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World Organics appoints three to advisory board

2014-09-30 17:34 ET - News Release

Mr. Nicholas D'Alessandro reports

WORLD ORGANICS PROVIDES ITS THIRTY-FIFTH DEFAULT STATUS REPORT AND ANNOUNCES THREE NEW APPOINTMENTS TO ITS "GREEN AND GOLD ADVISORY GROUP"

World Organics Inc. is providing its 35th default status report under National Policy 12-203, cease trade orders for continuous disclosure defaults. On April 16, 2013, the company announced that it would not be able to file its audited annual financial statements, the annual management's discussion and analysis, and the related chief executive officer and chief financial officer certifications for the fiscal year ended Dec. 31, 2012, within the prescribed filing deadline of April 30, 2013. Subsequent to that date, the company announced on May 15, 2013, Aug. 21, 2013, and Nov. 14, 2013, that the filing of the interim financial statements, the interim management's discussion and analysis, and the related CEO and CFO certifications of filings for the three months ended March 31, 2013, June 30, 2013, and Sept. 30, 2013, would be delayed beyond the prescribed filing deadlines of May 30, 2013, Aug. 29, 2013, and Nov. 29, 2013, respectively. Furthermore, the company announced on April 16, 2014, that it would not be not be filing its audited annual financial statements, the annual management's discussion and analysis, and the related CEO and CFO certifications for the fiscal year ended Dec. 31, 2013, within the prescribed filing deadline of April 30, 2014, and on June 3, 2014, the company regrettably announced that it was unable to file the interim financial statements, the interim management's discussion and analysis, and the related CEO and CFO certifications of filings for the three months ended March 31, 2014, within the prescribed filing deadline of May 30, 2014. Then on Aug. 19, 2014, the company announced that it was unable to file the interim financial statements, the interim management's discussion and analysis, and the related CEO and CFO certifications of filings for the three months ended June 30, 2014, within the prescribed filing deadline of Aug. 29, 2014.

In accordance with NP 12-203, the company applied for a management cease trade order, and on May 1, 2013, the British Columbia Securities Commission issued an MCTO against the chief executive officer and the chief financial officer of the company. Then on July 3, 2013, due to the prolonged delay in filing of the 2012 annual filings, followed by the filing delay of the interim filings, the BCSC issued a cease trade order in respect of all of the company's shares. Only a beneficial shareholder of the company (who is not, and was not, at the date of the cease trade order of July 3, 2013, an insider or control person of the company) may sell securities of the company acquired before the date of the B.C. order if the sale is made through a market outside Canada and the sale is made through an investment dealer registered in British Columbia.

As previously announced, the Alberta Securities Commission issued a cease trade order against the company on Oct. 8, 2013, for its failure to file the 2012 annual filings, the interim filings and the second quarter filings. Under Section 33.1 of the Securities Act (Alberta), the company is ordered to cease trading or purchasing in respect of any security until the Alberta order has been revoked or varied.

As previously announced, the TSX Venture Exchange suspended the shares of World Organics from trading effective at the opening on July 4, 2013. The company's shares will be reinstated for trading only after the B.C. order and Alberta order are revoked, and a reinstatement application has been submitted and approved by the exchange.

After its reinstatement review, if the exchange is satisfied that the company has complied with all its listing requirements and if it is in the interest of the investing public, the shares will be reinstated to trading.

As previously announced, the company has turned to alternative methods of raising funds, including mostly loans from related parties, shareholders and other interested parties (see World Organics news releases of Aug. 7, 2013, Aug. 21, 2013, Sept. 4, 2013, Sept. 19, 2013, Oct. 3, 2013, Oct. 16, 2013, Oct. 30, 2013, Nov. 14, 2013, Nov. 28, 2013, Dec. 11, 2013, Dec. 30, 2013, Jan. 9, 2014, Jan. 23, 2014, Feb. 6, 2014, Feb. 20, 2014, March 6, 2014, March 26, 2014, April 16, 2014, May 1, 2014, June 3, 2014, June 17, 2014, July 7, 2014, July 21, 2014, Aug. 5, 2014, Aug. 19, 2014, Sept. 2, 2014, and Sept. 15, 2014). As reported then and now, the company continues to work with a few select groups, and will continue to do so until receipt of the necessary funds to employ the auditors and complete the 2012 annual filings, as well as the 2013 annual filings. After which, the company anticipates it will be in a better position to provide a definitive date for when it may be able to file the required filings.

There are a number of reasons the company has been unable to prepare and file its 2012 and 2013 annual filings, and until these filings and all the required filings are filed, the company intends to satisfy the provisions of the alternative information guidelines specified by NP 12-203 by issuing biweekly default status reports in the form of news releases, which will also be filed on SEDAR. The company intends to file its next default status report on or around Oct. 13, 2014.

Three new appointments to World Organics gold and green advisory group

World Organics is pleased to announce three new appointments to its advisory group, the "green and gold advisory group." The new appointees are Don Grenough of Hollywood, Calif., Kevin Hodge of Olympia, Wash., and S. Rowan Wilson of Seattle, Wash. All these three individuals bring a myriad of experience to the World Organics green and gold advisory group, both professionally and personally.

Don Grenough, producer, promoter and social networker

A true showman in every aspect of the word, Mr. Grenough is internationally respected for a distinguished career in marketing, promotional and production activities throughout the business and entertainment industries. Over the past 30-plus years, Mr. Grenough has successfully produced over 1,000 concerts with such top name entertainers as Bruce Springsteen, Elton John, Prince, Tom Jones, Sting, Julio Iglesias, The Jacksons, Mariah Carey and many others. Professionally, Mr. Grenough has produced and orchestrated special events for such luminaries as President Bill Clinton, Craig MacCaw (MacCaw Cellular), Hugh Hefner (Playboy Enterprises), Mohammed Ali and the past Governor of California, Gray Davis. As a co-founder of Herbalife International in 1980, Mr. Grenough was pioneer at the forefront of the trend toward natural health products.

During his tenure at Herbalife, Mr. Grenough played a key role in co-managing the revolutionary way in which Herbalife became a worldwide multibillion-dollar marketing giant.

Over the years, Mr. Grenough has held numerous executive positions, including positions of president and senior vice-president in many national and international corporations. Moreover, Mr. Grenough's immense talent has allowed him the opportunity to partner with high-profile business icons including Mark Hughes (Herbalife), Anthony Robbins (professional speaker, author), Bernie Cornfeld (Investors Overseas Services), Roger Vadim (director, actor) and Donald Sterling (owner, Los Angeles Clippers). Equally impressive as a motivational speaker, Mr. Grenough is heavily involved in non-profit organizations such as the Michael Jackson Foundation and PBS, the Public Broadcasting System, in partnership with Dr. Gary Null.

Mr. Grenough has had a long relationship with the company as he has served twice as a director of World Organics during the periods of January, 2003, to September, 2004, and from December, 2009, to August, 2011. More recently, Mr. Grenough has been appointed senior vice-president of Global Skyport Media, which is a multimedia multifaceted full-service media group with interests in television production, distribution, television management, satellite uplink and master control services, digital and mobile phone technology, radio programming, and music production. A most welcome addition to the advisory group, Mr. Grenough brings to the company his years of unique experience and expertise in the fields of business and entertainment, as well as his well-established long-standing Hollywood relationships.

Kevin Hodge -- founder, environmentalist, and composite designer and manufacturer

As founder of Hemp Adobe Homes, Mr. Hodge has 30 years of experience in the composite design and manufacturing industry. Mr. Hodge is responsible for design, tool and mould manufacture, and logistics for Mobile Gardens, which teaches people of all walks of life about sustainable agriculture in small spaces, as well as Grow Smart Greenhouses -- "four-season" greenhouses made from an earth-friendly aviation technology, Live Smart yurts -- circular, semi-permanent tent-like structures that are simple, smart and sustainable, made from collapsible bent wood, and new concepts in power generation and growing mediums.

In 1982, Mr. Hodge enlisted in the U.S. Marine Corps where he served with the Harrier tactical aviation group until honourably discharged in 1986. After his tour of duty and over the next few years, Mr. Hodge honed his skills in all facets of the plastics and coatings industries. Throughout this time, he remained true to his passion for aircraft and worked under contract for various composite aviation companies, including Express Aircraft and Sport International (now Sport Copter Inc.). Since 1991, Mr. Hodge has had the wherewithal to found five companies, three of which have been composite manufacturing and design firms. From a desire to make a difference, Mr. Hodge joined a group of pioneers in the sustainability movement to form an alternative energy group in August, 2007. Moving forward, and to keep informed on current issues regarding sustainability, developing environmental applications and future technologies, Mr. Hodge stays actively involved in national and worldwide organizations that understand and fully support green and sustainable ways for life and business.

Today, Mr. Hodge enjoys the collaboration in the creation and implementation of new design concepts for sustainable communities using Hemp Adobe Homes -- his company -- as the vehicle. Houses built from industrial hemp have been found to use less energy, create less waste and take less fuel to heat than conventionally constructed homes. Developed from his years of experience, Hemp Adobe Homes are made from industrial hemp using unique and proprietary methods. As the company continues its due diligence of the medical marijuana and hemp industries, the addition of Mr. Hodge to its green and gold advisory group adds to the work experience or exposure of other advisory group members within these fields.

S. Rowan Wilson, MBA -- mensan, activist, and Generation Xer

"So how does a nice, conservative Jewish woman like you get involved in pot?!" is the usual question. It's a fair question. She grew up a kid of the 80s "just saying no" until her weight spiraled with continual pain and another job layoff. Ms. Wilson exemplifies the challenges and changes faced by Generation-X. Two-income families, rising divorce rates and a shift from a manufacturing economy to a service economy, Generation Xers have had to be more flexible, committed to more than one "life" employer and more willing to change jobs to get ahead than previous generations. They are independent, resourceful and self sufficient. Ms. Wilson is a typical Generation Xer. Her background includes an undergraduate degree in music from the University of Texas at Austin, a voice performance certificate from the Austrian American Mozart Academy in Salzburg and an MBA started at Notre Dame University's sister school, St. Edward's University, which was completed summa cum laude in 2011 at Colorado's Jones International University. At the early age of four, her mother put her on stage. By 18 she was apprenticed to an opera company. Ms. Wilson sang throughout the Germanic countries, and the South and the Midwestern United States. She later taught voice at the University of Texas at Austin before pursuing her other passions leading into the late 1990s tech boom. It was in Europe when she first discovered the benefits of natural medicine, eventually leading the "nice conservative now-divorced Jewish woman" to cannabis.

During this time and while still in her 20s, Ms. Wilson worked as a project manager to product manager for such companies as Motorola, I2 Technologies, now JDA, and Garage.com. After the dot-com bust, Ms. Wilson enrolled in law school in England prior to her return to business. Before the 2008 banking crash, she spent several years working in commercial real estate lending, financing $500,000 to $55-million commercial properties from retail strip malls to apartments, storage units and office buildings.

Other interests include an involvement in politics and activism. Her childhood included working on political campaigns with her father, a noted small-town attorney. She hikes, blogs and cooks, and is a hobbyist gardener and an avid cannabis baker. She was introduced to cannabis in her mid-30s as a method back to her European singing days where she discovered the benefits of natural medicine. In fact, while working on pre-med coursework in Nevada, Ms. Wilson took preliminary steps to open her own cannabis-baked goods shop a mile and a half from a legendary brothel. Shortly thereafter, she abandoned a further PhD and the pursuit of a doctor of osteopathy. She then again returned to business in the field of medical sales for device and service companies. Today, Ms. Wilson continues to teach and speak from time to time on topics including the basic science of cannabis.

Ms. Wilson has worked in the field of insurance for substantial companies such as Banker's Life & Casualty Company, Dignity Memorial and State Farm Insurance. Up until quite recently, Ms. Wilson held a day job in finance utilizing her MBA in finance. She has now left it to spend full time on the growth, development and expansion of the medical marijuana and industrial hemp industries. In furtherance of her new career path, Ms. Wilson has started a website, Mary Jane's World, from which she offers a comprehensive menu of research products and services.

Mr. Grenough, Mr. Hodge and Ms. Wilson join Guy Dumas of Sault Ste. Marie, Ont., Justin MacArthur Rand of Boston, Mass. (see the company's news release of June 17, 2014) and Dr. Lila York of Seattle, Wash. (see the company's news release of Sept. 15, 2014) on the World Organics green and gold advisory group. The combined experience of all members of the advisory group will greatly assist the company in moving forward on its tentative plans, particularly within the medical marijuana and industrial hemp industries.

The company reports that, except as described herein and since the issuance of the original default announcement on April 16, 2013, and the subsequent 34 default status reports of May 1, 2013, May 15, 2013, May 29, 2013, June 12, 2013, June 26, 2013, July 10, 2013, July 24, 2013, Aug. 7, 2013, Aug. 21, 2013, Sept. 4, 2013, Sept. 19, 2013, Oct. 3, 2013, Oct. 16, 2013, Oct. 30, 2013, Nov. 14, 2013, Nov. 28, 2013, Dec. 11, 2013, Dec. 30, 2013, Jan. 9, 2014, Jan. 23, 2014, Feb. 6, 2014, Feb. 20, 2014, March 6, 2014, March 26, 2014, April 16, 2014, May 1, 2014, June 3, 2014, June 17, 2014, July 7, 2014, July 21, 2014, Aug. 5, 2014, Aug. 19, 2014, Sept. 2, 2014, and Sept. 15, 2014, there have not been any additional material changes to the information contained therein. Further, the company has not failed to fulfill its intentions as stated therein with respect to satisfying the provisions of the alternative information guidelines specified by NP 12-203 and, except as disclosed in this news release, there are no additional defaults or anticipated defaults in respect of the company and its affairs that have not been generally disclosed (see the company's news releases of June 19, 2013, July 16, 2013, April 1, 2014, June 3, 2014, June 17, 2014, and Sept. 15, 2014).

We seek Safe Harbor.

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