VERUS INTERNATIONAL ISSUES STRATEGIC UPDATE

Gaithersburg, MD, Oct. 13, 2020 (GLOBE NEWSWIRE) -- Verus International, Inc. (“Verus” or the “Company”) (OTCQB: VRUS) is providing this strategic overview in order to update investors on significant corporate events. The Company has begun implementing a strategic plan that it believes will position Verus for an eventual uplist to a major exchange. This plan has multiple, well-defined steps that management believes will lead to significant growth over the next four quarters.

Key elements of this strategy that are currently in process include:

• Streamlining of operations, most notably the termination of the ZC Top Apparel Manufacturing (“TAM”) agreement and deemphasis of non-core prospects outside of the consumer products space;
• Increased focus on domestic sales to bolster discussions with U.S. based sources of financing;
• Completion of a reverse stock split, whereby the shares of the Company’s Common Stock will be combined and reclassified into one share of Common Stock at a ratio of 1-for-500;
• Exploration of potential mergers with like-sized or larger companies; and
• Partnership discussions with major investment banks

“We were prepared to begin execution of this plan in early 2020, but are finally able to begin the process of removing some of the barriers to achieve even faster growth. Our planning was in conjunction with ongoing discussions with potential partners who are now seeking us out and after consultation with some very large consumer-products-oriented investment banks. Over the last several months, with extensive input from third-party consumer product experts, we assembled a check list of changes and actions that we determined were necessary to take Verus to the next level,” explained Verus CEO Anshu Bhatnagar. “As we are now implementing those changes, and have updated our forecast for the next four quarters, we also determined this reverse stock split ratio is most appropriate to move us toward achieving the minimum $4.00 per share price requirement for an uplist to the NYSE, while still leaving significant organic growth in the interim. The reverse stock split is also a necessary move because our sub-penny per share price had become a stumbling block to promising merger and partnership opportunities.”