Healthier Choices Mgmt Corp (HCMC)

[CashBowski]

It's about the following press release which apparently is no longer valid.

Vapor Corp. Announces Intention to Conduct Registered Exchange Offer for Outstanding Series A Warrants

PR Newswire

DANIA BEACH, Fla., June 21, 2016

DANIA BEACH, Fla., June 21, 2016 /PRNewswire/ -- Vapor Corp. (OTCQB: VPCOD) (the "Company"), a leading U.S.-based distributor and retailer of vaporizers, e-liquids, e-cigarettes and e-hookahs, announced today that it intends to conduct a registered exchange offer to provide both $0.25 per Series A Warrant exchanged and a Series B Warrant of the Company in exchange for each of its outstanding Series A Warrants.

Each outstanding Series A Warrant currently represents the right to (1) effect a cashless exercise permitting the holder to receive shares of Company common stock under a formula set forth in the Series A Warrants or (2) purchase one share of common stock for $1.24 per share in a cash exercise. Currently, under the formula for a cashless exercise, each Series A Warrant represents the right to receive approximately 5,410 shares of common stock. As of June 20, 2016, there were 70,644,794 Series A Warrants issued and outstanding. All of the figures with respect to the Series A Warrants do not give effect to the two reverse splits of the Company common stock in 2016.

The terms of the Series B Warrants are expected to include the following features:

Each Series B Warrant will be exercisable into one share of Vapor common stock at an exercise price per share of $0.01.
The shares of Vapor common stock issuable upon exercise of the Series B Warrants will be registered for resale pursuant to a registration statement prior to issuance of the Series B Warrant.
The Series B Warrants will expire on July 30, 2021 compared to the expiration date of July 23, 2020 for the Series A Warrants.
Similar to the Series A Warrants, the Series B Warrants will contain a limitation under which exercise is not permitted to the extent that the holder or its affiliates would beneficially own in excess of 4.99% of the Company's outstanding common stock.
The Company expects to commence the exchange offer following the filing of a Form S-4 registration statement setting forth the terms of the exchange offer.