Attached files
Exhibit 99.1
Level Brands Initiates Transaction with Two Brand Management
Clients
Kure Corp. Announces Master Purchase Agreement with Retail
Innovator SG Blocks for Strategic Kure Vape Pod™ to be
Launched in
2018
CHARLOTTE,
N.C., Dec. 12, 2017 /PRNewswire/ -- Level Brands, Inc. (NYSE
American:LEVB), an innovative marketing and licensing company that
provides bold, unconventional and socially responsible branding for
leading businesses, announced today that it
has initiated a transaction between two of its license and brand
management clients, Kure Corp., one of America’s leading
specialty vape retailers based in Charlotte, NC, and SG Blocks,
Inc. (NASDAQ:SGBX), a leading designer, innovator and fabricator of
container-based structures based in Brooklyn, NY. Kure has entered into a Master
Purchase Agreement for the purchase of 100 SG Blocks’
repurposed shipping containers for its Kure Vape Pod™
initiative. The initial six SG Blocks’ containers are
scheduled for delivery in the first quarter of 2018. It is
anticipated that Kure will subsequently accelerate its draw down on
its additional units of inventory once the initial Kure Vape
Pods™ are operational and additional location sites are
secured. Level Brands provided a $500,000 secured project finance
facility to Kure to facilitate the completion of the initial
development phase. Each of the premier Kure Vape Pod™ designs
will utilize two of SG Blocks’ containers. Based upon the
Master Services Agreement, if all 100 units are purchased, the
total contract value is expected to exceed
$3,750,000.
“Kure, led by its incredible CEO Craig Brewer, is a leader in
the vaping lifestyle movement, which
we believe is healthier than tobacco and traditional cigarettes,
and SG Blocks is the foremost innovator and leader in the field of
repurposed, container-based structures. The partnership between
these two revolutionary industry leaders is the first of many such
synergistic opportunities and is a great example of the disruptive
thinking that drives Level Brands’ business
philosophy,” says Kathy Ireland®, Chairman Emeritus and
Chief Brand Strategist of Level Brands. “Level Brands is
dedicated to propelling the world’s most disruptive brands,
with the unique ability to leverage brands’ needs and
capabilities, and to capitalize on those opportunities. The
possibilities at Level Brands are truly
exciting.”
“We are pleased to have brought together these two visionary
clients, and we look forward to their future success and
growth,” says Martin Sumichrast, President and CEO of
Level Brands. “We
believe the Kure-SG Blocks partnership will generate income to
Level Brands at various points, from residual fees from SG Blocks,
to license fees from Kure, and to project finance
fees.”
“We are excited about this next growth phase for Kure, and
our partnership with Paul Galvin and SG Blocks. This innovative,
green building structure is a perfect fit for the Kure Vape
Pod™,” says Craig Brewer, CEO of Kure Corp. “All
of us at Kure have prided our success on delivering the
country’s optimum high-end vape lifestyle experience. Kathy
is an incredible leader, and her team’s business savvy and
forward thinking vision is secondary to none. This cool new retail
space will boast the same atmospheric, lounge-like, take-a-seat
environment that has made our Kure Vaporiums™ a favored place
for millennials to hang out and connect. Likewise, we are
developing our new I’M1 e-Juice brand, which we will also
hold to the same level as our Kure
Vaporiums™.”
Tommy Meharey, Marine, Millennial, Father and Co-Founder of Ireland
Men 1 (I'M1) with Kathy Ireland, notes that “According
to statistics, the vaping industry will surpass $20 billion in
revenues by 2022. I’M1, for millennial men and the women who
love them, is another perfect opportunity for a license agreement,
and we are thrilled to soon be launching the new I’M1 e-Juice
brand with Kure.”
“Our collaboration with Level Brands is off to a great start,
and we are pleased the company brought us together with Kure. We
are experiencing increasing demand for our eco-friendly repurposed
solutions, an important tenet for millennials, and we expect the
Kure Vape Pods™ rollout to be met with great success,”
says Paul M. Galvin, Chairman, Chief Executive and Founder of SG
Blocks. “Additionally, I’m excited to be teamed with
Level Brands, a company that is committed to social responsibility,
with each partner, client, and licensee supporting its
Millennium Development Goals to improve the condition of lives
around the world.”
About Level Brands, Inc. (www.LevelBrands.com)
Level
Brands creates bold, unconventional and socially responsible
branding for leading businesses. With a focus on corporate brand
management and consumer products marketing art, beauty, fashion,
health & wellness including the beverage space, entertainment,
and real estate. Licensed brand marketing is at the core of the
Level Brand businesses: Ireland Men One or I'M1, for millennial men
and the women who love them; Encore Endeavor One or EE1, corporate
brand management and producer of experiential entertainment events
and products across multiple platforms; kathy ireland® Health
& Wellness; Beauty & Pin-Ups, Level Brands' hair care and
disruptive women's products brand.
About KURE Corp (www.KUREsociety.com)
KURE
Corp. ("KURE") is a private company based in Charlotte, North
Carolina that specializes in the distribution of vaporizing
pens, e-Juices, and related accessories through its specialty
retail stores and online distribution. KURE's primary products are
its distinct line of custom blended high-end flavored e-Juices,
premium KURE brand vaporizers, as well as popular third party
brands of advanced hardware and select eLiquids. All KURE products
are available online and throughout its many store locations
across the United States. KURE Vaporium™, KURE
Society™, Kuriousity™, Kurators™ are all
respective trademarks of KURE Corp. KURE's executives and
principals are seasoned business entrepreneurs with decades
individual expertise in taking start-ups from initial incubation to
profitability. KURE's support staff has extensive product
distribution and related industry experience. Its e-Juices can be
purchased pre-bottled or freshly mixed by its staff of "Kurators",
well trained and experienced mixologists who can "blend" over
500,000 unique flavors from the KURE Juice On Tap™ bar. These
KURE e-Juices are skillfully blended and served while customers
shop, lounge and enjoy a selection of coffees, beverages, and
snacks or simply vape and mingle with other like-minded
enthusiasts.
About SG Blocks, Inc. (www.sgblocks.com)
SG
Blocks, Inc. is a premier innovator in advancing and promoting the
use of code-engineered cargo shipping containers for safe and
sustainable construction. The firm offers a product that exceeds
many standard building code requirements, and also supports
developers, architects, builders and owners in achieving greener
construction, faster execution, and stronger buildings of higher
value. Each project starts with GreenSteel™, the structural
core and shell of an SG Blocks building, which is then customized
to client specifications.
About Ireland Men 1 (I’M1)
I'M1, for
millennial men, and the women who love them, is a lifestyle
brand ideal for men who take pride in their appearance, thrive on
quality and value what matters. I'M1 was co-founded by Kathy
Ireland and Tommy Meharey - Marine, millennial father, global
fashion model, concert producer, Vice President
of kathy
ireland® Weddings & Resorts, as well
as the youngest Board of Directors member
of kathy
ireland® Worldwide. The I’M1
license portfolio includes I'M1 Suits, bespoke, tailored offerings
in partnership with André Phillipe; I'M1 Eyewear by Looseleaf;
and I'M1 e-juice by Kure. I'M1 is a subsidiary of Level
Brands, Inc. (NYSE: LEVB)
Forward-Looking Statements
This press release may include ''forward-looking statements.'' To
the extent that the information presented in this presentation
discusses financial projections, information, or expectations about
Level Brands, Inc.'s business plans, results of operations,
products or markets, or otherwise makes statements about future
events, such statements are forward-looking. Such
forward-looking statements can be identified by the use of words
such as ''should,'' ''may,'' ''intends,'' ''anticipates,''
''believes,'' ''estimates,'' ''projects,'' ''forecasts,''
''expects,'' ''plans,'' and ''proposes.'' Although Level Brands,
Inc. believes that the expectations reflected in these
forward-looking statements are based on reasonable assumptions,
there are a number of risks and uncertainties that could cause
actual results to differ materially from such forward-looking
statements. You are urged to carefully review and consider any
cautionary statements and other disclosures, including the
statements made under the heading "Risk Factors" in Level Brands,
Inc.’s Offering Statement filed with the Securities and
Exchange Commission (the "SEC")
and Level Brands, Inc.’s SEC reports. Forward-looking
statements speak only as of the date of the document in which they
are contained, and Level Brands, Inc. does not undertake any duty
to update any forward-looking statements except as may be required
by law.
Contact:
MDC Group
Investor
Relations:
David
Castaneda
414.351.9758
IR@LevelBrands.com
Press
Inquiries for Level Brands:
Susan
Roush
805.624.7624
PR@LevelBrands.com
Press
Inquiries for Kathy Ireland® /kathy
ireland® Worldwide/
Kure Corp:
Rona
Menashe
310.246.4600
rona@guttmanpr.com
Investor
Relations for SG Blocks:
MZ North America
Chris Tyson
949-491-8235
chris.tyson@mzgroup.us
Media
Inquiries for SG Blocks:
Rubenstein Public Relations
Kati Bergou
212-805-3014
kbergou@rubensteinpr.com
An artist rendering of an interior of one of the Vape Pods –
source: Kure Corp.
