Fort Lauderdale, FL, March 31, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Veritas Farms, Inc. (OTCQB:VFRM) (“Veritas Farms” or the “Company”), a vertically integrated agribusiness focused on the production of full spectrum hemp oil products with naturally occurring cannabinoids, is pleased to highlight the growth in the Company’s Ecommerce traffic and revenue.
Veritas Farms has positioned itself to drive growth via multiple revenue channels including chain retail, independent retail, private label manufacturing and ecommerce sales.
As COVID-19 developments present new challenges, the Company is well positioned to pivot amongst its revenue channels to capitalize on current market opportunities. With recent stay-at-home mandates increasing online traffic, the Company has leveraged its digital ecosystem to offer solutions to customers who have financial and health concerns while growing online traffic and revenue.
The success of these digital campaigns has become apparent, with online revenue growth of over 150% compared to January 2020. The increase in traffic and revenue to the Veritas Farms website can be attributed to a multi-prong digital strategy leveraging organic search revenue – up 162% from January 2020, direct traffic revenue – up 110% from January 2020, referral revenue – up 200% from January 2020 and social media revenue – up 70% from January 2020, to name a few.
The Company intends to continue to capitalize on its ecommerce initiatives in order to provide its community with access to the products they need at prices they can afford. This includes driving revenue growth while analyzing and optimizing strategies for medium- and long-term success during this current market climate and when normalization occurs.
Alexander Salgado, CEO and co-founder of Veritas Farms, stated, “Our team has been working hard to earn new customers and grow revenues while ensuring our customers can access and afford our products in these times. We will continue our innovative and effective digital strategies in order to continue to grow revenue in the current market climate.”
For more information or to purchase products, visit the Company website: www.theveritasfarms.com
About Veritas Farms, Inc.
Veritas Farms, Inc. (OTCQB:VFRM) is a vertically integrated agribusiness focused on producing superior quality, whole plant, full spectrum hemp oils and extracts containing naturally occurring cannabinoids. The Company currently owns and operates a 140-acre farm and production facilities in Pueblo, Colorado, and is registered with the Colorado Department of Agriculture to grow industrial hemp. The Company markets and sells products under its Veritas Farms™ brand and manufactures private label products for a number of leading distributors and retailers.
Veritas Farms™ brand full spectrum hemp oil products include vegan capsules, tinctures, formulations for sublingual applications and infused edibles, lotions, salves, and oral syringes in a variety of size formats and flavors. All Veritas Farms™ brand products are third-party laboratory tested for strength and purity. The Company files periodic reports with the Securities and Exchange Commission, which can be viewed at www.sec.gov.
Cautionary Language Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the Company's mission statement and growth strategy, are “forward-looking statements.” Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve many risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Veritas Farms, Inc. - Investor Contact
888-549-7888
ir@theveritasfarms.com