Axcentria Pharmaceuticals, LLC agreed to acquire all the assets of FIN Branding Group, LLC from Electronic Cigarettes International Group, Ltd. (OTCPK:ECIG.Q) for $0.41 million.
June 07, 2017
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Axcentria Pharmaceuticals, LLC agreed to acquire all the assets of FIN Branding Group, LLC from Electronic Cigarettes International Group, Ltd. (OTCPK:ECIG.Q) for $0.41 million on June 8, 2017. Under the terms, Axcentria Pharmaceuticals will pay $0.03 million at closing, 50% of the inventory value upon consumption for a period of 6 months which is projected at $0.2 million and 6% of net sales for a period of two years estimated at $0.18 million paid monthly upon completion. On June 8, 2017, the deal was approved from the bankruptcy court.
Electronic Cigarettes International Group Ltd is a United States-based company. The Company is an independent marketer and distributor of vaping products and e-cigarettes. The e-cigarettes are battery-powered products that simulate tobacco smoking through inhalation of nicotine vapor without the fire, flame, tobacco, tar, carbon monoxide, ash, stub, smell and other chemicals found in traditional combustible cigarettes. The Company accommodates the various product preferences of e-cigarette users by offering a set of products, including disposables, rechargeables, tanks, starter kits, e-liquids, open and closed-end vaping systems and accessories. Its products consist of components and nicotine liquids. Its global brand portfolio includes the FIN, VIP, VAPESTICK, E-CIG, PRO VAPOR and VICTORIA brands. The Company offers E-cigarette cartridges in a range of flavors.
Axcentria Pharmaceuticals, LLC agreed to acquire all the assets of FIN Branding Group, LLC from Electronic Cigarettes International Group, Ltd. (OTCPK: ECIG.Q) for $0.41 million.
ELECTRONIC CIGARETTES INTERNATIONAL GROUP, LTD. 
