$VRUS: NEWS-VERUS INTERNATIONAL ANNOUNCES PROTECTIVE SUPPLY ORDER AND NAMES NEW PRESIDENT OF MEDICAL SUPPLY DIVISION
April 24, 2020 10:51 ET | Source: Verus International, Inc.
Gaithersburg, MD, April 24, 2020 (GLOBE NEWSWIRE) -- Verus International, Inc. (“Verus” or the “Company”) (OTCQB: VRUS)) is pleased to announce this update on its new medical supply division. The Company has finalized its first order, a $820,000 (USD) agreement for disposable medical gowns for a Danish customer. As it is customary with large production orders to receive an upfront deposit of at least 20% of the order total, the Company received a 30% deposit for this order. This initial order could expand into additional and larger orders in the future.
As part of the master plan to manufacture and develop a complete line of protective medical supplies, Verus is organizing its new medical division under the Verus Cares name. The Company has named Anders Gratte as President of the new division. As a co-owner of the Top Apparel Manufacturing (TAM) transaction, Mr. Gratte has significant experience with manufacturing and sales in the division’s target markets. His international experience is extensive and includes successful business start-ups in Sweden, Denmark, Philippines, South Africa, United Kingdom, and the United States.
“We are very excited to have someone of Anders’ caliber join the Verus team,” said Verus CEO Anshu Bhatnagar. “His international business experience is exceptional and his knowledge of manufacturing and sales in the protective medical supply market will give us a fast start as we begin to sign orders. We plan to develop a diversified product line that includes masks, gowns and other protective gear, giving us a full product offering with global appeal.”
In terms of operations, the logistical issues have improved to the point where the Verus Cares division expects to begin shipping sample quantities of masks within just a few weeks to prospective customers. Verus Cares has a significant number of contingent customer orders, pending approval of sample quantities, in addition to a growing number of request for quotes (RFQs) from large global entities seeking new sources of supply.
About Verus International
Verus is a global, emerging multi-line consumer packaged goods (CPG) company developing branded product lines in the U.S. and the Middle East; and medical protective supplies on a global basis. The Company trades on the OTC market (OTCQB: VRUS). Investors can find real-time quotes and market information for the Company on www.otcmarkets.com. Additional information is also available at the Company’s website, www.verusfoods.com, and via the official Twitter feed @Verus_Foods and the Big League Foods subsidiary Twitter feed @BigLeagueFoods.
Safe Harbor Statement
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results could differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Contacts
Investor Contact:
MKR Group Inc.
Todd Kehrli or Mark Forney
vrus@mkr-group.com
http://www.globenewswire.com/news-release/202...ISION.html
April 24, 2020 10:51 ET | Source: Verus International, Inc.
Gaithersburg, MD, April 24, 2020 (GLOBE NEWSWIRE) -- Verus International, Inc. (“Verus” or the “Company”) (OTCQB: VRUS)) is pleased to announce this update on its new medical supply division. The Company has finalized its first order, a $820,000 (USD) agreement for disposable medical gowns for a Danish customer. As it is customary with large production orders to receive an upfront deposit of at least 20% of the order total, the Company received a 30% deposit for this order. This initial order could expand into additional and larger orders in the future.
As part of the master plan to manufacture and develop a complete line of protective medical supplies, Verus is organizing its new medical division under the Verus Cares name. The Company has named Anders Gratte as President of the new division. As a co-owner of the Top Apparel Manufacturing (TAM) transaction, Mr. Gratte has significant experience with manufacturing and sales in the division’s target markets. His international experience is extensive and includes successful business start-ups in Sweden, Denmark, Philippines, South Africa, United Kingdom, and the United States.
“We are very excited to have someone of Anders’ caliber join the Verus team,” said Verus CEO Anshu Bhatnagar. “His international business experience is exceptional and his knowledge of manufacturing and sales in the protective medical supply market will give us a fast start as we begin to sign orders. We plan to develop a diversified product line that includes masks, gowns and other protective gear, giving us a full product offering with global appeal.”
In terms of operations, the logistical issues have improved to the point where the Verus Cares division expects to begin shipping sample quantities of masks within just a few weeks to prospective customers. Verus Cares has a significant number of contingent customer orders, pending approval of sample quantities, in addition to a growing number of request for quotes (RFQs) from large global entities seeking new sources of supply.
About Verus International
Verus is a global, emerging multi-line consumer packaged goods (CPG) company developing branded product lines in the U.S. and the Middle East; and medical protective supplies on a global basis. The Company trades on the OTC market (OTCQB: VRUS). Investors can find real-time quotes and market information for the Company on www.otcmarkets.com. Additional information is also available at the Company’s website, www.verusfoods.com, and via the official Twitter feed @Verus_Foods and the Big League Foods subsidiary Twitter feed @BigLeagueFoods.
Safe Harbor Statement
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results could differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Contacts
Investor Contact:
MKR Group Inc.
Todd Kehrli or Mark Forney
vrus@mkr-group.com
http://www.globenewswire.com/news-release/202...ISION.html
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