Pervasip Releases Shareholder Letter
Seattle, Washington--(Newsfile Corp. - January 4, 2022) - Pervasip Corp. (OTC Pink: PVSP) ("Pervasip" and the "Company") today announced that its President and Chief Executive Officer, German Burtscher, issued the following letter to Pervasip's shareholders:
We ended 2021 with numerous accomplishments, healthy financials, an amazing lineup of new opportunities, various strategic initiatives, and a companywide restructuring that we concluded over the past 3 months, after completing our acquisitions of Artizen Corporation ("Artizen") and its subsidiary, Zen Asset Management LLC ("ZAM") in September 2021.
We have an amazing foundation to grow from in 2022, including close to $17 million in annual revenues, positive EBIDTA, one of the most established cannabis management companies in Washington state, and the intellectual property behind one of the top 10 national cannabis brands.
Our plan for 2022 is to rapidly expand ZAM's position as a platform operator in the Western United States and broaden the market reach for the Artizen brand, including by increasing yields, adding new offerings, and establishing the Artizen brand in new markets. We already have significant progress on each front that we are excited to share over the coming months.
With our investment in KRTL Biotech we are also starting to review the medicinal fungi market for unique product and other growth opportunities. In addition, with the recent approval obtained by the Ministry of Food and Drug Safety (MFDS), formerly known as the Korea Food & Drug Administration (KFDA), KRTL is commencing research that will better assist the medical and psychological community in the treatment of specific disorders, which include pain resulting from cancer treatment, autism, PTSD, ADHD, depression, addiction, improvement in concentration and other psychological illnesses.
This is an exciting time for us and I urge you to be on the lookout for a stream of announcements over the next 6 months as we race into 2022. We look forward to our next communication. Until then, thank you for your continued interest and support.
President and Chief Executive Officer
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.
This news release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as may, would, could, will, likely, except, anticipate, believe, intend, plan, forecast, project, estimate, outlook, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the objectives and business plans of the Company; ability to realize benefits from its recent corporate appointments; ability to retain its key personnel; the intention to grow the Company's business and operations; the competitive conditions of the industries in which the Company operates; and laws and any amendments thereto applicable to the Company. Forward-looking information is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; and the Company's ability to secure financing on reasonable terms. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company's periodic disclosure statements. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
For further information, please contact:
T: 855-464-2535, Extension 1
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109013