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Pasha Brands Announces Board Restructuring and Maps Future

VANCOUVER, British Columbia, Nov. 29, 2019 /CNW/ -- Pasha Brands Ltd. ("Pasha" or the "Company") (CSE: CRFT) (OTC: CRFTF) (FSE: ZZD), one of North America's largest craft cannabis brand house, announces today the following resignations: Scott Walters, Rosy Mondin and Hugo Alves as directors of the Company. The resignations are effective immediately.  Pasha would like to thank Mr. Walters, Ms. Mondin and Mr. Alves for their time and contributions made to the Company and wishes them well with their current and future endeavors.

Commenting on these resignations, Executive Chairman, Patrick Brauckmann stated, "My vision with Pasha was to give small farmers, legacy brands and the founders of Canada's original cannabis industry, those marginalized and excluded by governments on all levels through-legalization, a chance to enter the regulated market through our craft aggregation platform and the only prohibition era brand house that exists in Canada. In an industry that is generally devoid of quality and meaning, I'm grateful Scott, Rosy and Hugo shared my vision and were able to contribute to our unique offering. Their resignations will not diminish our resolve to see this project completed, as thousands of cannabis professionals wait in line to re-enter the industry they created."

The Company will be working to establish a new working Board made up by those invested in Pasha and its future, and will provide further information on new board appointments as soon as it becomes available. Pasha will also use this opportunity to refresh its ranks and reposition key personnel to reflect the Company's goal of having Grizzlers™ and Roll Model™ pre-rolls in the market in early 2020.

The Company is proud of its accomplishments, having acquired eight pre-legalization brands, established BC Craft Supply Co., a solution provider to the micro cultivation community in Canada, acquired Medcann Health Products Ltd., a Health Canada licensed cultivator and processor operating out of a 10,000 square foot facility on Vancouver Island, acquired Royal Green Acres Ltd., a late stage licenced producer applicant under the ACMPR, established Craft Labs™, a proprietory platform bringing quality assurance to the craft industry, secured over 140 supply agreements with micro-cultivation applicants across Canada, who, when and if licenced by Health Canada could produce tens of thousands of craft cannabis, secured supply agreements with the first five micro-cultivation licences granted by Health Canada, and recruited a strong group of cannabis professionals, brokers and operators, many of who played a part in creating Canada's original cannabis industry.

About Pasha Brands

Based in British Columbia, Pasha is both North America's largest network and agregrator of craft cannabis and Canada's only prohibition-era brand house firmly rooted in the culture and made up by the people that created the original cannabis industry. With proven capabilities in cannabis cultivation, genetic research and development, product processing, and retail, Pasha is uniquely positioned in the new legal cannabis market through its network of hundreds of craft cannabis suppliers under the Pasha umbrella.

Pasha subsidiary, Medcann Health Products Ltd., is a Health Canada licensed cultivator and processor with a licence to sell medical cannabis products in Canada.

Pasha, and its subsidiary BC Craft Supply Co. Ltd, assists micro cultivation farmers in bringing craft quality into the newly legal cannabis market in Canada by assisting them in both gaining access to licensing but also through its proprietory quality assurance and testing platform known as Craft Labs™, a proprietory platform bringing quality assurance to the craft industry, BC Craft Supply is driven to assist craft growers in obtaining security clearance and licensing to grow as micro-cultivators, specializing in education and compliance to bring growers into the regulated cannabis supply market.

Pasha's common shares trade on the CSE under the symbol "CRFT" and on the FSE under the symbol "ZZD".

For more information, please visit www.pashabrands.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Patrick Brauckmann
Executive Chairman

Media & Investor Relations Contact

Charles Lee
communications@pashabrands.com 
(236) 521-5135

This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements regarding the issuance of securities to settle certain debts and resale restrictions relating to the securities issued. The forward-looking statements reflect management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include general market conditions and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

Media & Investor Relations Contact

Charles Lee
communications@pashabrands.com 
(236) 521-5135

 

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SOURCE Pasha Brands Ltd.