Pervasip today announced announced that wholesale flower sales have grown 330% year over year to $3.9 million
“We are turning this opportunity into a wholesale market, managed by my team, where buyers and sellers can easily exchange inventory information and execute purchases” says Tim Foia, head of the wholesale division
SEATTLE, WASHINGTON, JANUARY 18, 2022
Pervasip Corp. (OTCPK: PVSP) (“Pervasip” or the “Company”), a developer of companies and technologies in high value emerging markets, and its subsidiaries, today announced that wholesale flower sales have grown 330% year over year to $3.9 million
As German Burtscher, Pervasip’s CEO had indicated in his shareholder letter, several exciting accomplishments and initiatives will be shared over the next few months and wholesale growth is one of the keystone initiatives that has been successfully executed during Q3 and Q4 of 2021. On the heals of announcing a $2.5 million non-dilutive investment to build out additional state of the art cultivation, the wholesale division will be a material go to market channel for overstock flower as well as certain contract grow product.
The newly re-organized division is poised for continuing growth in 2022 and has become an important go to market channel for the various independent cultivation partners the Pervasip group of companies is servicing. “We have worked with hundreds of Washington growers and processors since 2014. Our network of industry partners and competitors has been ready for a more organized effort in this arena. We are turning this opportunity into a wholesale market, managed by my team, where buyers and sellers can easily exchange inventory information and execute purchases” says Tim Foia, head of the wholesale division.
Pervasip estimates divisional growth to reach $15 million in annualized revenues by early 2023 with 2022 year over year growth to double. “As indicated in our shareholder letter at the beginning of this month, Pervasip is executing on various strategic initiatives, which will lead to material increases in harvest yields, flower quality and provide an opportunity to diversify our revenues. Wholesale will be key to our long-term success” says German Burtscher, Pervasip’s CEO.
Pervasip Corporation Pervasip Corp., a developer of companies and technologies in high value emerging markets, owns Artizen Corporation and its subsidiary, Zen Asset Management LLC, a diversified asset management company founded to acquire, develop, and support companies and technologies in the cannabis industry. ZAM’s existing clients operate four licensed cannabis cultivation and one processing facility in Washington. Most of the biomass produced by these independent cultivators has been sold historically under the Artizen™ brand, including all-time top selling products in flower in Washington state. Additional information on Artizen-branded products is available online at www.artizencannabis.com. Pervasip additionally owns 5% of KRTL Biotech, Inc., a developer of biotechnologies with a focus on pharmaceutical applications of cannabinol and psilocybin. Additional information on KRTL is available online at www.krtlbiotech.com. Additional information on Pervasip can be found at www.pervasip.net.
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