BellRock Brands Announces Departure of its Chief Executive Officer
AURORA, CO, USA, February 27, 2024 /EINPresswire.com/ -- BellRock Brands Inc. ("BellRock" or the “Company") (CSE: BRCK.U), an industry-leading cannabis multi-state house of brands, announced today that Brian Jansen, BellRock’s Chief Executive Officer, will be departing the Company next month. The Company is commencing a search for his successor.
During the interim period, members of the management team, the Board of Directors and the principals of West 4th Holdings, the management consulting firm previously brought in by the Board of Directors, will have direct oversight of BellRock’s strategy and operations, working closely with the Company’s senior leadership team.
Mr. Jansen stated “It has been an honor to work with our dedicated team and stakeholders over the past several years. I wish the entire BellRock team success as they continue to navigate the business into the cannabis industry’s next phase of growth. I believe BellRock will continue to be a leader due to the strength of its brands and people. Finally, I want to thank the West 4th team for advising BellRock through an operational turnaround within a capital-constrained environment."
“We thank Brian for the leadership and passion he brought to the Company,” said Sat Joshi, Board Member and Chief Strategy Officer of BellRock. “Amidst challenging industry conditions, under Brian’s leadership, BellRock’s brands successfully entered new markets and launched innovative products. We are confident in the capabilities of the Company’s leadership team and staff during this transition as BellRock moves ahead with its search process.”
BellRock also confirmed its ongoing engagement with its creditors to lower the Company’s overall debt and interest burden. The Company, alongside West 4th Holdings, is considering all strategic alternatives to maximize value for its various stakeholders. These may include, but are not limited to, future corporate development activities, restructuring of debt obligations on its balance sheet, and raising new capital.
ABOUT BELLROCK BRANDS:
BellRock Brands is a multi-state cannabis house of brands possessing one of the industry’s broadest product portfolios. BellRock offers more than 100 products via Dixie Brands™ and Mary’s Medicinals®. Dixie Brands™ is a leading edibles and beverage company. Mary’s Medicinals® is the leader in the cannabis health and wellness category. BellRock’s products are currently offered in 11 US states and Canada. BellRock is also home to Mary’s Nutritionals™ and Mary’s Tails™, and Mindset™. For more information, please visit www.bellrockbrands.com.
FORWARD-LOOKING INFORMATION AND STATEMENTS
The information provided in this press release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. All statements, other than statements of historical fact, made by the Company (or its predecessors) that address activities, events or developments that the Company expects or anticipates will or may occur in the future are forward-looking statements, including, but not limited to, statements preceded by, followed by or that include words such as "may", "will", "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "intends", "anticipates", "targeted", "continues", "forecasts", "designed", "goal", or the negative of those words or other similar or comparable words. Forward-looking statements may relate to future financial conditions, results of operations, plans, objectives, performance or business developments.
These statements speak only as at the date they are made and are based on information currently available and on current expectations and assumptions concerning future events, which are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from that which was expressed or implied by such forward- looking statements, including, but not limited to, risks and uncertainties related to: (i) the regulation of the medical and recreational marijuana industry in the United States, Canada, Mexico, Australia, New Zealand, Latin America and other countries in which the Company may carry on its business; (ii) the ability of the Company to obtain meaningful consumer acceptance and a successful market for its products on a national and international basis at competitive prices; (iii) the ability of the Company to develop and maintain an effective sales network; (iv) the success of the Company in forecasting demand for its products or services; (v) the ability of the Company to maintain pricing and thereby maintain adequate profit margins; (vi) the ability of the Company to achieve adequate intellectual property protection; (vii) the availability of financing opportunities, risks associated with economic conditions, dependence on management and conflicts of interest; and (viii) other risks described from time to time in documents filed by the Company with securities regulatory authorities.
With respect to the forward-looking statements contained herein, although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements as no assurance can be given that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including the risks described above.
Consequently, all forward-looking statements made in this press release are qualified by such cautionary statements and there can be no assurance that the anticipated results or developments will actually be realized or, even if realized, that they will have the expected consequences to or effects on the Company. The cautionary statements contained or referred to herein should be considered in connection with any subsequent written or oral forward-looking statements that the Company and/or persons acting on the Company's behalf may issue.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.
###
SOURCE BellRock Brands Inc.
For further information:
Media Inquiries or Investor Relations
BellRock Brands
Email: IR@bellrockbrands.com
During the interim period, members of the management team, the Board of Directors and the principals of West 4th Holdings, the management consulting firm previously brought in by the Board of Directors, will have direct oversight of BellRock’s strategy and operations, working closely with the Company’s senior leadership team.
Mr. Jansen stated “It has been an honor to work with our dedicated team and stakeholders over the past several years. I wish the entire BellRock team success as they continue to navigate the business into the cannabis industry’s next phase of growth. I believe BellRock will continue to be a leader due to the strength of its brands and people. Finally, I want to thank the West 4th team for advising BellRock through an operational turnaround within a capital-constrained environment."
“We thank Brian for the leadership and passion he brought to the Company,” said Sat Joshi, Board Member and Chief Strategy Officer of BellRock. “Amidst challenging industry conditions, under Brian’s leadership, BellRock’s brands successfully entered new markets and launched innovative products. We are confident in the capabilities of the Company’s leadership team and staff during this transition as BellRock moves ahead with its search process.”
BellRock also confirmed its ongoing engagement with its creditors to lower the Company’s overall debt and interest burden. The Company, alongside West 4th Holdings, is considering all strategic alternatives to maximize value for its various stakeholders. These may include, but are not limited to, future corporate development activities, restructuring of debt obligations on its balance sheet, and raising new capital.
ABOUT BELLROCK BRANDS:
BellRock Brands is a multi-state cannabis house of brands possessing one of the industry’s broadest product portfolios. BellRock offers more than 100 products via Dixie Brands™ and Mary’s Medicinals®. Dixie Brands™ is a leading edibles and beverage company. Mary’s Medicinals® is the leader in the cannabis health and wellness category. BellRock’s products are currently offered in 11 US states and Canada. BellRock is also home to Mary’s Nutritionals™ and Mary’s Tails™, and Mindset™. For more information, please visit www.bellrockbrands.com.
FORWARD-LOOKING INFORMATION AND STATEMENTS
The information provided in this press release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. All statements, other than statements of historical fact, made by the Company (or its predecessors) that address activities, events or developments that the Company expects or anticipates will or may occur in the future are forward-looking statements, including, but not limited to, statements preceded by, followed by or that include words such as "may", "will", "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "intends", "anticipates", "targeted", "continues", "forecasts", "designed", "goal", or the negative of those words or other similar or comparable words. Forward-looking statements may relate to future financial conditions, results of operations, plans, objectives, performance or business developments.
These statements speak only as at the date they are made and are based on information currently available and on current expectations and assumptions concerning future events, which are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from that which was expressed or implied by such forward- looking statements, including, but not limited to, risks and uncertainties related to: (i) the regulation of the medical and recreational marijuana industry in the United States, Canada, Mexico, Australia, New Zealand, Latin America and other countries in which the Company may carry on its business; (ii) the ability of the Company to obtain meaningful consumer acceptance and a successful market for its products on a national and international basis at competitive prices; (iii) the ability of the Company to develop and maintain an effective sales network; (iv) the success of the Company in forecasting demand for its products or services; (v) the ability of the Company to maintain pricing and thereby maintain adequate profit margins; (vi) the ability of the Company to achieve adequate intellectual property protection; (vii) the availability of financing opportunities, risks associated with economic conditions, dependence on management and conflicts of interest; and (viii) other risks described from time to time in documents filed by the Company with securities regulatory authorities.
With respect to the forward-looking statements contained herein, although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements as no assurance can be given that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including the risks described above.
Consequently, all forward-looking statements made in this press release are qualified by such cautionary statements and there can be no assurance that the anticipated results or developments will actually be realized or, even if realized, that they will have the expected consequences to or effects on the Company. The cautionary statements contained or referred to herein should be considered in connection with any subsequent written or oral forward-looking statements that the Company and/or persons acting on the Company's behalf may issue.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.
###
SOURCE BellRock Brands Inc.
For further information:
Media Inquiries or Investor Relations
BellRock Brands
Email: IR@bellrockbrands.com
Investor Relations
BellRock Brands Inc.
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