VPR Brands, LP announced that it has received $0.100001 million in funding
September 19, 2022
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VPR Brands, LP announced it has entered into definitive agreement with Kevin Frija for private placement of one unsecured promissory note at a price of $100,001 for gross proceeds of $100,001 on September 20, 2022. The principal amount due under the September 2022 Note bears interest at the rate of 24% per annum. Interest shall commence accruing on the date hereof, computed on the basis of a 365-day year.
The holder agrees that this note may not be sold, transferred, pledged, hypothecated or otherwise disposed of except as follows: (a) to a person whom the note may legally be transferred without registration and without delivery of a current prospectus under the 1933 Act with respect thereto and then only against receipt of an agreement of such person to comply with the provisions of this Section 1 with respect to any resale or other disposition of the note; or (b) to any person upon delivery of a prospectus then meeting the requirements of the 1933 Act relating to such securities and the offering thereof for such sale or disposition, and thereafter to all successive assignees.
VPR Brands, LP is a technology company with a focus on vaporizers and accessories for essential oils and extracts in the cannabis and hemp industry. The Company is engaged in various monetization strategies of its United States patents covering electronic cigarettes, vaporizer technologies, and related accessories. The Company designs, develops, markets, and distributes products oriented towards the cannabis markets, including the ELF and HONEYSTICK brands of vaporizers and DISSIM Lighters. The Company has several trademarks, including ELF, PHANTOM, HRB, VPOD, VAPOR X, RIPPER, and CARTDUB, among others, for which it is also engaged in licensing and various monetization strategies. The Company also designs, develops, markets, and distributes products (the HoneyStick brand of vaporizers and the Goldline cannabidiol (CBD) products) oriented toward the cannabis markets. The Company is also engaged in selling the DISSIM brand pocket lighters.