(TheNewswire)
Vancouver, British Columbia – TheNewswire - February 26, 2020 – Harrys ManufacturingInc. (“ Harrys ” or the “ Company ”)(CSE:HARY ) (CNSX:HARY.CN) ( OTC:WSRRF) is pleased to announce thatit and its wholly-owned subsidiary, have appointed Ken Storey as itsnew President & Chief Executive Officer (“ CEO ”), subject toregulatory approval.
Mr. Storey continues to bring over 35 years’experience in the tobacco industry to Harrys. Starting as an ImperialTobacco (BAT) sales rep, Ken’s many roles include President ofNational Smokeless Tobacco Company, a subsidiary of U.S. Tobacco (nowAltria), and Director of Sales for House of Horvath Inc., afamily-owned manufacturer of cigars and importer of global brands. In those roles, Ken has led consumer-focused sales and marketingteams and he is credited with achieving consistent revenue growth. This experience has led him coast to coast (to coast) in Canada andintroduced him to a strong network Industry associates. He has workedwith International companies such as Swisher International, Royal Agioand General Cigar. Mr. Storey is recognized in retail and wholesalechannels as a strategic supply channel partner and was honored asOutstanding Industry Leader of the Year in 2011 by the NationalConvenience Store Distributors Association. Ken currently sits on theBoard of Directors of Sting Free AB, a private company in Sweden andpatent holder in the Swedish Snus (smokeless tobacco product)Industry.
In order to facilitate Mr. Storey’s appointment,Kevin Kohanik has resigned from his position as President and CEO ofthe Company but will continue to serve on the Company’s board ofdirectors. Mr. Kohanik has been the Company’s CEO and a directorsince October 15, 2018.
Ken Storey the new CEO stated; “Kevin has built astrong team and I look forward to spearheading Harrys businessobjectives for successful entry into the tobacco cigarette market inCanada”.
Granting of Options
Pursuant to its incentive stock option plan, theCompany has granted incentive stock options to certain executives ofthe Company to purchase up to 1,000,000 common shares in the capital stock of theCompany. The options have a term of five years and are exercisableat an exercise price of $0.16 per share. The Options vest as of the date of the grant. The Options and any common shares issued upon exercise will besubject to a four month and a day resale restriction from the date ofgrant.
About Harrys
Harrys is a wholesale distributor of value priced, highquality, 100% natural tobacco cigarettes. Harrys utilizes varioustypes of tobacco blends to satisfy customer demands and preferencesfor products that meet Health Canada standards. Harrys’ managementteam brings over 50 years of combined experience in the domestic andinternational tobacco industry.
For more information, please visit: www.harrysmfg.com
ON BEHALF OF THE BOARD
"Kevin Kohanik"
Director
For further information, pleasecontact:
Corporate Communications
Telephone: 778-378-9375
Email: IR@HarrysMFG.com
Neither theCanadian Securities Exchange nor its regulation services provideraccepts responsibility for the adequacy or accuracy of thisrelease.
FORWARD-LOOKING STATEMENTS:
Cautionary Note RegardingForward-Looking Statements: This release includes certain statementsand information that may constitute forward-looking information withinthe meaning of applicable Canadian securities laws. All statements inthis news release, other than statements of historical facts,including statements regarding future estimates, plans, objectives,timing, assumptions or expectations of future performance areforward-looking statements and contain forward-looking information.Generally, forward-looking statements and information can beidentified by the use of forward-looking terminology such as"intends" or "anticipates", or variations of suchwords and phrases or statements that certain actions, events orresults "may", "could", "should","would" or "occur". Forward-looking statements arebased on certain material assumptions and analysis made by the Companyand the opinions and estimates of management as of the date of thisnews release. These forward-looking statements are subject to knownand unknown risks, uncertainties and other factors that may cause theactual results, level of activity, performance or achievements of theCompany to be materially different from those expressed or implied bysuch forward-looking statements or forward-looking information.Important factors that may cause actual results to vary include,without limitation: uncertainties affecting the Company’s ability toenter the Canadian tobacco market and the Company’s ability toobtain any requiredprovincial and federal licenses and registrations to operate in thetobacco industry. Althoughmanagement of the Company has attempted to identify important factorsthat could cause actual results to differ materially from thosecontained in forward-looking statements or forward-lookinginformation, there may be other factors that cause results not to beas anticipated, estimated or intended. There can be no assurance thatsuch statements will prove to be accurate, as actual results andfuture events could differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance onforward-looking statements and forward-looking information. Readersare cautioned that reliance on such information may not be appropriatefor other purposes. The Company does not undertake to update anyforward-looking statement, forward-looking information or financialout-look that are incorporated by reference herein, except inaccordance with applicable securities laws.
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