Vapor Group, Inc. (VPOR) Issues Management Update; DEA Clarifies Cannabinoids Legality
VPOR Discusses Positive Effect Of U.S. Government Reclassifying CBD Enhanced Products From Schedule 1 to Schedule 3; Pending International Distribution Deals
MIAMI, October 16, 2018 /PRNewswire/ — Vapor Group, Inc. (OTC Pink: VPOR), (“Company” or “Vapor Group”), today released a Management Update discussing the positive effect of the U.S. Government’s reclassifying CBD enhanced products from Schedule 1 to Schedule 3 and discusses pending international distribution deals.
DEA Clarifies Cannabinoids Legality
Earlier this year, the Drug Enforcement Agency released an internal directive regarding the presence of cannabinoids in products and materials made from the Cannabis plant that clarified the position that cannabinoids are in fact not illegal of themselves and that it depends upon the legal source of the product those cannabinoids are in which determines if that product falls in or outside of the Controlled Substances Act. The directive states: “Products and materials that are made from the cannabis plant and which fall outside the CSA definition of marijuana are not controlled under the CSA. Such products may accordingly be sold and otherwise distributed throughout the United States without restriction under the CSA or its implementing regulations. The mere presence of cannabinoids is not itself dispositive as to whether a substance is within the scope of the CSA.”
“Accordingly, any product that the U.S. Customs and Border Protection determines to be made from the cannabis plant but which falls outside the CSA definition of marijuana may be imported into the United Stateswithout restriction under the Controlled Substances Import and Export Act. The same considerations apply to exports of such products from the United States, provided further that it is lawful to import such products under the laws of the country of destination.“
This change in status bodes well for the Company that has recently, through its wholly owned subsidiary, Royal CBD, Inc., launched a website at http://www.royal-cbd.com with an extensive line of over 30 high quality CBD oil products, including vapes, oils, creams, edibles and a specialized line for pets. All the products contain CBD derived from U.S.-sourced hemp and many are offered in a range of CBD oil concentrations to meet varying consumer needs and tastes.
Plus, since the directive allows for both exports and imports, the Company is in the process of expanding sales into Canada where the Company’s already speaking with numerous distributors to handle the Company’s products.
In that same vein, the Company has also engaged with a cutting-edge e-commerce marketing firm located in Israel, that is capable of vastly expanding Royal CBD’s sales footprint multi-nationally.
Yaniv Nahon President of the Company, said, “Since the DEA directive was released, we have taken steps to expand our marketing and sales of our products both nationally and internationally and will continue to provide updates as to our continued progress in this process. We firmly believe that these international associations will significantly increase the Company’s revenues.”
About Vapor Group, Inc.
Vapor Group, http://www.vaporgroup.com, is a publicly traded OTC company, trading under the symbol, VPOR, and today is a holding company for several subsidiaries.
The Company’s principal wholly-owned subsidiary, Total Vapor, Inc. is the worldwide distributor of the revolutionary, hand-held automatic Easy Grinder™. For more information or to place an order, visit http://www.easygrinder.com, visit Amazon.com at http://a.co/5HOPUkE, email [email protected] or call us at 844-420-EASY (3279). Easy Grinder™ is shippable to Canada.
CryptoTechCurrency, Inc., a wholly-owned subsidiary, specializes in cryptocurrency mining on a 24/7 basis of digital currencies such as Bitcoin, Litecoin and others.
Vapor Group also owns Vapor 123, Inc., an e-cigarette, vaporizer and e-liquid company.
If you have specific questions about the Company, please email us at [email protected].
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.
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