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VANCOUVER, BC, March 29, 2022 /PRNewswire/ - YourWay Cannabis Brands Inc. (CSE: YOUR) (OTC: YOURF) (FSE: HOB) (the "Company" or "YourWay"), a multi-state and consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact, today announced that Sandra Ceccacci, will join YourWay as its Chief Financial Officer ("CFO") effective April 4, 2022.
Ms. Ceccacci joins YourWay from Clearway Group of Companies, where she served as Vice-President of Finance, providing strategic, operational, and financial leadership to one of Canada's leading nationwide contractors. Prior to that, she delivered $1.3B in shareholder value by leading the spin out of Element Financial Corporation's equipment, rail, and aviation divisions and subsequently joining ECN Capital Corp as their Senior Vice President, Finance and Taxation. Throughout her career, Ms. Ceccacci held various roles where she was an integral part in delivering strategic initiaves, leading cross functional teams responsible for planning and due diligence for acquisitions and dispositions, process and systems improvements, de-risking and monetizing tax positions, and fostering highly productive teams.
"Sandra brings a wealth of experience and a proven track record as a results-oriented financial executive," said Eula Adams, member of the board of directors and former CFO of YourWay. "Sandra has over 25 years of leadership experience in finance, tax, accounting, treasury, mergers, acquisitions and divestitures for entities operating in multiple business units and geographies."
"I am delighted to be part of YourWay's leadership team as we aim to expand into new markets, categories and introduce new brands to consumers", said Sandra. "It is exciting to join an organization committed to building a portfolio of brands that are focused on satisfying consumer needs and committed to delivering shareholder value."
Ms. Ceccacci is a Chartered Professional Accountant and graduated from the University of Toronto with a Bachelor of Commerce and Economics.
Eula Adams was appointed as the Interim CFO and a member of the YourWay board of directors in 2021 with an objective to implement financial processes and to recruit an outstanding leader for the permanent role. Mr. Adams will work with Ms. Ceccacci to ensure an effective transition of CFO responsibilities as part of his continued role on YourWay's board of directors.
"I want to thank Eula for his terrific work and leadership during the rebrand from Hollister Biosciences to YourWay Cannabis Brands, and in the transition to internalize accounting, finance and administrative functions that were previously outsourced," said Jakob Ripshtein, Executive Chairman of YourWay. "We look forward to his continued leadership as a board member."
About YourWay Cannabis Brands
YourWay is a publicly-traded, multi-state and consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact, with sales and operations in Arizona and California. Through building their own brands, partnering with others, and supporting retail partners house brand strategy, they are dedicated to expanding their reach; remolding the cannabis industry and ultimately, redefining the way consumers and cannabis brands interact.
YourWay aims to connect with the cannabis consumer on a deeper level, utilizing decades of brand-building expertise and an integral understanding of the customer experience to create an intuitive suite of branded products that closely aligns with consumer need states. The YourWay portfolio is an all-encompassing house of brands designed to create a sense of belonging for every cannabis consumer regardless of their relationship with the plant. Please visit www.yourwaycannabis.com or follow on Twitter at @yourwaycannabis for the latest news and information about YourWay and its brands.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain "forward-looking information" as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: the commencement of Ms. Ceccacci's role as CFO of the Company; the Company's intended expansion into new markets, categories and the introduction of new brands; the Company's commitment to building a portfolio of brands focused on satisfying customer needs and delivering shareholder value; and expectations for other economic, business, and/or competitive factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.
Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: regulatory and licensing risks; changes in consumer demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; compliance with extensive government regulation; public opinion and perception of the cannabis industry; the impact of COVID-19; and the risk factors set out in the Company's annual information form dated August 28, 2020, filed with Canadian securities regulators and available on the Company's profile on SEDAR at www.sedar.com.
The Company, through several of its subsidiaries, is indirectly involved in the manufacture, possession, use, sale, and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States. Local state laws where the Company operates permit such activities however, investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable United States federal money laundering legislation.
While the approach to enforcement of such laws by the federal government in the United States has trended toward nonenforcement against individuals and businesses that comply with recreational and medicinal cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under United States federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company's operations and financial performance.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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