KELOWNA, BRITISH COLUMBIA – January 14, 2020 – Citation Growth Corp. (CSE: CGRO) (OTCQX: CGOTF) (“Citation” or the “Company”), a licensed cannabis cultivator and producer, announces today that Howard Misle has resigned as Chief Executive Officer and a Board Member effective January 13, 2020. The Board of Directors has already begun interviewing prospective CEO candidates and expects to make an announcement shortly. In the interim, Mr. Rahim Mohamed will be the interim CEO.
The Company is also pleased to announce that it has appointed Mr. Kevin Cornish as its Chief Financial Officer effectively immediately.
Mr. Cornish has roots all over Eastern Canada, spending most of his life in Halifax Nova Scotia where he completed his education at Saint Mary’s University. He has worked in the service, hospitality, construction and cannabis industries over the course of his career. His expertise is focused in leadership, performance management, company growth and finance. He has experience sitting on the boards of both not for profit and for profit companies, volunteered with child development groups and is an advocate for mental health. Mr. Cornish has helped start up and mature companies grow in current and new markets. In 2018 he joined the cannabis industry due to having seen many people he knows positively affected by THC and CBD. Taking part in Canada’s history, Mr. Cornish was part of a Cannabis company that brought recreational Cannabis to Alberta and Canada. Mr. Cornish enjoys the many challenges that come with working in this industry leading up to legalization, post legalization and cannabis 2.0. With over 15 years of leadership experience in operations and finance, Mr. Cornish continues to grow along with this industry both personally and professionally.
Due to this change in management, the company has deemed it necessary to postpone its AGM scheduled for January 24, 2020 in Las Vegas Nevada to allow for an updated Management Information Circular to be filed and circulated to shareholders. Once a new date and location has been scheduled, management will issue out a News Release.
“We, the management and board, apologize for any inconvenience this may have caused any shareholders who may have already booked flights and hotels. We will be diligent and begin placing a new CEO as soon as possible” quoted Rahim Mohamed, President and Interim CEO.
About Citation Growth Corp.
Citation Growth Corp. is a publicly traded company that has been investing in the medical and recreational cannabis space since 2014. Citation has rapidly expanded its operating portfolio to include cultivation, production, and dispensary locations in key North American state-legal jurisdictions and is seeking expansion opportunities worldwide.
For Further Information:
Rahim Mohamed, President
1-877-438-5448 Extension 718
Paul Searle, Corporate Communications
1-877-438-5448 Extension 714
Citation trades in Canada, under the ticker symbol “CGRO” on the CSE, and in the U.S., under the ticker symbol “CGOTF” on the OTCQX Best Market (the “OTCQX”). The Company also trades on other recognized platforms in Europe including Frankfurt, Stuttgart, Tradegate, L & S, Quotnx, Dusseldorf, Munich, and Berlin.
Neither the CSE nor its Regulation Services Provider, nor the OTCQX has approved nor disapproved the contents of this press release. Neither the CSE, nor the OTCQX accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements that relate to our current expectations and views of future events. These statements relate to future events or future performance. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate”, “become”, “objective”, “may”, “will”, “might”, “should”, “could”, “can”, “intend”, “expect”, “believe”, “estimate”, “predict”, “potential”, “plan”, “is designed to”, “project”, “continue”, or similar expressions suggest future outcomes or the negative thereof or similar variations. Forward-looking statements may also include, among other things, statements about the Company’s: future business strategy; operations and growth strategies; expectations of obtaining licenses and permits; expectations regarding expenses, sales and operations; future customer concentration; anticipated cash needs and estimates regarding capital requirements and the need for additional financing; ability to raise future financing; completion of all proposed site phases; the ability to expand into other states; expectations of operational efficiencies; total processing capacity; the ability to anticipate the future needs of customers; plans for future products and enhancements of existing products; future growth strategy and growth rate; future intellectual property; regulatory approvals and other matters; and anticipated trends and challenges in the markets in which the Company may operate.
Such forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: business, economic and capital market conditions; the ability to manage the Company’s operating expenses, which may adversely affect the Company’s financial condition; the Company’s ability to remain competitive; regulatory uncertainties;
market conditions and the demand and pricing for our products; exchange rate fluctuations; security threats; the Company’s relationships with its customers, distributors and business partners; the Company’s ability to attract, retain and motivate qualified personnel; industry competition; the impact of technology changes on the Company’s products and industry; the Company’s ability to successfully maintain and enforce its intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of litigation that could materially and adversely affect our business; the Company’s ability to manage its working capital; and the Company’s dependence on key personnel. The Company is not a positive cash flow company and it may not actually achieve its plans, projections, or expectations (the Company has a history of losses).
Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release.