News Release 10/22/2013
News Release 10/22/2013
VICTORY ELECTRONIC CIGARETTES ENTERS INTO COMPREHENSIVE DISTRIBUTION AGREEMENT WITH CST BRANDS, INC.
SPRING LAKE, MICHIGAN, October 22, 2013 – Victory Electronic Cigarettes Corporation (OTCQB:ECIG), one of the emerging leaders in the electronic cigarette industry, today announced a major expansion of its U.S. retail business by enterint into a comprehensive distribution agreement with CST Brands, Inc. (NYSE:CST), one of the largest independent retailers in North America.
CST Brands is a Texas-based company that was created via an independent spinoff from Valero Energy Corporation on May 1, 2013. CST Brands is the largest independent retailer of transportation fuels and convenience goods in North America, reaching thousands of customers every day across nearly 1,900 retail locations operating under the well-known and highly regarded owned and licensed brands, including Corner Store and Valero.
Victory Rapidly Expanding Retail Distribution
Victory began retail expansion in March of 2013 and has since gained exclusive distribution and has been named category captain in a number of accounts, resulting in rapid growth. Victory has now begun shipments in the initial rollout to CST's retail locations. Victory's distinctive brand and assortment of rechargeable and disposable electronic cigarettes will be prominently displayed in the Corner Stores, which Victory believes will reinforce its increasingly strong competitive position in the retail marketplace.
Brent Willis, Chairman and Chief Executive Officer of Victory, commented, "We are very pleased to have secured such a strong, anchor partner for the development of our retail growth strategy. CST Brands is a world-class retailer with an outstanding footprint and great growth potential. We are excited about this partnership and confident that Victory's distinctive brand identity and preferred 'real tobacco taste' will continue to resonate well with consumers."
About Victory Electronic Cigarettes
Victory 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.
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.