Veritas Farms Inc (OTCMKTS: VFRM) is giving investors yet another reason to be excited today. The company announced an exclusive supply agreement that will lead to a meaningful increase in revenue. Today, we’ll talk about:
- The exclusive supply agreement;
- what this means for VFRM shareholders; and
- what we’ll be watching for ahead.
VFRM Announces Exclusive Supply Agreement
As mentioned above, Veritas Farms is having a great day in the market today after announcing that it has entered into an exclusive supply agreement. The announcement came by way of press release this morning.
In the release, VFRM said that the agreement was signed with Oasis Health LLC. Oasis is a Florida-based nutritional supplement formulator and physician-only supplier affiliate of Bendcare, LLC.
According to the terms of the agreement, VFRM has custom manufactured the exclusive formulation created by Oasis Health by unveiling their first to products from a line of broad spectrum whole-plant hemp. These hemp=based products, “Formulated by Rheumatologists, for Patients,” are THC-free and naturally grown, processed, and produced at the Varitas Farms facility in Pueblo Colorado.
From there, the products are lab tested by a third party for purity and potency. In the release, the company said that Oasis brand products are currently being sold exclusively through licensed physicians in 22 states to over 20,000 patients across the country.
In a statement, George Munoz, MD, co-founder at AARA and the inspiration for creating Oasis Health, had the following to offer:
Adding these two new products meets the demands of our patients to obtain natural products that supplement their goals of healthy living. The products Sunrise and Eclipse meet our quality standards verified by third-party laboratories and are consistent with our vision of purity, potency, and affordability.
The above statement was followed up by Alexander M. Salgado, CEO and co-founder at VFRM. Here’s what he had to say:
Veritas Farms’ farming and manufacturing expertise and capabilities are a perfect match to partner with Oasis Health, Bendcare, and their affiliated nationwide group of physicians. Their patients now have access to the highest quality hemp-based products made with our THC-free broad spectrum hemp extract directly from and under licensed physicians. It’s a win-win-win scenario that benefits Veritas Farms, Oasis Health, and most importantly, patients in search of natural products.
What This Means For Veritas Farms And Its Investors
The news released today is overwhelmingly positive for Veritas Farms for multiple reasons. Here’s how I see it:
- Revenue – First and foremost, VFRM will be responsible for supplying the CBD products for around 20,000 patients. This will likely greatly expand revenue for the company.
- Expansion – Moreover, this is just another example of the efforts that the company is making with regard to expansion. In fact, the company recently announced that its products are in select CVS stores, in various locations online and a partnership to sell its products in various Bartell Drugs locations. All in all the company’s work to expand its retail footprint seems to be paying dividends.
- Validation – Finally, Oasis Health chose VFRM because it is able to consistently provide quality products at a competitive price. This serves as further validation for the company’s work in the space.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on VFRM. In particular, we’re interested in following the company’s continued work to expand its retail footprint and excited to see the fruits of the company’s efforts ahead.
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