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Sunday, September 25, 2022

Verus International Inc (OTCMKTS: VRUS) Soars After Company Announces Joint Venture (JV) with Flörd, Maker of Premium Rare Cannabinoids

Verus International Inc (OTCMKTS: VRUS) is making a big move up the charts after the Company announced (after a long silence) it has entered into a joint venture (JV) with Flörd, a maker of premium rare cannabinoids. Under the terms of the JV, Verus will gain exclusive distribution rights and will be a 50% partner in the sale of Flörd products in the United States. The current plan is to roll out various Flörd cannabinoid-based SKUs over the next several months, with a goal to reach $3 million in sales by year end. Flörd CEO Ray White said he entered into the JV because Verus gives Flörd instant access to a large number of locations and regions. 

This is big news for VRUS which had been losing ground steadily after well over a year of silence before recently reversing off $0.0008 lows.  According to VRUS CEO, “Today’s press release unveils the first step in a new direction for Verus” so we will see if this is the start of something big. VRUS was a very popular stock back in the day. According to OTCMarkets OS is just $87.5 million shares representing a total market valuation of just $70,000. As of 11 AM on Wednesday, VRUS is up 125% on $625,000 in dollar volume on the day.

 

Verus International Inc (OTCMKTS: VRUS) 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).  

Corporate Update from Verus CEO Andy Dhruv 

“It has been almost a year since my last corporate update, so I am guessing that today’s press release is a major surprise. When I took over Verus, I did so with eyes wide open, measuring the challenges I inherited against the potential business I knew I could bring as part of my turnaround strategy. Reality has a way of changing the best laid plans, so the optimism I expressed in my last corporate update did not translate into corporate actions on the timeline I first envisioned. After a great deal of hard work, we are finally ready to pursue some important new strategies to grow the business.”

“Today’s press release unveils the first step in a new direction for Verus. This is not a restart in the traditional sense, but a substantive change in the strategic model. We are going to utilize our #1 strength – our distribution network — to create partnerships where our partners assume greater responsibility for the kind of capital-intensive business functions that previously derailed Verus in its pursuit of end-to-end product development. Instead, we will concentrate on the distribution of high margin, market-ready products where the margins leave plenty of room for both members of the JV – and we will run a very lean operation that gives us the ability to return to profitability earlier in the sales cycle. It is important to note that this is not a low-margin distribution model, but should be considered a hybrid-distribution strategy where we participate in JV returns as an equal partner. That will take some time to develop, but it does give the company a fighting chance to rebuild shareholder value, which was always my goal from the beginning.”

“We can offer CPG companies a fast path to thousands of store shelves, so I welcome enquiries from any product company looking to launch into a wider retailer network. Our JV with Flörd will be the blueprint for our strategy – and we are optimistic that we can grow this to a viable size before year end. Today’s announcement is more than just a corporate agreement – it is the official restart of Verus as an operating business. I look forward to providing periodic updates on our progress and I am excited to team with Flörd on what we think will be a very successful launch.”

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VRUS

Microcapdaily has been covering VRUS for several years, in August 2020 we stated on VRUS: “An exciting new division of VRUS is Pachyderm Labs, in the cannabidiol (CBD) space which enters the Verus product family with a fully developed product line, supply chain, distribution channels, inventory, and initial customers. Pachyderm Labs will feature two main brands, “Elephant Hemp” and “U-Try CBD,” and will initially have more than 12 different SKU’s with multiple flavor and aroma variations, covering health-enhancing oils, creams, lotions and other CBD-infused edibles. Pachyderm Labs has been a stealth initiative under development for nearly a year, so it enters the Verus product family with a fully developed product line, supply chain, distribution channels, inventory, and initial customers. Pachyderm Labs will feature two main brands, “Elephant Hemp” and “U-Try CBD,” and will initially have more than 12 different SKU’s with multiple flavor and aroma variations, covering health-enhancing oils, creams, lotions and other CBD-infused edibles. The brands have been designed for both CBD-oriented retailers and mass retailers such as drug stores and convenience stores.” 

VRUS soared over 100% on Wednesday after the Company reported it has entered into a joint venture (JV) with Flörd, a maker of premium rare cannabinoids. Under the terms of the JV, Verus will gain exclusive distribution rights and will be a 50% partner in the sale of Flörd products in the United States. The current plan is to roll out various Flörd cannabinoid-based SKUs over the next several months, with a goal to reach $3 million in sales by year end. Flörd CEO Ray White said he entered into the JV because Verus gives Flörd instant access to a large number of locations and regions, fast tracking the Company’s products onto store shelves to take advantage of high demand. 

Verus CEO Andy Dhruv said: “I am excited to team with Flörd to bring revenue growth back to Verus. The timing of this launch could not be better, as the rules governing these classes of products were recently relaxed, creating considerable excitement among retailers in this space. This is a true JV in the sense that both companies will bring their core strengths to the business – with Flörd providing the finished products and Verus managing distribution. Most importantly, we are coming to market with high margin, high demand SKUs at the right time to benefit from improved market trends.” 

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Currently trading at a $70k market valuation (according to Otcmarkets) VRUS is an SEC filer and could piggy back up to fully reporting OTCQB recently filing both their 10k and 10Q on time. The Company does carry $4 million in liabilities on the books which has in the past and could in the future lead to dilution. But VRUS is an exciting story developing in small caps; after over a year of silence the Company is back in business reporting the Company is moving in a new direction and things are happening. VRUS was up over 100% on Wednesday after the Company announced it has entered into a joint venture (JV) with Flörd, a maker of premium rare cannabinoids. Under the terms of the JV, Verus will gain exclusive distribution rights and will be a 50% partner in the sale of Flörd products in the United States. The current plan is to roll out various Flörd cannabinoid-based SKUs over the next several months, with a goal to reach $3 million in sales by year end. Flörd CEO Ray White said he entered into the JV because Verus gives Flörd instant access to a large number of locations and regions. We will be updating on VRUS when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with VRUS.

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Disclosure: we hold no position in VRUS either long or short and we have not been compensated for this article.

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