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The total capital investment in NJOY LLC, to support the acquisition and to capitalize the company, was $35 million, the majority of which came from lead investor Mudrick Capital Management. Today marks a fresh financial start for the NJOY brand, said Douglas Teitelbaum, Chairman and CEO of NJOY, LLC. With the completion of this acquisition and capital raise, we now have ample liquidity and can focus on delivering for our customers. I am excited to have the full support of our equity owners. As a former smoker who long ago switched to NJOY products, I sought to buy the company so that I might enable as many adult smokers as possible to make the switch I did. I am, therefore, particularly excited, on a personal level, to have the opportunity to represent the great NJOY brand. In addition to its commitment to provide the best products in thousands of retail locations nationwide and online at , NJOYs core mission is to offer millions of adult smokers satisfying, non-combustion alternatives to traditional combustion tobacco products. In addition, the Company is fully prepared to operate within the framework of the FDAs recently enacted final regulations, and has already begun the process of pursuing required premarket tobacco product authorizations. After completing its restructuring, NJOY is majority-owned by Mudrick Capital Management, a multi-billion dollar investment firm which specializes in corporate turnarounds, and Mr. Teitelbaums Homewood Capital.

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