Kaival Brands Reaches Agreement with Philip Morris International for International Electronic Nicotine Delivery System Product Distribution

Patent, product development deal may significantly expand international reach of Bidi Vapor technology, formulation

GRANT, Fla., June 13, 2022 /PRNewswire/ -- Kaival Brands Innovations Group, Inc. (NASDAQ:KAVL) ("Kaival Brands," the "Company," or "we"), the U.S. distributor of all products manufactured by Bidi Vapor, LLC ("Bidi Vapor"), which are intended for legal-age nicotine users, today announced it reached an agreement with Philip Morris Products S.A. ("PMPSA"), a wholly owned affiliate of Philip Morris International Inc. ("PMI") (NYSE:PM), for the development and distribution of electronic nicotine delivery system ("ENDS") products in markets outside of the U.S., subject to market (or regulatory) assessment.