IRVINE, CA / ACCESSWIRE / November 8, 2019 / Premium cannabis brand company Orchid Ventures, Inc. (CSE:ORCD)(OTCPK:ORVRF) ('Orchid' or the 'Company') announces that further to its news release dated October 28, 2019 announcing that it terminated the First Amended and Restated Asset Purchase Agreement dated July 29, 2019 (the 'Agreement') between Orchid and GreenBloom Cannabis Company (the 'Seller'), it has received formal notice that the Seller is seeking formal arbitration to resolve the disputes among the parties related to the Agreement and the termination thereof. The Company intends to vigorously defend its interests and the interests of its shareholders.
ABOUT ORCHID ESSENTIALS
Orchid Essentials is an Irvine, Calif.-based brand that launched in Oregon and California in August 2017 and has since developed a mass-market brand and loyal consumer following with its premium vape products. Orchid's product lines are currently sold in 350+ dispensaries across California and Oregon and are handcrafted and designed for maximum flavor 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 brand 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 execute strategic acquisitions to solidify an integrated cannabis manufacturing and distribution infrastructure with the goal of becoming a dominant premium cannabis brand 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/
ON BEHALF OF THE BOARD of DIRECTORS
Orchid Ventures, Inc.
CEO, Founder & Director
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE
Cautionary Statement Regarding 'Forward-Looking' Information
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively 'forward-looking statements'). The use of any of the word 'will' and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon.. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
SOURCE: Orchid Ventures, Inc.
View source version on accesswire.com: