EXMceuticals Announces Appointment of New Chairman
Vancouver, British Columbia--(Newsfile Corp. - June 3, 2019) - EXMceuticals Inc. (CSE: EXM) (FSE: EXM) (the "Company" or "EXM") the emerging low-cost operator in the high growth CBD and cannabis extracted ingredients market announces the appointment of its new London-based chairman and member of the board of directors, Mr. Jonathan Summers. Jonathan takes over the role from the previous incumbent Mr. John Anderson. The succession is effective immediately.
Jonathan Summers is a founding partner of Everett Capital Advisors, a $500mn (USD) London based Investment fund. Before founding Everett in 2015, Jonathan acted as a founder and senior executive in a major Hong Kong based asset management firm. Prior to that he was employed by Goldman Sachs for more than 15 years, in both London and Tokyo. His expertise in international business, acquaintance with multi-jurisdictional issues, and a management style based on best practices will contribute to further implement the Company's global growth strategy.
Jonathan Summers said: "I am thrilled as much by the challenge as by the sheer potential of EXM. We operate in Canada, Europe and Africa already, with a multilingual and multicultural team, in an emerging industry. CBD has been a very highly regulated sector which has only recently begun to open up to commercialisation and trade. Growing a CBD business will require a profound awareness of all the legal, financial and logistical issues involved, detailed business planning, as well as the highest standards of corporate governance. I am also excited by the forward-thinking vision of the founders, coupled with their experience and dedication. The EXM business model takes advantage of the excellent outdoor climate and growing conditions in Africa, as well as the potentially enormous opportunities in the European market for CBD ingredients and related products. I am proud to have been given the opportunity to join EXM as Chairman at this exciting time, and I will do all I can to further develop its global footprint. "
Michel Passebon, CEO of the Company, commented "With imminent significant milestones now pending in Europe and Africa, Jonathan's appointment will help consolidate the expertise already in place within EXM and also support the rapid transition toward the next steps. His experience and insight will be very valuable to set and implement the Company's direction. The vision of EXM is to build the world's largest and lowest cost high-grade cannabis ingredients supply chain."
ON BEHALF OF THE BOARD OF DIRECTORS OF EXMCEUTICALS INC.
Michel Passebon, Chief Executive Officer and Director
For further information contact:
EXM Investors Relations +1 604-897-0132 Email: firstname.lastname@example.org
Jane Glover/ Jake Thomas/ Billy Clegg +44 (0) 203 757 4990 Email: email@example.com
Neither the CSE, nor the FSE has approved nor disapproved the contents of this press release. Neither the CSE, nor the FSE accepts responsibility for the adequacy or accuracy of this release.
EXM's activities are focused on the sustainable cultivation of cannabis and hemp, and the production of high-grade and hemp ingredients for the pharmaceutical, therapeutical, nutraceutical and cosmetic industries. The Company proposes to sell the produced ingredients to international markets.
EXM is in the final stage of procuring the required authorizations and permits in Portugal for its laboratory for research, and center for processing and distribution, which are currently under construction. EXM has previously completed research projects with its university partners, Universidade Nova de Lisboa and Universidade Lusofona. Pending receipt of the authorizations and permits, EXM is proceeding with its R&D program, lab work and testing under the licenses that its university partners have already obtained for the initial research projects. In addition to its more scientific mandate, the facility being built is proposed to be used by EXM as its base for distribution in the EU and North America.
EXM, through its subsidiary and in-country partner, holds the rights to a cannabis license in the Kuba Kingdom, Mweka, Kasai Province, Democratic Republic of Congo, and the rights to a land concession for the cultivation of cannabis and hemp, and processing and export of high-grade cannabis extracted ingredients.
EXM has also submitted applications and undertaken negotiations with local governments and partners in Ethiopia, Malawi, Zambia, Eswatini and Burundi, in order to obtain licences to permit the cultivation of cannabis and hemp, as well as the processing, transformation and export of psychotropic and non-psychotropic cannabinoid ingredients. In Ethiopia, EXM is in its final stage of negotiation with the government for an agro-industrial park, of 4,000 hectares (9,880 acres) encompassing a free trade zone, for which EXM has already obtain land rights over 2,000 hectares (4,940 acres) in the Amhara region.
In addition, EXM is in the process of obtaining a license in Malawi, in partnership with a large local agro producer. Please see previous press releases for more information on EXM Malawi activities.
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