BioHarvest Sciences Inc. (CSE:BHSC) (the “Company”) announces today the appointment of Mr. Ilan Sobel as the Chief Executive Officer replacing Dr. Zaki Rakib in this role. Dr. Rakib will assume the new positions of President and Chairman of the Board and as such Mr. Dave Ryan, previously President, will assume the role of Vice President of Investor Relations. The appointment of Mr. Sobel and the changes listed above are effective immediately.
“The merger of BioHarvest Ltd. with Canna-V-Cell Sciences Inc. completed late March, creates a great opportunity for the Company to leverage its proprietary Biofarming technology in multiple verticals that include Cannabis and Nutraceuticals,” said Dr. Zaki Rakib, and added, “Such opportunities require the best management team to address. BioHarvest is fortunate to bring Ilan Sobel as its CEO to lead the Company at such an important junction. Ilan brings a wealth of hands-on experience, business acumen and leadership expertise in building large-scale businesses and billion-dollar brands, delivering margin-enhancing business innovation and driving productivity improvements for some of the biggest industry leaders across diverse markets. On behalf of the Board of Directors and the Management, I welcome Ilan to the team and look forward to partnering with him on our exciting journey of building BioHarvest Sciences’ business.”
“I am honored and grateful to have this opportunity to lead a great team with such a technological platform which has the real ability to positively impact the lives of millions of consumers,” said Ilan Sobel and, continued, “I am looking forward to building on the early success of VINIA®, one of the world first natural vasodilator without sugar and calories and in the future, following our completion of critical R&D work, having the ability to change the cannabis market with the supply of consistent, homogenous cannabis at a fraction of today’s industry cost.”
Ilan Sobel, brings to the Company extensive experience in General Management, International Sales and Marketing, Manufacturing and Operations. For the past 6 years, Ilan served as Chief Operating Officer and then Chief Commercial Officer of Weissbeerger, where he played a major leadership role in building a disruptive BIG Data, IOT & Software Company servicing major Beverage players which was recently purchased by Anheuser Busch InBev. Previously, Ilan served an 18 year stint as an International Employee of The Coca-Cola Company, where he played a pivotal role in key senior leadership positions generating significant revenue and profit growth and improving brand health trends across diverse global markets including the United States, China, Hong Kong, Taiwan, Thailand, Singapore, Malaysia, Vietnam, the Philippines and South Africa.
Under the terms of a Consulting Agreement dated for reference June 1st, 2020, the Company will pay Mr. Sobel a consulting fee of $ 34,547 per month subject to annual increases over the 3 year term of the Agreement and annual bonus based on performance. The Company has also agreed to grant Mr. Sobel options to acquire a total of 18,098,196 common shares of the Company at a price of $0.14 per share. The options will be exercisable for a 10 year period and will vest quarterly over the term of the consulting agreement.
About BioHarvest Sciences Inc.
Based in Vancouver BC, BioHarvest Sciences Inc. is the developer and exclusive owner of the proprietary and patent protected Biofarming technology. It is the first and only industrial large-scale plant cell growth technology capable of directly and constantly producing the active plant ingredients without the necessity to grow the plant itself. The technology has been already validated by Vinia, the red grapes cells functional food/dietary supplement produced and sold by BioHarvest. By adapting this technology to the Cannabis plant, and building adequate cells production capacity, BioHarvest Sciences Inc.’s objective is to become the leading supplier of Cannabis for both the medicinal and recreational legal use. See the following hyperlink for a visual description of our Biofarming technology: https://www.youtube.com/watch?v=c7pxqAoTf5g
BioHarvest Sciences Inc.
Dr. Zaki Rakib
President and Chairman of the Board
For further information, please contact:
Dave Ryan, VP Investor Relations & Director
Phone: 1 (604) 622-1186
Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
Neither Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release