LONDON, March 01, 2021 (GLOBE NEWSWIRE) -- Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF), the leading Canadian producer of cannabis edibles and other cannabis products, is pleased to announce that Mr. Russell Wilson has been appointed to the board of directors of the Company.
“We are very pleased to have Mr. Wilson join our board of directors. Mr. Wilson’s experience with several public company boards will provide an additional layer of oversight and governance, and his involvement in the cannabis sector will prove invaluable with respect to Indiva’s strategy going forward,” said Niel Marotta, Chief Executive Officer of Indiva Limited.
Mr. Wilson is Vice President, Business Development with W. Brett Wilson’s holding company Prairie Merchant Corporation ("PMC"), a private investment company based in Calgary, Alberta. Mr. Wilson has worked with PMC since the fall of 2016 where he manages PMC’s portfolio of cannabis and technology holdings, as well as participation in the company’s extensive and diversified holdings in real estate, power/energy, sports and agriculture. Mr. Wilson splits his time between Brisbane, Australia and Calgary, Alberta. Mr. Wilson also sits on the Board of Inner Spirit Holdings Ltd., a Canadian company that has established a national network of SpiritLeaf cannabis retail stores.
Additionally, the Company announces that its board of directors has approved a grant of options for 150,000 common shares (the "Options") to Mr. Wilson in his role as director of the Company pursuant to the Company's stock option plan. The Options have an exercise price of $0.59 per share and a term of 5 years. 50,000 Options vest immediately, 50,000 Options vest on the 12-month anniversary of the grant date and 50,000 Options vest on the 24-month anniversary of the grant date. The grant of the Options is subject to the approval of the TSX Venture Exchange.
ABOUT INDIVA
Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva creates premium pre-rolls, flower, capsules, and edible products and provides production and manufacturing services to peer entities. In Canada, Indiva produces and distributes the award-winning Bhang® Chocolate, Wana™ Sour Gummies, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, Artisan Batch, and other Powered by INDIVA™ products through license agreements and partnerships. Click here to connect with Indiva on LinkedIn, Instagram, Twitter and Facebook, and here to find more information on the Company and its products.
CONTACTS
INVESTOR CONTACT
Anthony Simone
Phone: 416-881-5154
Email: ir@indiva.com
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Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's future operations, future results, future product offerings and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to maintain the necessary regulatory and other third parties’ approvals and licensing and other risks associated with regulated entities in the cannabis industry, future sales, the demand for the Company’s products and cannabis products generally and the continued operations of the Company in the ordinary course. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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