MONTREAL, March 24, 2025 (GLOBE NEWSWIRE) -- Cannara Biotech Inc. (“Cannara”, “the Company”, “us” or “we”) (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB0), a vertically integrated producer of premium-grade cannabis and derivative product offerings at affordable prices with two mega facilities based in Québec spanning over 1,650,000 sq. ft., is pleased to announce the appointment of Mr. Justin Cohen to its board of directors (the “Board”) as an independent director. Mr. Cohen will also serve as a member of the Audit Committee.
Mr. Cohen is a seasoned executive with a track record of driving transformational growth and providing valuable leadership in brand development, sales and marketing. As Chief Marketing and Chief Commercial Officer at Psycho Bunny, he spearheaded the brand’s evolution from a niche player to a global powerhouse. Under his leadership, revenues increased tenfold over three years, driven by strategic retail expansion, digital acceleration, and brand reinvention.
Prior to Psycho Bunny, Mr. Cohen led direct-to-consumer and e-commerce strategy at Keurig Dr Pepper, expanding its digital footprint and scaling revenue across online and omnichannel platforms. He has also held leadership roles at Google, ALDO Group, and Sony Music, where he guided brands through digital transformation and new growth opportunities.
Currently, as a senior executive at Cosmetic Physician Partners, Mr. Cohen oversees integrated marketing across a portfolio of over 55 clinics in the United States, ensuring scalable and sustainable expansion. In addition to his corporate leadership, he serves on the board of Dose Juice, advising on commercial strategy, market expansion, and operational efficiency. Mr. Cohen holds degrees in Marketing & Advertising, an MBA, and a master’s in behavioral science from the London School of Economics.
“We are thrilled to welcome Justin to our Board,” said Zohar Krivorot, CEO of Cannara. “His expertise in brand building, digital transformation, and consumer engagement aligns perfectly with Cannara’s vision to execute our strategy of positioning our three flagship brands – Tribal, Nugz, and Orchid CBD – as Canada’s leading cannabis brands. His strategic leadership will be invaluable as we scale our operations and expand our brand equity and market presence in Canada.”
"I am honored to join Cannara’s Board of Directors at such an exciting time,” said Mr. Justin Cohen. “Cannara has established itself as a leader in the cannabis industry with a strong commitment to quality, innovation, and accessibility. I look forward to contributing my experience in brand strategy and digital transformation to support Cannara’s continued success and expansion."
CONTACT
Nicholas Sosiak, CPA, CA Chief Financial Officer nick@cannara.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
ABOUT CANNARA
Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB0), is a vertically integrated producer of affordable premium-grade cannabis and cannabis-derivative products for the Canadian markets. Cannara owns two mega facilities based in Québec spanning over 1,650,000 sq. ft., providing the Company with 100,000 kg of potential annualized cultivation output. Leveraging Québec’s low electricity costs, Cannara’s facilities produce premium-grade cannabis products at an affordable price. For more information, please visit cannara.ca.
CAUTIONARY STATEMENT REGARDING “FORWARD-LOOKING” INFORMATION
This news release may contain “forward-looking information” within the meaning of Canadian securities legislation (“forward-looking statements”). These forward-looking statements are made as of the date of this MD&A and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements with respect to Cannara future performance, market growth, and business expansion.
Forward-looking statements relate to future events or future performance and reflect Company management’s expectations or beliefs regarding future events and include, but are not limited to, the Company and its operations, its projections or estimates about its future business operations, its planned expansion activities, anticipated product offerings, the adequacy of its financial resources, the ability to adhere to financial and other covenants under lending agreements, future economic performance, and the Company’s ability to become a leader in the field of cannabis cultivation, production, and sales.
In certain cases, forward-looking statements can be identified by the use of words such as “plans,” “expects” or “does not expect,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates” or “does not anticipate,” or “believes,” or variations of such words and phrases or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will be taken,” “occur” or “be achieved” or the negative of these terms or comparable terminology. In this document, certain forward-looking statements are identified by words including “may,” “future,” “expected,” “intends” and “estimates.” By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in, or implied by, such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors which are discussed in greater detail under “Risk Factors” in the Company’s AIF available on SEDAR+ at www.sedarplus.ca and under the “Investor Area” section of our website at https://www.cannara.ca/en/investor-area.
Other risks not presently known to the Company or that the Company believes are not significant could also cause actual results to differ materially from those expressed in its forward-looking statements. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, readers are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Certain assumptions were made in preparing the forward-looking information concerning the availability of capital resources, business performance, market conditions, as well as customer demand. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and we do not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.
