GOLDEN, Colo.–(BUSINESS WIRE)–Electronic Cigarettes International Group, Ltd. (The “Company”)
(OTCBB: ECIG), a distributor and retailer of vaporizers and
e-liquids, and Fontem Ventures today announced they have reached a
settlement agreement that resolves ongoing litigation in the USA.
“The global settlement agreement is yet another hurdle overcome by ECIG
over the past eight months, which again demonstrates the Company’s
long-term commitment to the industry,” said Dan O’Neill, Chief Executive
Officer of Electronic Cigarettes International Group, Ltd.
“We are very happy with the agreement reached with Fontem and remain
focused on our goal of continuous profitable growth,” added Dan O’Neill.
Under the terms of the settlement, Fontem Ventures has granted
Electronic Cigarettes International Group, Ltd., a non-exclusive
royalty-bearing global license under the patents asserted in the
litigation and certain other e-vapor technology related patents. The
remaining settlement terms are confidential.
About Electronic Cigarettes International
Group, Ltd. (ECIG)
Electronic Cigarettes International Group (ECIG) is dedicated to
providing a compelling alternative to traditional cigarettes for the
more than 1 billion current smokers around the world. ECIG offers
consumers a full product portfolio that incorporates product quality and
the latest technology. The Company’s website is www.ecig.co.
About Fontem Ventures
Fontem Ventures, headquartered in the Netherlands and present on two
continents, is an innovative consumer goods company, founded in 2012,
committed to developing a portfolio of products that meet consumer
needs, including the highest quality electronic vaping products.
Safe Harbor Disclosure
This press release contains forward-looking statements that are made
pursuant to the safe harbor provisions within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking statements
are any statement reflecting management’s current expectations regarding
future results of operations, economic performance, financial condition
and achievements of ECIG, including statements regarding ECIG’s
expectation to see continued growth. Forward-looking statements,
specifically those concerning future performance are subject to certain
risks and uncertainties, and other factors are disclosed in the
Company’s filings with the Securities and Exchange Commission. Unless
required by applicable law, ECIG undertakes no obligation to update or
revise any forward-looking statements.
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