Veritas Farms, Inc. acquired Asystem, Inc.for $2.5 million.
August 27, 2023
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Veritas Farms, Inc. (OTCPK:VFRM) acquired Asystem, Inc. on August 28, 2023. ASYSTEM Labs, ASYSTEM?s product development studio, will be part of the acquisition. Tom Vickers, the current Chairman of the Board of Veritas Farms, will continue his role as Chairman of the Board, and Chief Executive Officer. Henry Simonds will continue his role with the entity as a member of the Board of Directors and as a strategic consultant. Oli Walsh, Founder of ASYSTEM will continue to work alongside both teams as a strategic advisor.
Veritas Farms, Inc. (OTCPK:VFRM) completed the acquisition of Asystem, Inc. for $2.5 million on August 28, 2023.
Veritas Farms, Inc. (Veritas Farms) is an agribusiness that is focused on growing, producing, marketing, and distributing quality, whole plant, full spectrum hemp oils and extracts containing naturally occurring phytocannabinoids (collectively, CBD). Veritas Farms owns and operates an approximately 140 acres farm in Pueblo, Colorado, capable of producing over 200,000 proprietary full spectrum hemp plants, which can potentially yield a minimum annual harvest of 250,000 to 300,000 pounds of outdoor-grown industrial hemp. Veritas Farm's products include capsules, gummies, tinctures, lotions, salves, creams, balm sticks, lip balms, and pet chews. It also operates approximately 15,000 square feet of climate-controlled greenhouses to produce a consistent supply of year-round indoor-cultivated hemp. In addition, there is a 10,000 square-foot onsite facility used for processing raw hemp, oil extraction, formulation laboratories, and quality/purity testing.
VERITAS FARMS, INC. 
