VPR Brands receives $500,000 prepaid royalty from licensee Elf Brand LLC

VPR Brands, LP.

Elf Brand LLC prepaid a $500,000 monthly royalty on March 1, 2023 under a License Agreement dated Jan 2, 2023.
License grants exclusive use of trademark 'ELF' (U.S. Reg. 5,486,616) and non-exclusive use of patent 8,205,622 for e-cigarette products.
Royalty is 5% of gross sales; exclusivity requires minimum $500,000 monthly royalty within six months of sales start.
Company may cancel exclusivity if minimum royalty expectations are not met.

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