VELTEX CORP - VLXC STOCK NEWS

Veltex Corporation (OTCQB: VLXC) Announces 37th Annual Meeting of Shareholders on December 12, 2023, at Mount Hope Campus. Shareholders must present valid picture identification and proof of ownership of Veltex Corporation common shares to attend the meeting. Cameras and electronic devices are not permitted. Proxy materials can be received via the internet to vote on items at the meeting.

Veltex Corporation (OTCQB:VLXC) announced that its subsidiary, Veltex Recovery Group (VRG), has received approval to provide in-patient residential treatment at its facility in Mount Hope, West Virginia, starting November 28, 2022. The center will feature 28 licensed beds, primarily for women, addressing the critical need for substance use disorder (SUD) treatment in the region. Initial revenue is projected at $425 per day per resident, with plans for phased expansion to accommodate up to 500 residents. VRG has also partnered with various health services to enhance treatment offerings.

Veltex Corporation (OTCQB: VLXC) will hold its 36th Annual Meeting of Shareholders on December 20, 2022, at 10:00 a.m. local time at the Mount Hope Campus. Only shareholders of record can attend and must present valid identification and proof of ownership to gain entry. Proxy materials will be made available on or about November 10, 2022, with voting available for shareholders by mail, in person, or online. Any shareholder owning common stock as of November 1, 2022, is eligible to vote. For inquiries, contact Shareholder Services.

Veltex Corporation (OTCQB: VLXC) announced the recovery of 900,000 common shares valued at $450,000 and $1,681.62 in cash from Federal litigation in California. This recovery, linked to a previous fraudulent conveyance case against former management, follows a final judgment of over $100 million in favor of Veltex. The company intends to enforce all legal matters and keep shareholders informed about tax and legal developments. Veltex, incorporated in 1987, operates through its subsidiaries Veltex Properties, Inc. and Veltex Medical, Inc.

Veltex Corporation (OTCQB:VLXC) announced its uplisting from the OTC Pink Market to the OTCQB® Venture Market, effective July 25, 2022. This transition aims to enhance trading liquidity and market visibility for the company, which focuses on health and wellness acquisitions, particularly in substance use disorder (SUD) treatment. Veltex operates an outpatient SUD facility in Mount Hope, WV, with plans for inpatient services. The uplisting is expected to broaden the investor base and offer improved compliance standards, contributing to the company's strategic goals in the healthcare sector.

Veltex Corporation (VLXC) has appointed Thomas S. Bailey as the new Chief Operating Officer, effective immediately. Bailey, who brings extensive experience in management and government relations, will also join the Board of Directors of Veltex Medical. Chairman R. Preston Roberts expressed enthusiasm for Bailey's strategic leadership to enhance operational excellence, especially in addiction management. The company operates a major rehabilitation center in West Virginia and is exploring new properties across several states, amid ongoing opioid litigation that could significantly impact the industry.

Veltex Corporation announces the opening of its new Mount Hope Campus in West Virginia, a flagship facility covering over 30,000 sq feet and capable of accommodating 150 inpatient clients. This operation aims to provide comprehensive addiction recovery services, including detoxification and outpatient care. The company has also entered a joint venture with Serenity Pointe for rehabilitation services. Veltex's efforts are supported by local government officials, emphasizing its commitment to combatting the opioid epidemic in the region.