VANCOUVER, Feb. 25, 2019 /CNW/ - Geyser Brands Inc. (formerly Kanzen Capital Corp.) (TSX-V: GYSR) (the "Company") announces Dr. Bin Huang, Ph.D., MBA, has agreed to join the Geyser advisory board. Dr. Huang is an experienced life sciences executive who formerly served as President and CEO of several Canadian public companies, including Emerald Health Therapeutics Inc. and Wex Pharmaceuticals Inc. Before she became a CEO, Dr. Huang worked as a top-ranked analyst at GMP Securities and was an established scientist with numerous peer-reviewed publications. Dr. Huang received her Ph.D. in Plant Cell Biology from the University of East Anglia, UK, a postdoctoral research fellowship from Purdue University (USA), an MBA from the University of Toronto and her BSc in Plant Genetics from Wuhan University, China. Geyser CEO Andreas Thatcher commented "Bin is a welcome addition to the Geyser team. With the anticipated acquisition of Solace, Bin will provide valuable advice in developing innovative products for the consumer at our licensed facility."
The Company also announces that it has changed its auditors from James Stafford, Inc. (the "Former Auditor") to Buckley Dodds LLP (the "Successor Auditor") effective February 22, 2019. At the request of the Company, the Former Auditor resigned as the auditor of the Company effective February 22, 2019 and the board of directors of the Company appointed the Successor Auditor as the Company's auditor effective February 22, 2019 until the next Annual General Meeting of the Company. There were no reservations in the Former Auditor's audit reports for the relevant period, being the financial years ended December 31, 2016 and December 31, 2017 and any period subsequent to the most recently completed financial year for which an audit report was issued and preceding the resignation of the Former Auditor. In accordance with National Instrument 51-102 – Continuous Disclosure Obligations ("NI 51-102"), the Company has filed a Change of Auditor Notice (the "Notice") on SEDAR together with letters from both the Former Auditor and Successor Auditor, with each letter confirming agreement with the statements contained in the Notice, as applicable. There were no reportable events as defined in NI 51-102 between the Former Auditor and the Company.
ABOUT GEYSER BRANDS
Geyser Brands supports healthy active lifestyles by developing and commercializing innovative cannabis, hemp, THC, and CBD infused consumer packaged goods in the nutraceutical, cosmetics, food, beverage and pet sectors. Through ongoing R&D investment in nano-fusion, a proprietary all-natural Nano-technology, Geyser will deliver unique formulations with superior bio-availability and water-solubility properties to its retail and export markets. Geyser Brands is a Health Canada approved Licensed Producer under the Cannabis Act, with its facility located in Port Coquitlam, British Columbia.
On Behalf of the Board of Directors
Director and CEO
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Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the marijuana industry in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. Accordingly, readers should not place undue reliance on the forward‐looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information relating to Geyser is available at www.sedar.com.
SOURCE Geyser Brands Inc.
For further information: 330-321 Water St., Vancouver, B.C., V6B 1B6, Tel: (604) 315-4400, www.geyserbrands.com, [email protected]