DENVER, CO / ACCESSWIRE / September 30, 2019 / International Cannabrands Inc. (CSE:JUJU) (OTC:GEATF) (the “Company“) announced the resignations of Antonio Ruggeri and Bryce Berryessa from the board of directors for International Cannabrands, and the resignation of Travis Belcher as both a director and as head of the Company’s JuJu Royal Brand. The Company would like to thank these three directors for their service and for clearing the way for new strategic directors to join the board.
Mr. Mark Scott was appointed to the board of directors to fill one of the vacancies. Mr. Scott is the Chief Financial Officer of the Company. Mr. Scott was a consultant to the Company since December 1, 2016 and was appointed Chief Financial Officer on June 1, 2017, prior to the Company’s reverse take-over and listing on the Canadian Securities Exchange.
Mr. Scott has spent over 40 years in the financial and accounting services sector, primarily as a Chief Financial Officer for microcap public and private companies. Mr. Scott is an experienced Director and Audit Committee Chairman for public companies. Mr. Scott has significant financial, capital market and relations experience and is a certified public accountant and received a Bachelor of Arts in Accounting from the University of Washington.
Steve Gormley, CEO of International Cannabrands said, “I want to personally thank Tony, Travis and Bryce for their service on the board. Tony and Travis were legacy directors. The board is currently reviewing a short list of potential strategic, value added directors to join the board who will strengthen the Company’s new initiatives in CBD and elsewhere. We are excited about the new direction the Company is taking.” Steve Gormley also said, “Mark Scott is one of the best CFOs I’ve ever had the privilege to work with. Mark brings an expertise in financing and accounting to the board and will help the Company become an earnings driven enterprise.”
In addition, in light of the Company’s current shift and re-focus to CBD, the Company wishes to announce that it has decided not to move forward with the Albert Einstone’s investment at this time (see press release dated August 8, 2019). All resources will be streamlined in the short term to accommodate the new focus of the Company.
International Cannabrands Contact:
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Disclaimer concerning Forward-looking Statements
Certain statements included herein constitute “forward-looking statements” relating to the timing and execution of the Company’s revised strategy, within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward-looking statements. Additional risks and uncertainties regarding the Company are described in its publicly-available disclosure documents filed by the Company on SEDAR (www.sedar.com). The forward-looking statements contained in this news release represent the Company’s expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. Except as required by law, the Company does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.
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