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Orchid Ventures (CSE:ORCD, OTC PINK:ORVRF) announced a reduction in the exercise price of certain common share purchase warrants from $0.18 to $0.09 for up to 10,115,089 common shares. The expiry date has been extended from October 24, 2021 to October 24, 2023. These warrants were originally issued on October 24, 2019, during a private placement, and have not yet been exercised. Approval from the Canadian Securities Exchange is required for these amendments.
Orchid Ventures (CSE:ORCD, OTC PINK:ORVRF) announces a proposed share consolidation at a ratio of 1:4, pending approval from the Canadian Securities Exchange. Currently, the company has 111,372,575 shares, which will reduce to approximately 27,843,144 post-consolidation. Additionally, Orchid plans a non-brokered private placement of up to 15,000,000 units at $0.25 each, aiming for gross proceeds of $3,750,000. The company is also settling $50,000 in debt through the issuance of shares. Orchid continues its strategic shift towards a licensing model for its cannabis brand.
Orchid Ventures, Inc. (CSE:ORCD)(OTC PINK:ORVRF) announced the launch of its products in new retail accounts across California, including SDRC, High Times Delivery, Sundial Collective, and Redwood Herbal Alliance. The company is expanding its sales initiatives and building more inventory than in the past year, ensuring that retail clients have adequate stock. Orchid also intends to finalize its annual financial audit by December 28, 2020, due to delays linked to COVID-19. No other material information was disclosed.
Orchid Ventures (CSE:ORCD, OTC PINK:ORVRF) has announced a new Sales and Distribution agreement with Landrace, LLC to enhance sales in California. This partnership aims to leverage Landrace's extensive sales expertise within the cannabis sector, resulting in increased sales and distribution points for Orchid's products across the state. Orchid's Chief Revenue Officer, Luke Hemphill, emphasized the importance of providing high-quality products and customer service, while Landrace's CEO, Scott Norviel, highlighted their commitment to promoting Orchid's premium offerings effectively.
Orchid Ventures, Inc. (CSE: ORCD, OTC PINK: ORVRF) announced that its subsidiary, PurTec Delivery Systems, is now selling premium vaporizer hardware in four Canadian provinces. The company has successfully delivered over 500,000 cartridges and anticipates significant market growth. CEO Corey Mangold highlighted the challenges faced during the COVID-19 pandemic but expressed optimism regarding international expansion. However, the company reported delays in Annual Financial Filings due to ongoing audits, which are expected to be completed by December 28, 2020.
Orchid Ventures, Inc. (CSE:ORCD)(OTC PINK:ORVRF) has launched its first THC CELLg8® gummies in Oregon, utilizing clinically proven technology for rapid absorption. The gummies, available in multiple flavors, promise an activation time of 5-10 minutes. Despite delays due to COVID-19, the company aims to file its Annual Financial Filings by December 28, 2020. A management cease trade order has been placed against its CEO and CFO until filings are complete. Orchid is committed to transparency during this period and reports no other undisclosed material information.
Orchid Ventures, Inc. (CSE: ORCD OTC: ORVRF) has announced the successful development and testing of two new products: a disposable vape and a highly tested value cartridge. Both products met rigorous leach testing and emissions standards, ensuring safety for consumers. Chief Revenue Officer Luke Hemphill emphasized the company’s mission to provide safe and reliable vaporizer products for all market segments. The new products are now available globally, aimed at satisfying the growing demand for emissions-tested hardware.
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