Vapor Group Inc (OTCMKTS:VPOR) refused to tick up or down even by a single cent during the last trading session. The company announced a development as it said that it had entered into a distribution arrangement with Resnick Distributors. The distribution agreement will help the company cover Northeast U.S. As per the press release, Resnick Distributors is into distribution of tobacco, cigarettes as well as other general merchandise and products.
Resnick distributes to nearly 1,500 retail locations spread across New York, New Jersey, Pennsylvania, Connecticut, Maryland, Delaware, North Carolina, Washington D.C. and several areas of Virginia. Vapor Group Inc (OTCMKTS:VPOR) said that Aleda Group acted as a broker for the deal. According to the terms of the agreement, Resnick will distribute the company’s Total Vapor E-Liquid and CE4 tanks as well as Vapor 123 Vaporizer starter kits. Resnick will sell these products in the capacity of a wholesale distributor.
During the press release, Vapor Group Inc (OTCMKTS:VPOR)’s CEO, Dror Svorai, said that the company is extremely delighted to enter into an agreement with Resnick Distributors. He said that the inclusion of Resnick in the company’s distribution arm is important as it will help the company to expand its footprint. He said that the company aims to boost its distribution in the northeast through the agreement. It is worth mentioning that Vapor Group Inc (OTCMKTS:VPOR) is engaged in production and marketing of a range of vaporizers and e-cigarette that work on electronic technology. Hence, Resnick, being a tobacco and cigarette distributor could offer many opportunities to the company.
Investors last heard from Vapor Group Inc (OTCMKTS:VPOR) in February when it announced the prepayment of its second debt installment. The company said that it repaid nearly $148,000 due on convertible promissory note. Meanwhile, it was strange that despite the positive announcement, the stock of the company fell by 0.67% to $0.00150 on Wednesday.
Vapor Group Inc (OTCMKTS:VPOR) closed at $0.00150 in its last trading session.