MPXOF - MPXI Appoints New Chief Financial Officer
(TheNewswire)
TORONTO, ONTARIO - TheNewswire- October 19, 2020 - MPX International Corporation (" MPXInternational ", " MPXI " or the" Corporation ") (CSE:MPXI ) (CNSX:MPXI.CN) ( OTC:MPXOF) is pleased to announce theappointment of Jeremy Blumer as the Corporation's new Chief FinancialOfficer, effective October 16, 2020, subject to regulatory approval.
Mr. Blumer brings over 25 yearsof financial experience with both public and private companies to theCorporation, including in the cannabis industry as CFO with QualityGreen Inc. a cannabis license holder based in Ontario and WaylandGroup Corp. (formerly Maricann Group Inc.) which controlled amultinational group of cannabis companies. Mr. Blumer was also theSenior Director and Head of Accounting at Blackberry and held seniorfinance positions with Certicom, Ontario Ambulance Services Co andPilot Insurance.
Mr. Blumer is a Chartered Professional Accountant andholds an Honours Bachelor of Commerce degree in Accounting and Financefrom Queen's University.
"I would like to thank Jonathan Chu, on behalf ofthe Board, for his incredible service as Interim Chief FinancialOfficer over the past few months," said W. Scott Boyes, Chairman,President and CEO of MPXI. "Jon will re-assume his role asVice-President, Finance & Accounting and will continue to provideinvaluable support to our organization. I am also very pleased thatJeremy is joining the MPXI management team and I believe his financialexperience, both within the domestic and international cannabisindustry, will be a tremendous asset as MPXI continues togrow."
Concurrently with his appointment, MPXI will grant Mr.Blumer a total of 500,000 stock options to purchase common shares ofthe Corporation, the first 250,000 at an exercise price of $0.25 pershare, vesting on the first anniversary of his employment with MPXIand the second 250,000 options at an exercise price of $0.35 per sharevesting on the second anniversary of his employment. The grant issubject to regulatory approval.
Under the Corporation's stock option plan (the" Plan "), 2.92% of the issued and outstanding common shares or4,142,180 common shares are reserved forissuance, including the above grant, and the Corporation may grant anadditional 10,024,842 options under the Plan representing 7.08% of theissued and outstanding common shares.
About MPX InternationalCorporation
MPX International Corporation is a multinational diversified cannabis company focused on developing and operating assets across theinternational cannabis industry with an emphasis on cultivating,manufacturing and marketing products which include cannabinoids astheir primary active ingredient. With current operations spanning fourcontinents in Canada, Switzerland, South Africa, Malta and Australiaas well as evolving partnership and distribution opportunities inother jurisdictions, MPXI continues to position itself as an emergentglobal participant in the cannabis industry.
Cautionary Statement RegardingForward-Looking Information
This news release includescertain "forward-looking statements" under applicableCanadian securities legislation that are not historical facts.Forward-looking statements involve risks, uncertainties, and otherfactors that could cause actual results, performance, prospects, andopportunities to differ materially from those expressed or implied bysuch forward-looking statements. Forward-looking statements in thisnews release include, but are not limited to, MPX International'sobjectives and intentions. Forward-looking statements are necessarilybased on a number of estimates and assumptions that, while consideredreasonable, are subject to known and unknown risks, uncertainties andother factors which may cause actual results and future events todiffer materially from those expressed or implied by suchforward-looking statements. Such factors include, but are not limitedto: general business, economic and social uncertainties; litigation,legislative, environmental and other judicial, regulatory, politicaland competitive developments; delay or failure to receive board,shareholder or regulatory approvals; the Corporation's ability to effectively deal with therestrictions, limitations and health issues presented by the COVID-19pandemic; future cannabis pricing; cannabis cultivation yields; costsof inputs; its ability to market products successfully to itsanticipated clients; reliance on key personnel and contracted relationshipswith third parties; the regulatory environment in Australia, Canada,Malta, South Africa, Switzerland and other internationaljurisdictions; the application of federal, state, provincial, countyand municipal laws; and the impact of increasing competition; those additional risks setout in MPX International's public documents filed on SEDAR at www.sedar.com , including its audited annualconsolidated financial statements for the financial years endedSeptember 30, 2019 and 2018, its unaudited interim condensed consolidatedfinancial statements for the three and six months ended March 31,2020 and the correspondingannual management's discussion and analysis; and other mattersdiscussed in this news release. Although MPX International believesthat the assumptions and factors used in preparing the forward-lookingstatements are reasonable, undue reliance should not be placed onthese statements, which only apply as of the date of this newsrelease, and no assurance can be given that such events will occur inthe disclosed time frames or at all. Except where required by law, MPXInternational disclaims any intention or obligation to update orrevise any forward-looking statement, whether as a result of newinformation, future events, or otherwise.
For further information, please contact:
MPX International Corporation
W. Scott Boyes, Chairman, President and CEO
T: +1-416-840-3725
info@mpxinternationalcorp.com
For additional information on MPXI visit our website www.mpxinternationalcorp.com or http://mpxi.tv .
NOT FOR DISTRIBUTION TONEWSWIRE SERVICES IN THE UNITED STATES OR FOR DISSEMINATION IN THEUNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAYCONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS.
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