VANCOUVER, June 24, 2019 /CNW/ - Pivot Pharmaceuticals Inc. (CSE: PVOT / OTCQB: PVOTF / FRA: NPAT) ("Pivot" or the "Company") announces that it has appointed Mr. Chris Lucky as its Chief Operating Officer (COO) to strengthen its management team as it commences commercial production and sales of its superior formulated and science-based cannabis products. The Company also announces the addition of Dr. Ken Kessler and Mr. Krisztian Toth to its Board of Directors, joining Dr. Wolfgang Renz and Dr. Joseph Borovsky. Mr. Toth will serve as Executive Chairman while Dr. Patrick Frankham has stepped down from the Board of Directors and continues as Chief Executive Officer.
Chris Lucky, COO, states "I am delighted to join Pivot's executive team as the Company prepares to commercialize its product line. I believe that Pivot is well positioned to enter the cannabis market with superior products and a large portfolio of science-based and patented delivery systems that many cannabis companies do not yet have." Mr. Lucky also added "my experience with a public cannabis company in an emerging industry and extensive consumer healthcare products expertise will help Pivot accelerate its path to revenue and compete for customers with some of the cannabis industry's leading players."
Dr. Patrick Frankham, CEO, comments "The addition of Chris to the executive team will help Pivot to streamline commercialization of its CBD and THC consumer products line. With Pivot entering a phase of rapid growth of its superior formulated cannabis products and cash flow generation, the addition of Chris will have an immediate impact to our operations and supply chain. We are also extremely pleased with the addition of Ken and Krisztian to the Board of Directors."
"Pivot now operates in three key cannabis markets (Canada, California, and European Union) and we are launching product into the EU while we wait for final approval of our Standard Processor and Medical Sales License in Montreal. Our Costa Mesa, California facility is currently licensed to conduct manufacturing, distribution and sales of cannabis products and we are advancing as planned." Dr. Frankham added "The recently completed financing, the addition of elite branding experts like Joe Mimran to our Corporate Advisory Board, strengthening our Executive Leadership Team and our Board of Directors further demonstrates our commitment to scale the company as we take our place in an emerging market where no single brand has provided consumers with a consistent, reliable, or quality experience. Pivot has created the industry's largest portfolio of patented consumer cannabis products and we will provide the consistent, reliable and quality experience that consumers are demanding."
Mr. Chris Lucky, Chief Operating Officer
Mr. Lucky is a seasoned business leader with over 20 years' experience leading and managing complex businesses. He has a proven track record of delivering year-over-year improvements by designing and implementing scaleable and sustainable solutions. His experience spans across multiple industries including retail, manufacturing and distribution and has a deep understanding of organizational effectiveness and building efficient operational models that deliver consistent results. Most recently Mr. Lucky was at CannTrust Holdings Inc. as Vice President, Supply Chain & Manufacturing. Prior to that he has held executive roles at Cardinal Health as Vice President, Distributions and Loblaw Companies Ltd. as Vice President, Supply Chain. He holds an MBA from Ivey School of Business, and a BBA in accounting and financial management.
Dr. Ken Kessler, Board Member
Dr. Kessler is a board certified medical psychiatrist. He has practiced psychiatry for 10 years and specialized in psychopharmacology and treatment of drug addictions. Over his career he has held teaching appointments at Harvard Medical School and George Washington Medical School. Dr. Kessler has published peer reviewed articles and book chapters. He has successfully founded three US National Healthcare companies in managed behavioral health, disease management, and opioid substance abuse treatment.
Mr. Krisztian Toth, Executive Chairman
Mr. Toth is a Partner at Fasken Martineau, Toronto, Canada. He focuses on mergers and acquisitions and corporate finance. He is recognized by the IFR1000 for his capital markets work.
About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals Inc. is a science-based, consumer packaged goods cannabis company engaged in the development and commercialization of superior and formulated health and wellness products using innovative, patent-protected drug delivery technologies. Upon receipt of Standard Processor and Medical Sales licenses (pending) from Health Canada, Pivot's premium, bioavailable, stable and effective products will be manufactured at its 50,000-sq. ft. cGMP facility located in Montreal, Quebec. Pivot's wholly-owned U.S. subsidiary, Pivot Naturals, LLC, based in Costa Mesa, California, was granted a Provisional Annual Manufacturing License Type N: Infusion License by the California Department of Public Health in May 2019. Pivot's product line includes infused beverages, vegan capsules, dissolvable tablets, topical creams and gels, intimate lubricants, roll-on pain relievers, stick packs, and bulk powder for the edibles market. For more information please visit pivotpharma.com
Cautionary Note Regarding Forward-Looking Statements
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as anticipate, believe, estimate, expect, intend, and similar expressions, as they relate to Pivot Pharmaceuticals Inc., Pivot Green Stream Health Solutions Inc., Pivot Naturals, LLC, or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, meet the conditions imposed by the CSE or other securities regulators, the level of business and consumer spending, the amount of sales of Pivot's products, statements with respect to internal expectations, the competitive environment within the industry, the ability of Pivot to continue to expand its operations, the level of costs incurred in connection with Pivot's expansion efforts, economic conditions in the industry, and the financial strength of Pivot's customers and suppliers. Pivot does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
SOURCE Pivot Pharmaceuticals Inc.
For further information: Pivot Pharmaceuticals Inc., Patrick Frankham, PhD, MBA, Chief Executive Officer, Email: [email protected], Phone: (514) 943-1899