Cannabis Stock News: Beleave (CSE: BE) (OTCQX: BLEVF) Provides Operational and Leadership Updates
Toronto, Ontario - April 13, 2020 (Newsfile Corp.) (Investorideas.com Newswire) Beleave Inc. (CSE: BE) (OTCQX: BLEVF) ("Beleave" or the "Company"), a licensed producer of cannabis and cannabis-derived products, provides an update on internal operations and leadership changes at the Company.
- Beleave CEO Kevin Keagan announces resignation, remains on Board
- Branson Corporate Services retained to assist with CFO function
- Beleave adds Advisor to the Board
- Beleave responds to the COVID-19 pandemic
Leadership Updates and CEO Resignation
Beleave announced today that Kevin Keagan has resigned from his position as Beleave's CEO, effective immediately. Mr. Keagan will remain on the Board of Directors. Bill Panagiotakoplous, COO, has been named acting CEO, while the Board has begun a search for Mr. Keagan's successor.
"The Board is thankful for Kevin's service and leadership," said Andrew Steane, Chairman of the Board. "He has contributed significantly to where we are today and helped chart a course for Beleave's future. We understand and respect his decision to step down and wish him the very best."
CFO Position Update
Beleave has retained the services of Branson Corporate Services, a provider of outsourced corporate services, to provide interim CFO and financial services until such time as operations require otherwise. Keith Li of Branson has been appointed as Interim CFO.
Advisor to the Board
Beleave welcomes Douglas Fowles as a Special Advisor to the Board. Mr. Fowles brings a wealth of expertise on leadership, operations, and governance and will be assisting in the search for a permanent CEO. Doug will also conduct a detailed business review and provide recommendations to the Board for implementation. Doug previously held the position of President and CEO of Mascan Corporation, developer of the Mississauga City Core and builder of the Square One Shopping Centre. In 2018, he was named Mississauga Citizen of the Year. Douglas is currently the Treasurer of Legends Row, Mississauga's Walk of Fame.
Response to the COVID-19 Pandemic
In response to the COVID-19 pandemic, Beleave has followed all recommended guidance provided by provincial and federal authorities to ensure the safety and health of its employees and customers by implementing recommended policies and procedures.
The processing and packaging facility continues to be in use, however at a reduced level of activity due to physical distancing practices that are in place. Beleave has implemented a "behave like you are infected" policy, is monitoring the situation daily, and will continue to abide by government and health regulations as they are updated. The Company is meeting all delivery and customer order fulfillment expectations and is on track to continue uninterrupted.
About Beleave Inc.
Beleave is an ISO certified, Canadian cannabis company headquartered in the Greater Toronto Area that cultivates high-quality cannabis flower, oil and extracts for medical and recreational markets. Beleave is fully licenced to cultivate and sell medical and recreational cannabis and is leading the way through research partnerships with universities to develop pharma-grade extracts and derivatives.
Beleave is developing new product lines, including cannabis-infused products, oils, vape pens, and other novel cannabis delivery methods for 2020. Beleave has developed a network of medical cannabis clinics in Ontario and Quebec under the Medi-Green banner.
Investor Relations Contact:
Interim Chief Executive Officer
Phone: +1 (905) 979-4835
This news release contains "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). The use of any of the words "plan", "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and other similar words, or statements that certain events or conditions "may" or "will" occur are intended to identify forward-looking information. These statements are only predictions. Although the Company believes that the expectations and assumptions on which the forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. This information speaks only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com.
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