Mr. Starr will work closely with Krisztian Toth, the Executive Chairman of Pivot and report to the Board of Directors. Mr. Starr will lead Pivot's capital markets activities, including outreach to existing and potential shareholders in Canada and internationally. This appointment will greatly increase the Company's visibility both to institutional and retail investors. Mr. Starr also provides greater depth of management expertise in corporate finance and mergers and acquisitions.
As a successful entrepreneur with over 20 years of corporate finance, investment and business development experience, Mr. Starr left Bay Street in 2012, to take an executive position and board appointment with Cayden Resources (acquired by Agnico Eagle in 2014). While SVP and board member with Cayden Resources, Russell was integral in the marketing, financing, development and ultimate sale of Cayden for CAD$205 million to Agnico Eagle.
Russell has also held senior positions and advisory roles with financial institutions including RBC Capital Markets, Scotia Capital, Orion Securities, Blackmont, and Lawrence & Company. Russell is also a co-founder and part owner of Echelon Wealth Partners, a large Canadian investment dealer.
Russell holds an MBA from the Richard Ivey School of Business, a Master of Arts degree in Economics from the University of Victoria and a Bachelor of Arts degree in Economics from Queens University.
"This is an incredible opportunity," said Mr. Starr. "I am energized and honoured to be a part of shaping the future of consumer focused cannabis products using Pivot's innovative, patent-protected drug delivery technologies to provide consumers with the consistent science-based quality they are demanding while generating substantial cash flow generation for Pivot and its shareholders."
"I am thrilled to add Mr. Starr to our team," said Mr. Toth, Executive Chairman. "Mr. Starr brings a unique combination of deep capital market experience and well-honed strategic and business capability. The closing of our transformational financing, the addition of elite branding experts like Joe Mimran to our Corporate Advisory Board and the additions to our Executive Leadership Team as well as our Board of Directors demonstrates our commitment to scale the company as we take work to become the first cannabis company to provide consumers with a consistent, reliable and quality experience."
Pivot also announces that Russell Starr has also been appointed as interim Chief Executive Officer of Pivot replacing the prior Chief Executive Officer, Patrick Frankham. Mr. Joe Borovsky, a director and the former Chairman of Pivot added "We wish to thank Patrick for contributions to the Company and we wish him success in this next phase of his career."
About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals Inc. is a science-based, consumer packaged goods cannabis company engaged in the development and commercialization of health and wellness products using innovative, patent-protected drug delivery technologies. Upon receipt of Standard Processor and Medical Sales licenses (pending) from Health Canada, Pivot's premium, bioavailable, stable and effective products will be manufactured at its 50,000-sq. ft. cGMP facility located in Montreal, Quebec. Pivot's wholly-owned U.S. subsidiary, Pivot Naturals, LLC, based in Costa Mesa, California, was granted a Provisional Annual Manufacturing License Type N: Infusion License by the California Department of Public Health in May 2019. Pivot's product line will include infused beverages, vegan capsules, dissolvable tablets, topical creams and gels, intimate lubricants, roll-on pain relievers, stick packs, and bulk powder for the edibles market. For more information please visit pivotpharma.com
Cautionary Note Regarding Forward-Looking Statements
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as anticipate, believe, estimate, expect, intend, and similar expressions, as they relate to Pivot Pharmaceuticals Inc., Pivot Green Stream Health Solutions Inc., Pivot Naturals, LLC, or its management or the completion of the private placement, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, such as the failure to meet the conditions imposed by the CSE or other securities regulators, the level of business and consumer spending, the amount of sales of Pivot's products, statements with respect to internal expectations, the competitive environment within the industry, the ability of Pivot to continue to expand its operations, the level of costs incurred in connection with Pivot's expansion efforts, economic conditions in the industry, and the financial strength of Pivot's customers and suppliers. Pivot does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.