04:57:13 EDT Wed 14 Apr 2021
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Speakeasy Cannabis Club Ltd
Symbol EASY
Shares Issued 126,290,012
Close 2021-02-23 C$ 0.55
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Speakeasy appoints Williams to board

2021-02-23 21:49 ET - News Release

Mr. Malcolm Davidson reports


Speakeasy Cannabis Club Ltd. has appointed Dr. Charles Williams, PhD, as an additional independent director to its board of directors.

As part of its growth strategy, Speakeasy added critical talent to its leadership in 2020, including chief executive officer Malcolm Davidson, a veteran of public company finance, management and marketing.

"I'm grateful to be a part of this team and its quality-first culture," said Mr. Davidson. "Looking ahead, the vision for our shareholders is to leverage Speakeasy's knowledge, decades of experience, and unique combination of outdoor and indoor cultivation to become a highly profitable, leading supplier of exceptional-quality cannabis."

Bill Fleming was elected as an independent director in February, 2020, and as chairman of the board in January, 2021. Mr. Fleming was previously president of Mernova Medicinal Inc., which was recently sold to Switzerland-based Creso Pharma Inc., and is currently the president and chief executive officer for Halucenex Life Sciences Inc., a company which specializes in researching, developing and conducting clinical trials on the medical benefits and licensing of novel psychedelic compounds, including psilocybin, LSD (lysergic acid diethylamide) and MDMA (3,4-methylenedioxymethamphetamine).

The company is also pleased to announce that Ian Waddell has been appointed to Speakeasy's advisory board. It is expected that Mr. Waddell will be appointed to the board upon receipt of security clearance from Health Canada as an independent director.

Dr. Williams

Dr. Williams currently holds full security clearance and obtained a PhD from McGill University in organic chemistry and, thus, brings a unique perspective to any question. Dr. Williams brings extensive regulatory experience, having over 25 years of direct regulatory experience. He operated a consulting firm for over 20 years, serving clients in a wide variety of regulatory aspects from environmental regulations, food, compliance and pesticide registrations. Having served the past three-plus years as director of quality assurance, he has overseen all regulatory aspects of Mernova Medicinal. He has overseen Mernova Medicinal from the initial Health Canada application under the Access to Cannabis for Medical Purpose Regulations (ACMPR) to Mernova being licensed for processing and sales under Health Canada's Cannabis Act and Regulations. He brings also experience and training in good laboratory practice, good manufacturing practices and good production practices.

Ian G. Waddell, QC

Mr. Waddell has a master of laws degree from the London School of Economics (United Kingdom) and practised as both a Crown attorney and defence counsel. As the director of the Storefront Lawyers (VCLAS), he litigated the first class action suit in Canadian law history. In 2013, he was appointed Queen's Counsel (QC) by the attorney-general of British Columbia. He served as a member of the Canadian Parliament for over 14 years, first representing the Vancouver Kingsway riding then Port Moody-Coquitlam. Later, he was elected to the B.C. legislature, where he served as: Minister of Tourism, Culture and Small Business; Minister of Environment, Lands and Parks; and Minister on Intergovernmental Affairs. As minister, he started the successful 2010 Winter Olympics bid and expanded B.C. film into a billion-dollar industry. As special counsel to the Royal (Berger) Commission of the Mackenzie Valley Pipeline, he gained extensive knowledge and valuable insights into aboriginal and energy issues whereby his experience and expertise were instrumental in drafting sections of the repatriated Canadian constitution regarding aboriginal rights (Section 35).

As chair of the Fraser Basin board, he collaborated with public and private partners, including first nations, to produce a report card on the environmental state of the basin, and has been a member of numerous Canadian delegations, including Kyoto 6 and the transfer of Hong Kong, as well as issues dealing with the Middle East. He has taught at Simon Fraser University and University of British Columbia, and is a visiting scholar at Massey College, University of Toronto. He is a long-time member of the board of governors for the Arts Club of Vancouver and the Heritage Vancouver Society, a published author (A Thirst to Die For and Take the Torch), and a documentary filmmaker (Why Young People Don't Vote), with experience as a TV and radio commentator. He currently heads his own film and government relations company.

In conjunction with these appointments, the company also announces the grant of an aggregate of 300,000 incentive stock options to directors, such options to be granted in accordance with applicable laws and the policies of the Canadian Securities Exchange.

Coronavirus impact in 2020

Like all businesses in Canada, Speakeasy's operations were impacted by the COVID-19 pandemic. The company implemented protocols to help prevent potential spread of the virus. The transition was largely seamless as Speakeasy's facilities have always been maintained to a high level of cleanliness and free from contamination. As a result, Speakeasy has recorded no COVID-19-related infections to date. The company will continue implementing its COVID-19 protocols for the foreseeable future.

About Speakeasy Cannabis Club Ltd.

Speakeasy holds a cultivation, processing and sales licence issued by Health Canada under the Cannabis Act. Speakeasy owns 290 acres of land in Rock Creek, B.C., and leverages five generations of farming experience in B.C., as well as its favourable location to grow and process high-quality cannabis products at low cost. Speakeasy cultivates small-batch, high-quality, craft cannabis at scale in its 63,200-square-foot indoor cannabis complex and has completed its harvest of its 60-acre outdoor field. Total yearly production of cannabis flower and biomass is projected to be in excess of 70,000 kilograms per year once in full production.

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