KNOXVILLE, Tennessee, October 2, 2015 /PRNewswire/ —
Breathe 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.
The 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.
Josh 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.”
About Breathe eCig Corp. (OTCQB: BVAP)
Breathe 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 development, consumer outreach and education, Breathe challenges the e-cig industry establishment. To find out more, visit http://www.breathecig.com .
DISCLAIMER – Caution Concerning Forward Looking Statements
This press release contains statements that are “Forward-Looking” in nature (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). All statements regarding the Company’s financial position, potential, business strategy, plans and objectives for future operations are Forward-Looking statements. Many of these statements contain words such as “goal,” “hopes,” “aims,” “may,” “expect,” “believe,” “intend,” “anticipate,” “estimate,” “continue,” “would,” “exceed,” “should,” “steady,” “plan,” “potential,” “dramatic,” and variations of such words and similar expressions identify Forward-Looking statements, but their absence does not mean that a statement is not a Forward-Looking statement. Because Forward-Looking statements involve future risks and uncertainties, there are many factors that could cause actual results to differ materially from those expressed or implied. The Company cannot predict the actual effect these factors will have on its results and many of the factors and their effects are beyond the Company’s control. Any forward-looking statement made by the Company speaks only as of the date on which it is made. The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise. Given these uncertainties, you should not rely too heavily on these forward-looking statements.
Information for the Educated Investor
For further information regarding these and other risks related to Breathe eCigs’ business, investors should consult Breathe eCigs’ filings with the Securities and Exchange Commission, available at http://www.sec.gov .
Mr. Joshua Kimmel
Chief Executive Officer
SOURCE Breathe eCig Corp.