DENVER, Dec. 4, 2018 /PRNewswire/ -- Medicine Man Technologies Inc. (OTCQX: MDCL) ("Medicine Man Technologies" or "Company"), one of the United States' leading cannabis branding and consulting companies, today announced Co-founder Andy Williams has been named Interim CEO of Medicine Man Technologies. While assuming the role as Interim CEO, Mr. Williams has stepped down as Chairperson of the Board. Paul Dickman has been appointed by the Company's Board of Directors as Chairperson of the Board and Secretary for Medicine Man Technologies. Mr. Williams will serve as Interim CEO until a permanent CEO is named.
Paul Dickman, Chairperson of the Board for Medicine Man Technologies commented, "As a Co-founder of Medicine Man Technologies, Andy has demonstrated a proven ability to lead this organization and drive shareholder value. His insight and knowledge of the cannabis industry has been extremely valuable to the Board and the Company and we are confident he is the right person for this important role at this time. We are grateful he has accepted this commitment and look forward to his success as Interim CEO."
"Brett Roper was an influencer in the cannabis industry and helped grow Medicine Man Technologies into an industry leader. He helped build our Company to where it is today and we are forever grateful for his service and the leadership he provided," commented Andy Williams. "As Interim CEO, I look forward to continue working closely with the Board as well as our team at Medicine Man Technologies to serve our expanding client base and execute on our growth strategy as we prepare for our next phase."
Andy Williams is among America's most pioneering thought leaders and entrepreneurs in the legal cannabis space. As co-founder and CEO of celebrated retail cannabis chain Medicine Man, Mr. Williams has already fulfilled his vision of becoming "the Costco of marijuana." As co-founder and former chairperson of the board of industry-leading consultancy Medicine Man Technologies, Mr. Williams has expanded his influence exponentially—helping entrepreneurs in other states via his extensive cultivation expertise and unparalleled business acumen. Mr. Williams is also a founding partner in phytopharmaceutical company MedPharm and is investing heavily into the future of pharmaceutical-grade cannabis research.
With years of experience in the world's first regulated market, Mr. Williams is a leading expert on the cannabis industry featured in The New York Times, Rolling Stone, CNN, The Wall Street Journal, BBC and the MSNBC docu-series "Pot Barons," which focused on Mr. Williams as one of the show's central characters.
Mr. Williams continues to elevate his politically active leadership in the ever-expanding marijuana industry, working daily to protect and grow the cannabis industry as a board member with the Cannabis Trade Federation, which works federally on tax reform and other industry-specific issues, and Colorado Leads, a pro-growth organization focusing its efforts locally.
Paul Dickman is the Founder & Principal of Breakwater MB, a boutique merchant bank focused on providing the expertise and funding needed for cannabis-focused organizations to transition into the public market. Mr. Dickman currently serves as the CFO of a publicly-traded company with operations in Los Angeles, New York, and Shanghai. His areas of expertise include corporate finance, capital markets, and corporate governance.
Prior to founding Breakwater MB, Mr. Dickman founded Breakwater Corporate Finance, a professional services agency offering outsourced CFO and board governance services to private and micro-cap public companies. Through Breakwater Corporate Finance, Mr. Dickman has helped organizations raise multiple rounds of equity and debt capital and has facilitated several public offerings while providing profitable liquidly events for investors.
Mr. Dickman was the founding CFO of Medicine Man Technologies and assisted the Company through the process of becoming a publicly traded entity. Once public, Mr. Dickman's replacement was hired and he moved to serve on the board of directors.
Mr. Dickman has sat on the Board of Directors for Rockies Venture Club, Medicine Man Technologies, and Chineseinvestors.com, Inc. He possesses a Bachelor's Degree in Finance and Accounting, is a licensed CPA, and is a Fellow of the National Association of Corporate Directors (NACD).
About Medicine Man Technologies, Inc.
Established in March 2014, the Company secured its first client/licensee in April 2014. To date, the Company has provided guidance for several clients that have successfully secured licenses to operate cannabis businesses within their state. The Company currently has or has had active clients in California, Iowa, Oregon, Colorado, Nevada, Illinois, Michigan, Arkansas, Pennsylvania, Florida, Ohio, Maryland, New York, Oklahoma, Massachusetts, Puerto Rico, Canada, Australia, Germany, and South Africa. We continue to focus on working with clients to 1) utilize its experience, technology, and training to help secure a license in states with newly emerging regulations, 2) deploy the Company's highly effective variable capacity constant harvest cultivation practices through its deployment of Cultivation MAX, and eliminate the liability of single grower dependence, 3) avoid the costly mistakes generally made in start-up, 4) stay engaged with an ever expanding team of licensees and partners, all focused on quality and safety that will "share" the ever-improving experience and knowledge of the network, and 5) continuing the expansion of our Brands Warehouse concept through entry into industry based cooperative agreements and pursuing other acquisitions as they prove suitable to our overall business development strategy.
Safe Harbor Statement
This press release may contain forward-looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the Securities and Exchange Commission. Among other matters, the Medicine Man Technologies may not be able to sustain growth or achieve profitability based on many factors including, but not limited to, general stock market conditions. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC filings. We have incurred and will continue to incur significant expenses in the expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long-term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations where we will be providing services, the impact of which cannot be predicted at this time.
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SOURCE Medicine Man Technologies, Inc.