Toronto, Ontario--(Newsfile Corp. - June 19, 2020) - PharmaDrug Inc. (CSE: BUZZ) (OTC: LMLLF) ("PharmaDrug" or the "Company") is pleased to announce that Michael Forbes will be joining the board effective immediately.
Over the course of 16 years, Michael has created and operated a chain of pharmacies throughout BC and Alberta. Michael's innovative nature led him to create the Ageless Living brand, which includes Ageless Living Wellness Centre. In 2014 he launched the first Ageless Living Expo and opened Canada's first Biohacking Centre, to help people increase their workout efficiency and recover quicker from illness and injury.
He has built over a dozen medical clinics, including 3 methadone clinics, and provides over 500 jobs. Michael's expertise led him to being nominated to help create the procedures for methadone maintenance procedures for the College of Pharmacists of British Columbia. Through his pharmacy background and cannabis experience, Michael is helping protect our communities from drug diversion and help increase accessibility to medications for those in need. Michael has founded 5 cannabis medical clinics called Concord Medical Clinic and a cannabis production facility named Sitka Weed Works. He has also built and opened 14 Choom Cannabis locations, owns and operates the Clarity Cannabis chain and is launching Honeycomb Cannabis across Canada.
Michael's company, Forbes Group, operates a diverse group of businesses and real estate across Western Canada including: Salt Spring Island Ales, Casino Royale Rentals, Bubble Soccer, Island View Care, West Coast Super Storage, Sitka Weedworks Inc, Forbes Pharmacy, and Clarity Cannabis. Michael saw an immediate need to start the Langford COVID-19 Response Team in mid-March 2020. He put his resources together and within a week, started testing and treating potential COVID patients in the Western Communities.
Daniel Cohen, Chairman and CEO of PharmaDrug, commented "We are absolutely thrilled to add the expertise of a member of Michael's calibre to our Board of Directors. Michael's unique combination of experience in pharmacy, clinic and dispensary development make him a perfect fit with our strategy to roll up smart shops in the Netherlands. Michael's support of natural based medicines are made evident with his success in the cannabis field and we are excited by his enthusiasm towards the sprouting psychedelic industry. We also think that Michael will add tremendous value in our ongoing efforts to expand our supply chain and introduce proprietary brands of Medical Cannabis in Germany."
The Company also announces that Jim Frazier will be stepping down from the board effective immediately. Jim Frazier has stepped down to make room for Michael Forbes and to pursue other ventures. We thank him for his past contribution to PharmaDrug and wish him well with all his future endeavours.
About PharmaDrug Inc.
PharmaDrug Inc. is building an international controlled substance and natural medicine company with a focus on Europe. The Company owns 80% of Pharmadrug GmbH, a German medical cannabis distributor, with a Schedule I European Union narcotics license allowing for the importation and distribution of medical cannabis to pharmacies in Germany and throughout the EU. The Company also owns 100% of Super Smart, an early-stage retail company focused on consolidating the fragmented Dutch smartshop market. Smartshops are retail establishments in The Netherlands that specialize in the sale of psychoactive substances including psychedelic truffles.
For further information, please contact:
Daniel Cohen, CEO
Caution Regarding Forward-Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Forward looking statements in this press release relate to the integration of the Smart Shop business, anticipated volume growth in the Company's German business and the introduction by the Company of its own brand of medical cannabis. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to locate additional supply of medical cannabis, owning interests in companies or projects that are engaged in activities currently considered illegal under United States federal law; changes in laws; limited operating history, reliance on management, requirements for additional financing, competition, hindering market growth; regulatory and political change. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.