GOLDEN, COLORADO, January 6, 2016 – Electronic Cigarettes International Group, Ltd. (The “Company”) (OTCBB: ECIG), a distributor and retailer of vaporizers and e-liquids, and Fontem Ventures today announced they have reached a settlement agreement that resolves ongoing litigation in the USA.
“The global settlement agreement is yet another hurdle overcome by ECIG over the past eight months, which again demonstrates the Company’s long-term commitment to the industry,” said Dan O’Neill, Chief Executive Officer of Electronic Cigarettes International Group, Ltd.
“We are very happy with the agreement reached with Fontem and remain focused on our goal of continuous profitable growth,” added Dan O’Neill.
Under the terms of the settlement, Fontem Ventures has granted Electronic Cigarettes International Group, Ltd., a non-exclusive royalty-bearing global license under the patents asserted in the litigation and certain other e-vapor technology related patents. The remaining settlement terms are confidential.
About Electronic Cigarettes International Group, Ltd. (ECIG)
Electronic Cigarettes International Group (ECIG) is dedicated to providing a compelling alternative to traditional cigarettes for the more than 1 billion current smokers around the world. ECIG offers consumers a full product portfolio that incorporates product quality and the latest technology. The Company’s website is www.ecig.co.
About Fontem Ventures
Fontem Ventures, headquartered in the Netherlands and present on two continents, is an innovative consumer goods company, founded in 2012, committed to developing a portfolio of products that meet consumer needs, including the highest quality electronic vaping products.
Safe Harbor Disclosure
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statement reflecting management’s current expectations regarding future results of operations, economic performance, financial condition and achievements of ECIG, including statements regarding ECIG’s expectation to see continued growth. Forward-looking statements, specifically those concerning future performance are subject to certain risks and uncertainties, and other factors are disclosed in the Company’s filings with the Securities and Exchange Commission. Unless required by applicable law, ECIG undertakes no obligation to update or revise any forward-looking statements.
For investor inquiries please contact:
The Piacente Group, Inc.
Don Markley, 212-481-2050
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