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Fort Lauderdale, FL, Nov. 19, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Veritas Farms, Inc. (VFRM) (“Veritas Farms” or the “Company”), a vertically integrated agribusiness focused on the production of full spectrum hemp oil products with naturally occurring cannabinoids, is pleased to announce that they unveiled their upcoming line of full spectrum hemp oil infused pet products at the ERCM Hemp Derived Pet Products Showcase held on Nov 4th – 6th, 2019, in Cape Coral, Florida. Veritas Farms won second place for best product for its upcoming line of chewable full spectrum hemp oil pet products.
“We are very happy with the reception our upcoming line of pet products received in Florida,” explained Alexander Salgado, CEO and co-founder of Veritas Farms. He continued “It is estimated that around 10% of all hemp and CBD products will be designed for pets in the future and we believe that our full spectrum hemp oil line for pets is going to become a considerable segment of our product line.”
The Company also met with key decision makers from multiple national chain pet retailers with the goal of securing distribution partners for its upcoming pet line.
Hemp derived pet products are set to become an important part of the overall CBD and hemp sector. The CBD industry as a whole is expected to be worth approximately $24 billion by 2023, according to Brightfield Group, and pet sales are expected to count for approximately 7% of the sales volume.
Over the coming months, the Company will be announcing further details about its line of full spectrum hemp products for pets and its anticipated launch date.
About Veritas Farms, Inc.
Veritas Farms, Inc. (OTCQB:VFRM) is a vertically integrated agribusiness focused on producing superior quality, whole plant, full spectrum hemp oils and extracts containing naturally occurring cannabinoids. The Company currently owns and operates a 140-acre farm and production facilities in Pueblo, Colorado, and is registered with the Colorado Department of Agriculture to grow industrial hemp. The Company markets and sells products under its Veritas Farms™ brand and manufactures private label products for a number of leading distributors and retailers.
Veritas Farms™ brand full spectrum hemp oil products include vegan capsules, tinctures, formulations for sublingual applications and infused edibles, lotions, salves, and oral syringes in a variety of size formats and flavors. All Veritas Farms™ brand products are third-party laboratory tested for strength and purity. The Company files periodic reports with the Securities and Exchange Commission, which can be viewed at www.sec.gov.
For additional information and online product purchase, visit www.theveritasfarms.com
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Cautionary Language Concerning Forward-Looking Statement
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the Company's mission statement and growth strategy, are “forward-looking statements.” Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve many risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update any of the information contained or referenced in this press release.