And Amendment to News Release of February 17, 2017
Symbol: TSX.V – HEMP
VANCOUVER, Feb. 27, 2017 /CNW/ - Hempco Food and Fiber Inc.
(TSXV: HEMP) ("Hempco®") is pleased to announce a change of its
Chief Financial Officer ("CFO") and the new directors appointed in
connection with the Company's annual general meeting of
shareholders held on February 23,
2017 (the "AGM").
Further to its news release of February
17, 2017, Hempco® advises that the resignation of
Praveen Varshney from the Hempco
board of directors (the "Board") and as CFO, and of the appointment
of John Ross as the new CFO, were
effective following the AGM on February 23,
2017, rather than on February 17,
2017 as previously announced.
"I am extremely grateful to Praveen for his support and
mentorship taking our small family business – into the "big time"
of the public market and funding the incredible growth we have
experienced over the last 1 ½ years. Praveen's capacity as CFO
was more of an "external participation", and with all our growth
and financial ability and needs, we are especially grateful for
Praveen's help in identifying a successor and passing the torch to
John Ross – our new CFO with a more
"internal" hands on focus," said Hempco's Chief Executive Officer,
Charles Holmes.
At the AGM, Hempco's first as a publicly traded
company, Hempco's shareholders elected each of the individuals set
out below to the Board (in addition to Mr. Varshney who resigned
following the AGM). Lorne Gerntner did not stand for re-election at
the AGM, but will continue to serve as a consultant to the Company.
Additional biographical information with respect to the directors
elected at the AGM is included in Hempco's information circular for
the AGM, which is available on SEDAR.
Charles Holmes – CEO and
founder. Continues to guide Hempco® as a pioneer and leader in the
hemp industry.
Angela Holmes – COO and founder. Continues to manage
operations and the office team. Angela will also be serving on the
audit committee.
Don Mosher – Don was also
appointed as VP Capital Markets following the AGM. He has over 30
years experience in the public market in the areas of funding,
business development and strategic alliances.
Mary-Lynn Bellamy-Wilms –
Mary-Lynn has a background in the areas of branding, marketing and
image. She will also be serving on the audit committee.
Joel Watson – CPA, CA,
with a background in accounting and finance. Joel will also be
serving on the audit committee.
James Longshore – B.A.,
has over 25 years experience working with public companies in the
resource sector with a focus on the areas of strategic alliances,
funding and business development.
Hempco® is honoured to be working with such a committed and
skilled team of leaders in their fields.
In connection with the new director and officer appointments,
James Longshore and Joel Watson were granted 150,000 options and
John Ross was granted 100,000
options. Each of these options is exercisable into one common share
in the capital of Hempco at a price of $0.62 per share until February 23, 2022.
ON BEHALF OF THE BOARD
"Charles
Holmes"
Charles Holmes
Chief Executive Officer
HEMPCO FOOD AND FIBER
INC.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Hempco Food and Fiber Inc.