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Vapor Group, Inc., Issues Letter to Shareholders Providing Additional Information on Pending Transaction That Will Result in Issuance of Registered Shares to VPOR Shareholders of Record
Vapor Group, Inc., Issues Letter to Shareholders Providing Additional Information on Pending Transaction That Will Result in Issuance of Registered Shares to VPOR Shareholders of Record.
About this update from Vapor Group Inc
[{"type":"text","content":"\n\n\n\nVapor Group, Inc., Issues Letter to Shareholders Providing Additional Information on Pending Transaction That Will Result in Issuance of Registered Shares to VPOR Shareholders of Record\n\n\n\n\n\nVapor Group, Inc., Issues Letter to Shareholders Providing Additional Information on Pending Transaction That Will Result in Issuance of Registered Shares to VPOR Shareholders of Record\nPR Newswire\nMIAMI, December 1, 2017\n\n\n\nMIAMI, December 1, 2017 /PRNewswire/ --\n\nThe More Shares Of VPOR A VPOR Shareholder Owns On December 29, 2017, The More Shares He/She Will Receive In The PubCo… At No Cost To The Them… In The Transaction.  \n\nVapor Group, Inc. (OTC Pink: VPOR), (\"Company\" or \"Vapor Group\"), released today a \"letter to shareholders\" from its President, Yaniv Nahon, to clarify the recently announced pending sale of assets of Simple Cork and the share distribution to its shareholders that constitutes a portion of the payment for the assets: \n\n\"Dear Shareholders, \n\nSince we announced the Letter of Intent for the sale of the assets of Simple Cork, there have been many questions which I will try to address: \n\n1. The sale of the assets is scheduled to close on December 29, 2017. The buyer is a fully reporting SEC company. \n\n2. If you are a shareholder on that date, based on how many shares you own on that date, you will be entitled to receive shares of the buyer. In other words, for every \"x\" number of shares that you have in VPOR on December 29th, you will receive \"y\" shares of the purchaser. (Exact ratio to-be-announced.) That is, the more VPOR shares you have, the more of the purchaser's registered shares you will receive . The shares to be issued by the purchaser, which will be distributed to VPOR and its shareholders, will be new shares registered under an SEC S-1 registration statement prior to distribution. \n\n3. Vapor Group is selling the assets of Simple Cork to focus on its core revenue-producing businesses that are Easy Grinder™ and Royal CBD. Each of which is growing. \n\n4. Besides the assets, the buyer is also assuming a large portion of VPOR's debt burden including that of Simple Cork. This \"cleans up\" our balance sheet significantly. \n\n5. The company acquiring the Simple Cork assets will complete the development of the Simple...