VPR BRANDS, LP (OTCMKTS:VPRB) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On March 13, 2017, VPR Brands, LP (the Company) entered into an
Engagement Letter, dated March 11, 2017, (the Engagement Letter)
with MAPH Enterprises, LLC (MAPH) to which MAPH agreed to provide
certain business advisory and consulting services in exchange for
payment by the Company of $75,000 and the issuance by the Company
of 600,000 restricted shares of Company common stock. The term of
the Engagement Letter begins on March 13, 2017 and ends on May 1,
2017. Either party may terminate the Engagement Letter prior to
its expiration upon written notice to the other party upon (a)
the failure of any party to cure a material default under the
Engagement Letter within five business days after receiving
written notice of such default from the terminating party; (b)
the bankruptcy or liquidation of either party; (c) the use by any
party of any insolvency laws; (d) the performance of MAPHs
services under the Engagement Letter; and (e) the appointment of
a receiver for all or a substantial portion of either parties
assets or business. If terminated, MAPH shall not be required to
perform any additional services beyond the termination date and
all fees described in the Engagement Letter shall be deemed
earned in full.
Item 9.01. Financial Statements and Exhibits
| Exhibit No. | Description |
| 10.1 |
Engagement Letter dated March 11, 2017 and entered into March 13, 2017, by and between VPR Brands, LP and MAPH Enterprises, LLC. |
About VPR BRANDS, LP (OTCMKTS:VPRB)
VPR Brands, LP, formerly Soleil Capital L.P., is a technology holding company. The Company is engaged in the electronic cigarette and personal vaporizer industry. The Company is also engaged in product development for the vapor or vaping market, including e-liquids. The Company owns a portfolio of electronic cigarette and personal vaporizer patents. It designs, markets and distributes a range of e-liquids under the HELUIM brand; designs, markets and distributes electronic cigarettes; prosecutes and enforces its rights; licenses its intellectual property, and develops private label manufacturing programs. The Company’s disposable electronic cigarettes feature a one-piece construction that houses all the components and is utilized until the nicotine or nicotine free solution is depleted. Rechargeable electronic cigarettes feature a rechargeable battery and replaceable cartridge. The personal vaporizers feature a tank and a chamber, a heating element and a battery. VPR BRANDS, LP (OTCMKTS:VPRB) Recent Trading Information
VPR BRANDS, LP (OTCMKTS:VPRB) closed its last trading session down -0.030 at 0.370 with 15,412 shares trading hands.
