DAYTONA BEACH, Fla.--(BUSINESS WIRE)--Vapor Group, Inc. (OTC Pink: VPOR) (“the Company”) secured a $210,000 purchase order for bulk CBD isolate from industry leader Diamond CBD, Inc., a wholly-owned subsidiary of PotNetwork Holdings, Inc. (OTC Pink: POTN). The deal, which is VPOR’s largest single order to-date, comes on the heels of a hugely successful April which saw the Company follow-up on their corporate restructuring initiative with nearly $300,000 worth of orders for the month.
In total, new orders have brought the Company to over $500,000 in just a few months, with the current deal continuing to establish VPOR as one of the premier providers of high-quality CBD isolate to the sector.
(Click here to watch a video about VPOR and their use of cutting-edge manufacturing facilities and processes.)
POTN is one of the dominant companies in the CBD industry, having recently reported year-end audited revenues of $25,583,761 for fiscal year 2018, an increase of 78 percent from the previous year. Their wholly-owned subsidiary, Diamond CBD, continues to be one of the most innovative retail and wholesale companies on the market today, offering consumers popular lines of CBD oils, edibles, creams, and more.
“We’re excited to be working with Diamond CBD, one of the better-known consumer brands in the CBD space,” said Vapor Group President and CEO David Zinger. “It’s proof-positive to both the industry and our shareholders that our plan is working, and that Vapor Group is quickly becoming a go-to leader in the CBD sector.”
CBD is gaining wider acceptance among mainstream Americans, especially in the heartland where recently Texas voted to allow farmers to grow industrial hemp. Entrepreneurs and established large chain retailers are embracing the CBD industry as well, as business owners begin to reflect on surveys that suggest that close to 7 percent of Americans currently use CBD, a figure that is expected to increase to as much as 10 percent or 25 million people by 2025. As a result, investment firm Cowen forecasts that sales of CBD consumer products in the U.S. could conservatively reach $16 billion by that year.
About Vapor Group, Inc.
Vapor Group, a publicly-traded OTC company, trading under the symbol VPOR, today is a holding company with its principal operating subsidiary being VPOR, Inc., www.VPOR.com. Vapor Group provides only premium bulk CBD products made from 100 percent industrialized organic hemp that is produced by top growers in the U.S. from states like Kentucky, Colorado, and Oregon. The Company works directly with B2B businesses in the sector to stay up-to-the-minute on the latest consumer trends in the category.
Vapor Group also is the owner of Simple Cork, Inc., www.simplecork.com, the developer of a new, multi-nationally patented combination wine bottle cork/opener being prepared for market entry.
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