Orlando, FL, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Verus International, Inc. (VRUS) (“Verus” or the “Company”) , a food and hemp-based products company, is providing the following update after the Company’s successful attendance at the July 26-28 CHAMPS Trade Show in Las Vegas. Orders at the show were robust, enabling Verus(VRUS) to sell out its first production run of Flörd products. The Company also added customers in ten new markets -- California, Texas, New Mexico, Nevada, Tennessee, Georgia, North Carolina, Illinois, New Jersey and New York. Previously, Verus(VRUS) announced distribution agreements in Florida featuring products from its joint venture (JV) with Flörd, which is a maker of premium rare cannabinoids.
Based on order flow to date, Verus(VRUS) plans to double its next Flörd production run, with a goal to materially increase the size of each subsequent order cycle to match the growing sales footprint.
“The response to the Flörd line at the CHAMPS show was outstanding, enabling us to accelerate our manufacturing schedule to fulfill increased demand,” said Verus(VRUS) CEO Andy Dhruv. “Our first production run was just a fraction of what we think we can do as we scale this product line, so this second run will be materially larger. We are right on schedule with a stair-step approach under which we are building a customer base concurrent with production increases, giving us fast turnover and minimal inventory. This capital-friendly strategy should enable us to really scale this product line through the remainder of the year and beyond.”
“The first customer for any product is the store buyer, so seeing this kind of response at an industry trade show is encouraging,” added Flörd CEO Ray White. “We are in a favorable position where we have the capacity and resources to significantly expand our business as we layer on sales. As a result, signing new customers will remain the primary focus.”
About Verus(VRUS) International
Verus (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 . 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.
