News Release 9/19/2013
VICTORY ELECTRONIC CIGARETTES CORPORATION COMMENTS ON RECENT INCREASE IN STOCK PRICE AND MARKET DEMAND
- No material undisclosed information
- New public entity with limited shares available for current demand
- Continuing success with a highly disruptive technology
SPRING LAKE, MICHIGAN, September 19, 2013 - Victory Electronic Cigarettes Corporation (OTCQB:ECIG), one of the emerging leaders in the electronic cigarette industry, commented today on the recent increase in its stock price.
No Material Undisclosed Information
Victory’s management is unaware of any undisclosed material changes or corporate developments in Victory’s operations that would account for the level of the recent increase in the Company’s share price. Shortly after becoming a public entity on June 25, 2013, Victory released 1st half results that demonstrated growth of over 200% in revenue. Thereafter, Victory released information confirming continued growth in its online business, recent success with its retail expansion, and recent expansion in two major international markets. Beyond these previously communicated developments, the Company is unaware of any other material events that would impact the Company.
Limited Shares Available to Meet Demand
As a newly listed public company, with only a certain level of liquidity, Victory believes that there are not yet sufficient shares deposited for trading to meet the demand for the stock. Management believes that greater liquidity may result as additional shares are deposited.
Continuing Success in a Highly Disruptive Technology
As previously communicated, Victory is having success in implementing its business plan. The Company has added a significant number of national and regional retail accounts, international markets, and new online consumers. Retail distribution has been increasing and consumer demand has been equally robust.
Brent Willis, Chairman & CEO of Victory (former CCO and President at InBev (BUD), and a President in Coca-Cola Latin America (KO)) commented, “We are extremely excited to see the Victory brand connect with both customers and consumers. Our in-store marketing activities and resonance of our brand with consumers has exceeded our forecasts. We started selling at retail less than six months ago and expect to see continued growth in this area of our business both in the United States and abroad.”
Victory Electronic Cigarettes is dedicated to providing a cleaner and healthier alternative to smoking for all and intends to empower smokers to regain their freedom. Victory is one of the leading companies in this rapidly emerging and fast-growing market. The Company began online sales in 2012 and expanded to retail early in 2013. Victory 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. Recently public, Victory’s experienced, new management team is positioned to leverage its clearly differentiated and well-recognized brand, established online presence, and low-cost infrastructure to accelerate growth and drive significant value for its shareholders.
For investor inquiries please contact:
Partner, ICR, Inc.
This press release contains forward-looking statements reflecting management's current expectations regarding future results of operations, economic performance, financial condition and achievements of Victory, including statements regarding Victory’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: Victory’s reliance on additional financing, as Victory has not achieve profitability; risks associated with Victory’s products, including that they may pose a health risk; governmental regulations may impact Victory’s business; the market or consumers may not accept Victory’s products; Victory relies on a single class of products; existing or pending patents may affect Victory’s business; and other factors disclosed in the Company's filings with the Securities and Exchange Commission. Unless required by applicable law, Victory undertakes no obligation to update or revise any forward-looking statements.