Electronic Cigarettes International Group Strengthens Balance Sheet with $18.0 Million Financing from a Current Investor

Nov 02, 2015, OTCBB, ECIG OTC Disclosure & News Service Electronic Cigarettes International Group, Ltd. (The “Company”) (OTCBB: ECIG) today announced that on October 30, 2015 it completed an $18.0 million term loan financing with one of the Company’s long term investors. The new capital allows the Company to retire subordinate convertible debt, repay loans with interest rates as high as 27%, and provide the working capital to fund anticipated growth. The Company issued 40 million warrants as a component of the financing with an exercise price of $0.45, a 45% premium to the closing price of ECIG’s common stock on the day of funding. “The additional $18.0 million investment clearly demonstrates confidence in both the future of the category and in the new ECIG management team. These funds will allow the Company to purchase the inventory and marketing support needed to meet the growth targets in 2016,” said Dan O Neill, Chief Executive Officer of Electronic Cigarettes Internat
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