Smokefree Innotec Accepts Resignation of President Thomas Schroepfer Today
July 01 2011 - 9:57AM
Marketwired
George Roth, CFO, of Smokefree Innotec, Inc. (PINKSHEETS: SFIO), an
established international distributor of e-cigarettes
(http://www.sfio.us or http://www.realsmokefree.com), announced
that it has come to the attention of the Board of Directors of SFIO
that the United States Securities and Exchange Commission has
issued a press release today naming individuals allegedly engaging
in actions which may have involved federal securities law
violations, including one that describes SFIO's President Thomas
Schroepfer as having participated in a transaction the Company
believes involved a total of $40,000 in May 2009. As a consequence,
Thomas Schroepfer has tendered his resignation which the Board of
Directors has accepted effective immediately.
Mr. Roth further announced that the Board has elected him as
President and Tammy Dunn as Secretary and CFO, effective
immediately, in replacement of Mr. Schroepfer, whom SFI thanks for
his past contribution to the Company and wishes him well. Mr. Roth
stated also that he intends to conduct business as usual for the
benefit of the Company, its customers and shareholders.
About Smokefree Innotec, Inc. (www.smokefree-innotec.com):
Smokefree Innotec, Inc. is in the business of designing,
developing, manufacturing and marketing hi-tech, nicotine and
non-nicotine cigarette-like delivery devices which are completely
smoke and vapor-free and tobacco-free. Smokefree Innotec's products
are designed to protect the non-smoker from second hand smoke and
all its effects while providing the smoker a way to enjoy a
smoke-free cigarette anywhere, including places where vapor
emissions are offensive or smoking tobacco or similar substances is
prohibited. Further, our products will allow the smoker to enjoy
smoking either nicotine or flavored non-nicotine cigarettes while
not having to worry about the offensive dangers and ill effects of
regular cigarette smoking. However Smokefree Innotec products are
not intended for any prevention or therapeutic treatment of any
disease.
A number of statements referenced in this Press Release are
forward-looking statements, which are made pursuant to the Safe
Harbor Provisions of the Private Securities Litigation Reform Act
of 1995, and within the meaning of Section 27A of the Securities
Act of 1933 and Section 21B of the Exchange Act of 1934. Any
statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
and goals, assumption of future events or performance are not
statements of historical fact and may be "forward-looking
statements." Forward-looking statements are based on expectations,
estimates and projections at the time the statements are made that
involve a number of risks and uncertainties which could cause
actual results or events to differ materially from those presently
anticipated. Forward-looking statements in this Release may be
identified through the use of words such as "expects," "will,"
"anticipates," "estimates," "believes," or statements indicating
certain actions "may," "could," or "might" occur. Such statements
reflect the current views of Smokefree Innotec Inc. with respect to
future events and are subject to certain assumptions, including
those described in this release. These forward-looking statements
involve a number of risks and uncertainties, including the timely
development and market acceptance of products, services, and
technologies, competitive market conditions, successful integration
of acquisitions, the ability to secure additional sources of
financing, the ability to reduce operating expenses, and other
factors. The actual results that the Company achieves may differ
materially from any forward-looking statements due to such risks
and uncertainties. Smokefree Innotec Inc. does not undertake any
responsibility to update the "forward-looking" statements contained
in this news release. Disclosures made in this Press Release are
limited by good business practice and to that permitted to the
public by applicable securities regulations, both Federal and
State, including rights granted to shareholders under the Nevada
Revised Statutes NRS 78.257 regarding limitations of preferential
and selective disclosure of confidential Company information.
Contact: Smokefree Innotec, Inc. George Roth CFO +1
949-309-2778
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