Verus Signs 2nd Distribution Agreement in Florida; Announces Launch Date for Flörd Product Line

Rhea-AI Summary

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.

Positive

• Second distribution agreement signed in Florida for Flörd products.
• Official sales launch set for August 1, 2022, allowing preorders.
• Market entry into high-demand product categories through Flörd line.
• Future plans for expansion based on initial product performance.

Negative

• None.

Orlando, FL, July 19, 2022 (GLOBE NEWSWIRE) -- Verus International, Inc. (“Verus” or the “Company”) (OTC Pink: VRUS), a food and hemp-based products company, is pleased to announce that it has signed a second distribution agreement in Florida featuring products from its joint venture (JV) with Flörd, a maker of premium rare cannabinoids. The Company previously announced that it had expanded the JV’s offerings into the beverage space in order to provide a more complete selection during the roll-out phase.

The official launch date for both online and in store sales of Flörd products is August 1^st, with preorder available prior to that date.

“Introducing a new product line takes a great deal of pre-launch work, so we are excited to finally go live with the Flörd line,” said Verus CEO Andy Dhruv. “We are coming to market at the right time with products that are in high-demand categories, so we are optimistic as we begin this important revenue cycle. Our goal is to expand the sales territory for the line in the future as we gain valuable intelligence on the sell-through of these initial products.”

“Today’s announcement is the culmination of a great deal of brand development,” explained Flörd CEO Ray White. “We believe that we have the right set of products for today’s markets, so this is a particularly exciting time to see the Flörd line reach store shelves. We have the resources to continue to expand, so this represents the first stage of a more ambitious plan to establish the Flörd brand as a familiar name at the retail level.”

About Verus International

Verus is multi-line consumer packaged goods (CPG) company involved in the distribution of branded product lines in the U.S. The Company trades on the OTC market (OTC Pink: VRUS). Investors can find real-time quotes and market information for the Company on www.otcmarkets.com. Additional information is also available at the Company’s website, www.Verusintl.com, and via the official Twitter feed @Verus_Foods: and for the JV partner Flörd at www.flord.shop.

Safe Harbor Statement

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results could differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Contacts

Investor Contact:
ir@verusfoods.com

FAQ

What is the significance of Verus International's new distribution agreement in Florida?

Verus has signed a second distribution agreement for its Flörd products, enhancing its market reach in a key state.

When will Flörd products be available for purchase?

Flörd products will officially launch for online and in-store sales on August 1, 2022, with preorders available earlier.

What products are included in the Flörd line from Verus International?

The Flörd line includes premium rare cannabinoids and beverages designed for high-demand markets.

What are the future plans for Verus International regarding product sales?

Verus International plans to expand sales territories as it gains insights from the initial sell-through of Flörd products.