Veritas Farms seeking up to $6 million in stock offering

Florida CBD maker Veritas Farms is looking to raise up to $6 million to boost marketing and to expand a production and distribution facility in Colorado.

The Fort Lauderdale company announced Wednesday that it will offer 8 million shares at 50 cents each to raise $4 million. The action gives the company the option to expand the offering to 12 million shares to raise $6 million.

The company, which grows hemp in Pueblo, Colorado, says it will use the money for:
  • Marketing and sales efforts.
  • Building out a new manufacturing and distribution facility near the Denver airport.
  • Developing new strains of hemp and additional products.
  • Software upgrades and other corporate purposes.

Veritas makes CBD products sold online and in FDM channels. The company trades on over-the-counter markets as VFRM.