Gaithersburg, MD, Aug. 22, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- RealBiz Media Group, Inc. (OTC:RBIZ) (the “Company”) is pleased to announce that it has filed with the State of Delaware and FINRA to change both its name and stock symbol. The Company did not implement a reverse stock split or any other corporate actions as part of this filing. The new Company name will be Verus International, Inc. and the proposed symbol will be VRUS, pending approval by FINRA.
“We chose the Verus International name for strategic reasons,” explained CEO Anshu Bhatnagar. “We sell to retailers who also carry many categories of non-food consumer products, in some cases (such as drugstores) representing more than half of their shelf space. Over the last year, we have been approached by multiple manufacturers who would like to sell into our retail base. The Verus International name will give us the flexibility to form non-food subsidiaries to capture this kind of business in the future.”
This strategy is consistent with the Company’s plan to create a robust distribution network supported by both Verus-owned and third-party brands. In addition, the Company periodically has seasonal opportunities involving event-driven retailing, such as the recent FIFA World Cup.
“The food division will continue to operate as Verus Foods and will represent the majority of our business,” said CEO Bhatnagar. “But, based on opportunities presented to us during the last year, we also want the flexibility to extend our reach into other consumer product categories, particularly those that are already found in our customers’ stores.”
Investors are invited to track new product information via the Company’s Twitter feed @Verus_Foods.
About RealBiz Media Group, Inc.
RealBiz Media Group, Inc. operates an international food business under the name “Verus Foods, Inc.” The Company recently spun-off its real estate division and will undergo a name and symbol change in the near future.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
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