VANCOUVER and DENVER, July 26, 2019 /CNW/ – Cannabis One Holdings Inc. (CSE:CBIS) (“Cannabis One”, “CBIS” or the “Company”), an emerging premier “House of Brands” in North America, is pleased to announce that the board of directors of the Company (the “Board”) has appointed Mr. Joshua Mann as President of the Company and Mr. Christopher Fenn as Chairman of the Board.
Mr. Mann is Co-Founder and General Partner of Wildhorse Capital Partners Inc. (“Wildhorse”), a Calgary-based merchant bank and capital markets advisory firm. Prior to co-founding Wildhorse, Mr. Mann served as Vice President, Business Development for what is now Pipestone Energy Corp., a Canadian oil and gas company, where he was integral in raising over $160 million in equity financing. Mr. Mann began his capital markets career in investment banking with Stifel Nicolaus Weisel, where he advised companies on equity, debt, and M&A mandates, assisting corporate issuers in raising more than $3 billion in capital. Mr. Mann also sits on the Advisory Board of Rocky Mountain Extracts Corp., a Canadian cannabinoid extraction company based in Alberta.
Mr. Fenn is also Co-Founder and General Partner of Wildhorse. Prior to co-founding Wildhorse, Mr. Fenn served as Senior Vice President, Business Development with Gabriella’s Kitchen, a publicly listed, pure-play cannabis wellness company with operations throughout the United States and Canada, and as Managing Director with Oliver Capital Partners Inc., a North American merchant bank. Mr. Fenn also sits on a number of private company boards.
Mr. Jeffery A. Mascio, CEO of the Company stated: “We are very excited to have Josh and Chris, who have been working closely with the Company for over two years now and have sat on our board of directors since we went public earlier this year, take on much more active roles with the Company. We believe that their increased involvement will help take Cannabis One to the next level through creating a more structured capital markets and M&A strategy. Josh brings a wealth of capital markets knowledge and experience and will be instrumental in assisting the Company with its future financing needs, while Chris brings his business acumen and insight to help the Company operate at a higher and more efficient level. I look forward to working closely with both Josh and Chris along with the rest of the members of the Cannabis One team to continue to grow the Company organically and through strategic acquisitions.”
About Cannabis One
IF WE BRAND IT, THEY WILL COME – Cannabis One Holdings Inc. (CSE:CBIS) (“Cannabis One”, “CBIS” or the “Company”) is focused on aggregating and optimizing popular cannabis brands throughout North America. With its unique, franchise-ready retail brand, The JointTM, and through targeted acquisition and partnership opportunities, Cannabis One intends to become the premier, globally-recognized, “House of Brands”, holding a client portfolio of award-winning products with an extensive market footprint. Through the Company’s The JointTM retail concept, Cannabis One intends to leverage the consumer and brand data harvested from its retail locations to bring data-driven analytics to an emerging, branded industry. For consumers, Cannabis One desires to become the definitive source for unparalleled product selection and renowned service in an otherwise fragmented market.
Disclaimer and Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “anticipate”, “could”, “intend”, “expect”, “believe”, “will”, “projected”, “potential”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward looking statements include, but are not limited to, the appointment of a new director of the Company. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Cannabis is legal in certain States in the United States (“U.S.”), however cannabis remains illegal under U.S. federal laws. Cannabis One Holdings Inc. (CSE:CBIS) (“Cannabis One”, “CBIS” or the “Company”) intends to conduct its U.S. cannabis operations in a manner consistent with the applicable State laws and in compliance with regulatory and licensing requirements applicable in the applicable State. Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale and possession of cannabis under the Cannabis Act (Federal), readers are cautioned that in the U.S., cannabis is largely regulated at the State level. To the knowledge of Cannabis One, there are to date a total of 33 states, plus the District of Columbia, that have legalized cannabis in some form. Notwithstanding the permissive regulatory environment of medical cannabis at the State level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. Federal law. Strict compliance with State laws with respect to cannabis will neither absolve Cannabis One of liability under the U.S. Federal law, nor will it provide a defense to any Federal proceeding, which may be brought against Cannabis One. Any such proceedings brought against Cannabis One may materially adversely affect its operations and financial performance in the U.S. market.
SOURCE Cannabis One Holdings Inc.