The new location is part of a strategic move as the Company enters the billion-dollar cannabis market and bulk CBD business
DAYTONA BEACH, FL / ACCESSWIRE / March 13, 2019 / Vapor Group, Inc. (OTC PINK: VPOR) (”Vapor Group” or ”the Company”), and its Board of Directors approved the relocation of the Company’s headquarters and operations from its current locations in Aventura, and Hialeah, Florida to Daytona Beach. The move is part of a larger strategy to help Vapor Group integrate into the billion-dollar cannabis and CBD markets.
The Company’s new address is 495 Carswell Avenue, Unit A, Daytona Beach, Florida 32117.
Daytona’s economy, which is driven by thousands of local enterprises including cannabis clinics like Surterra Wellness, is one of the fastest growing in the nation. State officials report that companies in the area generate up to $437 million in exports and contribute a total of $15 billion in GDP annually within the Deltona-Daytona Beach-Ormond Beach Metropolitan Statistical Area (MSA), helping to push the region into the top 40 percent of all MSAs nationally.
”This move further positions us to expand into the burgeoning bulk CBD sector successfully,” said Vapor Group President and Chief Executive Officer David Zinger. ”We’re excited about the opportunity to join the thriving Daytona business community while delivering the profits that our shareholders deserve and desire.”
Vapor Group’s decision to relocate is also part of a larger restructuring process that eliminates its current subsidiaries, allowing the Company to concentrate on providing high-quality, bulk CBD isolate for those looking to enter the growing cannabis industry. It’s a move that should benefit all shareholders equally.
According to the Associated Press, in 2018 investors poured $10 billion into Canadian, Mexican, and U.S. cannabis businesses. The American hemp-CBD market is expected to grow to $22 billion by 2022, with the overall global cannabis industry predicted to be valued at $146.4 billion as early as 2025.
More updates concerning the restructuring of the Company will be announced in the near future.
About Vapor Group, Inc.
Vapor Group, www.vaporgroup.com, is a publicly traded OTC company, trading under the symbol, VPOR, and today is a holding company for several subsidiaries. Vapor Group is the owner of Simple Cork, Inc., www.simplecork.com, the developer of a new, multi-nationally patented combination wine bottle cork/opener being prepared for market entry.
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Safe Harbor Statement:
This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words “estimate”, “project”, “intend”, “forecast”, “anticipate”, “plan”, “planning”, “expect”, “believe”, “likely”, “should”, “could”, “would”, “may” or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company’s actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company’s ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company’s operating history and resources, economic, competitive, and equity market conditions.
Vapor Group, Inc.
SOURCE: Vapor Group Inc.
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