Multi-State cannabis company Orchid Ventures, Inc. (CSE:ORCD, OTC:ORVRF) (“Orchid Ventures” or the “Company”) announces that it has entered into a COVID-19 Emergency Response. Operations will continue and staff has been instructed to work from home if their job permits, which applies mostly to the office in California. The Company’s Oregon operations are still open, but under strict COVID-19 emergency guidelines and are awaiting further instruction from local government agencies. PurTec manufacturing partners and the supply chain in China are operational and have been active since March 3rd. The Company is experiencing much fewer slowdowns and hurdles than most other manufacturers in China. Despite the epidemic, Orchid brand sales are doing exceedingly well. The company is seeing a large increase in order volume from several key accounts including increased sales through a major state-wide delivery company in California.
COVID-19 is a very serious issue that the entire globe is dealing with at this point, and the Company takes the health of their employees and that of the general public very seriously. Though the Company will be adjusting how they conduct business, they will continue to supply products to consumers and business clients. The Company’s manufacturing partner in China is one of the largest in the industry and fully operational and ready to manufacture PurTec products. Slowdowns are to be expected, although far less than in months prior and less than most other manufacturers.
“We are currently working with dozens of cannabis brands throughout North America and our integration team is working diligently to ensure our clients do not have critical delays in their supply chain.”, said Corey Mangold, Founder & CEO of Orchid Ventures. “We have been following Covid-19 developments since the very beginning, and we have taken proactive actions to ensure that any delays we experience are the shortest they can possibly be given the current situation. I’m very satisfied and proud of the PurTec team and our manufacturing partners’ performance. We understand the current issues and have been able to stabilize the supply chain to the furthest extent possible. Additionally, our Orchid branded cannabis products are continuing to be manufactured in Oregon and California and we hope that continues, but given the evolving and changing circumstances surrounding Covid-19 , we can’t predict how long our local manufacturing partners will be permitted to keep their doors open. Furthermore, we have taken actions throughout our organization to limit exposure for our staff. Non-production related employees have been instructed to work from home, and we have implemented procedures for cleaning, necessary business travel, and post-travel confinement to help reduce the risk of COVID-19 exposure for our staff. We are diligently following guidance from the Centers for Disease Control and Prevention (CDC). Importantly, we are providing emergency paid time off for employees that are not feeling well and need to stay at home, plus they will not lose any pay. We are taking COVID-19 very seriously and we’re doing everything in our power to keep our staff safe, and ensure that our customers experience minimal interruptions during the normal course of business.”
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 hardware delivery systems for cannabis and hemp-based products to create strong brand synergy and a superior customer experience. Importantly, PurTec products are emissions tested at the most stringent standards in the world set by the European Union, giving companies a unique point of differentiation.
Independent Board Members Tom Soto and Robert MacDonald have resigned from the Orchid Ventures Board of Directors to focus on other business initiatives. The company will continue to communicate and seek advice from Tom and Robert moving forward. A search for their replacements is underway. The company expects to identify and attract new, highly qualified candidates that will be able to meet the standards that Tom and Robert have created, plus provide the company with the expertise and experience that will significantly impact the ability to deliver on growth strategies and financial goals.
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. 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 launched PurTec, 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 pricing. With a continued focus on brand and intellectual property development, Orchid will continue to create new and innovative products and technologies, bring them to the global cannabis market, and set the gold standard for delivery systems. 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.
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.