Veritas Farms seeking up to $6 million in stock offering
Industrial Hemp NewsMarijuana Laws, Regulations, & Politics September 23, 2020 MJ Shareholders 0
Florida CBD maker Veritas Farms is looking to raise up to $6 million to boost marketing and to expand a production and distribution facility in Colorado.
The Fort Lauderdale company announced Wednesday that it will offer 8 million shares at 50 cents each to raise $4 million. The action gives the company the option to expand the offering to 12 million shares to raise $6 million.
The company, which grows hemp in Pueblo, Colorado, says it will use the money for:
- Marketing and sales efforts.
- Building out a new manufacturing and distribution facility near the Denver airport.
- Developing new strains of hemp and additional products.
- Software upgrades and other corporate purposes.
Veritas makes CBD products sold online and in FDM channels. The company trades on over-the-counter markets as VFRM.
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