NEWPORT BEACH, CA--(Marketwired - November 03, 2016) - Vemanti Group, Inc. (OTC PINK: VMNT) a diversified holding corporation, announced today a new line of innovative cannabis-infused edible products to be developed and marketed by its wholly-owned subsidiary, MedicatedOne.
Eying the anticipated passing of Prop 64 in California and adoption of respective recreational products' guidelines, the target audience for these products is planned to be non-smokers who prefer dairy-free, gluten and sugar-free vegan edibles with lower dosages of cannabis derivatives for stress-relief and relaxation purposes.
"Think about a woman coming home after a long day and reaching out for a glass of wine to relax, or a flute of mimosa at Sunday brunch -- that was the inspiration for our R&D team to develop this new line of edibles to be offered soon by MedicatedOne," commented Tan Tran, CEO of Vemanti Group. He added, "Through our research groups, we found most people enjoyed and preferred cannabis consumption through non-smoking methods. Also, our findings showed that women in general felt more comfortable with a tapered down level of cannabis derivatives that featured better packaging design that fit their perception of being healthy-and-fun."
The company has engaged with an established, popular healthy food and lifestyle blogger who is advising it on recipes, packaging and other preferences of thousands of her followers. The new product line, which may start with such commonplace foods as homemade granola, peanut butter, energy bars and chocolate bites, will be eventually expanded and may include beverages and chewing gum. "Very few such products exist on the market today and we believe that we may be tapping into a potential multi-billion dollar market by introducing this new unique line of edible products designed for non-habitual recreational usage," further stated Tan Tran.
California, Prop 64
"A recent article from Forbes magazine stated, 'California is the biggest potential market in the country and the passage of Prop 64 will create an explosion in the value of compliant medical marijuana dispensary and cultivation licenses in good standing,'" said Steve Gormley, CEO of Seventh Point LLC, a private equity fund acquiring those kinds of assets throughout Los Angeles, California. "That's the precedent we've seen in Colorado, Oregon, Washington State, Alaska and D.C.," he said. "I have no reason to believe California will be any different."
Read the full Forbes article here: http://www.forbes.com/sites/julieweed/2016/10/17/marijuana-on-the-ballot-state-by-state-opportunities-for-entrepreneurs/#665706d75551
About Vemanti Group
Vemanti Group, Inc. (OTC PINK: VMNT) is a diversified holding corporation that's looking to be active in high-growth and technology-driven markets. The company plans to grow through acquisitions by looking for value-added and fundamentally-sound businesses to add to their portfolio. For details on Vemanti Group, Inc. and its portfolio, visit www.vemanti.com.
The statements contained in this press release contain certain forward looking statements, including statements regarding the company's expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to the company's management as of the date hereof, and actual results may vary based upon future events, both within and without the control of the company's management.