VANCOUVER, WA / ACCESSWIRE / November 10, 2020 / ORCHID VENTURES, INC. (CSE:ORCD)(OTC PINK:ORVRF) (the "Company" or "Orchid"), a multi-state cannabis innovation company, is pleased to announce that multi-state brand, Stash Fine Edibles and Concentrates, has launched CELLg8® gummies in retail outlets throughout Oregon. These are the first THC CELLg8® products available in the US and feature clinically proven CELLg8® technology.
Pictured: Stash gummies featuring CELLg8® rapid-absorption bioavailability technology
Stash is an Oregon born edibles & concentrates brand that believes superior products have a higher purpose in life. Their new line of "fast acting" gummies, sold as a 50mg single pack in Apple Pie, Lemon Drop and Tangerine flavors are promoting an activation time of 5-10 minutes. "After 6 months of testing, internal focus groups and formulation development, we're ready to release the first and finest fast acting gummy to the Oregon market" says Sean Davis, CEO of Stash Brands LLC. "Stash gummies are also available in a 5 pack with 50mg of THC in Oregon and 10 pack 100mg THC in Oklahoma. All Stash gummies are Vegan and Non-GMO making them one of the highest quality gummies available in the industry."
"Today is an exciting day for our organization, and the future of bioavailability solutions that enhance the absorption time of edibles and the overall customer experience. The major difference between CELLg8® and other solutions is the quality and safety of the product and the fact that it's vegan, all-natural and surfactant free and doesn't require anything that is believed to be unhealthy or harmful" said Corey Mangold, CEO of Orchid Ventures, Inc. "The development process of this product has been months in the works and underwent several formulation adjustments to achieve the perfect product and user experience. The formulation team at Stash is an amazing group of highly experienced individuals that worked tirelessly with the team at CELLg8® Sciences to perfect the product. The delays that COVID-19 has placed on all companies, including our own, has definitely impacted the speed-to-market but we are pleased that our first client is now in the market with many others making good progress in formulation."
The Annual Financial Filings were not filed on or before the Filing Deadline due to the nature of business and the COVID-19 pandemic. The Company has been advised by its auditors, Dale Matheson Carr-Hilton Labonte CPAs, that they need more time to complete the audit.
The Company is working on the steps required to complete the Annual Financial Filings and expects to be able to file the Annual Financial Filings by December 28, 2020. The Company will provide updates as further information relating to the Annual Financial Filings becomes available.
The Company has applied to the applicable securities regulatory authorities and received a management cease trade order ("MCTO") imposed against the Chief Executive Officer and Chief Financial Officer of the Company precluding them from trading securities of the Company. The MCTO will be in effect until the Annual Financial Filings are filed and requires that the Annual Financial Filings be filed on or before December 28, 2020.
Until the Annual Financial Filings are filed, the Company intends to issue bi-weekly default status reports in accordance with National Policy 12-203 - Management Cease Trade Orders. The Company intends to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements. The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed. The company confirms that Dale Matheson Carr-Hilton Labonte CPAs are working with the company to finalize the annual audits.
ABOUT ORCHID ESSENTIALS
Orchid Essentials is an Irvine, CA-based cannabis innovation company, 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 patent pending 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 ten 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.
CEO and Director
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.
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