SAN DIEGO, Oct. 29, 2014 (GLOBE NEWSWIRE) -- ICON Vapor, Inc. (OTC Symbol 'ICNV') announced today that it has executed a Letter of Intent to acquire Green Tree (Green Tree) Syndicate, Inc.
ICON Vapor President Dan Balsiger noted, "We are pleased to announce the execution of an LOI to acquire Green Tree, an electronic cigarette sales and distribution company based in El Cajon, California. We believe Green Tree's current 'reach' into the convenience store marketplace via their relationship with Core-Mark, International, a leading distributor and marketer of consumer packaged goods to the convenience retail industry with sales reaching almost $10 billion, (Nasdaq:CORE) will help to substantially expand as well as accelerate ICON's current service delivery strategics."
Mr. Balsiger further commented that, "Once completed, we expect this acquisition to add substantial revenue FY 2015 to ICON's revenue stream in both the US and Canada. Additionally, our Green Tree initiative will involve deployment of the ICON Vapor brand in place of the current product provided by Green Tree. With this extraordinary opportunity to expand our business, we believe we will be able to achieve strong profitability for our company in 2015."
About ICON Vapor, Inc. (www.IconVapor.com)
Headquartered in San Diego, California, Icon Vapor engages in the manufacture and distribution of electronic cigarettes. The company offers disposable and starter kits e-cigarettes as well as cartomizers in tobacco and menthol flavors branded under the ICON Vapor Products line. For further information please contact the Company at:
(858.509.2783 or IR@IconVapor.com)
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