MONTREAL, April 8, 2019 /CNW/ - Cannara Biotech ("Cannara" or the "Company") (CSE: LOVE FRA: 8CB), an emerging vertically integrated cannabis company focused on cultivation and cannabis-infused products, today announced the appointment of Jack Kay as a Director on Cannara's Board, effective immediately. Mr. Kay is generally recognized as one of Canada's leading pharmaceutical executives, having held senior positions in a number of firms, including CEO of Apotex.
"A strong and independent board is not only vital for a successful public company, it can serve as a competitive advantage in the battlefield of commerce and growth," said Zohar Krivorot, President and CEO of Cannara Biotech. "We are thrilled to welcome Jack to Cannara, all of us are excited to learn from his insights and leadership. Jack's track record of developing new products, launching them in Canada and elsewhere, nurturing global partnerships and spearheading a 10,000-person organization speaks for itself."
"Like many Canadians, I'm both intrigued and excited about the prospects of cannabis to make a positive difference in the health and wellbeing of patients and non-patients alike," said Jack Kay. "I look forward to having a more engaged role in this emerging sector, especially so with a company that has a compelling business plan and the commensurate resources to execute."
Mr. Jack Kay, for 35 years, held various roles at Apotex Inc., including Chief Executive Officer, Chief Operating officer, President and Vice Chairman. He has 50 years' experience in pharmaceutical management and sales. Mr. Kay has served on a number of pharmaceutical and biotech boards, including as the Chairman of Helix Biopharma Corp and Cangene Corp, and a director at Barr Pharmaceuticals Inc. He has also served in senior capacities for a number of industry and community organizations, including as the Chairman of Humber River Regional Hospital (Toronto), the International Schizophrenic Society, the Canadian Drug Manufacturers Association, the Canadian Schizophrenia Foundation and the Canadian Generic Pharmaceutical Association. Mr. Kay has degrees from both from the University of Manitoba and McGill University.
About Cannara Biotech Cannara Biotech (CSE:LOVE) is building one of the largest indoor cannabis cultivation facilities (625,000 square feet) in Canada and the largest in Quebec. Leveraging Quebec's low electricity costs, Cannara Biotech's facility will produce high-grade indoor cannabis and cannabis-infused products for the Canadian and international markets.
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This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.