VPR Brands settles patent litigation with R.J. Reynolds for $14.9M, grants perpetual license

VPR Brands, LP.

Received $14.9M from R.J. Reynolds Vapor Company to settle patent dispute and grant a non-exclusive, worldwide, perpetual license under U.S. Patent No. 8,205,622 B2.
License covers all past, current, and future 'Licensed Products' (vaping products) made by R.J. Reynolds and its affiliates.
Mutual releases of all claims related to the patent; litigation (Case No. 1:26-cv-00459) to be dismissed with prejudice.
R.J. Reynolds agrees not to challenge validity of the patent; VPR Brands covenants not to sue on Licensed Products.
Payment is non-refundable and due within 10 business days; VPR Brands will file 8-K disclosing material terms.

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