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SANTA ROSA, CA and CALGARY, AB / ACCESSWIRE / November 25, 2019 / GABY INC. ("GABY" or the "Company") (GABY.CN)(GABLF), a U.S.-focused CPG company operating in the regulated cannabis sector in California as well as the mainstream grocery channel nationally, today announced it has appointed Matt Bartlett to its Board of Directors, effective November 20th.
Margot Micallef, Founder & CEO of GABY said, "Merida has been a strong supporter of GABY having invested over $2 million dollars in the Company and has acted as a resource on M&A and strategy. We are honored to have Matthew Bartlett, currently an Operating Partner with Merida join our board. Matt has extensive experience in every vertical GABY operates in; from distribution, to branding, to building and financing cannabis businesses. Having Matt available to advise GABY as the company continues to grow is a unique asset, reinforcing GABY's best in class management team and board."
"As one of the largest investors in GABY we have been long term believers in the potential of this company as a leading California THC and CBD branding and distribution company," said Matthew Bartlett. "They have built a unique platform, and I'm thrilled to be a part of guiding GABY as it continues to grow."
About Matt Bartlett
Matthew Bartlett is currently an Operating Partner at Merida Capital Partners, a leading US cannabis private equity firm based in New York, NY. At Merida, he works with portfolio investment companies on operations and growth strategy implementation and new investment due diligence.
Mr. Bartlett has specialized in commercial and capital markets, agriculture finance, beverage M&A and global wine & spirits operations for the past 15 years. Prior to joining Merida, he was a founding team member of Garden Society, a boutique Sonoma County, CA based cannabis company distributed throughout California. Matthew brings extensive knowledge in brand and operations management in early-stage CPG as well as managing global logistics and supply chain for Costco's Kirkland Wine & Spirits and several multi-nationally distributed Napa, Sonoma and California premium & luxury wine brands. Prior to his roles in operations; Matthew established the Wine Division for Bank of Marin (NASDAQ:BMRC), was Vice President at American AgCredit, a part of the National Farm Credit System, and was a VP and Regional Manager in Capital Markets Finance at HSBC. He is a graduate of Cal Poly San Luis Obispo and Sonoma State University.
GABY Board members are compensated through the issuance of stock options. As such, GABY issued an aggregate 300,000 options to two new board members. As previously announced Charles Mannix was appointed to the board on November 13, 2019. He and Mathew Bartlett were both granted 150,000 stock options at a price of $0.1250 on November 20, 2019.
Both option issuances have vesting provisions of 1/3 upon grant, 1/3 on the first anniversary of the initial grant, and 1/3 on the second anniversary of the initial grant, with an expiry date of 5 years from the date of grant.
About GABY INC.
GABY is a U.S.-focused, consumer packaged goods company operating a family of brands in the cannabis industry and in the mainstream grocery channel. Through its subsidiaries GABY indirectly holds a number of licenses and permits issued by the California Department of Health, the California Bureau of Cannabis Control and the County of Sonoma respectively, including manufacturing, distribution, cultivation and nursery licenses. With these licenses and permits to operate in the cannabis channel, and its existing infrastructure of major retailers and an extensive broker and distribution network in the mainstream channel, GABY has successfully brought a number of its proprietary, acquired and third-party brands to market in both the licensed and mainstream market.
Margot and her sister Gabriella co-founded GABY after Gabriella received a dire cancer diagnosis which spurred the sisters to prolong Gabriella's life through a holistic approach to health. Today, GABY is a wellness company with a diverse range of products that use cannabis, hemp and hemp derived cannabinoids to address a variety of dietary and health concerns. Although Gabriella ultimately passed away from her illness, she lived exponentially longer than doctors predicted. Her memory and passion live on through GABY's mission: to empower people to live healthy lives without compromise.
GABY's shares trade on the CSE under the symbol "GABY" and on the OTCQB under the symbol "GABLF". For more information, visit www.GABYInc.com
For further inquiries, please contact:
Margot Micallef, Founder & CEO or Investor Relations at IR@GABYINC.com or:
Mark Kuindersma, CFA
LodeRock Advisors Inc.
Colin Trethewey, APR
Disclaimer and Forward-Looking Information
The CSE does not accept responsibility for the adequacy or accuracy of this release. Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as "plan," "continue," "expect," "project," "intend," "believe," "anticipate," "estimate," "may," "will," "potential," "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward looking statements include, but are not limited to, the anticipated closing of additional acquisitions by the Company, the continued growth and expansion of the Company's operations, and the receipt of regulatory approvals, including the approval of the CSE. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Each of KJM Data and Research Inc., and Sonoma Pacific are subsidiaries of GABY. Each of these subsidiaries hold cannabis licenses in the State of California. Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale and possession of medical cannabis under the Cannabis Act (Federal), readers are cautioned that in the United States ("U.S."), cannabis is largely regulated at the State level. Cannabis is legal in the State of California however cannabis remains illegal under U.S. federal laws. Notwithstanding the permissive regulatory environment of cannabis at the State level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and 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. To the knowledge of the Company, the businesses operated by each of GABY's subsidiaries are conducted in a manner consistent with the State law of California and are in compliance with regulatory and licensing requirements applicable in the State of California. However, readers should be aware that strict compliance with State laws with respect to cannabis will neither absolve GABY, or its subsidiaries of liability under U.S. federal law, nor will it provide a defense to any federal proceeding in the U.S. which could be brought against any of GABY, or its subsidiaries. Any such proceedings brought against GABY, or its subsidiaries may materially adversely affect the Company's operations and financial performance generally in the U.S. market specifically.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: GABY Inc.
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