Dr. Bin Huang reports
SPEAKEASY ANNOUNCES APPOINTMENT OF NEW OFFICERS AND DIRECTORS
Speakeasy Cannabis Club Ltd. has made new appointments to its board of directors in anticipation of receiving its licence from Health Canada.
Marc Geen will resign as the company's chief executive officer, and the position will be filled by Dr. Bin Huang. Dr. Huang is the former president and chief executive officer of Emerald Health Therapeutics Inc. She comes with a wealth of knowledge and experience in this industry. Marc Geen commented: "We are so pleased and privileged to have Bin join Speakeasy as our CEO, both for the near- and long-term visions of our company. With her extensive experience in strategy, business development, public markets and operations in this industry, Bin is an incredibly valuable addition to our team. I will be temporarily moving to the advisory board as we move through the final stages of the Health Canada approval process." Health Canada rules state that security clearances must be issued to the directors and officers of the corporation, or to any individual who exercises, or is in a position to exercise, direct control over the corporation.
Dave Cross will resign as the company's current chief financial officer; however, the day-to-day financial operations will remain with his firm, Cross Davis and Co. The acting chief financial officer position will be filled by Patrick Geen, who has been involved with the company since its inception. Along with being appointed to the board of directors, Patrick Geen is also the company's head grower.
Zena Prokosh has been involved in the project since 2016 in the capacity of quality assurance/quality control. Along with operational industry experience since 2013, Ms. Prokosh will fulfill her position on the board by delivering a wealth of knowledge in taking companies through the Health Canada licensing process. Marc Geen commented: "Adding Zena to our board is a great natural fit with the company. She has been intimately involved in the development of the property and is an integral part in the growth of the company."
Along with Marc Geen's resignation as chief executive officer and a board member, Brian Peery, president and a board member, Alexander Kaulins, chief technology officer and a board member, and Jeremy Ross, a board member, will resign from their director and officer positions to join Marc Geen on the company's advisory board. Mervyn Geen has resigned as a director and chairman of the board. Mervyn Geen commented: "It is time for me to watch the success of the generations as they continue on the legacy of farming. This has been an exciting venture, and it has been a pleasure to be a part of the growth. I am confident the time couldn't be better than the present to pass over the reins."
In connection with her employment agreement, Dr. Huang is entitled to receive, in addition to her salary and in accordance with applicable laws (including the policies of the Canadian Securities Exchange), incentive stock options. The company's board of directors has approved the grant of an option for up to 1,738,333 common shares of the company with an exercise price of 67 cents per share. The option will expire five years from the date of grant.
The company sincerely thanks the foregoing for their contributions to date. With the changes above implemented, Speakeasy believes it has reached full compliance for meeting the Health Canada rules for licensing.
About Speakeasy Cannabis Club Ltd.
Speakeasy is a late-stage applicant under the Cannabis Regulations. It is seeking to leverage three generations of farming experience in British Columbia to produce high-quality, small-batch cannabis products once it obtains a licence to do so.
We seek Safe Harbor.
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