Fort Lauderdale, Florida - (NewMediaWire) - September 19, 2019 - A correction has beenissued for the Veritas Farms, Inc. release disseminated today at 4:15 PMET. The post-Reverse Split CUSIP Number was incorrectly listed. Thecorrected release follows:
Veritas Farms, Inc.(OTCQB: VFRM) (“Veritas Farms” or the “Company”), today announced that FINRAhas approved a 1-for-4 Reverse Split of the Company’s common stock (the“Reverse Split”). As a result, every 4 pre-Reverse Split shares of commonstock outstanding will automatically combine into one new share of post-ReverseSplit common stock without any action on the part of the holders.
Alexander M. Salgado,CEO and co-founder of Veritas Farms, commented, “We are very excited to havetaken this positive step to reduce the number of outstanding Veritas Farmscommon shares which will position the Company for a potential uplisting to amore senior stock exchange in the near future. We anticipate thisstrategy will help to enhance liquidity, maximize valuation, and make theCompany more attractive to potential investors of all sizes, particularlyinstitutional and international investors.”
The Company’s commonstock will begin trading on a post-Reverse Split basis at the opening oftrading on Friday, September 20, 2019. In connection therewith, theCompany's ticker symbol will be VFRMD for twenty (20) trading days to designatethat it is trading on a post-Reverse Split basis. In addition, ourpost-Reverse Split common stock will trade under the new CUSIP Number92347N207.
Following the ReverseSplit, the number of shares of the Company’s issued and outstanding commonstock will have been reduced from 147,737,486 to approximately36,934,380. The Reverse Split will also apply to shares of common stockissuable upon the conversion of outstanding warrants and stock options. No fractional shares will be issued as a result of the Reverse Split. Anyfractional shares resulting from the Reverse Split will be rounded up to thenearest whole share on a per shareholder basis.
The Company expectsthat shareholders holding VFRM shares at registered brokerage firms or at thetransfer agent will have the Reverse Split transaction processed automaticallyin their accounts over the next few days. Shareholders holding physicalstock certificates may request new certificates evidencing their post-ReverseSplit shares by contacting the Company’s transfer agent, VStock Transfer LLC,at info@vstocktransfer.com or (212) 828-8436.
AboutVeritas Farms, Inc.
Veritas Farms, Inc.(OTCQB: VFRM) is a vertically integrated agribusiness focused on producingsuperior quality, whole plant, full spectrum hemp oils and extracts containingnaturally occurring cannabinoids. The Company currently owns and operatesa 140-acre farm and production facilities in Pueblo, Colorado, and isregistered with the Colorado Department of Agriculture to grow industrialhemp. The Company markets and sells products under its Veritas Farms™brand and manufactures private label products for a number of leadingdistributors and retailers.
Veritas Farms™ brandfull spectrum hemp oil products include vegan capsules, tinctures, formulationsfor sublingual applications and infused edibles, lotions, salves, and oralsyringes in a variety of size formats and flavors. All Veritas Farms™ brandproducts are third-party laboratory tested for strength and purity. TheCompany files periodic reports with the Securities and Exchange Commission,which can be viewed at www.sec.gov.
For additionalinformation and online product purchase, visit www.theveritasfarms.com.
Veritas Farms, Inc. -Investor Contact
Toll-Free: (888)549-7888
E-mail:ir@theveritasfarms.com
Veritas Farms, Inc. -Social Media
Instagram: www.instagram.com/veritasfarmsofficial/
Facebook: www.facebook.com/VeritasFarmsOfficial/
LinkedIn: www.linkedin.com/company/veritasfarms/
Twitter: www.twitter.com/theveritasfarms
Cautionary LanguageConcerning Forward-Looking Statements
This press releasecontains “forward-looking statements” within the meaning of the safe harborprovisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those withrespect to the Company’s mission statement and growth strategy, are“forward-looking statements.” Although the Company's management believesthat such forward-looking statements are reasonable, it cannot guarantee thatsuch expectations are, or will be, correct. These forward-lookingstatements involve many risks and uncertainties, which could cause theCompany’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, general economicconditions and conditions affecting the industries in which the Companyoperates; the uncertainty of regulatory requirements and approvals; and theability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results todiffer materially from these forward-looking statements is available in theCompany’s filings with the Securities and Exchange Commission. TheCompany assumes no obligation to update any of the information contained orreferenced in this press release.