VICTORY ELECTRONIC CIGARETTE CORPORATION SIGNS MAJOR DISTRIBUTION AGREEMENT ON ITS FIN BRAND WITH SPEEDWAY, LLC.
- Speedway to Carry the FIN brand portfolio in all 1,480 stores
- Strong Growth Potential with one of the Largest Gas and Convenience Store Chains in the United States
SPRING LAKE, MICHIGAN, March 24, 2014 – Victory Electronic Cigarettes Corporation (OTCQB: ECIG), one of the global leaders in the electronic cigarette industry, today announced that it has signed a major agreement to expand distribution of its FIN brand portfolio across all Speedway Convenience Stores throughout the United States. The agreement represents another major step forward for Victory Electronic Cigarettes Corporation in its efforts to expand distribution of its products, and is expected to have a material impact on revenue.
Speedway, LLC, based in Enon, Ohio, is the one the largest and fastest growing gas and convenience store chains in the United States, ranking fourth in overall revenue. With its modern and large footprint outlets that serve as destination for many on the go consumers, the convenience chain is one of the leaders in tobacco and tobacco related product sales. Speedway will now carry the full FIN brand portfolio of products in all of its 1,480 store locations, as one of its flagship brands offering superior merchandising and in-store marketing to help build the brand with its expanding consumer base.
This new distribution deal continues the Company’s efforts to build an industry-leading portfolio of retail distribution partners for the Company’s brands in the United States, and builds on its already larger than 50,000 store distribution footprint in the United States with a new flagship sales partner.
Brent Willis, Victory’s Chairman and Chief Executive Officer, commented, “We are very excited for this new partnership with Speedway, a clear leader in the market. They are a world-class retailer with beautiful bright and clean stores. We believe the FIN premium brand of Electronic Cigarettes will be an excellent strategic fit for Speedway, as the category accelerates its growth at the expense of lower margin traditional cigarettes. This partnership with Speedway is further validation of Victory’s strategy offering retailers a tiered, diversified brand strategy with a portfolio of brand options. The portfolio approach is gaining traction in key expansion markets worldwide, and provides the Company with a strong competitive position and enables the greatest value for our business, our customer partners and consumers.”
The Electronic Cigarettes International Group, Ltd. (ECIG) is dedicated to empowering smokers to choose an alternative to traditional cigarettes. ECIG is one of the leading electronic cigarette companies in the world, and owns the trademarks VAPESTICK®, FIN®, Victory®, GreenStix®, VIP® and others. The Company owns multiple subsidiary companies and has operations in North America, Latin America, Western Europe, and Asia. ECIG offers consumers a full product portfolio that incorporates the highest quality and latest technology, and has been rated as superior in real tobacco taste amongst major brands. The Company’s website is www.ecig.co
Safe Harbor Disclosure
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, 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. The forward-looking statements are based on the assumption that operating performance and results will continue to materialize consistent with recent trends. Management believes these assumptions to be reasonable but there is no assurance that they will prove to be accurate. Forward-looking statements, specifically those concerning future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include: ECIG’s reliance on additional financing, ECIG’s profitability and financial health, risks associated with ECIG’s products, including that they may pose a health risk; governmental regulations may impact ECIG’s business; the market or consumers may not accept ECIG’s products; ECIG relies on a single class of products; existing or pending patents may affect ECIG’s business; and other factors 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.
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