Virdi announced the closing of a $7.5 million equity purchase by Beacon Hill Brands (USA), 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.
Virdi is a privately-owned company based in Tempe, Arizona, and is the exclusive worldwide supplier of the patented Vessl closure 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
