Judge Jim Gray (Ret.) Elected Chairman, Trevor Reed Elected to Board of Directors, KUSH Spinoff Completed as Gary Johnson Pursues Political Opportunities
January 04, 2016 at 04:00 AM EST
MESQUITE, NV / ACCESSWIRE / January 4, 2016 / Cannabis Sativa Inc. (OTCQB: CBDS) announces that Gary Johnson is resigning as Director and CEO of Cannabis Sativa, Inc. to pursue political opportunities. "I've enjoyed working with CBDS, and am confident of the future successes of the company and the cannabis industry and I'm confident that legal cannabis is a societal good", said Governor Johnson.
Newly elected Chairman of the Board Judge Jim Gray (Ret.) said, "On behalf of the Board of Directors, we wish Governor Johnson the greatest success in 2016 and immensely appreciate the work he has done at the helm of CBDS."
Interim CEO David Tobias, said; "I look forward to carrying on the efforts and corporate direction of Governor Johnson to realize the eventual success of the company. Governor Johnson's legacy, which built a firm foundation for CBDS includes the "hi" branding IP that Forbes called the best in the industry and consummating the KUSH spinoff. And we are pleased with Judge Jim Gray (Ret.) accepting the Chairman's position as he has the scope of experience to give CBDS a strategic advantage in an emerging market with a myriad of legal challenges."
Interim CEO Tobias' experience in the cannabis business sector included a successful Vice Presidency of the first publicly traded cannabis company in the United States, Medical Marijuana, Inc. where he brokered the merger of MJNA and CannaBank. He subsequently co-founded and became President of Hemp Inc. and served in that capacity for two years. Tobias went on to form Cannabis Sativa, Inc. and served as President prior to Governor Johnson's term.
Cannabis businessman Trevor Reed has been elected to the CBDS Board of Directors which includes Independent Directors Senator Mike Gravel, former LAPD Deputy Chief Stephen Downing, and cannabis industry pioneer and HIGH TIMES Freedom Fighter of the Year 2011-2012 Debby Goldsberry. Trevor Reed recently added the "hi" branding to his Portland, Oregon cannabis dispensary. Mr. Reed also has cannabis dispensary operations in New Mexico. The CBDS Board of Directors have the utmost credibility and decades of industry knowledge, on both sides of the issues, to give the CBDS Board the optimal experience to guide the Company through the regulatory challenges ahead in 2016 and beyond.
The CBDS board has appointed a subcommittee led by Senator Gravel, Chairman Gray and CEO Tobias to conduct the search and vet new candidates for the Executive Position. The process has already begun and will continue until the best candidate emerges.
KUSH spinoff update: The Company is proud to announce that KUSH has received a CUSIP number and that registered shareholders will receive book entry statements in January of 2016. The Record Date was set as of November 16, 2015.
Paper certificates will be mailed out to holders of record beginning in January 2016. Shareholders holding CBDS shares in brokerage accounts are encouraged to check with their broker for information on their KUSH positions.
DIVIDEND Update: The Company is currently waiting on FINRA for the approval notice regarding the 1.5 for 1 share Dividend (Forward Split) and will inform shareholders as soon as the Company receives notice
Cannabis Sativa, Inc. is in the business of branding and licensing via its "hi" intellectual properties. The Company also offers the Wild Earth Naturals line of CBD Water and cosmetic products which are designed to use organic and natural ingredients, including CBD and hemp seed oil. The Company is engaged through its subsidiaries, Wild Earth Naturals and "hi" Brands International, Inc., in the research, development and licensing of specialized natural products, including formulas, edibles, topicals, recipes, and delivery systems. Look for "hi" Releaf products in Washington State and visit the "hi" dispensary in Portland, Oregon.
This news release contains "forward-looking statements." Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
SOURCE: Cannabis Sativa, Inc.