Carlsbad-based FreeButton Inc. has entered into a non-binding letter-of-intent to acquire A1 Vapors Inc., a product development and marketing firm.
FreeButton is a development-stage business that develops consumer products and services. A1 Vapors, based in Florida, conducts product development and marketing to the electronic vapor cigarette industry.
Under the terms of the letter-of-intent, FreeButton will purchase all of the assets of A1 Vapors. Consideration for the purchase will, according to a release, be approximately 21 million restricted shares of FreeButton common stock.
The terms of the agreement and consummation of the contemplated transaction are subject to legal and confirmatory due diligence, board approval and the execution of definitive agreements satisfactory to both parties.