Business
Board and Strategy Changes, and Trading Update
Board and Strategy Changes, and Trading Update.
About this update from Chill Brands Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 2352L\n Zoetic International PLC\n 29 April 2020\n \n \n \n \n THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n \n \n \n \n \n \n 29 April 2020\n \n \n \n \n \n Zoetic International plc \n \n \n (\"Zoetic\" or the \"Company\") \n \n \n \n \n \n Board and Strategy Changes, and Trading Update\n \n \n \n \n \n Zoetic, the London listed vertically integrated CBD company, announces certain operational and organisational changes pursuant to a realignment in the strategic focus of the Company. Given the new strategic focus, Nick Tulloch and Paul Mendell, respectively Chief Executive Officer and Chairman of the Company, have resigned and that Trevor Taylor and Antonio Russo, respectively Chief Strategy Officer and Chief Revenue Officer of the Company, have been appointed as Directors and Co-CEOs. \n \n \n \n \n \n Highlights\n \n \n · \n Core CBD operations focused on Colorado - primarily the distribution of Chill branded products\n \n \n · \n Trevor Taylor and Antonio Russo appointed Co-CEOs\n \n \n · \n Nick Tulloch will continue to partner with Zoetic by leading a new joint venture in the UK\n \n \n ·\n Re-affirmation of the Company's commitment to exit the natural resources business with asset sale discussions well advanced\n \n \n · \n Confirmation that Zoetic's applications for over US$290,000 of Covid-19 loans have been approved\n \n \n \n \n \n Board and strategy changes\n \n \n As investors will be aware from previous announcements, Zoetic's largest immediate opportunities are centred on the US distribution prospects of its Chill brand products. To date, the most substantial distribution and revenue agreements come from that brand. Trevor Taylor and Antonio Russo have been able, in a few short months, to create well-received Chill branded product lines. Their ability to quickly secure major distribution contracts for the brand has given the Company great hope for further success.\n \n \n \n \n \n Given the importance of that business line and the operational focus of Zoetic, the Company c...