MPXI APPOINTS NEW CHIEF FINANCIAL OFFICER
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TORONTO, ONTARIO, October 19, 2020 – MPX International Corporation (“MPX International”, “MPXI” or the “Corporation”) (CSE: MPXI, OTC:MPXOF) is pleased to announce the appointment of Jeremy Blumer as the Corporation’s new Chief Financial Officer, effective October 16, 2020, subject to regulatory approval.
Mr. Blumer brings over 25 years of financial experience with both public and private companies to the Corporation, including in the cannabis industry as CFO with Quality Green Inc. a cannabis license holder based in Ontario and Wayland Group Corp. (formerly Maricann Group Inc.) which controlled a multinational group of cannabis companies. Mr. Blumer was also the Senior Director and Head of Accounting at Blackberry and held senior finance positions with Certicom, Ontario Ambulance Services Co and Pilot Insurance.
Mr. Blumer is a Chartered Professional Accountant and holds an Honours Bachelor of Commerce degree in Accounting and Finance from Queen’s University.
“I would like to thank Jonathan Chu, on behalf of the Board, for his incredible service as Interim Chief Financial Officer over the past few months,” said W. Scott Boyes, Chairman, President and CEO of MPXI. “Jon will re-assume his role as Vice-President, Finance & Accounting and will continue to provide invaluable support to our organization. I am also very pleased that Jeremy is joining the MPXI management team and I believe his financial experience, both within the domestic and international cannabis industry, will be a tremendous asset as MPXI continues to grow.”
Concurrently with his appointment, MPXI will grant Mr. Blumer a total of 500,000 stock options to purchase common shares of the Corporation, the first 250,000 at an exercise price of $0.25 per share, vesting on the first anniversary of his employment with MPXI and the second 250,000 options at an exercise price of $0.35 per share vesting on the second anniversary of his employment. The grant is subject to regulatory approval.
Under the Corporation’s stock option plan (the “Plan”), 2.92% of the issued and outstanding common shares or 4,142,180 common shares are reserved for issuance, including the above grant, and the Corporation may grant an additional 10,024,842 options under the Plan representing 7.08% of the issued and outstanding common shares.
About MPX International Corporation
MPX International Corporation is a multinational diversified cannabis company focused on developing and operating assets across the international cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient. With current operations spanning four continents in Canada, Switzerland, South Africa, Malta and Australia as well as evolving partnership and distribution opportunities in other jurisdictions, MPXI continues to position itself as an emergent global participant in the cannabis industry.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, MPX International’s objectives and intentions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; the Corporation’s ability to effectively deal with the restrictions, limitations and health issues presented by the COVID-19 pandemic; future cannabis pricing; cannabis cultivation yields; costs of inputs; its ability to market products successfully to its anticipated clients; reliance on key personnel and contracted relationships with third parties; the regulatory environment in Australia, Canada, Malta, South Africa, Switzerland and other international jurisdictions; the application of federal, state, provincial, county and municipal laws; and the impact of increasing competition; those additional risks set out in MPX International’s public documents filed on SEDAR at www.sedar.com, including its audited annual consolidated financial statements for the financial years ended September 30, 2019 and 2018, its unaudited interim condensed consolidated financial statements for the three and six months ended March 31, 2020 and the corresponding annual management’s discussion and analysis; and other matters discussed in this news release. Although MPX International believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, MPX International disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
MPX International Corporation
W. Scott Boyes, Chairman, President and CEO
Released October 19, 2020