NEW YORK, June 18, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – The Company, previously Blake Insomnia Therapeutics Inc, confirms its successful name change to BioHemp International, Inc. (BKIT) and announces the appointment of Daniel Blum as its new Chief Executive Officer, assuming his position immediately. The market ticker will change to BKITD for the following twenty working days, reverting back to BKIT after this period.
By successfully completing its name change, BioHemp International Inc has further established its position as a market leader in the CBD market, which is expected to reach $22 billion by 2022. The Company’s new rollup strategy is aimed at becoming the market leader by spearheading the natural consolidation of the industry through the creation of a distribution platform targeted at existing consumer CBD wholesalers and retailers. As the market begins to consolidate, the Company is poised to benefit from its first mover advantage.
Leading the Company in its efforts to become the top distributor of cannabidiol (CBD) products, is new CEO, Daniel Blum. Mr. Blum has a distinguished resumé and a strong background in business development with over 8 years’ experience across a variety of sectors including fintech, sales and hospitality. He leaves his role as a business development executive at Pitchbook Data where he oversaw technology covering the private capital markets, including venture capital, private equity and M&A transactions. Before that, he held positions at Salesforce and Preqin, a private equity investor intelligence company. Mr. Blum holds a Bachelor of Arts in economics from Union College. His experience in business development and M&A, and record in building and managing relationships with small companies will be an asset to the Company and play an instrumental role as the new business plan requires transactional experience.
Daniel Blum, new Chief Executive Officer at BKIT, commented “I am honored to be entrusted with this huge opportunity and excited to get to work straight away to lead the Company’s consolidation strategy in the CBD industry. This market provides tremendous opportunity not only in growth potential but also given the compelling case that there is not one true market leader. As the CBD market grows, this opportunity will only increase. I am looking forward to leading the Company’s vision to become the leading consolidator of CBD distributors, creating a force in an industry that lacks a market leader. Our first call is updating our website with all the new information linked to our new identity. There is a lot of work to be done, but there are already some opportunities that the Company can execute on in the next few weeks. I look forward to updating the shareholder community when I am able to provide an update.”
The company’s new website www.BioHempInternational.com will be completed in the coming days.
About BioHemp International, Inc.
BioHemp International (BKIT) is a Company focused on rolling up a distribution platform for CBD providers to become the leading consolidation force in the CBD industry.
Safe Harbor Notice
Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. BioHemp International, Inc undertakes no obligation to revise these statements following the date of this news release. Additional details of the Company's business can be found in its public disclosures as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.
This press release is issued on behalf of the Board of Directors of BioHemp International, Inc.
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