Chemistree appoints Nico Escondido to Board of Directors
- HIGH TIMES OWNER & CHIEF CANNABIS OFFICER
- FOUNDER OF THE CANNABIS GENETICS INSTITUTE
- LEADING INDUSTRY RESEARCHER & EDUCATOR
VANCOUVER, April 9, 2019 /CNW/ - Chemistree Technology Inc. (CSE: CHM) (US OTCQB: CHMJF) (the "Company" or "Chemistree"), is pleased to announce the appointment of Mr. Nicholas J. Zitelli to its Board of Directors.
Mr. Zitelli is currently part-owner, Director, and Chief Cannabis Officer of Trans High Corporation (THC), the parent company for all HIGH TIMES brands, including its 45-year old flagship magazine, as well as all related media and event platforms, including the iconic Cannabis Cup. Since 2007, Mr. Zitelli has authored hundreds of articles covering all aspects of cannabis science and technology under the penname of "Nico Escondido". In this capacity, Mr. Zitelli has garnered a reputation as an industry expert in the areas of cultivation, genetics, garden technologies, lab testing, and regulatory and compliance measures. This has led to numerous appointments as a state-hired agent for committee, legislation, and policy consultation in numerous jurisdictions across North America and the European Union.
Mr. Zitelli is also the founder and CEO of the Cannabis Genetics Institute (CGI). Founded in Amsterdam, Holland in 2014, CGI is a well-established research and development institute with a mission that focuses on the breeding of customized medicinal strains of cannabis that are ailment-specific as well as patient and physician education in these areas. Through its partnerships with Steep Hill Labs in Berkeley, CA (the first legal cannabis testing lab in the US), as well as the Nolan Kane Laboratory's Cannabis Genomics Initiative at the University of Colorado, Boulder, CGI has been able to use marker-assisted breeding techniques, DNA sequencing, and the procurement of pure landrace genetics to explore and recreate much of the cannabis gene pool that has gone stagnant due to the modern era of feminized genetics. CGI currently conducts most of its R&D in Colorado and Northern California where Mr. Zitelli is a partner at Conscious Vitality Corp., whose medically and recreationally licensed facilities in the Bay area are home to a majority of CGI's research gardens.
Most recently, Mr. Zitelli was named CEO of the newly formed entity Applied Cannabis Sciences, LLC, whose primary charge is the acquisition and operation of vertically integrated medical marijuana licenses along the Eastern seaboard of the U.S. with ongoing projects in New Jersey, New York, and Massachusetts.
During his tenure at HIGH TIMES, Mr. Zitelli also served as Competition Director for High Times' ground-breaking Cannabis Cup event, successfully bringing it into the 21st century by digitizing the platform and creating a proprietary scoring algorithm for cannabis products that included both patient-driven qualitative criteria as well as lab-derived quantitative data. As such Mr. Zitelli owns and controls the world's largest known cannabis database, containing over 30,000 cannabis strains and products that includes crucial information on product efficacy, cannabinoid levels, terpene profiles, and complete information about how each product was grown and / or manufactured.
Through his partnerships, as well as his research and development initiatives, Mr. Zitelli has consulted for cannabis companies around the world, including in Holland, Spain, Canada, Jamaica, and the US, with specialized work in genetic development/ breeding programs, lab testing, and cultivation technologies. He has lectured at institutions around the world on the technical and scientific issues surrounding cannabis as an expert in genetics, plant sciences and photobiology, including John Hopkins University, the University of Colorado, and the Hebrew University of Jerusalem. Late last year, Mr. Zitelli was appointed to the Board of Directors of the New Jersey CannaBusiness Association (NJCBA), where he is tasked with aiding in the development of industry labor forces and educational programs with locally based universities.
Karl Kottmeier, Chemistree's President, stated,
I am very excited to welcome Mr. Zitelli to Chemistree. These are exciting times for the Company and Mr. Zitelli will be a truly outstanding addition to our Board of Directors. Nico has a rare combination of serious passion for the plant combined with deep expertise. His worldwide network throughout the professional cannabis community, in addition to his excellent reputation, will unquestionably be invaluable assets to our Company's continued growth.
I have worked extensively with many members of the Company's management team, Board, and consultants in my career and I believe this team has built one of the most attractive and compelling platforms in the cannabis industry today,
said Mr. Zitelli.
Chemistree has carefully and strategically built an ideal team and structure to thrive in this market, and I appreciate the opportunity to support Chemistree through the Company's planned expansion, particularly in the US market, and help it to define the future of the cannabis industry. Furthermore, I would like to add that it is refreshing to see a group endeavor to build a public company in the correct manner, taking the time to do things correctly and not cutting corners simply to get to money. I am proud to join this team to help set a proper example for the industry, in regards to serving patients and investors alike, in a manner we can take pride in.
Chemistree Technology Inc. is an investment company dedicated to the U.S. cannabis sector, endeavoring to provide turn-key solutions for the regulated cannabis industry. The Company's corporate strategy is to acquire and develop vertically integrated cannabis assets, leveraging management's decades of expertise in the cannabis industry and corporate finance to own and operate licensed cultivation, processing, distribution and retail facilities. The Company currently owns assets in Washington State used to operate the Sugarleaf brand, prospective cannabis cultivation lands in California, a 50% interest in a Humboldt County, California cannabis processing company, has completed its first investment in the Canadian cannabis sector through its investment in Pasha Brands and has a pipeline of assets to grow its base of business. For more information, visit www.Chemistree.ca.
The Company wishes to inform shareholders that there are significant legal restrictions and regulations that govern the cannabis industry in both Canada and the United States.
Cannabis-related Practices or Activities are Illegal Under U.S. Federal Laws
The concepts of "medical cannabis" and "recreational cannabis" do not exist under U.S. federal law. The Federal Controlled Substances Act classifies "marihuana" as a Schedule I drug. Under U.S. federal law, a Schedule I drug or substance has a high potential for abuse, no accepted medical use in the United States, and a lack of safety for the use of the drug under medical supervision. As such, cannabis related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. Strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under U.S. federal law, nor will it provide a defence to any federal proceeding which may be brought against the Company. Enforcement of U.S. federal laws will be a significant risk to the business of the Company and any such proceedings brought against the Company may adversely affect the Company's operations and financial performance.
Further information regarding the legal status of cannabis related activities and associated risk factors, including, but not limited to, risk of enforcement actions, risks that third-party service providers, such as banking or financial institutions cease providing services to the Company, and the risk that Company may not be able to distribute profits, if any, from U.S. operations up to the Company, are included in the preliminary short form prospectus of the Company filed in respect of the Offering, the Company's annual information form and other documents incorporated by reference therein and in the Company's Form 2A listing statement filed with the CSE and available under the Company's profile on SEDAR at www.sedar.com.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Information set forth in this news release includes forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", "budget", "scheduled" and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation, statements about adding clients, building on the Company's initial product offerings, entry into of definitive agreements.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the Company's reports and filings with the applicable Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.