MIAMI, Dec. 30, 2019 (GLOBE NEWSWIRE) -- Bhang Inc. (CSE: BHNG) (OTCQX: BHNGF), a global cannabis CPG brand company with an extensive, award-winning portfolio of products, announced today that Daniel Nauth has been appointed interim Chair of its Board of Directors effective immediately.
Mr. Nauth currently serves as an independent member of Bhang’s board and is a member of both the audit and compensation committees. Mr. Nauth is an attorney with a practice focused on U.S.-Canada cross-border capital markets and M&A transactions. Over the past 14 years, Daniel has acted as a trusted legal advisor to Canadian, US and foreign companies with a strong track record of creating shareholder value. Mr. Nauth specializes in cross-border M&A, capital markets, corporate governance and regulatory compliance. He has served as a Director on Bhang’s Board since July of 2019.
"Daniel’s contributions as a Board member have been extremely valuable and I am confident that Daniel will continue to add value as we accelerate our work to become a dominant cannabis CPG company,” said Jamie Pearson, Bhang’s President & CEO.
"It is a privilege to serve as Bhang’s new interim Chair of the Board," said Nauth. "Bhang has grown considerably over the last few quarters and I look forward to continuing to work with Jamie and Bhang’s leadership team to maintain our momentum and position the company on a path of sustainable profitability."
Bhang would like to thank Scott Van Rixel for his role as Chair of the Board over the past year. Mr. Van Rixel will remain as a Director on the Board and will continue to provide his expertise as the new Head of Business Development for the Company, working to cultivate and scale Bhang’s global presence. “It’s been an honor to serve as board chair over the last year, and I’m confident in our future as we continue to grow and deliver strong value to our customers, employees and shareholders,” said Van Rixel.
Share Issuance
Bhang also announced today that the Company has issued a total of 505,082 subordinate voting shares at a price of $0.145 per share to certain service providers of the Company as compensation for services rendered. The above-mentioned shares are subject to a four month hold period expiring on May 1, 2020.
About Bhang
Bhang is committed to delivering exceptional sensory experiences to consumers at every point in their cannabis journey through its award-winning portfolio of brands. Bhang is a trusted global cannabis company with an extensive portfolio of over 100 cannabis, hemp-derived CBD and terpene products, including chocolates, pre-rolls, gums, and beverages through its wholly-owned Red Ace Organics division, among others. Since 2010, Bhang has mastered the art of harnessing mutually-beneficial partnerships to bring safe, consistent and delicious products to the world. Learn more at www.bhangnation.com and purchase our award-winning CBD products at http://www.bhangcbd.com/.
