Orchid Ventures Announces Change in Relationship with Head of Product Luke Hemphill and Clarification of Previously Announced Debt Shares

VANCOUVER, BC /ACCESSWIRE/July 22, 2022/ Orchid Ventures, Inc. (the “Company” Where “Orchid“) (CSE:ORCD) (OTC:ORVRF), a vaporizer innovation company, today announced that it has removed Luke Hemphill as Chief Product Officer. Luke Hemphill remains employed by the company. but no longer holds the position of chief product officer and is no longer an officer of the Company effective July 1, 2022.

“Mr. Luke Hemphill has been with the business since its inception in 2017. Luke has been and will remain a valuable asset to the business. However, for personal reasons Luke has decided to step down as Chief Product Officer. position and take on a new role for the company. With our stronger and more competitive product portfolio, generating leads and closing deals from our growing pipeline of potential customers will be critical to our continued advancement. The new Luke’s position will therefore be focused on identifying leads, driving sales development and managing current key accounts,” said Rick Brown, President of Orchid Ventures.

Orchid refers to its press release dated February 1, 2022 in which it stated that pursuant to a debt settlement agreement with Adam Forrest dated July 14, 2021, Orchid had issued Mr. Forrest 299,928 shares of common stock. (the “Debt Shares”) in full repayment of its debt. Due to inadvertence, the Debt Shares were not issued on this date, but were issued on July 21, 2022. The Debt Shares are subject to a four-month suspension ending November 22, 2022 The transaction was payment for a cannabis license in Long Beach. , CA that Orchid subsequently sold.

ABOUT ORCHID VENTURES

Orchid Ventures is a California-based cannabis innovation company that has built a mainstream brand and a loyal consumer with its premium cannabis products and unique vape hardware delivery systems. Orchid also owns 100% of PurTec Delivery Systems, a company that produces, markets and sells clean vaporizer hardware that has been emissions tested to the world’s toughest standards set by the EU, and offers unmatched product quality and value price. Orchid management brings significant experience in branding, product development and distribution, as well as a proven track record of scaling businesses and creating sustainable revenue growth through value-generating partnerships and innovation that creates value for the company. Learn more at https://purtecdesigns.com/

ON BEHALF OF THE BOARD OF DIRECTORS – ORCHID VENTURES, INC.

Corey Mangold
Founder, CEO and President
investors@orchidventures.com

Investor Relations

Corey Mangold
1-949-357-5818
corey@orchidventures.com

CSE does not accept responsibility for the adequacy or accuracy of this release.

Safe Harbor Statement

Except for historical information contained in this release, statements in this release may be forward-looking and made pursuant to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, with respect to Orchid Ventures, Inc. and Orchid Essentials, one of its affiliates or subsidiaries (collectively , the “Company”) or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections regarding the Company’s business, based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual results may, and likely will, differ materially from what is expressed or anticipated in these forward-looking statements due to many factors, including those described above and the risks discussed from time to time in regulatory filings. Canadian securities on the Company’s securities. with sedar.com, factors that could cause actual results to differ materially from these forward-looking statements include factors such as (i) the development and protection of our trademarks and other intellectual property, (ii) the need to lift capital to meet business requirements, (iii) significant fluctuations in marketing expenses, (iv) the ability to achieve and increase significant levels of revenue, or recognize net income, from the sale of our products and services, (v) the Company’s ability to conduct its business if there are changes in laws, regulations or governmental policies related to cannabis, (vi) management’s ability to attract and retain qualified personnel for the development and commercialization of its intended products, and (vii) other information which may be detailed from time to time in the filings s by the company on sedar.com with Canadian securities regulations. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

THE SOURCE: Orchid Ventures, Inc.

See the source version on accesswire.com:
https://www.accesswire.com/709527/Orchid-Ventures-Announces-Change-in-Relationship-with-Chief-Product-Officer-Luke-Hemphill-and-Clarification-of-Shares-for-Debt-Previously- Announcement

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