Verus Signs Distribution Agreement in Florida

Rhea-AI Summary

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.

Positive

• Signed first distribution agreement in Florida, indicating market expansion.
• Expanded product offerings into beverages, tapping into a growing niche.
• Plans for a revised website to promote sales and enhance customer engagement.

Negative

• No concrete revenue figures or timelines provided for expected revenue generation.
• Dependence on customer feedback and market acceptance for future success.

Orlando, FL, June 21, 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 its first distribution agreement in Florida featuring products from its joint venture (JV) with Flörd, a maker of premium rare cannabinoids. The Company is also pleased to announce that it has expanded the JV’s offerings into the beverage space, adding additional SKUs in this key market.

To leverage this new focus for Verus, the Company is also announcing the development of a revised website designed to promote sales of the Flörd line, along with a restart of Twitter and other forms of outreach to better communicate with customers and investors. Management’s plan is to quickly stock key accounts in the Florida market to build momentum for an accelerating distribution footprint throughout the summer months.

“These are necessary first steps, as we begin our journey toward producing meaningful revenue,” explained Verus CEO Andy Dhruv. “We are working closely with the Flörd team to create a rapid presence in some key regional markets, with the goal to continue to layer on new customers over the next several months. Under our JV arrangement, we have sufficient inventory to finally create some revenue momentum, so we are revamping our website and other marketing resources in order to support that process. We will be in a better position to report on sell-through and other metrics after we gather store data. Our goal is to increase all elements of our public outreach as we work to build a brand presence. We are starting with products that are currently in high demand, so we are looking forward to valuable customer feedback as our products begin to populate store shelves in the coming months.”

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.verusfoods.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

Attachment

• First images of our new seltzer products

FAQ

What distribution agreement did Verus International announce?

Verus International announced its first distribution agreement in Florida as part of its joint venture with Flörd.

What new products is Verus expanding into?

Verus is expanding its joint venture offerings into the beverage space, focusing on premium rare cannabinoids.

What are Verus International's plans for customer engagement?

Verus plans to revamp its website and enhance its social media outreach to better communicate with customers and investors.

What is the stock symbol for Verus International?

The stock symbol for Verus International is VRUS, traded on the OTC market.

What are the expectations for revenue generation from the new products?

Verus expressed its goal of producing meaningful revenue but did not provide specific figures or timelines.