SAN DIEGO, May 3, 2019 /PRNewswire/ -- (OTC Pink: TREP) A leading consulting and service provider to the Professional Employer Organization and Consumer Goods industries, Trucept Inc. today announced the expansion of its Strategic Marketing and Technology products and services by appointing Fawad Nisar as Executive Vice President for its new wholly owned subsidiary, Trucept Marketing Inc.
Nisar spent 13 years at Trellist Marketing & Technology, providing business consulting, brand and marketing strategy, and technology expertise to Fortune 500 enterprise clients in healthcare, pharmaceuticals, retail, manufacturing, and financial industries. With a Bachelor's and Master's degree in Chemical Engineering from Manhattan College, Nisar also brings valuable expertise within the Cannabis industry, particularly in product development, sales & marketing of Cannabidiol (CBD).
Trucept Inc. will assist marketing partners with a CBD line to wholesalers and distributors, with a processing and production capacity of 52kg of pure CBD oil per week. Experts anticipate the CBD market to significantly increase with some estimating hemp-derived CBD alone to be $22 billion by 2022. Unlike THC, CBD is the non-psychoactive ingredient of the cannabis plant, and has been shown to offer medical benefits for multiple chronic conditions along with being a natural remedy for minor ailments. The passing of the 2018 Farm Bill removes hemp and its extracts as a controlled substance, paving a path for hemp-derived CBD to reach consumers nationwide, as seen by recent announcements by major retailers to carry CBD products in their stores.
"We are excited to have Fawad join the Trucept leadership team, he will be a valuable asset to help grow our existing business segments and quickly penetrate new markets. We expect to have a very successful 2019," CEO Norman Tipton said.
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.
SOURCE Trucept Inc.