VaporBrands International to Form Joint Venture With Marijuana, Inc., a Subsidiary of Hemp, Inc., to Develop Medical Marijuana and Hemp Oil Vaporizer Products
LOS ANGELES, CA–(Marketwired – Jan 28, 2014) – VaporBrands International, Inc. (OTC Pink: VAPR) (the “Company” or “VaporBrands”) is pleased to announce that the Company has entered into a Letter of Intent to form a joint venture with Marijuana, Inc. (a wholly owned subsidiary of Hemp, Inc. (OTC Pink: HEMP)), a leading provider of products and services for the industrial hemp and medical marijuana industries.
Under terms of the proposed joint venture, Marijuana, Inc., will assist VaporBrands with the development and distribution of specialized marijuana vaporizing products to be sold primarily through existing medical marijuana dispensary networks. In addition, VaporBrands and Marijuana, Inc. have agreed to research, develop and distribute vaporizer products specifically for the use of Hemp Oil in natural medicine. Marijuana, Inc. has also agreed to assist VaporBrands in expanding the retail distribution of its current and future electronic nicotine based cigarette products.
“The same as with vaporized nicotine products, there are also numerous health and operative benefits of utilizing cutting-edge vaporizer technology to consume medical marijuana and hemp,” said Wendy Haviland, President of VaporBrands International, Inc. “Marijuana, Inc., and its CEO, Bruce Perlowin, is one of the most visible players in the both the hemp and marijuana legalization movements, so I can’t imagine a more experienced and well-connected partner for VaporBrands to team up with to launch exciting new products. We all look forward to finalizing this agreement in the next few weeks and building this into a long lasting partnership.”
Based on the current and projected positive market conditions for legal marijuana (medical and recreational), the Company anticipates significant demand for VaporBrands and Marijuana, Inc. co-developed vaporizing products among a wide cross-section of users that are seeking the safest and most effective way to consume marijuana.
