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Virtual Medical International (OTC:QEBR) has appointed four new board members to strengthen its leadership team, focusing on the hemp-derived CBD sector. The new directors bring extensive experience in clinical medicine, corporate finance, and securities law, aiming to enhance the company's strategic direction and operational efficiency. The company is finalizing acquisitions related to CBD products and farming operations, positioning itself for significant growth in the wellness market. This expansion aligns with their goal to establish a comprehensive CBD-centric product line.
The Board of Directors of Virtual Medical International (OTC: QEBR) has appointed Anthony Moore as Chairman. With over 40 years of experience in global financial services, Moore previously held prominent roles at Goldman Sachs and as Chairman of Corporate Finance at Barclays Bank. CEO Larson Elmore expressed optimism about Moore's leadership amid ambitious growth plans. Moore aims to leverage his extensive network for strategic expansion in key regions. The company focuses on integrating CBD production, product development, and distribution, including the launch of CBD stores in the U.S. and Europe.
Virtual Medical International (OTC: QEBR) announced its acquisition of Cherry Valley Growers, securing a 400-acre hemp cultivation and processing site in New York for $2 million in cash. This move is a strategic expansion in the hemp-derived CBD sector following a distribution agreement with Cannonau Corp. Additionally, QEBR is purchasing an 11,560 sq. ft. warehouse in East Syracuse to enhance its production capabilities. The company aims to create a vertically integrated CBD business model through its subsidiary, Amsterdam Café, while renewing its CBD extraction license with state authorities.
Virtual Medical International Inc. (OTC: QEBR) announced a distribution agreement with Cannonau Corp (OTC: CNNC) effective April 30, 2021. This agreement allows QEBR to distribute Cannonau's Full-Spectrum CBD products globally through various sales channels, enhancing QEBR's presence in the CBD market. CEO Larson Elmore emphasized that this partnership marks a significant step in expanding their business. Cannonau's CEO, Carmen Carbona, expressed confidence in QEBR's capabilities to leverage their products effectively. Additional announcements are anticipated to follow.
Virtual Medical International (OTC: QEBR) has announced a collaboration with Natural Life to open 10 new whole health stores in Florida. This joint venture, part of a revenue-sharing agreement, is aimed at expanding Natural Life's franchise model, currently operating 4 stores. CEO Larson Elmore emphasized the opportunity to enhance QEBR's presence in the Southeast U.S. market. With a focus on quality products, the partnership will enable the establishment of a retail chain specializing in holistic health products, including over 300 CBD offerings. This growth comes amidst rising cannabis market optimism.
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