Robert Cheney to remain on Board of Directors
VANCOUVER, July 8, 2019 /CNW/ - C21 Investments, Inc. (CSE: CXXI and OTC: CXXIF) today announced that Sonny Newman is succeeding Robert Cheney as President and Chief Executive Officer of C21 Investments effective immediately.
Sonny Newman is the Founder of Silver State Relief and Silver State Cultivation in Nevada, and has several other companies in electronics, manufacturing, electronics distribution, real estate development and an investment company. Mr. Newman was the sole owner of the Silver State companies when they were purchased by C21 Investments earlier this year and is today the largest shareholder of C21 Investments holding approximately 15.3% of the outstanding shares. Mr. Newman's proven operational and financial discipline in the cannabis and other sectors shows his ability to build solid teams and make strategic investments into opportunistic markets.
"We would like to thank Robert for his tireless efforts and visionary leadership when building this leading cannabis firm," said Sonny Newman. "We are grateful that Robert will remain on our Board of Directors and continue to provide his invaluable counsel."
In his role as President and CEO of C21 Investments, Mr. Newman has agreed that he will not be a member of the Board of Directors in recognition of his shareholder status and financial arrangements with C21 Investments.
"Sonny knows how to operate a highly successful cannabis business and we share the same vision for C21 Investments," said Robert Cheney. "Shareholders can be assured that Sonny will continue to integrate our existing businesses and aggressively grow the operations to increase shareholder value."
See news release dated July 8, 2019, issued concurrently with this news release, concerning the restructuring of the Silver State debt.
ABOUT C21 INVESTMENTS
C21 Investments is a vertically integrated cannabis company that cultivates, processes, and distributes quality cannabis and hemp-derived consumer products in the United States. The Company is focused on value creation through the disciplined acquisition and integration of core retail, manufacturing, and distribution assets in strategic markets, leveraging industry-leading retail revenues with high-growth potential multi-market branded consumer packaged goods. The Company owns Silver State Relief and Silver State Cultivation in Nevada, and Phantom Farms, Swell Companies, Eco Firma Farms, and Pure Green in Oregon. These brands produce and distribute a broad range of THC and CBD products from cannabis flowers, pre-rolls, cannabis oil, vaporizer cartridges and edibles. Based in Vancouver, Canada, additional information on C21 Investments can be found at www.sedar.com and www.cxxi.ca.
The CSE has not accepted responsibility for the adequacy or accuracy of this release.
SOURCE C21 Investments Inc.
For further information: Media contact: Graeme Harris, S2C Inc., [email protected], +1 416 402-7050; Investor contact: Dave Goad, Investor Relations, [email protected], +1 833 BUY-CXXI (289-2994); Michael Kidd, Chief Financial Officer and Director, [email protected], +1 833 BUY CXXI (289-2994)