VERUS INTERNATIONAL SETS INITIAL CBD PRODUCT SHIPMENT SCHEDULE

Gaithersburg, MD, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Verus International, Inc. (“Verus” or the “Company”) (OTCQB: VRUS) is providing the following corporate update in order to give analysts and investors a description of current business trends and to offer a roadmap for shipments of the Company’s new Pachyderm Labs (“Pachyderm”) cannabidiol (“CBD”) products. As previously reported, Verus recently received sufficient inventory at its Houston, Texas facility to support the first phase of distribution.

The Pachyderm goal for August is to finalize commitments to be in approximately 500 locations by early September, with shipments concentrated in four states – Texas, Florida, Alabama and Georgia. Phase one distribution will target a mix of specialty and small retailer stores that carry CBD products. In terms of product mix, the Company has already developed 32 SKU’s (stock keeping units) and will initially sell a minimum of 9 different SKU’S per location consisting of topicals and edibles. Pachyderm currently has two brands, “Elephant Hemp” and “U-Try CBD,” representing a full line of products in multiple flavor and aroma variations, covering health-enhancing oils, creams, lotions and CBD-infused edibles. Included in this mix are four newly unveiled CBD-infused energy shot flavors, which are expected to become a featured part of the Pachyderm line.

“This is the first phase of a channel filling period under which we have targeted 10,000 or more stores by early 2021,” explained Verus CEO Anshu Bhatnagar. “We will receive sell-through data after we log a couple of months on retail shelves, but we are pleased with our initial feedback from retailers and customers who have seen and sampled our products. When we have enough locations verified as in-stock, we will publish a list of locations so that analysts and investors can try the products and experience the quality of our brands first hand.”

Operational Update

As part of a long-term plan to create a dedicated division focused on consumer health products, Verus is streamlining its operations by combining its Verus Cares division and CBD-products operations under a single Pachyderm Labs subsidiary. As part of this realignment, the Pachyderm team will take over a portion of the sales and development efforts at Verus Cares.

Big League Foods (“BLF”) is seeing a return to a sense of normalcy in its space following major pandemic related shutdowns. The division will update analysts and investors as new retailer initiatives go into effect. Looking to the future, BLF is currently in the planning stage to create packaging and molds for its next professional league introductions. The division’s goal is to have multiple professional sports brands that can overlap seasons, providing BLF a year-round presence on retailers’ shelves. This kind of rotation in seasonal offerings from a single source is highly desirable for retailers, particularly in the impulse aisle at checkout.