I really like this news release...very good value at current share price to get into the deal...
Orchid Ventures Announces The Launch Of A New Subsidiary, PurTec Delivery Systems, A Delivery System Technology Company
IRVINE, CA / ACCESSWIRE / February 26, 2020 / Multi-State cannabis company Orchid Ventures, Inc. (CSE:ORCD)(OTC:PINK:ORVRF) ("Orchid Ventures" or the "Company") announces the launch of a new subsidiary, PurTec Delivery Systems, LLC ("PurTec").
PurTec designs and sells proprietary, patent pending hardware delivery systems to the Cannabis and CBD industries both in North America and globally. With the development of Orchid Essentials in 2017, the company realized it's Vape hardware has yet to be beat in the cannabis industry, and since inception, has been considered one of the best delivery systems on the market. The Company has spent the past 3 years developing manufacturing standards and protocols that have created unique hardware options that the Company believes to be safer, more effective, and providing a better user-experience than any other vaporizer hardware line available today. Consistent with the company's position "to build consistent, high quality brands and products that consumers can relate to and trust", PurTec products are built with the highest quality materials, are emissions and leach tested to ensure consumer safety and are uniquely designed to create an optimal consumer experience.
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"Since launching the Orchid Essentials vape line in 2017, we have always focused on engineering hardware that would outperform others, as well as being clean and safe for consumers. Though government agencies in the US do not require emissions testing at this time, we believe they will soon integrate this level of testing into their standard protocols and regulatory standards to ensure consumer safety. Creating effective and clean products is challenging due to the difficulty of sourcing quality materials that don't contain trace chemicals and heavy metals that leach into the oil, and more importantly, can be vaporized and inhaled by consumers", said Corey Mangold, Founder & CEO. "The PurTec line of hardware is a common sense purchase for companies selling vape products, as our products perform better than the competition, are value priced and are tested clean and safe from harmful emissions. We know that vape isn't going anywhere, it's a preferred consumption method by a large percentage of cannabis users over the age of 25 and we feel that PurTec will be the perfect shift in our business that is non-cannabis touching."
"The launch of PurTec was something that we had been considering for some time and as we strategically pivoted the company toward a more diversified position our focus turned to unlocking revenue potential by expanding more rapidly into non-vape cannabis products, including entry into the CBD marketplace, plus building new businesses around our core IP equities and development opportunities. The launch of PurTec is just the initial step in a multi-year program to expand the Orchid enterprise into additional lines of business that will create value for our shareholders.", said Richard Brown, President of Orchid Ventures.
Initially Purtec will be launching two ceramic coil cartridges at a price point considerably less than comparable products in the market due to improved design and engineering. Also, PurTec is launching a revolutionary disposable product that hits better, delivers more flavor, and is a fraction of the cost of other disposables. The Company has also created PurTec Concierge as a complimentary service for PurTec clients. This service will help customers launch new products, setup and streamline production facilities, including setting up automation production lines, filling machines, and overall improving efficiencies.
In addition, PurTec will also be launching the ‘Orchid Platform' where we will be direct-selling PurTec products and Orchid services to various brands, processors and retailers that want a white-label product to extend their business. We will assist clients with developing their co-branded product where they will use our PurTec hardware and packaging, or help them source oil, fill product, manage compliance, and distribute the product into the market. The Company has already launched the Orchid Platform and is in production for select retailers to provide them with their own product line, without the headache of managing a supply chain.
"As PurTec expands, the company is focused on bringing more proprietary technology and delivery systems to the market. We do not intend to focus purely on vaporizers, and are working with companies to develop cannabinoid delivery systems for other product applications. Overall, we are excited about this new division as it continues to diversify our revenue streams, and most importantly continues our path of ‘Creating the Highest Standards in the Cannabis Industry'." said Corey Mangold, Founder & CEO of Orchid Ventures.
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PurTec Orchid, PurCore Summit, PurSilo disposable. All available in .5g or 1g.
The PurTec products can be seen at www.PurTecDesigns.com and are now available for sale to companies in the US and internationally. The PurTec design team works with clients to customize their products to create strong brand synergy with the hardware and give companies unique differentiators. All products are emissions tested at European Union emissions testing standards.
ABOUT ORCHID ESSENTIALS
Orchid Essentials is an Irvine, CA-based multi-state operator 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. Orchid's product lines are currently sold in 350+ dispensaries across California and Oregon and are handcrafted and designed for optimal user-experience and overall enjoyment. The company's proven processes and passion for what it does carry through into its products. The end result is an unparalleled experience for new and practiced cannabis users alike. Orchid plans to expand its operations into new national markets, as well as global markets such as Latin America and Europe. With a continued focus on brand and intellectual property development, Orchid will continue to execute strategic acquisitions to further solidify it's vertically integrated infrastructure with the goal of becoming a dominant premium cannabis company in the United States. Orchid's management brings significant branding, product development and distribution experience with a proven track record of scaling revenues, building value-generating partnerships and creating enterprise value. Learn more at https://orchidessentials.com/