EXMceuticals Inc. appoints Michael Kinley as CFO
Vancouver, British Columbia, February 6, 2020 – EXMceuticals Inc. (CSE: EXM) (FSE: A2PAW2) (the “Company” or “EXM”), a producer of high-grade cannabis extracted ingredients for the pharmaceutical, nutraceutical, therapeutical and cosmetic industries, is pleased to announce the appointment of Michael Kinley CPA,CA to the position of Chief Financial Officer.
Mr. Kinley, a former partner with KPMG, has been the President of Winslow Associates Management & Communications Inc.since 1993, a private consulting firm which provides professional services to junior public companies. Mr. Kinley is a Chartered Professional Account and has served as an officer and director for several public companies over the past thirty years. His appointment is effective immediately.
Jonathan Summers, CEO and Chairman of the Board said:
“Mr. Kinley brings with him extensive experience in the regulatory market and has extensive experience leading junior companies. Mr. Kinley is a great addition to the management team. I am pleased to welcome Michael as permanent CFO and I am looking forward to working with him on executing our strategy in becoming a leading low-cost producer of high-quality cannabis and hemp ingredients for the European and North American markets.”
The Company also announces that it has granted incentive stock options to a director of the Company to
purchase up to an aggregate of 466,931 common shares of the Company pursuant to the Company’s Omnibus
Equity Compensation Plan (the “Plan”). The stock options are exercisable at a price of $2.00 per share for a
period of 10 years from the date of grant. The Company has also issued an aggregate of 2,250,000 restricted
share units (“RSUs”) under the Plan to the CEO and an executive officer of the Company. The RSUs have a
deemed price of $0.50 per unit and entitle the holder to receive one share of the Company per RSU, subject to
vesting in equal annual instalments over a three-year period.
EXMceuticals Inc. and minority shareholders of EXMceuticals Portugal, Lda, have signed an agreement, under the terms of which EXMceuticals Inc has acquire the minority stake (30%) from Mrs Adilia Charmier and Mrs Candida Rocha, by its nominal value. As a result of the acquisition at the present date, EXMceuticals Inc holds, directly and indirectly, 100% of the share capital of EXMceuticals Portugal, Lda. EXMceuticals Portugal, Lda holds a licence for cannabis research and development issued by INFARMED, the Portuguese National Authority of Medicines and Health Products, that authorizes the company to import, research and refine cannabinoids and cannabis by-products in Portugal. EXMceuticals Portugal, Lda operates in Portugal a state-of-the-art pilot-scale refinery for the transformation of cannabis-based ingredients on a R&D environment and conditions.
ON BEHALF OF THE BOARD OF DIRECTORS OF EXMCEUTICALS INC.
Jonathan Summers, Chairman and Chief Executive Officer
For further information contact:
Mélanie Guillemette: +1 819 668 2734
FOR MORE UPDATES ON THE COMPANY
Follow us on Twitter: https://twitter.com/EXMceuticals
Follow us on LinkedIn: https://www.linkedin.com/company/exmceuticalsinc/
EXM is targeting the wellness and medical applications of cannabis. EXM’s activities are focused on the sustainable cultivation of cannabis and hemp, and the production of high-grade cannabis and hemp ingredients for the pharmaceutical, therapeutical, nutraceutical and cosmetic industries. The Company proposes to sell the produced ingredients to international markets. EXM is not a recreational cannabis company.
EXM was recently granted the required authorizations and permits in Portugal for its existing laboratory and pilot refinery for cannabis research. EXM has previously completed research projects with its university partners, Universidade Nova de Lisboa and Universidade Lusofona as well as applying for P2020 research grants. Following receipt of these unique Portuguese cannabis authorizations and permits, EXM is proceeding with its planned R&D program, lab work and testing. In addition to this more scientific mandate, EXM is now projecting and building a significantly larger refining facility in Portugal which once complete and licensed will be used by EXM as its base for distribution of cannabis ingredients in the EU and North America.
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 obtained land rights over 2,000 hectares (4,940 acres) in the Amhara region.
CSE: EXM| FSE: A2PAW2
Neither the CSE nor the FSE has approved nor disapproved the contents of this news release. Neither the CSE nor the FSE accepts responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be”, “expected”, “proposes”, “intends” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the Company’s business operations, including the cultivation of cannabis in Ethiopia and elsewhere, the extraction of cannabis ingredients and the exportation of the extracts, the results of testing at our facilities established for the European market, future laws and regulations governing the sale of our products in Europe and elsewhere, and the potential to generate sales, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of EXM to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. EXM will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.