DionyMed Brands Announces Organizational Update, Trading Halt
TORONTO--(BUSINESS WIRE)-- DionyMed Brands Inc. (“DionyMed” or the “Company”) (CSE:DYME; OTCQB:DYMEF), a multi-state cannabis brands, Direct-to-Consumer and distribution platform, today announced trading of the Company’s shares was halted on September 16, 2019 pending an agreement for a restructuring of its debt facility. The Company expects to provide details of such restructuring very shortly. Any restructuring may be subject to definitive documentation, corporate approvals and other regulatory and third party approvals.
In addition, it announced today an organizational update.
DionyMed is also announcing today the resignation of COO Pete E. Hilliard, effective immediately. Mark Zinselmeier, a consultant with the Company, who had been working with DionyMed on growing its Chill Direct-to-Consumer cannabis delivery service, has been named interim COO. Mark previously worked with Edward Fields, DionyMed CEO, at HotChalk as COO and Chief Partnership Officer. As a successful executive in the hyper-competitive online degree space, Mark spent the last 12 years leading universities in the launch and growth of their online enrollment programs. He was instrumental in building the infrastructure and processes to scale student recruitment, retention and grassroots marketing efforts that led to the graduation of tens of thousands of successful students.
At DionyMed, Mr. Zinselmeier will focus on expanding the growth rate of DionyMed’s concierge cannabis delivery service Chill. “We are fortunate to have someone of Mark Zinselmeier’s caliber and experience step up to the position of interim COO at DYME,” said Edward Fields, CEO. “We are at a critical moment in the cannabis industry and this assignment gives us the expert leadership needed to successfully implement our Direct-to-Consumer strategy.”
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Founded in 2017, DionyMed is a multi-state cannabis brands platform, supporting cultivators, manufacturers and award-winning brands in the medical and adult-use cannabis markets. DionyMed sells branded products in every category from flower to concentrates and edibles. DionyMed serves cannabis consumers through retail dispensary distribution and Direct-to-Consumer fulfillment with its growing portfolio of award-winning brands. Learn more at DYME.com and follow @DYME_Inc on Twitter and LinkedIn.
Forward-Looking Information and Statements
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements, including but not limited to the risk factors set out in the Annual Information Form of the Company available on the Company’s profile on SEDAR at www.sedar.com.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in its entirety by this notice.
Edward Fields, CEO
Peter Kampian, CFO
Michelle Sitton, CMO
Source: DionyMed Brands Inc.
Released September 17, 2019