Zenabis Stock Surges After Appointing Eric Rasmussen as CFO

Zenabis stock

Zenabis stock is gaining momentum this morning after Zenabis Global (TSX:ZENA) (OTCPK:ZBISF) announced the appointment of Eric Rasmussen as its Chief Financial Officer (CFO).

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The cannabis industry has gone through a lot of hardship over the course of the past year, and many of the best-known companies in the sector have struggled in their own ways. In a new development, well-known Canadian cannabis firm Zenabis Global has announced that Eric Rasmussen has been appointed as its Chief Financial Officer.

Rasmussen is going to step into the shoes of Mike Smyth, who is retiring. Rasmussen is a highly experienced executive, who has worked in senior positions in numerous publicly traded companies. He is also highly experienced in both corporate and operations finance.

The Chief Executive Officer of Zenabis, Kevin Croft, said of the appointment: "His deep and varied experience across the entire finance function – from accounting, reporting, control, costing and audit to large-scale investment, integration, and joint venture projects – makes him well-suited to contribute to Zenabis' business goals in 2020 and beyond.”

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Zenabis stock is up about 7% at $0.142 USD.

Croft went on to thank the outgoing CFO Mike Smyth for his contributions towards the company as well. Rasmussen holds a degree in international finance from the prestigious University of London.

The past few weeks have not been particularly great for Zenabis Global, as details emerged about a setback in its plans to expand into Europe. In early December, it emerged that the company failed an important certification by the European Union for one of its facilities. As everyone knows, Europe is looked upon as a very important and growing market, which is why many of the leading companies are setting up facilities there.

Zenabis failed to get the certification in December 2018, and the details were revealed by the regulatory authorities in Malta. The certification in question is the GMP Certification, and it is generally regarded as the highest standard of certification for a cannabis company that wants to operate in the European Union.

Zenabis stock is currently the worst performer in the pot sector, with a fall of over 97% over the past year.

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