TORONTO, Sept. 28, 2018 (GLOBE NEWSWIRE) -- Peter Liabotis, a veteran senior corporate finance executive and certified public accountant, has been appointed Chief Financial Officer of Scythian Biosciences Corp. (the "Company" or “Scythian”) (CSE:SCYB) (Frankfurt:9SB) (OTC – Nasdaq Intl: SCCYF), a company that invests in leading cultivation, distribution and retail operators in the U.S. cannabis industry.

Mr. Liabotis’ 20+ years of experience includes serving as a Chief Financial Officer with both U.S. and Canadian public companies across several industries.

“Peter brings expertise in complex financial issues to Scythian as we embark on building out a portfolio of blue-chip cannabis companies across the United States,” Scythian CEO Rob Reid said. “He is an accomplished financial strategist with exceptional analytical and transactional skills who communicates effectively with stock exchanges, regulators, bankers and other key stakeholders. Peter is the perfect complement to the existing management team as we push forward to execute our aggressive business plan.”

Prior to joining Scythian, Mr. Liabotis was Chief Financial Officer of a publicly-traded Toronto merchant bank which invested in equity, debt and convertible debt in early and growth-stage public and private companies.

Mr. Liabotis also previously served in senior finance executive roles with four junior mining Canadian and U.S. public companies. Prior to that, he was financial controller for a private wealth manager, and group Chief Financial Officer/Senior Vice President of a global offshore hedge-fund administrator. Peter started his career in public accounting working for both PricewaterhouseCoopers in Bermuda and KPMG in Canada.

Mr. Liabotis is a chartered professional accountant and holds a Bachelor of Commerce degree from the University of Windsor, Ontario, and a Bachelor of Arts degree from Western University in London, Ontario.

In connection with Mr. Liabotis’ appointment, the Company has granted him 255,000 stock options pursuant to the Company’s stock option plan and 11,765 deferred share units pursuant to the Company’s deferred share unit plan. Each stock option is exercisable for one common share in the capital of the Company at an exercise price of $4.25 per share for a period of five years from the grant date. One third of the stock options will vest immediately upon the grant date, an additional one third will vest upon the first anniversary of the grant date and the remaining one third will vest upon the second anniversary of the grant date.

Mr. Liabotis will be replacing Mr. Jonathan Held who will be stepping down from his current position of Chief Financial Officer.  The board of directors and management expresses its appreciation to Mr. Held for his significant contributions that he has made to date, and wishes him success in his future endeavors.

About Scythian Biosciences Corp.

Scythian is an international cannabis company with a focus on legal U.S. states. Its strategic investments and partnerships across cultivation, distribution and retail complement the company’s R&D program with the University of Miami. It is this comprehensive approach that is positioning Scythian as a future frontrunner in the United States medical cannabis industry.

CONTACT INFORMATION

Scythian Biosciences Corp.
Rob Reid, CEO
Phone: (212) 729-9208
Email: info@scythianbio.com

For media inquiries, please contact:
David Schull or Nic Johnson
Russo Partners
(858) 717-2310
david.schull@russopartnersllc.com
nic.johnson@russopartnersllc.com