VERUS INTL INC - VRUS STOCK NEWS

Orlando, FL, July 19, 2022 - Verus International, Inc. (OTC Pink: VRUS) has announced a second distribution agreement in Florida for its joint venture (JV) with Flörd, specializing in premium rare cannabinoids. The official sales launch for Flörd products, including beverages, is set for August 1, with preorders available beforehand. CEO Andy Dhruv expressed optimism about entering a high-demand market, aiming to expand sales territories based on initial performance insights. Flörd CEO Ray White emphasized brand development and future expansion plans for retail presence.

Verus International (OTC Pink: VRUS) announced its first distribution agreement in Florida as part of a joint venture with Flörd, expanding into premium rare cannabinoids beverages. The company plans to enhance its online presence with a revamped website and social media outreach, aiming to boost sales in Florida's key markets. CEO Andy Dhruv emphasized the intent to generate meaningful revenue by leveraging existing inventory and customer demand. They expect to gather essential metrics on their product's market performance over the coming months.

Verus International (OTC Pink: VRUS) announces a joint venture with Flörd, a premium cannabinoid manufacturer, granting exclusive distribution rights in the U.S. Verus aims to roll out Flörd products and target $3 million in sales by year-end. CEO Andy Dhruv highlights this partnership as a pivotal step in revitalizing Verus’s growth strategy, emphasizing a hybrid-distribution model focused on high-margin, market-ready products. The collaboration is expected to leverage Verus's extensive distribution network to meet rising demand.

Verus International (OTC Pink: VRUS) announced the signing of its 3rd U.S. distributor for its Pachyderm CBD and Waffles product lines, indicating strong demand and a growing backlog of orders. CEO Andy Dhruv detailed a turnaround strategy focusing on stabilizing debt and introducing high-margin products. While facing challenges from lawsuits and a need for working capital, the company reported a gross margin of 23%, a notable increase from 12% in Q4 2020. Verus plans to attend a trade show to further promote its products and boost sales.

Verus International (OTC Pink: VRUS) reported its fiscal Q2 2021 results, with revenue declining by 28% year-over-year to $3.3 million. This decrease is attributed to a planned product line repositioning aimed at future margin improvements. Despite this, gross profit margin improved to 23%, up from 17% in Q1 2021. Operating expenses dropped 89% to $0.9 million, leading to a 98% reduction in operating loss to $0.1 million. The net loss from continuing operations was $0.7 million, a 90% improvement from the prior year.

Verus International, Inc. (OTC: VRUS) announced a corporate update regarding its turnaround efforts under CEO Andy Dhruv, who took over in February 2021. The company is focusing on increasing production for its new Waffles line, which has already become its fastest-selling product in the CBD/hemp category, generating more demand than supply. Management is prioritizing expense rationalization, aiming to cut non-essential costs in General and Administrative (G&A) expenses to achieve profitability and transition toward higher margin products.

Verus International (OTC Pink: VRUS) recently issued a corporate update from CEO Andy Dhruv. Dhruv outlined his plans to steer the company toward profitability and growth following a period of internal restructuring. Key moves include reducing operating costs by over $700,000 annually through the elimination of high-cost business units and a focus on launching new products like the Waffles brand. Despite facing a proposed class action lawsuit, Dhruv expressed confidence in the company's future, emphasizing the importance of product quality and strategic partnerships for sustainable growth.

Verus International (OTC Pink: VRUS) has signed a second distributor for its hemp-based Waffles product line, initiating a 100-store pilot in Orlando, Florida, with plans for expansion into over 1,000 stores. The initial offerings include gummi and cartridge products in four flavors. Following positive results from a recent industry event, Verus will showcase at the CHAMPS Show in Las Vegas from July 27-30, 2021. CEO Andy Dhruv emphasized the shift towards higher-margin domestic revenue, moving away from the international food business that previously dominated its revenue streams.

Verus International (OTC Pink: VRUS) reported a 44% drop in revenue for Q1 2021, totaling $3.5 million, down from $6.2 million in Q1 2020. Gross profit margin fell to 17.1%, while operating expenses decreased by 73% to $0.7 million. The net loss from continuing operations improved by 80%, standing at $0.4 million. The company aims for profitability with a focus on high-margin products and CBD sales. Additionally, Verus is compliant in its filings, allowing for resumed M&A discussions.