Vapor Group Inc (VPOR)

[TheWarrior71]

CLOSING DELAYED---DATE OF RECORD REMAINS

MIAMI, December 26, 2017 /PRNewswire via COMTEX/ -- MIAMI, December 26, 2017 /PRNewswire/ --

Vapor Group, Inc. (otc pink:VPOR), ("Company" or "Vapor Group"), announced today that the closing date of its asset sale of the intellectual property of its subsidiary, Simple Cork, Inc., to a fully-reporting SEC company, (the "PubCo"), anticipated to close on December 29, 2017 per the Letter of Intent ("LOI") between the companies as stated in the its press release of November 29, 2017, has been reset to after the first of the year. The new anticipated closing date is on or before January 31, 2017.

Important, the delay in closing does not change the announced "shareholder of record date" of December 29, 2017 which will be used as the ownership reference date for the subsequent distribution of registered shares of the PubCo after closing.

Yaniv Nahon, President, stated, "Working through the necessary due diligence as well as negotiating the various terms and conditions of the asset sale, is simply taking longer than we had anticipated since there are several complex valuation issues involved." He added, "We will update our shareholders further as negotiations progress and we get near to a closing."