IRVINE, CA / ACCESSWIRE / July 9, 2020 / ORCHID VENTURES, INC. (CSE:ORCD)(OTC PINK:ORVRF) (the 'Company' or 'Orchid'), a multi-state cannabis innovation company is pleased to announce unaudited revenue for June has exceeded monthly revenue within the last twelve(12) months. The Company will also be holding an investor update call on July 21, 2020.
During June 2020, Orchid Ventures generated the highest gross revenue for a single month within the last twelve(12) months. The Company reports that the PurTec operations are driving significant growth and in its first month of processing orders and shipping product, has received purchase orders exceeding $800,000 CAD. PurTec Delivery Systems has begun shipping orders of both hardware and custom packaging into the United States and Canada.
'It's been a long time coming, but we are now proving that the fundamental shifts that we have taken as a company were not only the right decisions, but are now changing the trajectory for the entire organization. We believe that PurTec hardware is essential for any company worldwide that is selling cannabis or CBD vaporizers. Our hardware is more effective, priced competitively, and proven to be the cleanest cartridges on the market and the only cartridges that are emissions tested at AFNOR standards. The piece of mind that PurTec hardware offers our customers is significant and we feel that it's a matter of time before the largest cannabis vape brands in the world are using PurTec.' said Corey Mangold, Founder & CEO. 'The last year has been challenging, but we have been steadfast in our efforts to turn around the company and provide value to our shareholders. With PurTec performing very well, and CELLg8 Sciences in the final stages of development with some of the largest cannabis brands in North America, we're very excited about our future as an evolved, cannabis innovation company.'
The company is also announcing an investor update conference call scheduled for 11am PST on July 21, 2020. Dial-in information is listed below.
Orchid Ventures Investor Update Call
Date: July 21, 2020
Time: 11:00 a.m. PST
Toll Free: 844-407-9500
Replay Dial In: (replay expiration Tuesday, August 04, 2020)
Toll Free: 877-481-4010
Replay Passcode: 35713
ABOUT ORCHID ESSENTIALS
Orchid Essentials is an Irvine, CA-based multi-state operator that launched in Oregon and California in August 2017 and has since developed a mass-market brand and loyal consumer following with its premium cannabis products and unique vape hardware delivery system. Since July 2019, Orchid has diversified its efforts and has brought to market innovative services and product offerings to support brands throughout the global cannabis industry. Orchid has diversified its portfolio to include PurTec Delivery Systems, a company that produces, markets and sells clean vaporizer hardware that has been emissions tested against the most stringent standards in the world set forth by the EU and has unrivaled product quality and value pricing. Orchid, through its wholly owned subsidiary, has launched a patented and clinically proven bioavailability solution to increase the absorption of THC and other cannabinoids making products much more effective and an activation time of less than five minutes. With a continued focus on brand and intellectual property development, Orchid will continue to create new and innovative products and technologies, then bring them to the global cannabis marketplace and set the gold standard for delivery systems whether it's vape or formulation sciences. Orchid's management brings significant branding, product development and distribution experience with a proven track record of scaling businesses and building sustainable revenue growth through value-generating partnerships and innovation that creates enterprise value. Learn more at https://orchidessentials.com/
ON BEHALF OF THE BOARD OF DIRECTORS - ORCHID VENTURES, INC.
CEO and Director
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Safe Harbor Statement
Except for historical information contained herein, statements in this release may be forward-looking and made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Words such as 'anticipate', 'believe', 'estimate', 'expect', 'intend' and similar expressions, as they relate to Orchid Ventures, Inc. and Orchid Essentials any of its affiliates or subsidiaries (collectively, the 'Company') or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in the Company's Canadian securities regulatory filings with sedar.com, Factors which could cause actual results to differ materially from these forward-looking statements include such factors as (i) the development and protection of our brands and other intellectual property, (ii) the need to raise capital to meet business requirements, (iii) significant fluctuations in marketing expenses, (iv) the ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of our products and services, (v) the Company's ability to conduct the business if there are changes in laws, regulations, or government policies related to cannabis, (vi) management's ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and (vii) other information that may be detailed from time to time in the Company's Canadian securities regulatory filings with sedar.com. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: Orchid Ventures, Inc.
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