Leading Cannabis Brand in California and Oregon Lists on the Public Markets
COSTA MESA. Calif., March 26, 2019 /CNW/ -- Orchid Ventures, Inc. ("Orchid"), with its award-winning cannabis brand Orchid Essentials, initiated trading on the CSE under the ticker ORCD on March 18, 2019. This is yet another milestone for the fast-growing Cannabis brand that became a top-selling brand the first year it entered the Oregon market and has plans to meet those same goals in California this year. Orchid was co-founded by Corey Mangold, a serial entrepreneur that has founded multiple successful ventures, and built and marketed brands of products sold around the world, and Rene Suarez, an entrepreneur with a proven track record of developing products that the consumer is looking for in the market. Both Corey and Rene are California natives.
"The public listing of our shares signifies an important milestone for our company as we seek to expand our footprint in our current markets of California, Oregon and beyond," says Corey Mangold CEO and Co-Founder of Orchid Essentials. "We are also gratified to offer our loyal customers and the public access to our shares alongside our longtime early investors."
"Since day one, Corey and I set out to build a company focused on premium quality, calculated expansion and a strong brand," says Rene Suarez, President and Co-Founder of Orchid Essentials. "Finding the right partners has been critical in our growth in this emerging market. Our listing on the CSE is a big step towards reaching our goal, and, establishing Orchid as a leading cannabis company across global markets. Keep watching as there is so much more coming from our team in the near future."
As the CEO of Orchid, Corey brings 20 years of start-up experience and a knack for developing successful companies. Corey is also the principal and co-founder of Gigasavvy, a leading southern California creative marketing agency. He's established a thriving agency that has launched and managed campaigns for Toshiba, Knott's Berry Farm, Johnny Rockets, Hi-Chew Candy, Tenet Healthcare and Northgate Markets to name a few. Corey has also worked tirelessly to create a thriving culture at Gigasavvy that has been recognized, 4 out of the last 5 years, as a "Top 10 Places" to work in Orange County.
As the President of Orchid and former CSO/Partner at Space Jam, a leader in the nicotine/vape juice industry, Rene Suarez brings years of experience in supply chain operations and sales management and has a keen eye for accounting and statistics. At the beginning of his tenure with Space Jam, the company was generating $80k/mo. Through Rene's vision and strategic execution, sales grew rapidly over $1.6MM/mo in less than 6 months. Rene was ultimately responsible for driving over $15MM in sales revenue in 2014 which catapulted Space Jam towards becoming an industry leader.
As validation for the brand and the management team, Orchid was able to attract Tom Soto and Robert MacDonald, sophisticated and experienced political and financial influencers, to its Board of Directors.
Tom Soto is the Chairman of the Board for Orchid, and a long-time investor in the impact sector. His leadership, voice and investments range from Fintech, to electric vehicle technology and policy, to political process, regulatory frameworks and more. His presence in the impact sector as an investor and opinion leader over the past twenty years has been substantial, creating tectonic shifts in policy and in the lives of millions of people who now beneﬁt from improved health policies. Mr. Soto was also an appointee of President Bill Clinton to the State Department's Border Environmental Cooperation Commission which oversaw the $2.5b North American Development Bank's activities. In addition, he was President Barack Obama's Co-lead of the Executive Oﬃce of the President's Transition Team for The White House Council on Environmental Quality from November of '08 to January of '09.
Robert MacDonald is the Chair of the Audit Committee for Orchid and, an influential, trusted advisor with deep Board and corporate governance expertise in energy, clean technology, banking, and manufacturing industries. He has had success in raising billions of dollars in capital to catapult startups and growth companies into thriving, profitable entities. Mr. MacDonald has served on 23 Board of Directors for 16 private and 7 public companies and has raised over $8 billion in funds over his extensive career. His experience varies from co-founding and leading the development of one of the country's first fully integrated independent power production companies to helping create two of the largest municipal joint action agencies in California.
Within two years of formation, Orchid has secured distribution in over 250 locations and offers 12 SKUS with many more in development. Orchid has plans to expand into new markets in the US and globally. Orchid is in the process of securing licensing to gain more control of its supply chain and plans to launch its first phase of its CBD line next month.
The Canadian Securities Exchange, or CSE, is operated by CNSX Markets Inc. Recognized as a stock exchange in 2004, the CSE began operations in 2003 to provide a modern and efficient alternative for companies looking to access the Canadian public capital markets.
About Orchid Essentials
Orchid is an award-winning cannabis brand with THC and CBD product lines currently sold in 250+ dispensaries across California and Oregon. Orchid plans to expand its brand into new markets such as Nevada, New York, Puerto Rico, Canada and other global markets. 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, manufacturing, and distribution experience with a proven track record of scaling revenues, building value generating partnerships, and creating enterprise value.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.
Contact: Rosie Mattio, [email protected]
SOURCE Orchid Ventures, Inc.