Vancouver, British Columbia and Denver, Colorado–(Newsfile Corp. – October 28, 2020) – INDVR Brands Inc. (CSE: IDVR) (“INDVR“, “INDVR Brands” or the “Company“), is pleased to announce the appointment of Jordan Shapiro to the role of Executive Vice President, Business Development and to the Board of Directors, effective October 28, 2020. This appointment follows the resignation of Rahim Mohamed from the Board of Directors. INDVR would like to express its profound gratitude to Rahim for his time on the Board and wish him the best on his future endeavors.
Mr. Shapiro brings 25 years of experience in the financial services industry to INDVR Brands. He spent six years serving clients in Canada and the United States as an Investment Advisor at Canaccord Capital Corporation, Canada’s largest independent securities dealer. At Canaccord Capital, Mr. Shapiro specialized in venture capital financings and derivatives trading. Since 2002, Mr. Shapiro has assisted companies in areas of corporate finance and business development. Most recently, Mr. Shapiro was part of the Financing Team that took Aurora Cannabis public in 2013 on the CSE at an initial valuation of under $10mm. Aurora famously graduated to the NYSE and achieved a $15 billion valuation in 2018. Mr. Shapiro was also the CEO and Director of Metropolitan Energy; the public company that merged with INDVR Brands to go public in 2019. He holds a Bachelor of Arts degree from the University of Western Ontario.
Joshua Mann, President and Interim CEO, commented, “We are extremely pleased to announce the appointment of Mr. Shapiro as INDVR’s new EVP of Business Development and to the Board. Jordan has had great success in working with growth companies both in Canada and the United States. He has broad fundamental knowledge of running a public company at scale. We are excited about having his thoughtful, strategic voice on the Board of INDVR and look forward to building exceptional value for our shareholders.”
About INDVR Brands
INDVR Brands Inc. (CSE: IDVR) is a Colorado-based, Canadian-listed company focused on the creation and distribution of unique and exciting brands in the legal US cannabis market.
Disclaimer and Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “anticipate”, “could”, “intend”, “expect”, “believe”, “will”, “projected”, “potential”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In this news release, forward-looking statements relate, among other things, to: the completion of the corporate name change, the ability for the Company to find replacement directors and any adverse consequence thereof. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward- looking information contained herein.
Cannabis is legal in certain States in the United States (“U.S.“), however cannabis remains illegal under U.S. federal laws. IDVR intends to conduct its U.S. cannabis operations in a manner consistent with the applicable State laws and compliance with regulatory and licensing requirements applicable in the applicable State. However, the readers should be aware that any change in federal guidance on enforcement actions could adversely affect IDVR’s ability to access private and public capital required in order to support continuing operations and its ability to operate in the U.S.
Unlike in Canada, which has Federal legislation uniformly governing the cultivation, distribution, sale, and possession of cannabis under the Cannabis Act (Federal), readers are cautioned that in the U.S., cannabis is largely regulated at the State level. To the knowledge of IDVR, there are to date a total of 33 states, plus the District of Columbia, that have legalized cannabis in some form. Notwithstanding the permissive regulatory environment of medical cannabis at the State level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. Federal law. Strict compliance with State laws with respect to cannabis will neither absolve IDVR of liability under the U.S. Federal law, nor will it provide a defense to any Federal proceeding, which may be brought against IDVR. Any such proceedings brought against IDVR may materially adversely affect its operations and financial performance in the U.S. market.
Further Information: For investment inquiries, please contact Scott Koyich, Investor Relations at [email protected] or (403) 619-2200. For other inquiries, please contact Joshua Mann at [email protected] or (587) 890-8400.
THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW
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