$KAVL International Licensing Agreement between Ka
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Posted On: 07/25/2022 9:45:48 AM
$KAVL International Licensing Agreement between Kaival Brands & Philip Morris International Moves into Next Phase
https://www.prnewswire.com/news-releases/inte...92201.html
Bidi Vapor IP, patents, and development methods used to launch VEEBA outside of the U.S.
GRANT, Fla., July 25, 2022 /PRNewswire/ -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company," or "we"
, today reported on the launch of PMI's custom-branded self-contained e-vapor product, VEEBA, in Canada. This follows a recently announced international licensing agreement with Philip Morris Products S.A. Kaival Brands is the U.S. distributor of all products manufactured by Bidi Vapor, LLC ("Bidi Vapor" , which are intended for legal-age nicotine users.
The product, a self-contained e-vapor device, VEEBA, has been custom developed and is now being distributed in Canada, pursuant to the licensing agreement. The agreement covers the development, licensing, and distribution of ENDS products in certain markets outside of the United States, pending further regulatory assessments.
"The Agreement with Philip Morris Products was a remarkable accomplishment for the company and now we have advanced to the next phase of international distribution with the actual launch of their custom branded product, VEEBA. We are excited to support PMI's efforts to provide a range of alternatives compared to cigarettes. The commercialization of VEEBA complements PMI's already strong smoke-free portfolio, providing adult smokers with an even broader range of usage, taste, price, and technology options," said Eric Mosser, President and Chief Operating Officer of Kaival Brands.
The International Agreement grants to PMPSA a license of certain intellectual property rights relating to KBI's premium ENDS device, known as the BIDI® Stick in the U.S., as well as potentially newly developed devices, to permit PMPSA to manufacture, promote, sell, and distribute such ENDS device and newly developed devices, in certain international markets, outside of the United States, with potential royalties owed to KBI as per the terms of the Agreement.
https://www.prnewswire.com/news-releases/inte...92201.html
Bidi Vapor IP, patents, and development methods used to launch VEEBA outside of the U.S.
GRANT, Fla., July 25, 2022 /PRNewswire/ -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company," or "we"
, today reported on the launch of PMI's custom-branded self-contained e-vapor product, VEEBA, in Canada. This follows a recently announced international licensing agreement with Philip Morris Products S.A. Kaival Brands is the U.S. distributor of all products manufactured by Bidi Vapor, LLC ("Bidi Vapor" , which are intended for legal-age nicotine users. The product, a self-contained e-vapor device, VEEBA, has been custom developed and is now being distributed in Canada, pursuant to the licensing agreement. The agreement covers the development, licensing, and distribution of ENDS products in certain markets outside of the United States, pending further regulatory assessments.
"The Agreement with Philip Morris Products was a remarkable accomplishment for the company and now we have advanced to the next phase of international distribution with the actual launch of their custom branded product, VEEBA. We are excited to support PMI's efforts to provide a range of alternatives compared to cigarettes. The commercialization of VEEBA complements PMI's already strong smoke-free portfolio, providing adult smokers with an even broader range of usage, taste, price, and technology options," said Eric Mosser, President and Chief Operating Officer of Kaival Brands.
The International Agreement grants to PMPSA a license of certain intellectual property rights relating to KBI's premium ENDS device, known as the BIDI® Stick in the U.S., as well as potentially newly developed devices, to permit PMPSA to manufacture, promote, sell, and distribute such ENDS device and newly developed devices, in certain international markets, outside of the United States, with potential royalties owed to KBI as per the terms of the Agreement.
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