800-JR Cigar, Inc. Announces Completion of Merger With JRC Acquisition Corp.

WHIPPANY, N.J., Oct. 4 /PRNewswire/ -- 800-JR Cigar, Inc., (Nasdaq: JRJR), the world's largest retailer and distributor of premium cigars, is proud to announce today that it had completed its merger with JRC Acquisition Corp., a wholly owned subsidiary of L&LR, Inc., pursuant to a short-form merger, with 800-JR Cigar continuing as the surviving corporation after the merger. As a result of the merger, each outstanding share of common stock of 800-JR Cigar was converted into the right to receive $13.00 per share in cash, without interest thereon. JRC Acquisition Corp. had previously acquired approximately 93.6% of the outstanding 800-JR Cigar shares pursuant to a tender offer and privately negotiated purchases following the expiration of the tender offer.

800-JR Cigar sells over 150 brands of premium cigars, including 51 proprietary brands, and ranks as the largest single customer of most of the world's leading manufacturers of premium cigars. Along with cigars, 800-JR Cigar sells humidors, tobacco accessories and pipe tobacco. SOURCE 800-JR Cigar, Inc.

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