Newgen Concepts Inc (OTCMKTS:VPOR) shares rose 50% on Tuesday when the company reported exclusive distributorship rights for its subsidiary.
Newgen Concepts Inc (OTCMKTS:VPOR) shares rose 50% on Tuesday to $0.00090 and were flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.00. The company has a market cap of $3.63 million at 4.04 billion shares outstanding.
Formerly known as Vapor Group Inc, Newgen Concepts Inc is an intellectual property, product development and worldwide marketing company which was formed to acquire, develop and capitalize on a portfolio of commercially viable intellectual property.
Based on this intellectual property portfolio, Newgen Concepts Inc intends to develop a portfolio of products and services to market, license and sell across the globe. Its product being developed from its portfolio is Simple Cork, which is a self-contained cork/bottle opener is usable by wineries across the world. Simple Cork is designed to revolutionize the packaging of wine by providing a level of customer convenience. The company focuses on various markets, including the United States and wine-producing European countries, France and Italy and its subsidiaries include Total Vapor Inc.
In a press release this week, Newgen Concepts Inc announced that Total Vapor Inc has become the exclusive worldwide distributor and a direct reseller of a new, revolutionary patent pending automatic grinder called Easy Grinder. This device is rechargeable, electronically controlled and made to be fast and non-clogging even when grinding an herb of high moisture content. The simple-to-use grinder includes a built-in storage area to hold an ample supply of unground herb.
In line with this, Total Vapor will roll out an ecommerce website specific to Easy Grinder, followed by the release of online videos on its use. Initial distribution will commence in mid-January this year. Suggested retail pricing of the product is anticipated to make it highly affordable for consumers, which will help it become the consumers’ “grinder of choice” for overall value, reliability and sophistication.
We are very excited about our new line of CBD oil-infused products which are high purity and many of which are suitable for vaping or topical use. All flavoring components are organic, and we will be offering over fifty different flavors in various concentrations.” He added, “We are today beginning the process of launching the nationwide marketing for our CBD line, and anticipate strong initial sales. This launch is only the first of many as we sharpen our focus on products for the growing MJ Market by the addition of many additional brands,” remarked Newgen Concepts Inc CEO Yaniv Nahon.
This marks Newgen Concepts Inc’s entry into the marijuana market, which is poised to boom to $20 billion by 2020. This follows the November 8 vote which legalized the use of medical or recreational marijuana in several states. In securing exclusive distributorship rights to Easy Grinder, Total Vapor Inc can establish a foothold in this niche market and open itself up for more seller rights to other products in the future, depending on how sales turn out.
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