Orchid Clarifies News Release Regarding New Board Member With Decades Of Global CPG Management
Friday, July 5, 2019 10:20 AM
Rick Brown Joins Multi-State Cannabis Brand Orchid Ventures Board of Directors
IRVINE, CA / ACCESSWIRE / July 5, 2019 / Premium cannabis brand Orchid Ventures, Inc. (OTC PINK: ORVRF) (CSE: ORCD) (“Orchid Ventures” or the “Company”) announces that at the request of IIROC the Company would like to clarify the press release issued earlier today. The Company announces today the appointment of Richard Brown to the Company’s Board of Directors.
Mr. Brown brings extensive operational experience that spans a diverse set of industries such as CPG, Retail, Health Care and Financial Services. During his career, he specialized in both scaling up companies with high-growth potential and transforming businesses to energize revenue growth. Most recently Brown was President of H&R Block’s Canadian operations, where he led the growth of tax and financial services for this $300 million company, plus built a proprietary digital tax software platform and e-commerce business. He also held senior executive positions at Burger King and Taco Bell in the US and PepsiCo Restaurants International in Canada, plus he spent 10 years in brand management with companies like Unilever, Gillette, and Lipton in the CPG sector.
At Orchid, Brown will focus on building the necessary infrastructure, operational expertise, and organizational talent required to execute our Multi-State Brand strategy and fuel momentum in the space. He will be responsible for building strong brand platforms and disruptive go-to-market strategies that will accelerate revenue growth across existing and new markets. With his experience building product innovation in the CPG sector and his knowledge of franchising and licensing, he will play an important role in our expansion plans by establishing contract manufacturing and licensing distribution agreements that will ensure a reliable and high-quality product supply that meets consumer demand expectations.
Tom Soto, Chair of the Board thanked Rick and stated, “as a long time veteran of consumer and retail brand success stories having Rick’s history, experience and passion for bringing high quality products to market will elevate Orchid to greater heights of competition and success. With the current acquisition that will take our company to over 130 employees, and the altitude at which we are scaling, Rick’s track-record will add great value. Thank you Rick for joining our team.”
“There are a lot of people who are skilled at generating short-term revenues, but we are focused on building a sustainable enterprise that delivers great brands and products to its consumers,” said Brown. “I’m thrilled to join an exceptional company in a dynamic space with a solid business model and a vision focused on delivering best-in-class products for the health and wellness sector.”
"Rick has a proven track record of maximizing operational excellence at large enterprises," said Corey Mangold, CEO, and Founder of Orchid Ventures. "We're thrilled to have him join our Board at this time of unprecedented growth, and his experience will add velocity to the global expansion of our portfolio of brands.”
ABOUT ORCHID ESSENTIALS
Orchid Essentials is an Irvine, Calif.-based brand that launched in Oregon and California in August 2017 and has since developed a mass-market brand and loyal consumer following with its premium vape products. Orchid’s products lines are currently sold in 350+ dispensaries across California and Oregon and are handcrafted and designed for maximum flavor and overall enjoyment. The company’s proven processes and passion for what it does carry through into its products. The end result is an unparalleled experience for new and practiced cannabis users alike. Orchid plans to expand its brand into new national markets, as well as global markets such as Latin America and Europe. With a continued focus on brand and intellectual property development, Orchid will execute strategic acquisitions to solidify an integrated cannabis manufacturing and distribution infrastructure with the goal of becoming a dominant premium cannabis brand in the United States. 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 CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY 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 (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.
SOURCE: Orchid Ventures, Inc.