Published On: Thu, Jun 30th, 2016

Vapor Corp (OTCMKTS:VPCO) Acquires Ada’s Natural Market Assets Aims To Expand In Florida

Vapor Corp (OTCMKTS:VPCO) has announced that it has successfully acquired assets from Ada’s Natural Market, including a grocery store in Ft. Myers, in Florida. It should be noted here that this acquisition was initiated through VPCO’s subsidiary Healthy Choice Markets Inc. Moreover, the acquisition was priced at a total of $3 million, paid in cash. The payment was excluding the adjustment of inventory levels of the store.

VPCO disclosed that it does not intend to make changes to the store. CEO of Vapor Corp, Jeffrey Holman, stated that the acquisition was in line with the company’s goal of diversifying Vapor Corp. He also disclosed that the management had been on the search for business opportunities to acquire and Ada’s Market seemed to be immediately profitable option.

The statement from the CEO was also backed by the COO of VPCO, Christopher Santi, who disclosed that the new store would serve as a flagship store for Healthy Choice Markets, in the region. He also stated that the store has been serving the area, for more than 40-years. The company plans to initially expand the store, within the state of Florida, before moving forward.

On June 1 VPCO disclosed that it had exercised a reverse stock split of 1 for 20,000, as had been approved by the stockholders of the company, on March 21, 2016. Consequently, every 20,000 shares of the company’s outstanding common shares would be merged into a single share of VPCO. Stockholders, who end up with a fractional share, would have that share rounded up to the next whole number. Prior to the exercise of this split, Vapor Corp had a total of 5 billion shares outstanding, which have now been reduced to 250,000. Equity Stock Transfer LLC has been appointed as the transfer agent and would handle the changes in certificates of stockholders.

Vapor Corp (OTCMKTS:VPCO) had a trade volume of 603.36 million, during the June 29 trading session, before reaching a close at $0.0003 per share. The stock gained 50% in terms of share value during the session.

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