VaporBrands International, Inc. announced that the company has entered into a Letter of Intent to form a joint venture with Marijuana, Inc. Under terms of the proposed joint venture, Marijuana, Inc., will assist VaporBrands with the development and distribution of specialized marijuana vaporizing products to be sold primarily through existing medical marijuana dispensary networks. In addition, VaporBrands and Marijuana, Inc. have agreed to research, develop and distribute vaporizer products specifically for the use of Hemp Oil in natural medicine. Marijuana, Inc. has also agreed to assist VaporBrands in expanding the retail distribution of its current and future electronic nicotine based cigarette products.

Based on the current and projected positive market conditions for legal marijuana (medical and recreational), the Company anticipates significant demand for VaporBrands and Marijuana, Inc. co-developed vaporizing products among a wide cross-section of users that are seeking the safest and most effective way to consume marijuana. The proposed joint venture forming transaction remains subject to, among other things, completion of satisfactory due diligence by all parties, and VaporBrands and Marijuana, Inc. entering into a definitive joint venture agreement. There can be no assurance that the transaction will be completed as proposed or at all.