Business
Breathe ECig Corp Repays and Retires $226,000 of its Outstanding Convertible Debt
Breathe ECig Corp Repays and Retires $226,000 of its Outstanding Convertible Debt.
About this update from White Fox Ventures, Inc.
[{"type":"text","content":"\n\n\n\nBreathe ECig Corp Repays and Retires $226,000 of its Outstanding Convertible Debt\n\n\n\n\n\nBreathe ECig Corp Repays and Retires $226,000 of its Outstanding Convertible Debt\nPR Newswire\nKNOXVILLE, Tennessee, October 2, 2015\n\n\n\nKNOXVILLE, Tennessee, October 2, 2015 /PRNewswire/ --\n\nBreathe eCig Corp. (OTCQB:  BVAP) (\"Breathe\" or the \"Company\"), an electronic cigarette industry innovator and pioneer, today announced more than $226,000 of its outstanding convertible debt has been retired. Additionally, the Company is currently in negotiations to retire the entirety of the remaining convertible debt. The Company has secured the capital to repay these debentures in a minimally dilutive manner, as Josh Kimmel, the Company's Chief Executive Officer, has pledged a percentage of his personal shares of the Company to secure a portion of the funding. The Company plans to file a Form 8-K with the Securities and Exchange Commission no later than October 6, 2015 regarding the terms and conditions of the funding.\n\nThe Company continues to make important strides with respect to its core business and plans several important corporate initiatives to increase revenue and market place visibility. The Company most notably is establishing a comprehensive marketing strategy for the New York City metropolitan area, as its products have now been successfully distributed to several hundred stores.\n\nJosh Kimmel expressed, \"The Company continues to make great progress in developing its business, however the convertible debt has caused the shareholders concern about the share price moving forward. As the largest single shareholder of the Company and its Chief Executive Officer, I chose to secure a portion of the capital by transferring some of my own personal shares to the investors to demonstrate my commitment to the Company and the shareholders.  I look forward to a prosperous and exciting future.\"\n\nAbout Breathe eCig Corp. (OTCQB:  BVAP)\n\nBreathe was founded in 2012 as a research and development company in Knoxville, Tennessee with the mission to develop a better e-cigarette than was available on the market. Now holding multiple patents (pending) for its groundbreaking product, BVAP, Breathe is not your typical e-cig manufacturer. With a commitment to remaining socially responsible through innovative product ...