News Release 11/14/2013
News Release 11/14/2013
VICTORY ELECTRONIC CIGARETTES ENTERS INTO AGREEMENT WITH MAJOR US DISTRIBUTION GROUP
Distribution Services Support Nearly 30,000 Retail Locations
Facilitates Expansion to National Convenience and Independent Accounts
SPRING LAKE, MICHIGAN, November 14, 2013 – Victory Electronic Cigarettes Corporation (OTCQB:ECIG), one of the emerging leaders in the electronic cigarette industry, today announced that it has entered into a major distribution agreement with one of the largest distributors to the convenience store industry in the US to expand its portfolio of Electronic Cigarettes throughout the United States. The distributor is one of the leading suppliers of packaged consumer products in North America serving nearly 30,000 retail stores, including traditional convenience retailers, grocers, mass merchandisers, drug, liquor and specialty stores, and other stores that carry consumer packaged goods.
Victory noted that under this agreement, it expects to provide its distinctive brand and portfolio of disposable and rechargeable electronic cigarettes and starter kits to all of the distribution centers across the United States, and has already begun shipments to supply the first seven of these locations. Victory is working with each of the other distribution centers to complete the expansion and expects to be delivering to customers from all distribution centers by the end of the first quarter in 2014.
Brent Willis, Chairman and Chief Executive Officer of Victory, commented, “We are very excited to have entered into this agreement, which can serve as a cornerstone to our US retail development strategy. Victory has made significant investments to build competitive advantage in its supply chain to enable delivery of its portfolio at the lowest costs with the highest quality for its retail partners. Victory has been methodically expanding its US retail distribution since its initial launch in March of 2013 from this platform. This agreement furthers that commitment and provides an excellent springboard for further expansion.”
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.
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.