Virdi, LLC Announces the Close of $7.5 Million Equity Financing
TEMPE, Ariz., February 14, 2024 (Newswire.com) - Virdi, LLC (“Virdi”) is pleased to announce the closing of a $7.5 million equity purchase by Beacon Hill Brands (USA) Inc. (“BHB”), which positions BHB as a significant equity stakeholder in Virdi. As part of the transaction, BHB will have the right to appoint two of the five members to Virdi’s Board.
Prior to the agreement, Virdi held limited exclusive rights to the Vessl® technology in the cannabinoid space for the U.S. and Canada. Pursuant to the transaction, Virdi purchased expanded global rights to cannabinoids and extended the field of use to include psilocybin applications where legal. The transaction positions Virdi to exploit the Vessl® technology worldwide across multiple revenue streams including both owned-brands and third-party use.
Walter D. Apodaca Jr., CEO of Virdi, LLC, stated, “We are thrilled to expand our relationship with Beacon Hill Brands (USA). The closing of this transaction comes at a very exciting time as Vessl® is being adopted by some of the largest CPG companies in the world. The expanded rights will position Virdi to do the same with major players in cannabis.”
About Virdi, LLC
Virdi, LLC. is a privately-owned company based in Tempe, Arizona, and is the exclusive worldwide supplier of the patented Vessl® closure (www.vesslinc.com) for consumable liquid cannabis beverage and psilocybin applications where legal. The Vessl® closure is a dosing and dispensing device that allows the delivery of fresh ingredients without the need for artificial preservatives. Virdi sells the patented Vessl® closures, trademarked packaging materials, proprietary formulas, beverage manufacturing equipment, packaging machines, and clean room infrastructure to distributors that produce and distribute trademarked and private or white label brands for cannabis and other beverage applications.
About Beacon Hill Brands (USA) Inc.
Beacon Hill Brands (USA) Inc. is a privately owned U.S. corporation based in Delaware. Beacon Hill Brands (USA) Inc. is comprised of principals who have long and successful entrepreneurial histories.
About Vessl, Inc.
Vessl, Inc. (www.vesslinc.com) is a privately-owned company headquartered in Tempe, Arizona that is dedicated to breaking the disposable bottle paradigm and redefining eCommerce. Vessl owns the worldwide, exclusive rights to the patented Vessl® technology, a dosing and delivery device that instantly mixes concentrated ingredients at the point of use without a change in consumer behavior. The device stores concentrated ingredients in an oxygen-depleted, UV-protected, and pressurized environment to maintain freshness and significantly improve shelf life without the need for artificial preservatives.
Vessl offers its patented technology for a multitude of applications around the world, including its own brands, and third-party applications and brands. Applications include alcoholic, non-alcoholic, and functional beverages, pharmaceuticals, cosmetics, household cleaning products, and more. Contact Daniel Montoya, Vessl’s COO, at (949) 678-7338 or daniel@vesslinc.com, for more information.
Source: Virdi, LLC