CALGARY, Dec. 4, 2018 /CNW/ - Gabriella's Kitchen Inc. (CSE:GABY) ("GABY" or the "Company") is pleased to announce it has appointed Mr. Robert Travis and Ms. Maureen Putnam to the Company's Board of Directors effective November 26, 2018, whose respective skills and experience will provide invaluable oversight and counsel as GABY continues to execute its growth strategy. Concurrent with these additions, GABY confirms that Mr. Richard Bonnycastle has resigned from the Board in favour of joining the Company's strategic Advisory Board.
A citizen of both Canada and the U.S., Robert is attuned to the subtle differences in leadership requirements between the two countries. This, coupled with his extensive experience, makes Robert ideally suited to provide valuable oversight to GABY as the Company develops a comprehensive, cross-border team capable of executing GABY's vision of being a leading, trusted cannabis wellness company. Robert has already significantly impacted the cannabis industry through recruitment of positions including CEO, CFO, President, Chairman, and Vice President for an array of companies such as Canopy Growth (CSE: WEED), Tilray (NASDAQ: TLRY), Harvest One Cannabis (TSXV: HVY) and The Green Organic Dutchman (CSE: TGOD).
Further to the Company's announcement on November 26, 2018 outlining the appointment of Ms. Maureen Putnam as a special advisor to GABY, the Company is pleased to announce that she has agreed to join GABY's Board of Directors. Maureen brings 25 years of experience building brands, creating and delivering strategic growth plans and developing strong and impactful teams within the consumer product goods space. Her multifaceted expertise spans product categories with a specialized focus on health and wellness, environmental sustainability and the acceleration of emerging brands. Maureen is the former President of The Grocery and Snacks Division of The Hain Celestial Group, Inc. (NASDAQ: HAIN) and also held the position of Chief Innovation Officer. She originally joined Hain as a start-up, significantly contributing to its growth to over $2.5 billion, and this experience positions her well to help guide GABY to its projected growth targets.
Maureen's knowledge and experience building brands from scratch to category leaders will be an incredible value for GABY as the Company continues to expand. Her hands-on experience working with key retailers in the US including Kroger, Walmart, Whole Foods, Target, Safeway and Wegmans will assist GABY as the Company continues to grow its presence in the consumer market with a full range of health and wellness products.
As a member of GABY's strategic Advisory Board, Richard will be well positioned to provide deeper, more tactical advice on specific areas within his expertise, which includes building global brands and establishing worldwide product distribution. Numerous aspects of his extensive career will be invaluable for GABY moving forward, including Richard's experience taking Harlequin Publishing global, building Patheon Inc. into a global pharmaceutical company and serving as a Director of the Canada Development Investment Corporation. The shares Richard acquired and voluntarily escrowed upon joining the board will remain escrowed for the original three-year term.
STOCK OPTION GRANT
In concert with the Board appointments, GABY has granted to the newly appointed directors of the Company, an aggregate of 300,000 stock options that are exercisable at a price of $0.50 per share (the "Options") and expire five years from the date of grant, in accordance with GABY's stock option plan. The Company has granted Mr. Travis 150,000 Options that vest over a three-year period, with 1/3 of the Options vesting immediately, and 1/3 vesting at the end of each of the first and second anniversary of the date of grant. Ms. Putnam was granted two tranches of Options; 150,000 in her capacity as a special advisor and 150,000 in her capacity as a board member. In the case of the former grant, the initial 50,000 Options vested immediately, while the remaining 100,000 Options will vest on the first anniversary of the date of grant and in the case of the latter grant, those Options will vest on the same schedule as the Options granted to Mr. Travis and the other board members.
About Gabriella's Kitchen:
Gabriella's Kitchen (GABY) is a pure-play cannabis edibles and wellness products company which currently holds a manufacturing license and will hold a distribution license issued by the California Bureau of Cannabis Control upon closing of the Sonoma acquisition. With these licenses, its existing infrastructure of major retailers and an extensive broker and distribution network, GABY is positioned to service mainstream grocery with CBD infused products, as well as licensed cannabis retailers with CBD and THC-infused edible and wellness products throughout Canada and the U.S. The Company also has over 25 non-infused products available in more than 3,400 major retail stores across North America.
Margot and her sister, Gabriella, co-founded GABY to bring high quality, delicious and healthy superfoods to the market. The desire to create the all-encompassing wellness company came after Gabriella received a dire cancer diagnosis which spurred the sisters to prolong Gabriella's life through a holistic approach to health. GABY directly and through The Oil Plant ("TOP") now offers a diverse range of products that cater to a variety of dietary and health concerns. Although Gabriella ultimately passed away from her illness, she lived exponentially longer than doctors predicted. Her memory and passion live on through GABY's mission: to empower people to live healthy lives without compromise.
Disclaimer and Forward-Looking Information
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release. Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of Gabriella's Kitchen Inc. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward looking statements include, but are not limited to, the anticipated availability of the Company's Infused Products. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
The Oil Plant, Inc. ("TOP") is a wholly owned subsidiary of GABY. TOP owns cannabis license in California. Cannabis is legal in the State of California however cannabis remains illegal under United States ("U.S.") federal laws. The U.S. Department of Justice issued guidance in 2013 indicating that it will focus on certain enforcement priorities, outside of which it will generally not enforce federal prohibitions on cannabis in U.S. states that have authorized this conduct so long as the U.S. state has implemented a strong and effective regulatory program. This federal guidance is subject to change, rescission or alteration by other federal government policy pronouncements at any time. TOP's business is conducted in a manner consistent with the State law of California and is in compliance with regulatory and licensing requirements applicable in the State of California. However, the readers should be aware that change in federal guidance on enforcement actions could adversely affect TOP's ability to access private and public capital required in order to support continuing operations and its ability to operate in the U.S.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE Gabriella's Kitchen
For further information: For investment inquiries, please contact Margot Micallef, Founder & CEO or Investor Relations at [email protected] or (800) 674-2239; For media inquiries, please contact Lana Rogers, Public Relations Consultant, at [email protected] or (403) 519-7959
Related Links
https://gabriellas-kitchen.com
