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Fort Lauderdale, Florida – August 14, 2019 – Veritas Farms, Inc. (OTCQB: VFRM), a vertically integrated agribusiness focused on the production of full spectrum hemp oil products with naturally occurring cannabinoids, today announced that the Company has reported its operating results for the three months ended June 30, 2019, through the filing of its Quarterly Report on Form 10-Q with the Securities and Exchange Commission.
Selected Financial Highlights – 2nd Quarter Ended June 30, 2019
- Total Revenues: Up 509.9% to $2,971,345 compared to $487,169 in Q2 2018
• Total Revenues: Up 94.9% to $2,971,345 compared to $1,524,930 in Q1 2019
• Gross Profit: Up 799.5% to $1,523,413, compared to $169,474 in Q2 2018
• Gross Profit: Up 143.0% to $627,434, compared to $169,474 in Q1 2019
• Total Assets: Up 60.0% to $12,594,773, compared to $7,870,935 at Mar. 31, 2019
• Total Inventory: Up 20.0% to $3,216,671, compared to $2,658,581 at Mar. 31, 2019
Alexander M. Salgado, CEO and co-founder of Veritas Farms, commented, “Over this past fiscal quarterly period ended June 30, 2019, our expanding sales and marketing strategies combined with increasing interest and acceptance from mainstream consumers and traditional brick-and-mortar retailers have helped to propel Veritas Farms’ sales to new record levels – more than 5x our comparable 2nd Quarter 2018 sales and nearly 2x our sales from the 1st Quarter of this year.
“This sales growth was made possible by the solid foundation for success that we built over the past four years at our state-of-art 140-acre farm and production facilities in Pueblo, Colorado, our unwavering commitment to product quality, and our growing reputation as one of the country’s most trusted vertically integrated hemp extract product brand in the country.
“Moving forward into the current 3rd Quarter, we have since greatly expanded our distribution network to over 4,500 retailers across the country including 1,350 Kroger Family of Stores locations, developed new innovative product lines for release later this year, and increased our already considerable cultivation and manufacturing capacities.”
Mr. Salgado concluded, “We expect these improvements will have a sustained positive effect on our financial results as the market for Veritas Farms™ hemp extract products grow throughout 2019. We are confident that our lab tested full spectrum hemp extract products will exceed the high expectations of every consumer, health care provider, and distributor.”
Veritas Farms™ brand full spectrum hemp extract products can be found at several leading online and brick-and-mortar retailers across the United States. For a complete listing of retailers and to purchase Veritas Farms™ products online, visit www.theveritasfarms.com.
About Veritas Farms, Inc.
Veritas Farms, Inc. (OTCQB: VFRM) is a vertically integrated agribusiness focused on producing superior quality, whole plant, full spectrum hemp oils and extracts containing naturally occurring cannabinoids. The Company currently owns and operates a 140-acre farm and production facilities in Pueblo, Colorado, and is registered with the Colorado Department of Agriculture to grow industrial hemp. The Company markets and sells products under its Veritas Farms™ brand and manufactures private label products for a number of leading distributors and retailers.
Veritas Farms™ brand full spectrum hemp oil products include vegan capsules, tinctures, formulations for sublingual applications and infused edibles, lotions, salves, and oral syringes in a variety of size formats and flavors. All Veritas Farms™ brand products are third-party laboratory tested for strength and purity. The Company files periodic reports with the Securities and Exchange Commission, which can be viewed at www.sec.gov.
For additional information and online product purchase, visit www.theveritasfarms.com.
Veritas Farms, Inc. – Investor Contact
Toll-Free: (888) 549-7888
E-mail: ir@theveritasfarms.com
Veritas Farms, Inc. – Social Media
Instagram: www.instagram.com/veritasfarmsofficial/
Facebook: www.facebook.com/VeritasFarmsOfficial/
LinkedIn: www.linkedin.com/company/veritasfarms/
Twitter: www.twitter.com/theveritasfarms
Cautionary Language Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the Company’s mission statement and growth strategy, are “forward-looking statements.” Although the Company’s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve many risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Source: Veritas Farms, Inc.
Fort Lauderdale, Florida – July 31, 2019 – Veritas Farms, Inc. (OTCQB: VFRM), a vertically integrated agribusiness focused on the production of full spectrum hemp oil products with naturally occurring cannabinoids, is pleased to announce that Veritas Farms™ has reached and surpassed over 4,500 points of retail distribution.
Veritas Farms first and second quarter efforts in chain retail resulted in multiple national chain retailers launching Veritas Farms products in their stores. Total chain retail distribution added during this quarter represents thousands of additional stores across more than a dozen states.
Alexander M. Salgado, CEO and co-founder of Veritas Farms, Inc., commented, “With our continued growth into independent retailer networks combined with the success of recent chain retail launches, Veritas Farms has reached distribution into over 4,500 retail stores nationwide. These established channels include prominent national chain retailers in pharmacy, grocery, and home-goods, as well as, independent retailers in grocery, pharmacy, chiropractic and medical professionals, spas, salons, hospitality, travel and specialty stores.”
“As the Full Spectrum Hemp Oil category continues to build mainstream visibility and acceptance, the Veritas Farms team will maintain its efforts to create and capitalize on even more new and expanded retail opportunities. We expect this will enable us to leverage our industry leading reputation for quality and consistency, and will lead to a continued expansion of our retail distribution network going-forward.”
Veritas Farms™ brand full-spectrum hemp extract products can be found at several leading online and brick-and-mortar retailers across the United States. For a complete listing of retailers and to purchase Veritas Farms™ products online, visit www.theveritasfarms.com.
About Veritas Farms, Inc.
Veritas Farms, Inc. (OTCQB: VFRM) is a vertically integrated agribusiness focused on producing superior quality, whole plant, full spectrum hemp oils and extracts containing naturally occurring cannabinoids. The Company currently owns and operates a 140-acre farm and production facility in Pueblo, Colorado, and is registered with the Colorado Department of Agriculture to grow industrial hemp. The Company markets and sells products under its Veritas Farms™ brand and manufactures private label products for a number of leading distributors and retailers.
Veritas Farms™ brand full spectrum hemp oil products include vegan capsules, tinctures, formulations for sublingual applications and infused edibles, lotions, salves, and oral syringes in a variety of size formats and flavors. All Veritas Farms™ brand products are third-party laboratory tested for strength and purity. The Company files periodic reports with the Securities and Exchange Commission, which can be viewed at www.sec.gov.
For additional information and online product purchase, visit www.theveritasfarms.com.
Veritas Farms, Inc. – Investor Contact
Toll-Free: (888) 549-7888
E-mail: ir@theveritasfarms.com
Veritas Farms, Inc. – Social Media
Instagram: www.instagram.com/veritasfarmsofficial/
Facebook: www.facebook.com/VeritasFarmsOfficial/
LinkedIn: www.linkedin.com/company/veritasfarms/
Twitter: www.twitter.com/theveritasfarms
Cautionary Language Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the Company’s mission statement and growth strategy, are “forward-looking statements.” Although the Company’s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve many risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update any of the information contained or referenced in this press release.
SOURCE: Veritas Farms, Inc.
Fort Lauderdale, FL – July 29, 2019 – Veritas Farms, Inc. (OTCQB: VFRM), a vertically integrated agribusiness focused on the production of full spectrum hemp oil products with naturally occurring cannabinoids, is pleased to announce that it is expanding its distribution partnership with Kroger Family of Stores into five new states and adding additional stores in existing states.
The additional distribution extends the already sizable partnership to five new states, including Texas, Virginia, Georgia, Montana, and Utah and totaling more than 400 new stores. Featured products of the expansion include Veritas Farms™ full spectrum hemp oil topical products; salves, moisturizing lotion, and lip balm.
Already featured in 945 Kroger Family of Stores, including banners Kroger, Dillons, Fry’s, Fred Meyer, King Soopers, Mariano’s, Pick ‘n Save, QFC and Smith’s, across 17 states (Arizona, Arkansas, Colorado, Illinois, Indiana, Kansas, Kentucky, Michigan, Missouri, Nevada, Oregon, South Carolina, Tennessee, West Virginia, Washington, Wisconsin, and Wyoming). The combined additional distribution will now feature Veritas Farms topical products in a total of 22 states and 1,350 locations across the Kroger Family of Stores.
Alexander M. Salgado, CEO and co-founder of Veritas Farms, Inc., commented, “We are pleased to expand our partnership with Kroger Family of Stores. As a nationally recognized leader in retail, their commitment to growing this category signals the success experienced thus far, the potential for continued growth, and the importance of these products’ availability to consumers and retailers. To find a participating store, use the locator tool on the Veritas Farms website.”
For additional information regarding Veritas Farms™ and to purchase product online, visit www.theveritasfarms.com.
About Veritas Farms, Inc.
Veritas Farms, Inc. (OTCQB: VFRM) is a vertically integrated agribusiness focused on producing superior quality, whole plant, full spectrum hemp oils and extracts containing naturally occurring cannabinoids. The Company currently owns and operates a 140-acre farm and production facilities in Pueblo, Colorado, and is registered with the Colorado Department of Agriculture to grow industrial hemp. The Company markets and sells products under its Veritas Farms™ brand and manufactures private label products for a number of leading distributors and retailers.
Veritas Farms™ brand full spectrum hemp extract products include vegan capsules, tinctures, formulations for sublingual applications and infused edibles, lotions, salves, and oral syringes in a variety of size formats and flavors. All Veritas Farms™ brand products are third-party laboratory tested for strength and purity. The Company files periodic reports with the Securities and Exchange Commission, which can be viewed at www.sec.gov.
For additional information and online product purchase, visit www.theveritasfarms.com.
Veritas Farms, Inc. – Social Media
Instagram: www.instagram.com/veritasfarmsofficial/
Facebook: www.facebook.com/VeritasFarmsOfficial/
LinkedIn: www.linkedin.com/company/veritasfarms/
Twitter: www.twitter.com/theveritasfarms
Cautionary Language Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the Company’s mission statement and growth strategy, are “forward-looking statements.” Although the Company’s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve many risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Veritas Farms, Inc. – Investor Contact
Toll-Free: (888) 549-7888
E-mail: ir@theveritasfarms.com
Source: Veritas Farms, Inc.
About Veritas Farms
Veritas Farms is a vertically integrated agribusiness focused on the production of full spectrum hemp extracts with naturally occurring cannabinoids located in Pueblo, Colorado.
Because we control the entire vertical that includes growing, extracting, manufacturing and bottling infrastructure right from the farm, Veritas controls the entire process to ensure quality, potency, and freshness of our products.
At heart, we are farmers with strong family values.
We started Veritas Farms under the pure air of the southern Rocky Mountains in Pueblo, Colorado.
We grow our hemp similar to a quality vineyard, giving quality attention to each plant while using drip irrigation to provide precise hydration and conserve our pure Rocky Mountain water.
We are committed to our community, sourcing locally whenever possible.
We practice sustainable farming methods, reducing our impact on the land, remembering that future generations of farmers will follow us.
We are part of the sustainable agricultural revolution; the phytocannabinoid Hemp farm revolution; and Colorado farmers who say they are: “Colorado Proud”.
Veritas Farms makes full spectrum cbd products for a happy and healthy lifestyle.
Our philosophy is simple:
1) Provide the purest, quality hemp oil products with transparency and passion.
2) Educate our community about the benefits of cannabinoids.
3) Protect our earth in the process. We consider the triple bottom line in all decisions we make. Equal importance from the plants we grow, the people we help and the money we save.
Our mission can be described simply as: Healthy Plants, Healthy People, Healthy Planet.
OUR PROCESS
We start by cloning baby plants from our mother plants and growing them to maturity.
Once mature, we harvest the flower and hang it to dry – literally – in our barn.
Once dry, we hand mash into a fine powder and then extract our full spectrum cannabinoid oil using a gentle and natural ethanol extraction.
Throughout the entire process we monitor our phytocannabinoid levels with a HPLC analyzer for quality and assuring we fully compliant with the “industrial hemp” limits set by Colorado Department of Agriculture.
In addition, our plants and derivative products are independently tested by Colorado certified laboratories for compliance, cannabinoid content, and purity, so we are sure to provide products free of heavy metals or lead.
Once tested, we produce a wide variety of formulated hemp oil products. A tour lab, which is located on our farm and is overseen by expert pharmacists who formulate our products.
Our best in class phytocannabinoid products are then off to manufacturing and bottling (also on our farm), where we follow strict Good Manufacturing Protocols.
Then we ship to you! Fresh and right off the farm!
We even have CBD Wholesale products for distributors and retailers.
Our products include:
– vegan, kosher, and non-gmo capsules in various strengths
– tinctures, in various formulations, strengths and flavors
– organic edibles in different strengths and flavors
– organic salves for topical use, available in different strengths and scents
SOURCE: https://www.theveritasfarms.com/
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This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.