Mr. Bin Huang reports
SPEAKEASY APPOINTS A NEW MEMBER TO ITS BOARD OF DIRECTORS
Speakeasy Cannabis Club Ltd. has appointed Bill Fleming, an independent director, to its board at its 2020 annual general meeting.
Mr. Fleming has founded and served as chief executive officer for a number of entrepreneurial companies, and has served with senior executive teams dealing with equity and debt financings. Mr. Fleming has developed corporate strategies for a wide range of companies, from family-owned businesses to multinational companies. Mr. Fleming currently serves as president of Mernova Medicinal Inc., which recently sold to Switzerland-based Creso Pharma Ltd. Mr. Fleming is the executive chairman of Mountain Lake Minerals, and was chief executive officer and director of a cannabis company. He most recently served as the chief financial officer and director of NWest Energy Corp. Mr. Fleming has experience, raising equity for small-cap companies, and has experience in mineral exploration, renewable energy and the cannabis industry.
Chief executive officer Bin Huang stated: "On behalf of Speakeasy's board of directors, I am very pleased to welcome Mr. Fleming to the company. Bill's experience in corporate governance is an asset to a public company. We are confident that his expertise and perspective will be of great value to Speakeasy as the company grows."
In conjunction with his appointment, Mr. Fleming will be granted an option, expiring five years from the date of grant, to purchase up to 100,000 shares of Speakeasy at an exercise price of 39 cents per share. The company also announces that it has granted to an employee an option, expiring five years from the date of grant, to purchase up to 300,000 shares of Speakeasy.
The company is also pleased to report that at its annual general meeting, held on Jan. 29, 2020, all of the matters put forward before shareholders for consideration and approval as set out in the company's management information circular dated Dec. 18, 2019, were approved by the requisite majority of votes cast at the meeting. Speakeasy's board now consists of Pat Geen, Mr. Huang, Frey Garabagi and Mr. Fleming.
About Speakeasy Cannabis Club Ltd.
Speakeasy Cannabis Club 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 three generations of farming experience in British Columbia, 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 in its 10,000-square-foot indoor facility and has recently completed the development of its 60-acre outdoor field. The company's intention, upon receipt of an amendment to its current licence to include the outdoor cultivation area, is to produce approximately 70,000 kilograms of outdoor, sun-grown cannabis in 2020.
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