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Veritas Farms, Inc. (VFRMD) is a prominent player in the hemp/CBD wellness industry. The company recently acquired ASYSTEM, a cutting-edge supplements brand known for its innovative products. Veritas Farms focuses on delivering high-quality products and is committed to driving growth through strategic partnerships and product development.
Veritas Farms (OTCQB: VFRM) has launched a new product line targeting specific health conditions, diverging from its previous focus on general wellness. The line includes six products: Stress Relief, Muscle & Joint Relief, Sleep Support, Immunity Boost, Heart Health, and Energy Boost, designed based on consumer needs for natural remedies. The company emphasizes its full spectrum hemp oil products, which utilize the entire hemp plant’s benefits. This strategic pivot aims to cater to the 82% of consumers seeking specific health solutions rather than general wellness.
Veritas Farms (OTCQB: VFRM) expands its product portfolio and distribution with Kroger Family of Stores. The new agreement includes a variety of new hemp oil cosmetic products, broadening its reach across 27 states and 1,200+ locations. Featured products include hyaluronic day cream, eye cream, and muscle relief sports cream. The CBD beauty market is projected to grow significantly, with $378 million in sales expected in 2021 and $804 million by 2026. The company operates a 140-acre farm in Colorado and offers third-party tested products.
Veritas Farms, Inc. (OTCQB: VFRM) has announced a retail distribution partnership test with Limelight Kiosks, focusing on full spectrum hemp extracts. This innovative concept allows consumers to shop for hemp/CBD products while providing valuable information. Limelight Kiosks will be placed in three major retailers in agreement with leading West Coast chains. Veritas Farms aims to enhance the shopping experience and provide retailers with a lower risk solution. The company's operations include a 140-acre farm in Colorado and a range of third-party tested products.
On May 11, 2021, Veritas Farms (OTCQB: VFRM) announced a significant change in leadership following a Securities Purchase Agreement with a shareholder, resulting in a 'Change in Control.' The agreement led to the resignation of CEO Alexander Salgado, who will focus on personal endeavors. Stephen Johnson, previously CEO of OmniComm Systems, has been appointed as the new CEO, bringing over 20 years of executive management experience. Under Johnson's leadership, the company aims to enhance its standing in the full spectrum CBD market.
Veritas Farms (OTCQB: VFRM) announced the promotion of Mike Krouskos to Chief Customer Officer, a newly created role. Krouskos, who joined the company in 2018, significantly contributed to Veritas' expansion into retail, helping to establish a presence in over 8,000 stores. CEO Alexander Salgado expressed confidence in Krouskos' capabilities to enhance the company’s retail, online, and direct segments. Veritas Farms is dedicated to providing high-quality hemp extracts and operates a 140-acre farm in Colorado.
Veritas Farms (OTCQB: VFRM) has launched new 250mg and 500mg Dog Tinctures available in Bacon, Chicken, and Natural flavors. The company now distributes its products in over 8,000 national retail stores and through its direct-to-consumer e-commerce platform. With a focus on the expanding CBD pet market, Veritas Farms aims to enhance its offerings in the pet wellness sector. The tinctures are made from full spectrum hemp oil and are all-natural, Non-GMO, and cruelty-free. CEO Alexander Salgado emphasizes the commitment to providing trustworthy wellness products for pets.
Veritas Farms, Inc. (OTCQB: VFRM) has launched a new 1000mg Chamomile PM Tincture designed to promote better sleep, now available in over 8,000 retail locations and online. The product combines full spectrum hemp oil with natural ingredients like chamomile, lavender, and lemon balm, providing a 30-day supply with each 30ml bottle. CEO Alexander Salgado emphasized the company's commitment to natural wellness alternatives. This launch adds to their expanding wellness product range for 2021.
Veritas Farms (OTCQB: VFRM) has appointed Thomas E. Vickers to its Board of Directors. With over 35 years of experience in corporate finance and operations, Vickers is the founder of Stack Financial, Inc. and has held various senior roles, including CFO at OmniComm Systems. He holds multiple degrees in finance and accounting and will serve on the Audit Committee. This addition aims to enhance Veritas Farms' financial strategy and growth, as expressed by CEO Alexander Salgado.
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