$VRUS - Major NEWS! VERUS INTERNATIONAL SECURES RETAIL LICENSE AGREEMENT WITH NATIONAL HOCKEY LEAGUE AND PROVIDES OPERATIONAL UPDATE
Press Release | 08/25/2020
Gaithersburg, MD, Aug. 25, 2020 (GLOBE NEWSWIRE) -- Verus International, Inc. (“Verus” or the “Company”) (OTCQB: VRUS) is pleased to announce that its Big League Foods (“BLF”) division has secured a retail license agreement with the National Hockey League ("NHL") to produce NHL-themed chocolate, gum, gummies and other confectionary products. Under this agreement, BLF now has the rights to feature the names, nicknames, slogans, symbols, logos, emblems, insignia, colors, and uniform designs of each of the member teams of the NHL. The initial product line will include themed candy products similar in concept to BLF’s candy line designed for Major League Baseball (“MLB”).
Included in this license, the Company has the rights to also utilize other NHL logos and events, such as the Conference and Division names, the name and likeness of the Stanley Cup, the NHL logo, insignia related to the NHL All-Star Game, the NHL Winter Classic, the NHL Stadium Series, the NHL Heritage Classic, certain characters and/or mascots, and vintage NHL Marks.
BLF will provide additional details on the launch timing as production schedules are developed for the NHL-branded candy. The disruption of traditional sports seasons had a major impact on retailers during 2020, due to the difficulty of scheduling products to coincide with professional sports calendars. Professional leagues anticipate a return to more predictable scheduling soon, which should enable retailers to return to historical buying patterns. BLF continues to work with other professional sports organizations to develop timelines for licensing agreements, with a focus on professional basketball and football as the next target leagues. The Company is maintaining active conversations with all of the major sports leagues in North America and anticipates additional licensing agreements in the future.
“We are excited to secure our second professional sports league and look forward to developing an exciting line of products for the NHL,” explained Verus CEO Anshu Bhatnagar. “Today’s agreement marks the second stage in our goal to secure licensing agreements with all of the major professional sports. Our strategy is to become a one-stop source for professional sports branded candy products, with the ability to provide retailers with access to seasonal items to match each professional sport. This would give us a year-round presence in each retail customer, anchoring us as a preferred vendor and opening the door to new product introductions. The quality of our MLB products generated significant interest in the licensing departments at both the league and team office levels, so we are confident that we can secure additional licensing agreements in the future.”
