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CHATSWORTH, Calif. -- NEwhere Premium Vapor Products is taking steps to grow its reach via a financing agreement with Bibby Financial Services Inc. The pact is for up to $4.7 million.
"The electronic vapor industry is a fast-paced and ever-growing industry with hundreds, if not thousands of companies, all striving to be the best. This financing from Bibby Financial Services allows us to continue our mission to set ourselves apart from the competition and continue to offer exactly what our customers are looking for ... a higher quality, better-tasting and more attractive product," said Ali Esmaili, CEO of NEwhere.
The financing will help NEwhere develop a larger presence in current regions, while expanding into additional national and international regions. It will also allow the company to create and implement a comprehensive marketing and advertising plan to increase brand recognition.
The agreement comes as NEwhere has inked partnership deals with various retailers. In the past 30 days, the company has built up its presence from five West Coast states to retail outlets in every state in the continental United States and Hawaii. NEwhere is also now available in five provinces across Canada.
Chatsworth-based NEwhere Premium Vapor Products is a marketer and distributor of electronic cigarettes, e-hookahs, e-liquids and rechargeable vaporizer products.