BioHarvest Sciences Inc. (CSE: BHSC) (the “Company”) today announces the appointment of Mr. Ilan Sobel as Chief Executive Officer replacing Dr. Zaki Rakib in this role. Dr. Rakib will assume the new positions of President and Chairman of the Board of Directors and, in this capacity, Mr. Dave Ryan, previously President, will assume the role of Vice President of Investor Relations. Mr. Sobel’s appointment and the changes listed above are effective immediately.
“BioHarvest Ltd.’s merger with Canna-V-Cell Sciences Inc., completed in late March, creates an excellent opportunity for the company to leverage its proprietary bioagriculture technology across multiple verticals, including cannabis and nutraceuticals,” said Dr. Zaki Rakib, and added, “Opportunities like these require the best management team to respond to them. BioHarvest is fortunate to have Ilan Sobel as CEO to lead the company at such an important crossroads. Ilan brings extensive hands-on experience, business acumen, and leadership expertise in building large-scale businesses and billion-dollar brands, delivering margin-enhancing business innovations and improving the productivity of some of the biggest industry leaders in various markets. On behalf of the Board and management, I welcome Ilan to the team and look forward to partnering with him on our exciting journey of building the business of BioHarvest Sciences.
“I am honored and grateful to have this opportunity to lead a great team with such a technology platform that has the real ability to positively impact the lives of millions of consumers,” said Ilan Sobel and, continued, “I look forward to building on the early success of VINIA®, one of the world’s first sugar-free, calorie-free natural vasodilators and in the future, after the completion of our critical R&D work, have the ability to changing the cannabis market with the constant and seamless supply of cannabis at a fraction of the industry’s current cost.
Ilan Sobel brings to the company extensive experience in general management, international sales and marketing, manufacturing and operations. For the past 6 years, Ilan served as Chief Operating Officer and then Chief Commercial Officer of Weissbeerger, where he played a leading role in building a disruptive BIG Data, IOT and software company. serving major beverage players which was recently acquired by Anheuser Busch InBev. . Previously, Ilan served 18 years as a global employee of The Coca-Cola Company, where he played a pivotal role in key leadership positions driving significant revenue and profit growth and improving healthcare trends. of the brand in various global markets, including the United States, China, Hong Kong, Taiwan, Thailand, Singapore, Malaysia, Vietnam, Philippines and South Africa.
Pursuant to a consulting agreement dated June 1, 2020 by reference, the Company will pay Mr. Sobel consulting fees of $34,547 per month subject to annual increases over the 3-year term of the agreement and an annual performance-based bonus. The Company has also agreed to grant Mr. Sobel options to acquire an aggregate of 18,098,196 common shares of the Company at a price of $0.14 per share. The options will be exercisable for a period of 10 years and will vest quarterly over the term of the consulting agreement.
About BioHarvest Sciences Inc.
Based in Vancouver, British Columbia, BioHarvest Sciences Inc. is the exclusive developer and owner of proprietary, patent-protected Biofarming technology. It is the first and only industrial large-scale plant cell growth technology capable of directly and constantly producing plant active ingredients without the need to grow the plant itself. The technology has already been validated by Vinia, the functional food/food supplement based on red grape cells produced and sold by BioHarvest. By adapting this technology to the cannabis plant and building adequate cell production capacity, BioHarvest Sciences Inc.’s goal is to become the leading supplier of cannabis for legal medical and recreational use. See the following hyperlink for a visual description of our Biofarming technology: https://www.youtube.com/watch?v=c7pxqAoTf5g
BioHarvest Sciences Inc.
Dr Zaki Rakib
Chairman and Chairman of the Board
For more information, please contact:
Dave Ryan, Vice President of Investor Relations and Director
Telephone: 1 (604) 622-1186
Forward-Looking Statements The information in this press release contains forward-looking statements based on assumptions as of the date of this press release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of important factors, many of which are beyond the Company’s control. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied by the forward-looking information. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking information.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
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