Fort Lauderdale, FL, June 10, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Veritas Farms, Inc. (OTCQB: 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 the commencement of its 2020 outdoor planting season and implementation of several significant improvements to its farming practices and genetics program that are expected to increase the outputs of minor cannabinoids and terpenes, and improve the biodiversity of its Pueblo, Colorado farm.
For the 2020 season, the Company is working with new hemp strains to increase the presence of minor cannabinoids, including CBG, CBN, and CBDV, as well as terpenes and accordingly, expects to achieve a 20% increase in outputs of minor cannabinoids. The increase in these minor cannabinoids will be used in formulations across the Company’s product portfolio to increase the efficacy of the entourage effect and for research and development of new products.
Veritas Farms has also planted two acres of strains that have proprietary genetics owned by the Company, which are designed to further increase future harvests’ cannabinoid and terpene yields.
In addition, the Company has started planting rotational crops of peppers, tomatoes, squash, beans, carrots, and radishes. These rotational crops serve multiple purposes; they support healthy soil and attract pollinator species that increase biodiversity. The increase in biodiversity aids in furthering the Company’s integrated pest management (IPM) program that bolsters natural methods of cultivation instead of a reliance on chemical pesticides and fertilizers.
Spencer Fuller, Veritas Farms Vice President of Agriculture, commented “We are excited about the new cultivars that we are testing this year. Last year we improved our labor efficiencies and this year we are improving our cannabinoid ratios and bringing some really unique minor cannabinoids to the forefront in our plants.”
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 Statements
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.