Denver, CO - (NewMediaWire) - September 10, 2019 - Two Rivers Water & FarmingCompany (OTCQB: TURV) today announced the resignation of Chief Executive OfficerWayne Harding, and the appointment of Greg Harrington as Interim ChiefExecutive Officer. Mr. Harrington will also replace Mr. Harding on the Board ofDirectors and assume his role as Acting Chief Financial Officer.
Mr. Harding joined Two Riversin July 2008, became the Chief Financial Officer in September 2009 and theChief Executive Officer in June 2016. Plans have been in place for thisleadership change since several months before the merger with Vaxa Global onJuly 31, 2019 to facilitate the company’s transition from a holding companywith land and water rights into a fully integrated seed-to-sale operatingentity. Mr. Harding will continue to be available to provide advice during thetransition period.
Mr. Harrington is anexperienced financier and agricultural operating executive, who recently joinedTwo Rivers with the acquisition of Vaxa Global. Following the closing of theacquisition last month, the Board of Directors has taken steps to strategicallyreposition the company in line with its new mission of becoming a leadinghemp-based seed-to-sale operator. The appointment of Mr. Harrington in theinterim role puts an experienced operating executive in place with the formalmandate to execute the acquisitions, internal restructurings and asset spinoutsthat the Board is considering. By the end of his assignment, the Board expectsto have an operating management team in place to go forward.
“We are excited to announce theappointment of Greg Harrington into this role,” said Two Rivers’ Chairman,Gerald Anderton Sr. “Greg has a unique combination of corporate financing andagricultural operations experience that fits our transitional needs. Since Ijoined the Board in July, we have been looking at every aspect of our companyto evaluate how we can best take our assets and opportunities and restructureour liabilities to set the Company on a path to a profitable operating future.We are doing this as a matter of great urgency and putting Greg in thisimportant role gives us a focal point to implement the changes. We expect asmooth transition with Wayne’s support and advice and thank him for workthroughout this process.”
Harrington has over 25 years ofexperience in corporate finance, restructuring and acquisitions. He has been aprincipal executive or investor in the acquisitions of public and privatecompanies with combined sales in excess of $500 million. He has also previouslyserved as Chairman of the Board for Best Candy & Tobacco, Inc., an Arizonatobacco and confectionary company as well as one of the top 10 independentmortgage banking firms in Southern California. Harrington was raised on afamily farm in North Dakota and has over four decades of experience in farmingand cattle operations. During the past 10 years, he has been involved inindustrial hemp farming in Canada as well as financing and developing farmingco-operatives there.
Investor Conference Call
Two Rivers has scheduled aconference call with existing and potential Two Rivers' shareholders Sept. 10,2019, at 4:30 P.M. ET. Time will be set aside to address questions that havebeen submitted in advance via email to info@2riverswater.com. Theparticipant dial number is +1 (571) 317-3122 with passcode 589-404-109. Aplayback of the call will be available within 24 hours after the conference byaccessing the Company website at www.2riverswater.com/investors.
About Two Rivers
Two Rivers is a Colorado-basedagribusiness company pursing a mission to become a leading hemp-basedseed-to-sale operator. The company owns agricultural land and water rights inSouthern Colorado where it grows various strains of hemp with proprietarygenetics. Two Rivers sells biomass, processes and extracts phytocannabinoidsand is developing a consumer brand based on its Nature's Whole Spectrum™approach. To learn more about Two Rivers, visit www.2riverswater.com andwww.vaxaglobal.com.
Forward-Looking Statements
This news release contains"forward-looking statements," as that term is defined in Section 27Aof the Securities Act of 1933 and Section 21E of the Securities Exchange Act of1934. Statements that are not purely historical are forward-looking statementsand include any statements regarding beliefs, plans, expectations or intentionsregarding the future. Actual results could differ from those projected in anyforward-looking statements due to numerous factors, including the inherentuncertainties associated with developing and acquiring land and waterresources. There can be no assurance Two Rivers will be able to initiate andoperate in accordance with its business plans. These forward-looking statementsare made as of the date of this news release, and Two Rivers assumes anyobligation to update the forward-looking statements or to update the reasonswhy actual results could differ from those projected in the forward-lookingstatements.
Investor Relations:
Two Rivers Water & FarmingCompany
Media Contact:
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858-264-6600