BETHLEHEM, Pa., March 28, 2019 (GLOBE NEWSWIRE) -- Xuan Wu International Group Holding Company  (OTC PINK: “XNWU”) announced today that it has acquired a controlling interest in Nano Vape Corporation (“Nano”), a Wyoming corporation, in an exchange of Nano common stock for convertible preferred voting stock of Xuan Wu resulting in a change of control of XNWU which is now controlled by Melvin Ehrlich, Ph. D., inventor of the new vaping technology, and members of his family. The share exchange, when fully completed, is expected to have the former Nano shareholders controlling 90% of the voting stock of XNWU.  XNWU plans to change its name to the Standard Vape Corporation to better reflect the new business.

Nano Vape Corporation was formed this year to exploit vaping technology; a portion of which is the subject of a recently filed provisional patent application. Nano intends to unveil a novel vaping device based upon the technology later this year. Dr. Ehrlich has become the sole director of XNWU and will be assembling a management team and expanded Board in the coming weeks.

To complete the realignment of the business Xuan Wu also entered into a definitive sale contract with Bethlehem IP Holdings, Inc., an entity controlled by the Swedish Tobacco Group (“STG”). STG will acquire the entire catalogue of trademarks of XNWU’s wholly owned subsidiary The Standard Tobacco Company of Pennsylvania, Ltd. for cash consideration of Fifty Thousand Dollars. The catalogue of trademarks includes iconic trade names War Horse, John Cotton’s, Bengal Slices, Dobie’s and Murray’s. These formerly British pipe tobacco brands were revived and sold by Pipes and Cigars under the Standard Tobacco name. Standard Tobacco retains the rights to use these marks on certain products outside the tobacco industry if it should choose to do so.

John Fruhmann, President of Xuan Wu, who has agreed to remain during a transition period, said: “We were able to acquire what we hope will be a vast improvement in the technology presently used to vape. Since the growth of the pipe tobacco business seemed to us to be limited by both regulation and the inherent size of the market, we feel that this acquisition provides enormous potential for seizing market share in a much larger and rapidly growing market with technology that we believe addresses many concerns inherent in the present vaping technology.”

Mel Ehrlich noted that, “The existing vaping technology has raised concerns associated with combustion products that we feel we will overcome and utilizing the technology from another related party company we may be able formulate healthier vapors for the vaping public. I, and my team, look forward to the synergy that we all feel should produce an exciting series of products possibly this year.”   

Legal Disclaimer

This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management's plans and objectives for future operations. Some or all of the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control.

Contact Information
Richard Oravec
Investor Relations
(212) 924-3548
info@pivoassoc.com