Veritas Farms Inc (OTCMKTS: VFRM) is a stock that I’ve been following closely for some time now, and with news issued this morning, my excitement for the company is only growing. Here’s what’s going on:
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VFRM Stock Could Fly On 2020 Growing Season Plans
In a press release issued early this morning, Veritas Farms announced that it has commenced its 2020 outdoor planting season. Importantly, the company made several significant improvements to farming practices and its genetics program that should increase the outputs of cannabinoids and terpenes while improving the biodiversity of their 140-acre facility.
In the release, VFRM said that it is working with new hemp strains this year. The goal is to increase the presence of minor cannabinoids. These include CBG, CBN, and CBDV. In fact, the comapny said that it is expecting for its changes to increase these minor cannabinoids by around 20%.
The company went on to explained that these minor cannabinoids will be used in formulations across its product portfolio as it is believed that they will increase efficacy. Furthermore, the company will be using these for research and the development of new products.
The company also said that it has planted two acres of strains that have proprietary genetics. These are designed to further increase future harvests’ cannabinoid and terpene yields.
Moreover, the company said that it has started planting rotational crops of peppers, tomatoes, squash, beans, carrots and radishes. These rotational crops help to keep the soil healthy and attract pollinator species that increase biodeversity. Ultimately, this leads to improved integrated pest management and molsters natural methods of cultivation rather than a reliance on chemicals and fertillizers.
In a statement, Spencer Fuller, VP of Agriculture at VFRM, had the following to offer:
We are excited about the new cultivars that we are testing this year. Last year we improved our labor efficiencies and this year we are improving our cannabinoid ratios and bringing some really unique minor cannabinoids to the forefront in our plants.
This News Is Huge
At the end of the day, the news issued by Veritas Farms is huge for the company and its investors for multiple reasons. First and foremost, the company has made key changes that are expected to result in higher yields. With higher yields come higher revenues, sales, and margins, making these changes big winners.
Moreover, with propreitary strains and rotational crops, the company is slowly working to break away from the need of pesticides and other chemical agents when growing their crops. This not only reduces costs, but improves quality that’s likely to be noticed by the end consumer.
All in all, with the start of the 2020 growing season, VFRM is a stock that’s well worth watching!
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