Restructuring Leading to $500,000 in Annual Cost Savings Plus New Customer Contracts
The ZAM management team has continued to aggressively restructure various aspects of the business, from real estate to cultivation operations.
SEATTLE, WASHINGTON, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Pervasip Corp. (OTC: PVSP) (“Pervasip” or the “Company”), a developer of companies and technologies in high value emerging markets, together with Zen Asset Management today announced that it continues to successfully restructure various aspects of its business and launched new contract supply arrangements for a major national brand.
The ZAM management team has continued to aggressively restructure various aspects of the business, from real estate to cultivation operations. The objective is to further reduce costs and gain efficiencies across all businesses. The last 60 days have seen several such changes which are adding upwards of $500,000 in annual direct positive contribution to its bottom line.
Artizen Group, one of the independent cultivators supported by ZAM, also launched its first contractual supply arrangement, and delivered top shelf quality flower to one of the more well-known national craft cannabis brands – CloutKing.
For all cannabis connoisseurs all that needs to be said about that brand is “IYKYK” (bestselling small batch top shelf brand). Several similar arrangements will be announced soon, following through on one of the other major initiatives outlined in the January 2022 Shareholder letter.
While the cannabis market on the west coast is still challenged by its post Covid dip, massive oversupply, and egregious tax and state by state rules, brands like ArtizenTM, well-oiled distribution, top notch management teams and healthy, transparent financial structures, will be the ultimate winners in this space.
Pervasip Corporation
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. Additional information on Pervasip can be found at www.pervasip.net.
Forward-Looking Statements
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