Published On: Wed, Jun 29th, 2016

Vape Holdings, Inc. (OTCMKTS:VAPE) Promotes Benjamin Beaulieu To CEO

Vape Holdings, Inc. (OTCMKTS:VAPE) has announced that it would be replacing Justin Braune, the current CEO, with Benjamin Beaulieu, the current COO of the company. The company has already filed a form 8-K for the disclosure, stating that Mr. Braune had resigned due to some personal reasons. The departing CEO also wished the best of luck to the management team. Vape Holdings is yet to announce a name for the vacant position of COO.

VAPE is a company focused on the provision of healthy and efficient vaporization products, to its consumers. Upon his recent promotion, Mr. Beaulieu stated that VAPE is currently well positioned to grow in the dynamic market. He also reaffirmed that the company would provide regular updates about the business and financial developments inside the company. It should be noted here that in the 8-K, the company had also disclosed that it had completed 90% of its debt refinancing program.

The new CEO was optimistic about the regulatory changes and the new product lines from the company. Mr. Beaulieu was also confident that his experience was ideal to execute an aggressive market expansion strategy from the control position.

In addition to the change in directors, the company also revealed that it had issued a total of 20.235 million shares of its common stock, in accordance with a partial conversion of an issued convertible note. As such, the company’s debt would be reduced by $28,936.05. Furthermore, the company’s number of common stock shares, outstanding, is now at 406.335 million. This was the second conversion, exercised by debtors, in less than a month’s time. Previously in May, a total of 10.413 million shares were issued by the company, in response to a convertible note of $21,191. Both of these notes had been issued in August 2015 and an update from the company had been provided in March 2016.

Vape Holdings, Inc. (OTCMKTS:VAPE) lost 10.53% of its share value, during the June 28 trading session, to reach a close at $0.0017 per share. The stock had a trade volume of 21.59 million.

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