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Emblem Bolsters Medical Division to Support Growth and Product Innovation with Appointment of Wayne Kreppner as President
TORONTO, Oct. 11, 2018 (GLOBE NEWSWIRE) -- Emblem Corp. (TSXV: EMC, OTCQX:EMMBF) ("Emblem" or the "Company") today announced additional leadership and operational resources to support the rapid growth of its medical division and associated new product innovations. Emblem Director and current Medical Division President, John H. Stewart, welcomes Wayne Kreppner to the Company as the Division’s new President. Mr. Stewart will oversee the Division in an advisory capacity and will remain a member of Emblem’s Board of Directors. Mr. Kreppner will begin November 1, 2018. The appointment of Mr. Kreppner is subject to the normal course approvals of the TSX Venture Exchange.
An accomplished pharmaceutical industry executive, Mr. Kreppner will bring 20 years of research and development, regulatory affairs and senior management expertise to Emblem’s Medical Division. Prior to joining Emblem, Mr. Kreppner was President and Chief Operating Officer at Concordia International Corporation where he oversaw triple-digit growth of both revenue and EBITDA. He also served as Vice President, Technical Operations at Trimel Pharmaceuticals, and held various senior roles in technical operations and regulatory affairs at Biovail Corporation.
Over the past three years, Mr. Stewart led the creation of Emblem’s Medical Division and delivered several firsts for the Company, including its partnership with Canntab Therapeutics Inc. to develop oral extended-release cannabinoid tablets. Mr. Stewart also oversaw the design and build-out of Emblem’s extraction, analytical and product development facilities, the launch of Emblem’s line of four strain specific cannabis oils and most recently the launch of Atmosphere, Emblem’s line of metered-dose cannabis oil oral sprays.
“In a relatively short time, Emblem has established an extremely capable Medical Division. Wayne will bring with him a wealth of proven experience in developing, launching and commercializing pharmaceutical products. His ability to simultaneously manage the many aspects of new product development, clinical research and production will be an important addition to the Medical Division and Emblem’s overall commitment to product innovation,” said John H. Stewart, outgoing Division President. “I look forward to working closely with Wayne and existing members of the medical team.”
“Emblem’s Medical Division is a leader in product innovation. Emblem has always had a patient-first approach, developing new products that support patients’ health goals and that physicians are confident in prescribing. Wayne shares this mindset and we’re thrilled to bring his proven experience and leadership to our world-class team,” said Nick Dean, CEO, Emblem Corp.
In accepting his appointment, Mr. Kreppner said: “There is an incredible opportunity to further develop the role of cannabis and cannabinoids in medical treatment. The goal at Emblem is to identify innovative ways to bring pharmaceutical formulations of cannabis to patients, supported by clinical evidence. I am honoured to join Emblem’s medical team and look forward to contributing to the company’s success.”
Additional changes to Emblem Corp Leadership
Further changes to Emblem’s leadership team include the departure of Daniel Saperia, Chief Operating Officer, effective November 1, 2018. Mr. Saperia’s tenure at Emblem began in 2014 shortly after the Company’s founding, and includes a number of key accomplishments, including overseeing a 100% fill rate of first orders to Emblem’s provincial partners. Mr. Saperia will continue to provide support during a transition period until December 31, 2018.
“I want to personally thank Danny for his tremendous contributions to Emblem over the last four years as our first Chief Operating Officer. In his time at Emblem, Danny has been directly responsible for building the foundation upon which the Company can now prosper and grow into its next phase,” said Dean. “Under his leadership, we have seen significant improvements across our production, cultivation and supply chain. Danny is a fabulous mentor, coach, team leader and friend to many of us, and we wish him all the best.”
“I’m incredibly proud of Emblem’s accomplishments over the past four years and look forward to seeing the Company continue to grow in the future,” said Mr. Saperia. “I’m grateful to have played a role in Emblem’s evolution and wish the team continued success.”
Emblem, through its wholly-owned subsidiary Emblem Cannabis Corporation, is a fully integrated licensed producer and distributor of medical cannabis and cannabis derivatives in Canada under the Access to Cannabis for Medical Purposes Regulations (ACMPR). Emblem's state-of-the-art indoor cannabis cultivation facility and research and development laboratory is located in Paris, Ontario. Led by an experienced management team of healthcare executives, accomplished marketing professionals, and cannabis experts, Emblem is focused on driving shareholder value through product innovation, brand relevance, and access to patient and consumer channels. Emblem is also the parent company of GrowWise Health Limited, one of Canada's leading cannabis education services. Emblem trades under the ticker symbol EMC on the TSX Venture Exchange.
For more information, please visit www.emblemcorp.com.
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes. Management of the Company believes the expectations reflected in such forward-looking statements are reasonable as of the date hereof but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Various material factors and assumptions are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Those material factors and assumptions are based on information currently available to the Company, including data from publicly available governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of this industry which Emblem believes to be reasonable. However, although generally indicative of relative market positions, market shares and performance characteristics, such data is inherently imprecise. While Emblem is not aware of any misstatement regarding any industry or government data presented herein, the medical marijuana industry involves risks and uncertainties and is subject to change based on various factors.
Forward-looking statements are not a guarantee of future performance and are subject to and involve a number of known and unknown risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company's actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks identified in the Company's December 31, 2017 Management's Discussion and Analysis, which has been filed with the Canadian Securities Administrators and available on www.sedar.com. Any forward-looking statements are made as of the date hereof and, except as required by law, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.
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