SURREY, BC, Dec. 12, 2013 /PRNewswire/ - CNSX: AAF / Frankfurt: ANI / ARRIS HOLDINGS INC. ("Arris" or the "Company") is pleased to announce that Mr. Charles Larsen has joined its board of directors, replacing Mr. Jack Bal who has agreed to step down. Mr. Larsen will also be replacing Ms. Sandy Janda as President and Chief Executive Officer. Ms. Janda will remain on the board as an independent director.
Arris is launching a new subsidiary to focus on developing projects in the Hemp industry. Mr. Larsen will head this new subsidiary as well as Arris Holdings Inc. Mr. Larsen brings to Arris a great deal of experience and expertise in the Hemp industry. The appointment of Mr. Larsen to the board marks the beginning of a new era for Arris. The Company will immediately begin shifting its business model to focus on the emerging global hemp industry. This industry is poised for rapid growth in 2014 and beyond. The current global hemp market is currently estimated to be only $500-600 million with the potential however to grow tenfold in the next 3-5 years.
Arris will hold its Annual General Meeting on February 7, 2014 at which time shareholders will be requested to vote on a proposed name change to Global Hemp Group, Inc. and on a 5 for 1 forward stock split.
"I am looking forward to working with the Arris team which will soon be expanded with the addition of several business, political, and scientific experts as the Company moves forward into this rapidly emerging industry. Hemp has broad applications across all sectors and industries and is one of the most underutilized commodities in the world. Global Hemp Group, Inc. will create vertical integration all along the supply chain, helping this global industry expand at a rapid pace, with strength and stability, while creating jobs, generating taxable revenue and improving the environment.", said Mr. Larsen.
Mr. Larsen has more than 30 years of experience working in government, public, private and start-up companies as an executive manager. He has experience in high volume securities trading; corporate and public debt, equities, options and futures, as well as being an experienced portfolio manager, securities trader and C level executive. Mr. Larsen has been involved in the highest levels of strategic planning, mergers & acquisitions, financial and operational restructuring, public and private corporate finance, governance and compliance. He has proven track record of success at every level of business management. Mr. Larsen is Chairman of the Advisory Board for the Hemp Industrial Innovation Institute (www.Hemp-iii.org) and he is an advisor to the North American Industrial Hemp Council (www.NAIHC.org).
On behalf of the board
This press release, required by applicable Canadian laws, is not for distribution to U.S. news services or for dissemination in the United States, and does not constitute an offer of the securities described herein. These securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or unless an exemption from such registration is applicable.
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. 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.
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SOURCE Arris Holdings Inc.