Fort Lauderdale, Florida, March 21, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Veritas Farms, Inc. (OTCQB: VFRM), a vertically-integrated agribusiness focused on the production of full spectrum hemp extracts with naturally occurring cannabinoids, is pleased to report that the Company’s latest sales and marketing initiatives have resulted in more interest and stronger than anticipated sales growth from international markets.

Derek Thomas, V.P. of Business Development at Veritas Farms, Inc., commented, “The potential market for Veritas Farms hemp extracts and hemp extract products has been expanding rapidly as more consumers and distributors realize their many benefits.  This expansion is not restricted to our domestic market and extends internationally to include countries in Europe, the Americas, and the Caribbean that permit our products to be imported.”

“During the last quarter, the number of inquiries received from potential international Veritas Farms customers has increased significantly and subsequent international sales at the distribution level have been steadily increasing.  In Europe, sales to our largest distributor have more than tripled from initial orders in late 2018.  In the Caribbean, we are looking to expand distribution into multiple countries over the next quarter.  We expect this international market expansion and sales growth trend for hemp extract products to continue.”

Industry reports indicate that the market for hemp-based products is estimated to grow by 700% by 2020, and a report by market intelligence firm Hemp Business Journal projects that the market will expand to $2.1 billion by 2020, a substantial increase compared to 2017’s market value estimated at $291 million.  Based on the passing of the 2018 Farm Bill in the United States which provided a legal framework for industrial hemp and industrial hemp-based products, many industry experts have increased their sector revenue growth estimates to in excess of $20 billion annually by 2022.   

Mr. Thomas concluded, “We are excited to work with our current clients and develop new relationships to grow our exposure and sales in key international markets.  In order to capture more market share and better serve clients, we plan to focus more resources on international sales over the coming months.”

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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 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 extract 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

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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.