Cannabis Stock News: Cannabis One Holdings Inc. (CSE: CBIS) Announces Additional Officer and Director Updates Associated with its Recently Announced Strategic Rebranding to INDVR Brands Inc.
Vancouver, British Columbia and Denver, Colorado - August 4, 2020 (Newsfile Corp.) (Investorideas.com Newswire) Cannabis One Holdings Inc. (CSE: CBIS) ("Cannabis One", "CBIS", or the "Company") is pleased to announce that, in furtherance of the process of its recently proposed strategic rebranding to "INDVR Brands Inc.", as well as changing its ticker symbol to "IDVR", additional updates are required regarding the officers and Board of Directors of the Company.
In furtherance to the Company's press release of July 31, 2020, Mr. Alnoor Nathoo has joined the Company's board of directors. Mr. Nathoo brings with him a wealth of public and private company experience. Mr. Nathoo is principal of a privately held hotel development company which over the past two decades has developed and sold over 10 hotels across Canada. Prior to that, Mr. Nathoo was an investment advisor with Global Securities Corporation. Mr. Nathoo currently sits on the board of Softlab9 Technologies Inc. (CSE:SOFT) and Uravan Minerals Inc. (TSXV: UVN).
The Company wishes to announce the resignation of Bernard Radochonski from the Board of Directors and Theresa Mohan from the interim Chief Financial Officer role. Mr. Radochonski remains a large shareholder and long-standing supporter of the Company. The Company wishes them the best in their future endeavors.
As previously noted, the Company anticipates announcing several new additions to the Board of Directors within a reasonable time frame.
Joshua Mann, President and Interim CEO, commented, "I am extremely pleased to welcome Mr. Nathoo to the Board of Directors as our Company transitions to that of a highly impactful and profitable brand creator and distributor within the legal U.S. cannabis industry. Over the coming weeks, we are excited to showcase what we have built across our multi-state platform as we begin to launch new and innovative product offerings. Mr. Nathoo will over the coming weeks assist the Company in building out a hyper-focused CPG management team and Board of Directors."
About Cannabis One
Cannabis One Holdings Inc. (CSE: CBIS) is a Colorado Based, Canadian listed Company hyper focused on creating and distributing unique and exciting brands for the US cannabis 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. In this news release, forward-looking statements relate, among other things, to: the completion of the corporate name change, the ability for the Company to find replacement directors and any adverse consequence thereof. 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. 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 intends to conduct its U.S. cannabis operations in a manner consistent with the applicable State laws and compliance with regulatory and licensing requirements applicable in the applicable State. However, the readers should be aware that any change in federal guidance on enforcement actions could adversely affect Cannabis One's ability to access private and public capital required in order to support continuing operations and its ability to operate in the U.S.
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.
Further Information: For investment inquiries, please contact Scott Koyich, Investor Relations at Scott@briscocapital.com or (403) 619-2200.
Related Links www.cannabisone.life
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