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Pivot Pharmaceuticals Inc
Symbol PVOT
Shares Issued 88,679,077
Close 2019-06-24 C$ 0.37
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Pivot Pharmaceuticals appoints Lucky as COO

2019-06-24 06:31 ET - News Release

Dr. Patrick Frankham reports


Pivot Pharmaceuticals Inc. has appointed Chris Lucky as its chief operating officer to strengthen its management team as it commences commercial production and sales of its superior formulated and science-based cannabis products. The company also announces the addition of Dr. Ken Kessler and Krisztian Toth to its board of directors, joining Dr. Wolfgang Renz and Dr. Joseph Borovsky. Mr. Toth will serve as executive chairman while Dr. Patrick Frankham has stepped down from the board of directors and continues as chief executive officer.

Mr. Lucky stated: "I am delighted to join Pivot's executive team as the company prepares to commercialize its product line. I believe that Pivot is well positioned to enter the cannabis market with superior products and a large portfolio of science-based and patented delivery systems that many cannabis companies do not yet have." Mr. Lucky also added, "My experience with a public cannabis company in an emerging industry and extensive consumer health care products expertise will help Pivot accelerate its path to revenue and compete for customers with some of the cannabis industry's leading players."

Dr. Patrick Frankham, chief executive officer, commented: "The addition of Chris to the executive team will help Pivot to streamline commercialization of its CBD and THC consumer products line. With Pivot entering a phase of rapid growth of its superior formulated cannabis products and cash flow generation, the addition of Chris will have an immediate impact to our operations and supply chain. We are also extremely pleased with the addition of Ken and Krisztian to the board of directors.

"Pivot now operates in three key cannabis markets (Canada, California and European Union) and we are launching product into the EU while we wait for final approval of our standard processor and medical sales licence in Montreal. Our Costa Mesa, Calif., facility is currently licensed to conduct manufacturing, distribution and sales of cannabis products and we are advancing as planned." Dr. Frankham added: "The recently completed financing, the addition of elite branding experts like Joe Mimran to our corporate advisory board, strengthening our executive leadership team and our board of directors further demonstrates our commitment to scale the company as we take our place in an emerging market where no single brand has provided consumers with a consistent, reliable or quality experience. Pivot has created the industry's largest portfolio of patented consumer cannabis products and we will provide the consistent, reliable and quality experience that consumers are demanding."

Mr. Lucky is a seasoned business leader with over 20 years experience leading and managing complex businesses. He has a proven record of delivering year-over-year improvements by designing and implementing scalable and sustainable solutions. His experience spans across multiple industries including retail, manufacturing and distribution and has a deep understanding of organizational effectiveness and building efficient operational models that deliver consistent results. Most recently, Mr. Lucky was at Canntrust Holdings Inc. as vice-president, supply chain and manufacturing. Prior to that he has held executive roles at Cardinal Health as vice-president, distributions, and Loblaw Companies Ltd. as vice-president, supply chain. He holds an MBA from Ivey School of Business, and a BBA in accounting and financial management.

Dr. Kessler

Dr. Kessler is a board-certified medical psychiatrist. He has practised psychiatry for 10 years and specialized in psychopharmacology and treatment of drug addictions. Over his career he has held teaching appointments at Harvard Medical School and George Washington Medical School. Dr. Kessler has published peer-reviewed articles and book chapters. He has successfully founded three U.S. national health care companies in managed behavioural health, disease management and opioid substance abuse treatment.

Mr. Toth

Mr. Toth is a partner at Fasken Martineau, Toronto, Canada. He focuses on mergers and acquisitions and corporate finance. He is recognized by the IFR1000 for his capital markets work.

About Pivot Pharmaceuticals Inc.

Pivot Pharmaceuticals is a science-based consumer packaged goods cannabis company engaged in the development and commercialization of health and wellness products using innovative, patent-protected drug delivery technologies. Upon receipt of a standard processor licence (pending) from Health Canada, Pivot's premium, bioavailable, stable and effective products will be manufactured at its 50,000-square-foot cyclic good manufacturing practice facility located in Montreal, Que.

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