NEWPORT BEACH, CA--(Marketwired - November 02, 2016) - Vemanti Group, Inc. (OTC PINK: VMNT) a diversified holding corporation, announced today that its wholly-owned subsidiary, MedicatedOne, has started shipping cannabis-infused edible products.
The first shipment was delivered in mid-October to New Amsterdam Naturals (http://www.nanwla.com), one of the leading licensed dispensaries in the Los Angeles area. The company has also conducted a successful on-premises product presentation introducing its medical cannabis-infused microwave popcorn to the patients and members of the New Amsterdam Naturals Collective.
Mr. Tan Tran, CEO of Vemanti Group, commented, "Our subsidiary, MedicatedOne, has been innovating in the field of the medical cannabis-infused edibles for some time now. We are positioning it as a leading product design bureau, eyeing vegan, gluten-free, and other variations of edibles not offered by the competition. Our partnership with New Amsterdam Naturals marks a step in the right direction. Not only the location of this dispensary and the size of their collective may ensure better exposure of our current and future products, but their long experience in the industry and established connections with dispensaries and other industry groups across California could serve as a springboard to our future product licensing and branding plans. We are looking forward to soon introducing new additions to our line of edibles and working to further our cooperation with New Amsterdam Naturals."
"We're planning to build our brand aggressively and create a steady revenue stream going forward with a strong belief that Prop 64 will pass through a majority vote in the coming days for California to become a recreational State, giving us access to a marketplace with the publicity and support that we believe could surpass Colorado," further stated Mr. 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/#19717fd75551
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.