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Pivot Pharmaceuticals Inc
Symbol PVOT
Shares Issued 88,679,077
Close 2019-07-09 C$ 0.395
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Pivot Pharmaceuticals appoints Starr president

2019-07-09 19:19 ET - News Release

Mr. Krisztian Toth reports


Pivot Pharmaceuticals Inc. has hired Russell Starr as its president.

Mr. Starr will work closely with Krisztian Toth, the executive chairman of Pivot, and report to the board of directors. Mr. Starr will lead Pivot's capital market activities, including outreach to existing and potential shareholders in Canada and internationally. This appointment will greatly increase the company's visibility both to institutional and retail investors. Mr. Starr also provides greater depth of management expertise in corporate finance, and mergers and acquisitions.

As a successful entrepreneur with over 20 years of corporate finance, investment and business development experience, Mr. Starr left Bay Street in 2012 to take an executive position and board appointment with Cayden Resources (acquired by Agnico Eagle in 2014). While as senior vice-president and board member with Cayden Resources, Mr. Starr was integral in the marketing, financing, development and ultimate sale of Cayden for $205-million to Agnico Eagle.

Mr. Starr has also held senior positions and advisory roles with financial institutions, including RBC Capital Markets, Scotia Capital, Orion Securities, Blackmont and Lawrence & Company. Mr. Starr is also a co-founder and part owner of Echelon Wealth Partners, a large Canadian investment dealer.

Mr. Starr holds an MBA from the Richard Ivey School of Business, a master of arts degree in economics from the University of Victoria and a bachelor of arts degree in economics from Queen's University.

"This is an incredible opportunity," said Mr. Starr. "I am energized and honoured to be a part of shaping the future of consumer-focused cannabis products using Pivot's innovative, patent-protected drug delivery technologies to provide consumers with the consistent science-based quality they are demanding while generating substantial cash flow generation for Pivot and its shareholders."

"I am thrilled to add Mr. Starr to our team," said Mr. Toth. "Mr. Starr brings a unique combination of deep capital market experience and well-honed strategic and business capability. The closing of our transformational financing, the addition of elite branding experts like Joe Mimran to our corporate advisory board and the additions to our executive leadership team, as well as our board of directors, demonstrates our commitment to scale the company as we take work to become the first cannabis company to provide consumers with a consistent, reliable and quality experience."

Pivot also announces that Mr. Starr has also been appointed as interim chief executive officer of Pivot replacing the prior chief executive officer, Patrick Frankham.

Joe Borovsky, a director and the former chairman of Pivot, added, "We wish to thank Patrick for contributions to the company, and we wish him success in this next phase of his career."

About Pivot Pharmaceuticals Inc.

Pivot Pharmaceuticals is a science-based, consumer packaged good cannabis company engaged in the development and commercialization of health and wellness products using innovative, patent-protected drug delivery technologies. Upon receipt of standard processor and medical sales licences (pending) from Health Canada, Pivot's premium, bioavailable, stable and effective products will be manufactured at its 50,000-square-foot cGMP (current good manufacturing practice) facility located in Montreal, Que. Pivot's wholly owned U.S. subsidiary, Pivot Naturals LLC, based in Costa Mesa, Calif., was granted a provisional annual manufacturing licence type N: infusion licence by the California Department of Public Health in May, 2019. Pivot's product line will include infused beverages, vegan capsules, dissolvable tablets, topical creams and gels, intimate lubricants, roll-on pain relievers, stick packs, and bulk powder for the edibles market.

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