VERUS INTERNATIONAL ANNOUNCES $4 MILLION RICE SUPPLY AGREEMENT

Gaithersburg, MD, March 05, 2019 (GLOBE NEWSWIRE) -- Verus International, Inc. (“Verus” or the “Company”) is pleased to announce that it has received an order from a distributor to deliver approximately $4 million worth of rice annually for the Dubai market. Verus will source three to four varieties of rice from multiple producers in India to meet this initial demand. Under the terms of the agreement, Verus will sell rice under both the supplier’s brand name and a Verus brand.

Financing should be in place within a week and the first containers are expected to begin shipping soon at a rate of approximately ten containers per month. These products will consist of basmati and other rice varieties in primarily 10kg package sizes for the retail and commercial markets.

“This is exactly the kind of contract that we believe we can replicate many times over,” explained Verus CEO Anshu Bhatnagar. “As we announce these orders for branded staples found in just about every home and restaurant in our current markets, investors should remember that these are starter quantities. We expect these orders to grow as they season, with expansion coming from both market penetration and extension into new geographies.”

The rice agreement fits into Verus’s strategic plan to gradually layer on product lines across many retail and wholesale food categories, with an early emphasis on scalable staples.

“In our core markets, branded products and fresh foods get the best margins,” explained CEO Bhatnagar. “So, those are areas where we intend to initially focus. When you can establish a footprint with a branded version of a leading staple, such as rice or our previously announced honey, you get the added bonus that the opportunity is essentially open-ended. Rice is a multi-billion dollar import in the places where we already operate, so it was essential that we establish a presence in this key category.”

Interested investors are reminded to watch for product updates on the official Twitter feed @Verus_Foods.

About Verus International, Inc.

Verus International operates an international food subsidiary (Verus Foods) that sells branded consumer products to customers worldwide. The Company trades on the OTC market (OTC:VRUS). Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com.

Safe Harbor Statement
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Contacts
Investor Contact:
MKR Group Inc.
Todd Kehrli or Mark Forney
vrus@mkr-group.com