IRVINE, CA / ACCESSWIRE / June 9, 2020 / ORCHID VENTURES, INC. (CSE:ORCD) (OTC PINK:ORVRF) (the "Company" or "Orchid"), a multi-state cannabis innovation company is pleased to announce it has partnered with Driven (OTCQB:DRVD) to launch Orchid on their new ecommerce platform, Brand Budee. Driven is California's fastest growing online cannabis retailer and direct-to-consumer logistics company and its new ecommerce platform Brand Budee, allows Orchid customers to purchase directly from the Orchid website for delivery throughout the state of California.
"We are excited to be partnering with Driven on the new Brand Budee platform. We have already integrated it into our website and customers are now able to purchase products for delivery throughout the largest cannabis market in the country. Driven's other delivery service, GanjaRunner, has been one of Orchid's larger retail accounts for over a year and lately we have seen a significant increase in sales through their platform." said Corey Mangold, Founder & CEO. "We feel that this partnership will allow for more access to Orchid products as we continue to expand the licensing of the Orchid Essentials brand. It's a win for us, our licensees, and Driven."
"Driven and it's retail businesses, Ganjarunner and Budee, have had a long standing fruitful partnership with Orchid Essentials. The reputation and quality that accompanies Orchid's dedication to its customers is admired and shared by Driven," said Christian Schenk, CEO Driven Deliveries Inc. "We have seen great success together servicing California's consumers as a leading online retail partner and we look forward to accelerated momentum and continued competitive separation for both parties as a result of the implementation of the Brand Budee Widget on Orchid's website"
Orchid announces that the Board of Directors has approved a stock option grant, effective Monday June 1, 2020, for an aggregate of 7.9 million stock options (each, an "Option") to certain directors and officers of the Company in accordance with the Company's Stock Option Performance Plan. Each Option is exercisable into one common share in the capital of the Company at a price of $0.03 per share, being the closing price of the shares on the CSE on June 1, 2020, for a period of five years from the date of grant.
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 and unique vape hardware delivery system. 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 diversified its portfolio to include PurTec Delivery Systems, a company that produces, markets and sells 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 value pricing. Orchid, through its wholly owned subsidiary, has launched a patented and clinically proven bioavailability solution to increase the absorption of THC and other cannabinoids making products much more effective and an activation time of less than five minutes. With a continued focus on brand and intellectual property development, Orchid will continue to create new and innovative products and technologies, then bring them to the global cannabis marketplace and set the gold standard for delivery systems whether it's vape or formulation sciences. Orchid's management brings significant branding, product development and distribution experience with a proven track record of scaling businesses and building sustainable revenue growth through value-generating partnerships and innovation that creates enterprise value. Learn more at https://orchidessentials.com/
ON BEHALF OF THE BOARD OF DIRECTORS - ORCHID VENTURES, INC.
Corey Mangold
CEO and Director
[email protected]
Investor Relations
Corey Mangold
949-357-5818
[email protected]
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.
SOURCE: Orchid Essentials, Inc.