Vet Online Supply, Inc. (OTC Pink: VTNL) is engaged as a U.S.-based online reseller and distributor of proprietary veterinary supplies. Shares of the vet supplier are jumping 24%, through early trading on Monday, February 26, 2018. Over the past month, Vet Online Supply, Inc. has seen average daily volume of 57.82 million shares. However, volume of 48.92 million shares or dollar volume $39,136, has already exchanged hands on the day.
Shares of Vet Online Supply, Inc. are climbing today, after the company announced a surprise $3 million sales contract on the West Coast. The new contract is with GCS Corporation, which will help launch Vet Online Supply, Inc. launch its pet CBD products across 5,000 dispensaries. The agreement is set to commence in March 2018 and will initially cover Southern California and Seattle, Washington. Here is the full press release detailing of the $3 million sales contract:
Vet Online Supply, Inc. Press Release:
KELSEYVILLE, CA , Feb. 26, 2018 (GLOBE NEWSWIRE) — Vet Online Supply, Inc. (OTC PINK:VTNL) (the Company), announces today its new contract with GCS Corporation to launch the company’s Pet CBD Products in over 5,000 marijuana dispensaries starting along the west coast from Southern California to Seattle Washington.
Dan Rushford, CEO, stated, “I recently announced our purchase orders for January and February 2018 of $529,790 and $245,000 with a major retailer which will allow our Company to start the process to purchase-back shares of the company in order to focus on anti-dilution measures, stock price increases and minimizing the number of shareholders as we target the New York Stock Exchange listing procedures, along with our new program designed to provide prorated dividends to our shareholders.
“We’ve been negotiating with a cannabis retail company to place our CBD Pet Products on the shelves in marijuana dispensaries. They have agreed to start placing product in March-2018. We are expecting $3M in purchase orders for this sector of our market. We feel that a large majority of customers utilizing the marijuana dispensaries are also pet owners. Our CBD Pet products are beneficial and unique.”
Dan Rushford, CEO, further stated, “We anticipate high consumer traffic with a more keen interest in purchasing our products throughout the 20,000+ dispensaries in the USA. Statistics indicate the estimated number of cannabis businesses in the United States as of 2017 are between 20,000 and 28,000 cannabis businesses. In many cases, reality has outperformed expectation. After looking at the huge marijuana product sales in Colorado and Washington, cannabis industry analysts GreenWave Advisors raised their forecast for revenues for the industry in 2015. They now expect cannabis revenue to reach about $25 billion by 2020. They also expect the CBD market to grow to $3 billion by 2020. Our CBD Pet Products are high-quality. “
ABOUT VET ONLINE SUPPLY:
Vet Online Supply Inc. is a small US based online retail reseller of proprietary veterinary products. The goal of “Vet Online Supply” is to provide the $38B industry with value priced, superior quality products.
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company’s progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management’s opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company’s operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company’s periodic filings with the U.S. Securities and Exchange Commission.