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ORCHID
VENTURES ANNOUNCES THE LAUNCH OF A NEW
SUBSIDIARY, PURTEC DELIVERY SYSTEMS, A DELIVERY SYSTEM TECHNOLOGY
COMPANY
IRVINE, CA –
February
26, 2020 – InvestorsHub NewsWire -
Multi-State cannabis company Orchid
Ventures, Inc. (CSE: ORCD) (OTC:ORVRF) ("Orchid Ventures" or the "Company")
announces the launch of a new subsidiary, PurTec Delivery
Systems, LLC ("PurTec").
PurTec designs and
sells proprietary, patent pending hardware delivery systems to the
Cannabis and CBD industries both in North America and
globally. With the development of Orchid Essentials in 2017, the
company realized it's Vape hardware has yet to be beat in the
cannabis industry, and since inception, has been considered one of
the best delivery systems on the market. The Company has spent
the past 3 years developing manufacturing standards and protocols
that have created unique hardware options that the Company believes
to be safer, more effective, and providing a better user-experience
than any other vaporizer hardware line available
today. Consistent with the company's position "to build consistent,
high quality brands and products that consumers can relate to and
trust", PurTec products are built with the highest quality
materials, are emissions and leach tested to ensure consumer safety
and are uniquely designed to create an optimal consumer
experience.
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"Since launching
the Orchid Essentials vape line in 2017, we have always focused on
engineering hardware that would outperform others, as well as being
clean and safe for consumers. Though government agencies in
the US do not require emissions testing at
this time,
we believe they will soon integrate this level of testing into
their standard protocols and regulatory standards to ensure
consumer safety. Creating effective and clean products is
challenging due to the difficulty of sourcing quality materials
that
don't contain trace chemicals and
heavy metals that leach into the oil, and more importantly, can be
vaporized and inhaled by consumers", said Corey Mangold, Founder
& CEO. "The PurTec line of hardware is a common sense purchase
for companies selling vape products, as our products
perform better than the competition, are value priced and are
tested clean and safe from harmful emissions. We know that vape
isn't going anywhere, it's a preferred consumption method by a
large percentage of cannabis users over the age of 25 and we feel
that PurTec will be the perfect shift in our business that is
non-cannabis touching."
"The launch of
PurTec was something that we had been considering for some time and
as we strategically pivoted the company toward a more
diversified
position our focus turned to unlocking revenue potential by
expanding more rapidly into non-vape cannabis products, including
entry into the CBD marketplace, plus building new businesses around
our core IP equities and development opportunities.
The launch
of PurTec is just the initial step in a multi-year program to
expand the Orchid enterprise into additional lines of business that
will create value for our shareholders.", said Richard Brown,
President of Orchid Ventures.
Initially Purtec
will be launching two ceramic coil cartridges at a price point
considerably less than comparable products in the market due to
improved design and engineering. Also, PurTec is launching a
revolutionary disposable product that hits better,
delivers more
flavor, and is a fraction of the cost of other disposables. The
Company has also created PurTec Concierge as a complimentary
service for PurTec clients. This service will help customers launch
new products, setup and streamline production
facilities,
including setting up automation production lines, filling machines,
and overall improving efficiencies.
In addition, PurTec
will also be launching the 'Orchid Platform' where we will be
direct-selling PurTec products and Orchid services to
various
brands, processors and retailers that want a white-label product to
extend their business. We will assist clients with developing their
co-branded product where they will use our PurTec hardware and
packaging, or help them source oil, fill product,
manage
compliance, and distribute the product into the market. The Company
has already launched the Orchid Platform and is in production for
select retailers to provide them with their own product line,
without the headache of managing a supply chain.
"As
PurTec
expands, the company is focused on bringing more proprietary
technology and delivery systems to the market. We do not intend to
focus purely on vaporizers, and are working with companies to
develop cannabinoid delivery systems for other product
applications. Overall, we are excited
about this new division as it continues to diversify our revenue
streams, and most importantly continues our path of 'Creating the
Highest Standards in the Cannabis Industry'." said Corey Mangold, Founder
& CEO of Orchid Ventures.
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Pictured from left
to right: PurTec Orchid, PurCore Summit, PurSilo disposable. All
available in .5g or 1g.
The PurTec products
can be seen at
www.PurTecDesigns.com and are now available for
sale to
companies in the US and internationally. The PurTec design team
works with clients to customize their products to create strong
brand synergy with the hardware and give companies unique
differentiators. All products are emissions tested at European
Union
emissions testing standards.
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. Orchid's product lines are currently sold in 350+ dispensaries
across California and Oregon and are handcrafted and designed for
optimal user-experience and overall enjoyment. The company's proven
processes and passion for what it does carry through into its
products. The end result is an unparalleled experience for
new and practiced cannabis users alike. Orchid plans to expand its
operations into new national markets, as well as global markets
such as Latin America and Europe. With a continued focus on brand
and intellectual property development, Orchid will continue
to execute strategic acquisitions to further solidify it's
vertically integrated infrastructure with the goal of becoming a
dominant premium cannabis company in the United States. Orchid's
management brings significant branding, product development and
distribution experience with a proven track record of scaling
revenues, building value-generating partnerships and creating
enterprise value. Learn more at https://orchidessentials.com/
ON BEHALF OF THE BOARD OF DIRECTORS – ORCHID
VENTURES, INC.
Corey
Mangold
CEO
and Director
investors@orchidessentials.com
Investor Relations
Corey
Mangold
949-357-5818
corey@orchidessentials.com
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.
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