10719 Berlin, GERMANY / October 11, 2021 /Standard Vape Corporation (OTC PINK: SVAP; the
“Company” or “SVAP”) provides guidance to the market regarding the status of the previously disclosed litigation by Life Wellness, Inc. and Robert Kremer (the “Plaintiff”) against the
Company and sundry others (the “Defendants”).
Status of the Litigation
The Board of Directors of SVAP reports that, after a preliminary conference between the
Defendants’ lawyer, the Plaintiff’s lawyer, Allen Schwartz, Esq, and the Judge’s Clerk on
October 6, 2021, the New York Supreme Court issued an order staying discovery to allow the
filing of a motion by the Defendants to dismiss and to compel arbitration. It is apparent that
arbitration will be taken as to all monetary issues and that the motion to dismiss will be limited
to the assertion of statutory bars with respect to the claims by the Plaintiff that it may assert
ownership of 51% of the three companies involved, one of which is SVAP. The statutory bar,
supported by case law, indicates that no oral agreement such as the Plaintiff asserts to
purchase control of a corporation or, more generally, under the New York Statute of Frauds,
that no oral agreement for sales of securities or finders’ arrangements, will be enforced. The
motion to dismiss is to be filed by October 18, 2021 with the Plaintiff’s response brief due by
November 17, 2021 and the Defendants’ reply brief due by November 24, 2021.
This news 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. Forward-looking statements are projections of events,
revenues, income, future economics, research, development, reformulation, product or service
performance or management’s plans and objectives for future operations. Some or all 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 of which are not within management’s control.
Keith, Bayley, Rogers & Co. Limited*
Director, Corporate Finance
+44 7506 43 41 07 / Graham.Atthill-Beck@kbrl.co.uk
- Keith, Bayley, Rogers & Co. Limited intermediated as broker to the equity exchange
arrangements between Standard Vape Corporation and Fast Finance 24 Holding AG described
in press releases of March 8, 2021 and 12 May, 2021. Keith, Bayley, Rogers & Co. Limited is a
member of The London Stock Exchange and a member of Aquis Stock Exchange – AQSE. It is
authorised and regulated by the Financial Conduct Authority of the United Kingdom of Great
Britain and Northern Ireland.