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VAPE Holdings Acquires BetterChem

Ryan Allway

July 1st, 2015

News, Uncategorized

VAPE Holdings Acquires BetterChem

 

[stockchart symbol=VAPE]

 

VAPE Holdings Inc. [stockquote symbol=VAPE], a holding company focused on providing healthy, efficient, and sustainable products to lawfully operating participants in the legal cannabis industry, recently announced that it has acquired control and 80% of the equity of Pennsylvania-based BetterChem Consulting Inc in exchange for restricted common stock and other share-based consideration based on performance over the next two years.

 

“BetterChem is a very important addition to the VAPE family of companies for the worldwide opportunities in essential oils that BetterChem has in its business base today, and also for the many synergistic opportunities for expansion drawn from combining the strengths of BetterChem into VAPE’s unique areas of expertise,” stated Kyle Tracey, Chief Executive Officer of VAPE. “VAPE expects to quickly expand BetterChem’s consulting services into cannabinoid research and product development, to the benefit of our clients and shareholders alike. Additional announcements will be made as existing clients are transitioned and new client relationships are contracted.”

 

Started in 2013 by Dr. Mark A. Scialdone following a distinguished career with E.I. DuPont de Nemours, the recently appointed Chief Science Officer of VAPE, BetterChem currently provides a wide range of chemistry consulting services in the US and overseas in plant essential oil extraction and refinement for use personal care products.

 

“BetterChem has worked with both small and large companies across the globe to deliver better and sustainable products and processes,” said Dr. Scialdone. “I am confident that this acquisition will provide a unique advantage to deliver value-added solutions for our clients.”

 

The acquisition by VAPE was accomplished with an exchange of 250,000 restricted common shares of VAPE in exchange for 80% of the issued and outstanding shares of BetterChem. The share exchange agreement provides for additional share based incentives depending on revenues achieved by BetterChem over the next two years.

 

Shares of VAPE Holdings Inc. jumped more than 11% in early trading on Wednesday, July 1, 2015 following the news release.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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