Leviathan Completes Sale of Woodstock Biomed & Announces the Appointment of Linda Marabeti Romano as New CFO
Toronto, Ontario--(Newsfile Corp. - August 31, 2022) - Leviathan Natural Products Inc. (CSE: EPIC) (OTCQB: LVCNF) (FSE: IQ7) (the "Company" or "Leviathan") announces that it has completed the sale of its 100% interest in Woodstock Biomed Inc. ("Woodstock Biomed") for total consideration of $5,000,000 (the "Woodstock Sale"). The proceeds from the Woodstock Sale are intended to be used for general corporate purposes and working capital needs.
Further, Leviathan is pleased to announce that the Board has appointed Linda Marabeti Romano as Chief Financial Officer. Ms. Marabeti Romano replaces Manish Z. Kshatriya, who has been serving as the Company's Chief Financial Officer since March 7, 2022, effective immediately.
Linda Marabeti Romano brings 20 years of work experience in corporate accounting, finance, tax, audit and assurance.
About Leviathan Natural Products Inc.
Leviathan Natural Products Inc. is a multidimensional cannabis company focused on its retail customers and technology to democratize cannabis markets.
For more information, please contact:
Leviathan Natural Products Inc.
Tel: (717) - 888 - 8889
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Certain information in this press release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or negatives of these terms and similar expressions.
Forward-looking statements are based on certain assumptions, including successful application to be a licensed cannabis producer and seller, expected growth, results from operations, performance, industry trends and growth opportunities. While Leviathan considers these assumptions to be reasonable, based on information currently available, they are inherently subject to significant business, economic and competitive uncertainties and contingencies and they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements also necessarily involve known and unknown risks, including without limitation, risks associated with general economic conditions, adverse industry events, marketing costs, loss of markets, future legislative and regulatory developments, the inability to access sufficient capital on favorable terms, the medical and recreational cannabis industry in Canada in general, income tax and regulatory matters, the ability of Leviathan to execute its business strategies, competition, crop failure, currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ from those anticipated. Forward-looking statements are not guarantees of future performance. Except as required by law, Leviathan disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Forward- looking statements contained in this news release are expressly qualified by this cautionary statement.
Source: Leviathan Natural Products Inc.
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