Canbiola Creates Fully Independent Board of Directors
Changes and Additional Appointments Satisfy a Criteria for Potential Nasdaq Listing|
HICKSVILLE, NY -- October 15, 2019 -- InvestorsHub NewsWire -- Canbiola, Inc. (OTCQB: CANB) (“Canbiola” or the “Company”), a developer, manufacturer and seller of a variety of hemp-derived THC-Free Cannabidiol (CBD) Isolate products such as oils, drops/tinctures, creams, moisturizers, chews, and capsules is pleased to announce the appointments of SenatorRon Silver, James Murphy and Alger Boyer Jr. to its Board of Directors.
Canbiola Chief Executive Officer Marco Alfonsi commented, “We are honored to have Ron, James, and Alger join our team as members of our Board of Directors. We were seeking independent Board members who share in the excitement, acceptance, and vision for CBD products. Their combined 50+ years of business experience, particularly in operations, business development and legal regulatory and governmental processes is invaluable and we look forward to their advice and guidance. Given our traction of more than 400% growth to greater than $1.1 million revenue in the first half of 2019, I believe Canbiola is on the cusp of creating significant value for its shareholders.”
Senator Ronald A. Silver was first elected to the Florida House of Representatives in 1978 and continued his tenure in that body until 1992. While in the Florida House Silver served in major positions including Majority Whip (1984-1986) and Majority Leader (1986-1988). He also chaired various committees including the Select Committee on Juvenile Justice, Criminal Justice, Ethics and Elections and the subcommittee of Appropriations on General Government. He was then elected to the Florida Senate in 1992 and subsequently re-elected, serving as the Majority (Democratic) leader for the 1994 session. During his last term in the Senate, he was designated by both the House and Senate as the Dean of the Legislature recognizing his standing as the longest-serving member. His career as a lawmaker has yielded a vast and extensive knowledge of public policy issues and the legislative process, allowing him to be an advocate and servant for his diverse community. Throughout his tenure in the House and Senate, Mr. Silver has been known to tackle tough issues, transcend partisanship and build strong coalitions and in addition served on the Judiciary Committee, which heard all condominium issues. As Senator, he served on a variety of committees and was chairman of both the Appropriations Subcommittee on Health and Human Services and Criminal Justice. His career in the Senate has earned praise from his colleagues, in both the legislature and other branches of government throughout the nation. In 1993 Mr. Silver was elected Chairman of the Southern Legislative Conference (17 Southern States) of the Council of State Governments. Most recently, a new prescription drug plan of Medicare-eligible senior citizens in the State of Florida has been named "Silver Saver" in his honor. Since his retirement from the Senate in 2002, Mr. Silver also functions as President of his own consulting firm (Ron Silver & Associates) and maintains his law practice in Miami Beach, Florida.
James F. Murphy brings more than 40 years of investigative and consulting experience as the Founder and President of Sutton Associates. From 1980 to 1984, Mr. Murphy was an Assistant Special Agent in Charge with the Federal Bureau of Investigation, responsible for a territory encompassing more than seven million people. His investigative specialties included organized crime, white-collar crime, labor racketeering, and political corruption. From 1976 to 1980, Mr. Murphy was assigned to the Office of Planning and Evaluation at FBI headquarters, Washington, D.C. In this capacity, he evaluated and recommended changes in the FBI’s administrative and investigative programs. Since entering the private sector in 1984, Mr. Murphy has advanced the industry by developing systematic and professional protocols for performing due diligence, as well as other investigative services.
Alger Boyer, Jr: President & CEO of Advance Care Medical, Inc. - Mr. Boyer has over 25 years of Wall Street experience having worked on both the investment side as well as the banking side of the business. Most recently he served as Head of Equities for the New York-based investment bank H.C. Wainwright & Co. where he had overseen efforts in capital markets, sales, and trading. Prior to that, he worked and or supervised teams at Rodman & Renshaw, Oppenheimer, Piper Jaffray, and Credit Suisse in New York, San Francisco, and Minneapolis. In his various roles, he has advised hundreds of companies in their financing efforts both publicly and privately. Mr. Boyer has numerous securities licenses and is a graduate of the University of California at Berkeley.
Additionally, Mr. Johnny J. Mack Ph.D. has resigned from his Canbiola positions of President, Chief Operating Officer and Director and Mr. Joe Hunsberger has resigned as a Director of Canbiola.
About Canbiola, Inc.
Canbiola, Inc. (OTCQB: CANB) is a vertically integrated conglomerate specializing in the manufacturing, formulation, and sale of THC-Free Cannabidiol (CBD) Isolate products such as oils, drops/tinctures, gels, creams, moisturizers, chews, and capsules. All Canbiola products are organic and Non-GMO, free of impurities and contaminants, and formulated with the finest ingredients to the highest manufacturing standards. All products are certified for purity and accuracy by third-party laboratory verification.
Canbiola pursues an aggressive growth strategy through the continual development of proprietary products and the expansion of its offerings via strategic acquisitions in the healthcare and CBD industries.
Canbiola has created several innovative CBD product lines, marketed through targeted channels including:
The Canbiola clinical line, which is marketed and promoted through healthcare practitioners in the medical setting.
The Pure Leaf Oil (consumer brand) and Seven Chakras (spa brand) lines are sold through both online and brick & mortar retail outlets.
Canbiola’s state-of-the-art manufacturing facility in Lacey, WA is operated by Pure Health Products LLC (PHP), a wholly-owned subsidiary that produces all of the Company’s CBD Isolate products, in addition to providing private label and white label solutions for companies looking to add high-quality CBD items to their offerings. Canbiola is passionate about improving people’s lives and we take pride in providing pure CBD products infused with organic and natural ingredients. We want customers to know that they are buying lab-tested, high-quality natural products at a great price.
Canbiola’s Radical Tactical LLC subsidiary produces CBD products in other forms including vapes and gums.
Duramed Inc. and Duramed NJ LLC, wholly-owned subsidiaries of Canbiola, further the mission of providing innovative products designed to improve people’s lives, aiming to reduce their use of opioid substances through the utilization of durable medical devices. This product line includes an FDA-approved wearable low-intensity ultrasound SAM (Sustained Acoustic Medicine) device delivering multi-hour treatment intended to accelerate healing, improve function for musculoskeletal injuries (muscle, tendon, ligament) and reduce chronic pain (without opioid pain medication).
With the creation of its newest wholly owned subsidiary, NY Hemp Depot LLC, Canbiola has attained complete vertical integration, allowing it to fully control the supply chain from seed to sale, develop customized products and maximize profit margins. Through the utilization of its newly acquired NY State Hemp Cultivation License, the Company contracts with farmers throughout the state of NY to cultivate specific strains of hemp, which is then processed into CBD Isolate products to Canbiola’s exacting manufacturing standards and specifications at the Company’s laboratory and production facility.
For more information about Canbiola, Inc., please visit: Canbiola.com
Forward-looking statements and risks and uncertainties discussed in this letter contain forward-looking statements. The words "anticipate," "believe," "estimate," "may," "intend," "expect," and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape or manner of our future financial condition or stock price.
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