Minutes ago, Veritas Farms Inc (OTCMKTS: VFRM) announced that it has expanded its retail footprint once again. The company has teamed up with Bartell Drugs, the nation’s oldest family-owned drugstore chain. Today, we’ll talk about:
- The announcement;
- what we’re seeing from VFRM stock as a result; and
- what we’ll be watching for ahead.
VFRM Announces Expanded Reach
As mentioned above, Veritas Farms made a big announcement minutes ago. In a press release, the company announced that Bartell Drugs will start selling its branded products.
The new reach includes 49 Bartell Drugs locations throughout the state of Washington. This is big news. After all, Bartell Drugs is the nation’s oldest family-owned drugstore chain, dating back to 1890.
In a statement, Alexander M. Salgado, CEO and co-founder at VFRM, had the following to offer:
Bartell Drugs has a long history of innovation in both pharmacy and retail, so their commitment to become a leader in this exciting new product category is no surprise. We are extremely proud to have partnered with them and are excited to have them bring our full spectrum hemp extract products to Washington State. We feel that the Seattle area is a strategic market for our company’s future growth and brand development. Bartell Drugs is a tremendous partner in this arena.
What This Means For Veritas Farms
At the end of the day, the news released by VFRM in the press release is huge. There are several reasons that investors should be excited about this:
- Revenue Growth – First and foremost, with the company’s branded CBD extracts being sold in 49 Bartell Drugs locations, we can expect that the new retail reach will lead to strong revenue growth.
- A Sign Of Success – Recently, it’s been clear that VFRM is working to expand its reach across the United States. At the moment, the company has a decent list of online and brick and mortar retailers. The most impressive so far is CVS. Nonetheless, Bartell Drugs is a close second. All in all, this shows that the company is aggressively working to place its products in more retail locations as the United States CBD market continues to emerge.
- Early Moves Make Millionaires – At the end of the day, those that aggressively make moves early on are the companies that are likely to emerge as leaders of emerging markets. This is yet another example of the company’s aggressive efforts to become one of these leaders. Should the company continue in this direction, it will likely become a cornerstone in the United States CBD market.
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 revenue growth as it continues to expand its retail reach. We’re also looking forward to more announcements down the line surrounding more agreements with large chains and big box stores throughout the United States. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!
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