- Mr. Paul Rosen named Interim CEO
- Mr. Eugene Ruiz named President
- New leadership to focus on accelerating growth and profitability
VANCOUVER, BC, June 15, 2020 /PRNewswire/ - 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE: TGIF) (OTCQX: TGIFF), a vertically-integrated cannabis consumer packaged goods company, announces the appointments of Mr. Paul Rosen as Interim CEO and Mr. Eugene Ruiz as President, effective immediately, to guide the strategic direction of the Company into a new phase of development.
Mr. Paul Rosen is a successful entrepreneur and a pioneer in the global cannabis industry, having founded, led and invested in multiple companies over the past decade. He co-founded PharmaCan Capital Corp. (NASDAQ:CRON; TSX:CRON) and served as its first President and CEO. He has held board positions with a number of publicly-traded cannabis companies and currently serves as the Executive Chairman of Global Go, a consultancy focused on the global regulated cannabis industry. Mr. Rosen is also a significant shareholder in 1933 Industries, as a result of his private placement investment in the Company in March 2019.
Mr. Eugene Ruiz is a seasoned executive with strong leadership skills and broad–based operational expertise. He has held numerous executive positions - including CEO, CFO and COO - across a number of industries in the United States. Mr. Ruiz has led the turnaround of several companies into profitable enterprises. Most recently, Mr. Ruiz served as CFO and Executive Vice President of the largest privately-owned, multi-state retail nursery operation in the western US, where he led the company from break-even to profitability, while quadrupling revenue.
"The appointments of these two accomplished business leaders are reflective of the Company's accelerated focus on execution. Paul's exceptional background in the cannabis industry in both the US and Canada is unmatched. Eugene has extensive executive leadership experience and a proven track record of leading companies to profitability," said Mr. Terry Taouss, Chairman of the Board. "We are pleased to welcome Paul and Eugene as we advance towards our goal of becoming a leading player in the cannabis space, with best-in-class infrastructure and highest-quality brands that resonate with our target market."
As part of the leadership changes, Mr. Chris Rebentisch has departed the Company and will no longer serve as CEO, and Ms. Ester Vigil will no longer serve as President.
About 1933 Industries Inc.
1933 Industries is a vertically-integrated, growth-orientated company, focusing on the cultivation and manufacturing of cannabis consumer branded goods in a wide range of product formats. Operating through two subsidiaries, the Company controls all aspects of the value chain with cultivation, extraction, processing, and manufacturing assets supporting its diversified portfolio of cannabis brands and licensing partners.
Our award-winning proprietary portfolio of brands include: AMA flower and AMA concentrates as well as CBD-infused Canna Hemp™, Canna Hemp X™, and Canna Fused™ products. Partners under licensing agreements include: Birdhouse Skateboards™, Blonde™ Cannabis, Bloom™, Denver Dab Co., Grizzly Griptape, OG DNA Genetics, The Pantry Company, PLUGplay, and The Original Jack Herer®.
The Company owns 91% of Alternative Medicine Association, LC (AMA), and 100% of Infused MFG LLC. 1933 Industries continues to focus its operations in the licensed US cannabis industry as a multi-state operator in Nevada, Colorado and California. The Company operates in California via a management services agreement with Green Spectrum Trading Inc., a medicinal and recreational cannabis business licensee in the state.
About Canna Hemp™
Canna Hemp™ CBD Relief Cream was named "Best Topical" by Leafy's Best in State: The Top State Specific Products and Experiences of 2018.
About Canna HempX™
Canna Hemp X™ was named "Best Topicals for Pain" by Herb's Guide to the Best Cannabis Products on the Planet. Canna Hemp X™ is a CBD sports recovery cream for athletes, bridging the gap between recovery and top performance.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak 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., as well as the business interruption risk posed by the Covid-19 pandemic. 1933 Industries undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE 1933 Industries Inc.