VANCOUVER, BC / ACCESSWIRE / March 17, 2022 / Orchid Ventures, Inc. (the "Company" or "Orchid") (CSE:ORCD) (OTC PINK:ORVRF), a multi-state cannabis innovation company, today announced it has entered into a distribution agreement with Rokin Inc. (Rokin Vapes), a Majority Owned Subsidiary of Limitless Venture Group Inc. (LVGI).
Per the terms of the contract, Rokin Vapes will be purchasing a minimum of 200,000 cartridges per month from PurTec Delivery Systems by month four (4).
"We are very pleased to announce a new distribution agreement with Rokin, a company that has the experience and professionalism that we look for in all of our partnerships. Rokin has built an impressive business with an extensive customer base, which continues to grow." said Richard Brown, President of Orchid Ventures, Inc. "The partnership with Rokin will allow them to extend their product portfolio with PurTec's premium vaporizer products and technologies, so that they can accelerate growth with their current client base and enable them to better attract new customers. In terms of the impact on PurTec, this agreement will equate to several million dollars in revenue over the next 12 months. Our new Director of Sales, Jessica Cox, has a long standing relationship with the leadership team at Rokin and was instrumental in securing this partnership. In her first couple weeks working with the PurTec team, Jessi has made a big impact and has significantly contributed to our sales efforts. We continue to increase our pipeline of sales prospects and are confident in our ability to close deals and grow revenue."
"Rokin is extremely excited to partner with PurTec to sell PurTec hardware. We feel that the synergy between the 2 companies is strong and that there is a good fit in terms of our values and market objectives. This opportunity will enhance Rokin's growth strategy, and with the PurTec premium vaporizer products and exciting new technologies it will expand Rokin's product offerings, which will create new opportunities to accelerate growth and enable Rokin to achieve our aggressive sales plans.'' said Daryl Bauer, CEO of Rokin Inc.
ABOUT ROKIN
Rokin, founded in 2016, has a mission to provide our customers with the highest quality, most technology driven vaping products available, while providing exceptional customer service. We proudly took our name in 2002 from a visit to the Rokin district in Amsterdam where we learned the art of vaping at the local cafes. Our goal is to capture the vaping market with flair by providing the community of users with high value, good looking and superior performing products at everyday affordable prices.
Rokin is a subsidiary of Limitless Venture Group, Inc, a publicly traded company. https://www.lvginc.com/
ABOUT ORCHID VENTURES
Orchid Ventures is a California-based cannabis innovation company that has developed a mass-market brand and loyal consumer following with its premium cannabis products and unique vape hardware delivery systems. Orchid also owns 100% of 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'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://purtecdesigns.com/
ON BEHALF OF THE BOARD OF DIRECTORS - ORCHID VENTURES, INC.
Corey Mangold
Founder, CEO and Chairman
[email protected]
Investor Relations
Corey Mangold
1-949-357-5818
[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 Ventures, Inc.