VANCOUVER, BC / ACCESSWIRE / May 4, 2021 / Orchid Ventures, Inc. (the 'Company' or 'Orchid') (CSE:ORCD)(OTC PINK:ORVRD) announces it has entered an exclusive licensing agreement with Gold Flora, a vertically integrated California company with operations in cannabis cultivation, manufacturing, distribution, delivery, and retail.
• Gold Flora will be assuming all production, sales, and distribution of Orchid Essentials products throughout the state of California.
• Gold Flora will also be purchasing all hardware, packaging, and terpenes through PurTec Delivery Systems, a wholly owned subsidiary of the Company.
Rick Brown, President of Orchid Ventures, expressed his confidence in the move: 'We are excited to announce that Gold Flora has licensed the Orchid Essentials brand in the state of California. Gold Flora is a fully integrated cannabis company that is highly respected in the industry, and has had tremendous success with its brand and business portfolio. They are clearly one of the highest growth operators in the state, and we've been impressed with their leadership and the quality of their operations. We are confident that the Orchid Essentials brand will be in good hands and is well-positioned to fully realize its growth potential under the leadership of the Gold Flora team.'
He continued, 'This is another important step in our goal of making Orchid Essentials a national brand in the United States. With Gold Flora as our licensing partner, their experience, operational expertise, and access to capital will accelerate expansion of the brand and continue its path toward achieving a leadership position in California, the largest recreational cannabis market in the world.'
Laurie Holcomb, Founder and Chief Executive Officer at Gold Flora, is equally confident the partnership has a bright future: 'It is a privilege that the Orchid family has chosen to place their brand trust, loyal customer base, and innovative PurTec hardware technology in Gold Flora's hands. With our vertical integration capabilities, we're able to service every step of the process to ensure the highest quality, consistency, and availability of products throughout the entire state.'
Holcomb also emphasized Gold Flora's capabilities for taking brands like Orchid to the next level: 'With our state-of-the-art indoor cultivation, industry-leading manufacturing and extraction facility, extensive distribution network for retail sales, and brand expertise all under one roof - our team is able to focus on increasing both the depth and placement of the Orchid product line while maintaining brand integrity. Through the premium experiences that both our unique products provide, we are looking forward to the future and building upon those namesakes for years to come.'
About Orchid Ventures, Inc.
Orchid Essentials 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://orchidessentials.com/
About Gold Flora
Gold Flora is a California-licensed premium cannabis company. Founded in 2017 in Southern California, it's also one of the few cannabis brands that is vertically integrated and woman-owned and operated. Gold Flora was built from the ground up by a team of experts with decades of experience and deep roots in the compliant cannabis industry. Gold Flora started with a mission to provide an easy and consistent way for consumers to enjoy cannabis. After years of hard work and a shared passion for the plant, Gold Flora has become a California powerhouse - with cultivation, manufacturing, extraction, distribution, retail, and a brand that creates superior products that truly make a difference in people's lives.
Gold Flora Farms is located within commonly controlled, BlackStar Industrial Properties, a 620,000 sq. ft. pharmaceutical-grade indoor cannabis campus at full build-out, located in Desert Hot Springs, CA. This state-of-the-art cannabis campus is fully licensed and houses some of the world's leading cannabis brands and companies across all sectors. Learn more at www.goldflora.com.
ON BEHALF OF THE BOARD OF DIRECTORS - ORCHID VENTURES, INC.
CEO and Director
CAUTIONARY STATEMENT REGARDING 'FORWARD‐LOOKING' INFORMATION: This news release contains forward‐looking statements. The Company has provided the forward‐looking statements in reliance on assumptions that it believes are reasonable at this time. The reader is cautioned that the assumptions used in the preparation of the forward‐looking statements may prove to be incorrect. All such forward‐looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, delays resulting from or inability to obtain required regulatory approval. The actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward‐looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward‐looking statements will transpire or occur, or if any of them do, what benefits, including the amount of proceeds, the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
SOURCE: Orchid Ventures, Inc.
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