TORONTO, Oct. 17, 2019 (GLOBE NEWSWIRE) — North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company”) is pleased to announce the appointment of Sean Homuth as Acting Chief Financial Officer (CFO), effective today. Mr. Homuth’s permanent role as CFO will commence upon receiving Health Canada security clearance required for all Officers and Directors of the Company.
“As NORTHBUD expands its presence into the USA with the anticipated closing of its previously announced letters of intent with the Qlora Group (California) and Nevada Botanical Science (Nevada), we are strategically adding additional expertise in international business and finance,” said Ryan Brown, CEO of North Bud Farms Inc.
Mr. Homuth brings extensive experience with both Canadian and U.S. publicly traded organizations both in industry as well as from a client perspective during his tenure at Ernst & Young and, more recently, as an independent consultant. Previously, Mr. Homuth was Chief Financial Officer at Orezone Gold Corporation (and Vice President, Finance and Administration for its predecessor company, Orezone Resources Inc.) a publicly listed company headquartered in Canada with operations in West Africa. At Orezone Mr. Homuth led a global team of finance professionals and was involved in over $800 million in financings and M&A transactions with the company and its predecessor. Mr. Homuth holds accounting designations in both Canada (CPA, CA) and the United States (CPA – Illinois).
“We are pleased to welcome Sean to our dynamic team as NORTHBUD expands its footprint into the USA,” stated Ryan Brown, CEO of North Bud Farms Inc. “Sean brings specialty experience in accounting and finance for international companies as well as a profound knowledge of capital markets, having worked with and advised many public companies over the years. He joins NORTHBUD at an exciting time in its development as his leadership and experience will be essential in executing our strategic plan and taking the company to its next level of growth.”
Brendan Stutt, the Company’s incumbent CFO, who has made invaluable contributions to the Company’s financial leadership and culture, will work to ensure a smooth transition and will remain with the Company in a non-executive role.
Mr. Brown stated: “We would like to thank Brendan for his contributions to the Company, in particular the successful listing of NORTHBUD on the Canadian Securities Exchange.”
About North Bud Farms Inc.
North Bud Farms Inc., through its wholly owned subsidiary GrowPros MMP Inc., is pursuing a licence under The Cannabis Act. The Company has built a state-of-the-art purpose-built cannabis production facility located on 135 acres of Agricultural Land in Low, Quebec, Canada. NORTHBUD through its wholly owned U.S. subsidiary, Bonfire Brands USA has entered into agreements to acquire assets in California and Nevada.
For more information visit: www.northbud.com
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Certain statements and information included in this press release that, to the extent they are not historical fact, constitute forward-looking information or statements (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. Forward-looking statements, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. This press release contains forward- looking statements including those relating to the entering into of the Definitive Agreement and closing of the Transaction with the Qlora Group and Nevada Botanical Science. Forward-looking statements are based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the risk factors included in the Company’s final long form prospectus dated August 21, 2018, which is available under the Company’s SEDAR profile at www.sedar.com. Accordingly, readers should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking statements to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
North Bud Farms Inc.
VP, IR & Communications
Office: (855) 628-3420 ext. 3