VANCOUVER, April 11, 2019 /CNW/ - Chemistree Technology Inc. (CSE: CHM and CHM.wt) (US OTCQB: CHMJF) (the "Company" or "Chemistree"), is pleased to announce the appointment of Mr. Sheldon Aberman to the newly-created position of Chief Cannabis Officer. This addition will further strengthen its team and advance the Company's international expansion strategy, cultivation practices and results in terms of yield, quality, consistency and cost-effectiveness as it continues to execute across these areas and solidify its position as a world leader within the industry.
Mr. Aberman has a well-earned reputation as one of the world's foremost experts on commercial cannabis cultivation with decades of experience managing and designing thousands of grows worldwide. His expertise, hands on approach and product development background has led to top quality grow room design and construction. Additionally, he has created several multi-million-dollar industry partnerships and other ventures, such as Quantum Horticulture, Pure Essentials Black Label and Cannabis Consulting Co. whose various products and services have been implemented, utilized and run in thousands of grows globally.
"Sheldon is not only a Chemistree Director, but also one of the founders of Chemistree. He has been integral to the Company, overseeing our investment in Washington State, the expansion of our Sugarleaf brand, and the successful receipt of the Conditional Use Permit for the now underway development of 128,000 sq. ft. of canopy and 40,000 sq. ft. of manufacturing and distribution in Desert Hot Springs, California." stated Karl Kottmeier, Chemistree's President. "We are thrilled to have him in this new position of Chief Cannabis Officer, joining our team of experts that can execute across our growing portfolio of assets, focused on turning ideas into revenues." Mr. Kottmeier continued, "Sheldon is a world-renowned leader in the cannabis sector. He has tremendous experience and an unrivalled contact list across the international cannabis community. With this appointment we are even better positioned to continue to build and optimize existing business and expand our operations across the United States and ultimately to international markets. Sheldon has delivered and proven time and again that he is exceptionally well suited to lead this function."
Over the last 17 years, Mr. Aberman has designed, consulted, constructed hundreds of facilities and projects all around the globe, including Arizona, California, Colorado, Washington, Oregon, Michigan, Nevada, Canada and Spain. He is still retained as lead advisor/consultant for multiple licensed grows. With expertise in greenhouse and indoor cultivation, Mr. Aberman is well known for his commercial automated integration and proven track record of highly efficient redundant designs. He currently continues to oversee Cannabis Consulting Co., consulting to large scale grows in the US and Canada, and thereby keeping his finger firmly on the pulse of this growing industry.
In September of 2014, he joined Canadian Cannabis Corporation as their CCO in charge of design, implementation and operations of their 312,000 sq. ft. cultivation center just outside of Toronto, Canada. In late 2016, he, via Cannabis Consulting, entered into a consulting agreement to design and build what would become the first licensed cultivation and processing facility in the state of Michigan, being awarded its cultivation license in July of 2018.
Prior to this, he launched his own distribution company Amerinada in 2007. Together with Amerinadas' in house brand, Quantum Horticulture, Quantum would come to be recognized as the top-quality brand of horticulture lighting products gaining national acceptance in the US and eventually expanding operations to Canada, Europe and Australia. In 2011, Amerinada merged with R&M Supply making up one of the largest manufacturers and distributors of hydroponic equipment in the US with distribution operations in 5 states with over 150 employees. In late 2013, Mr. Aberman and his business partner sold R&M supply.
Previously, he started as a sales representative in 2003 and advanced to Director of US Sales for Gotta Grow Wholesale, the exclusive US wholesaler of Advanced Nutrients, where he achieved 800% increase in revenues.
About Chemistree Technology Inc.
Chemistree Technology Inc. is an investment company dedicated to the U.S. cannabis sector, endeavoring to provide turn-key solutions for the regulated cannabis industry. The Company's corporate strategy is to acquire and develop vertically integrated cannabis assets, leveraging management's decades of expertise in the cannabis industry and corporate finance to own and operate licensed cultivation, processing, distribution and retail facilities. The Company currently owns assets in Washington State used to operate the Sugarleaf brand, prospective cannabis cultivation lands in California, a 50% interest in a Humboldt County, California cannabis processing company, has completed its first investment in the Canadian cannabis sector through its investment in Pasha Brands and has a pipeline of assets to grow its base of business. For more information, visit www.Chemistree.ca.
The Company wishes to inform shareholders that there are significant legal restrictions and regulations that govern the cannabis industry in both Canada and the United States.
Cannabis-related Practices or Activities are Illegal Under U.S. Federal Laws
The concepts of "medical cannabis" and "recreational cannabis" do not exist under U.S. federal law. The Federal Controlled Substances Act classifies "marihuana" as a Schedule I drug. Under U.S. federal law, a Schedule I drug or substance has a high potential for abuse, no accepted medical use in the United States, and a lack of safety for the use of the drug under medical supervision. As such, cannabis related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. Strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under U.S. federal law, nor will it provide a defence to any federal proceeding which may be brought against the Company. Enforcement of U.S. federal laws will be a significant risk to the business of the Company and any such proceedings brought against the Company may adversely affect the Company's operations and financial performance.
Further information regarding the legal status of cannabis related activities and associated risk factors, including, but not limited to, risk of enforcement actions, risks that third-party service providers, such as banking or financial institutions cease providing services to the Company, and the risk that Company may not be able to distribute profits, if any, from U.S. operations up to the Company, are included in the Prospectus, the Company's annual information form and other documents incorporated by reference therein and in the Company's Form 2A listing statement filed with the CSE and available under the Company's profile on SEDAR at www.sedar.com.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Information set forth in this news release includes forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", "budget", "scheduled" and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation, statements about adding clients, building on the Company's initial product offerings, entry into of definitive agreements.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the Company's reports and filings with the applicable Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.
SOURCE Chemistree Technology Inc.
For further information: Chemistree Technology Inc., Karl Kottmeier, President, Phone: 604-678-8941, Email: [email protected]; For investor relations please contact: Contact Financial Corp., Frederick Chabot, Phone: 438-863-7071, Email: [email protected]