Canadian Securities Exchange: Symbol J
VANCOUVER, April 4, 2019 /CNW/ - Lotus Ventures Inc. (the "Company" or "Lotus") (CSE: J) (Frankfurt: LV9), an Okanagan based cannabis cultivator announces the resignation of Steve Mathieson as a Director and the appointment of Simon Davie. Steve is stepping down subsequent to Lotus reaching a long-awaited milestone; the receipt of a Standard Cultivation and Medical Sales cannabis license from Health Canada. Steve has been with Lotus from the beginning and has helped through our various stages of growth. We thank Steve for his contributions to the Company and we wish him all the best.
New Director Simon Davie:
Simon Davie is a certified Project Management Professional with specialized expertise in social purpose real estate development and has been a Managing Partner of Terra Housing Consultants Ltd. since 2003. The Terra group of companies is one of Canada's most experienced development management firms having completed over 300 projects with current projects under development of approximately $600 million in asset value. Simon's applicable experience to Lotus provides insights on project and regulatory matters, as well as assistance to the company when looking for a diversity of growing partners across Canada. Lotus will continue to build out the team and expand our production facilities now that it's a licensed cannabis producer in Canada.
ON BEHALF OF THE BOARD
Lotus Ventures Inc.
Dale McClanaghan, President and CEO
About Lotus Ventures Inc.
Lotus Ventures is a licensed cannabis producer under the Cannabis Act and Cannabis Regulations, holding a Standard Cultivation and Sale for Medical Purposes license. The Company's business model combines an upstream royalty financing model with Auxly Cannabis Group Inc. and a downstream licensing model with partners utilizing Lotus intellectual property. The initial 22,500 square foot facility in Spallumcheen, B.C. is a purpose built, state of the art indoor facility with proprietary processes.
SOURCE Lotus Ventures Inc.