Target Capital Announces Strategic Investment in Intev Technologies and Entry into the E-Cigarette, Vaporizer and E-Liquid Global Market

Published: September 10, 2019

Target Capital Announces Strategic Investment in Intev Technologies and Entry into the E-Cigarette, Vaporizer and E-Liquid Global Market

Target Capital Inc. has closed a strategic investment into Intev Technologies, LLC (“Intev”), a Brooklyn, New York based hardware technology company and the maker of Zepto, the first credit card sized vaporizer.

Intev has three operating divisions: (i) a Research & Development division for new innovations, intellectual property and proprietary heating technologies; (ii) a Consumer Electronic Division focused on ancillary devices designed for the cannabis industry; and (iii) a Consumer Products Division focused on premium and disposable electronic cigarettes and e-liquid products.

Intev’s debut consumer product is the Zepto vaporizer, a patented, luxury, sleek personal vaporizer device designed to fit seamlessly into people’s everyday lives. It boasts ground breaking features, including wireless recharging and smart button technology, giving the user superior control of the device. Its modular design is adaptable for use with other manufacturers’ e-liquid pods, establishing it as an industry leader in market adoption, resiliency, portability and consumer convenience. Interested parties can learn more at

According to Grand View Research, a global market research and consulting company, the global e-cigarette and vaping market size is projected to reach US$47.11 billion by 2025, expanding at a compounded annual growth rate (“CAGR”) of 23.8% during the forecast period. Burgeoning popularity of these products amongst users is expected to drive the market over the forecast period. The modular device category within the vaping market is expected to be the fastest growing segment, rising at a CAGR of 24.9% over the forecast period. Modular devices allow their users to adjust vapor output according to their preference. E-liquid is expected to exhibit a CAGR of 26.7%.

Pursuant to the investment agreement with Intev, Target purchased US$300,000 of 7.0% senior secured convertible debentures of Intev (the “Debentures”). The Debentures mature on September 9, 2021 and, on Target’s election, are convertible into common shares of Intev. At any time prior to the maturity date, Target has the right to initiate a go-public transaction, pursuant to which Intev would be listed on a recognized Canadian stock exchange by way of an initial public offering, plan of arrangement, amalgamation reverse take-over or other form of business combination, all in accordance with the terms of the investment agreement.

Proceeds from Target’s strategic investment will be used by Intev to continue to advance products through its development pipeline to commercial sales, broaden its distribution network as well as increase its marketing and sales budget for the Zepto product.

Target is a Calgary, Alberta based company executing on a cannabis focused investment strategy, where it intends to develop and manage a diversified portfolio of predominantly early stage cannabis investment opportunities. Target’s common shares are listed on the TSX Venture Exchange and the Canadian Securities Exchange under the trading symbol “TCI”.