mining, is a wholly-owned subsidiary of Vapor Group and a new addition to its family of businesses. \"Cryptomining\" is the fundamental methodology of earning and/or creating digital currencies such as Bitcoin, Litecoin and others, through the use of dedicated, specialized mining machines that perform complex mathematical functions to mine a cryptocurrency and also process cryptocurrency transactions. These machines operate 24-hours per day, 7-days per week within mining-dedicated, temperature-controlled server centers that pr...