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Veritas Farms Signs Memorandum of Understanding to Exclusively License Proprietary Extraction Technology
Veritas Farms Signs Memorandum of Understanding to Exclusively License Proprietary Extraction Technology.
About this update from Veritas Farms Inc.
[{"type":"text","content":"\n Fort Lauderdale, FL, July 07, 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 announce the Company has signed a Memorandum of Understanding with an international technology conglomerate to exclusively license and bring a proprietary extraction technique to the domestic U.S. hemp industry. The proprietary patent-pending extraction process utilizes water-soluble technology to extract the natural full-spectrum essence of the hemp plant, including all of its cannabinoids, terpenes, and flavonoids.  The technology provides extracts that are more easily absorbed by the human body due to their stable micro-molecular structure and greatly improves the efficiency, sustainability, and cleanliness of extraction processes by eliminating the use of solvents. Additionally, we believe that water-based extraction offers the Company an opportunity to improve the bottom line by reducing the steps and components required to extract full spectrum hemp oil. The proprietary extraction technology is currently being tested at the Company’s Pueblo, Colorado facility where on-going validation studies are being performed.  Alexander M. Salgado, CEO of Veritas Farms, believes “the validation of this technology could potentially result in a paradigm shift in the extraction and formulation of whole hemp plant products sold in the U.S.”   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 applicatio...