$VRUS Up to $1 mil in revs per month added to our already impressive revs below. He is very clear this is not apart of our current backlog
In that regard, Verus is happy to announce that it has reached an agreement to supply a Dubai -based food seller with up to $1 million (USD)/month in multiple vegetable, fruit and meat categories. Initial products are expected to include mangos, onions, potatoes, eggs, mutton, beef and poultry sourced from suppliers in several countries. Financing is being finalized and will utilize a Letter of Credit (LC) and non-dilutive European and U.S. sources.
"Now that we are fully independent, we finally have the freedom to create our own identity and become more active in pursuing growth opportunities," explained Verus CEO Anshu Bhatnagar . "This contract represents new business (not in our current backlog) and is just the start of the kind of recurring orders that are available to us with the right financing. In this case, we can rely on the LC to minimize our need for funds, while still generating significant revenue."
$VRUS Product Expansion
In addition to these staples, the Company is also pleased to announce that its roadmap over the next several quarters will involve a number of significant product initiatives, including:
-- The introduction of six Verus-owned brands -- in the Italian foods,
Middle Eastern and American food categories; and energy, fruit, and
coconut lines in the beverage space
-- Planned line extensions in beverages
-- New retail and snack food product families in areas such as mixed nuts,
olive oil and condiments
$VRUS Name and symbol completed with more corporate updates to follow
The completion of the NestBuilder distribution will now enable Verus to file for a name and symbol change, which is expected as early as next week. Due to the significant number of strategic initiatives in various stages of development, the Company has also elected to discuss topics such as capital structure, additional financing, and potential new business lines in follow-on updates.
$VRUS Potential Merger and Acquisitions, Financing, & New Contracts in the near future. Company will update when the outcome of discussions are determined
We are currently in near-term negotiations involving new contracts, sources of financing and, for the first time, merger and acquisition opportunities -- each of which could have a material effect on our capital structure and the strategic direction of our business. We expect to have clarity on some of these initiatives in the next several weeks."
AI
