Business
James E. Wagner Cultivation Announces Appointment of New Independent Director
James E. Wagner Cultivation Announces Appointment of New Independent Director.
About this update from James E Wagner Cultivation Corp
[{"type":"text","content":"\n KITCHENER, Ontario, March 11, 2020 (GLOBE NEWSWIRE) -- James E. Wagner Cultivation Corporation (“JWC” or the “Corporation”) (TSX: JWCA.V; OTCQX: JWCAF), is pleased to announce that the board of directors of JWC (the “Board”) has appointed Howard Steinberg as an additional director of the Corporation effective March 10th. The JWC Board will now consist of six members in total. Mr. Steinberg has been nominated to act as a director of the Board by Trichome Financial Corp. (“Trichome”) pursuant to the terms of the previously announced loan agreement between JWC and Trichome dated February 19, 2020. Nathan Woodworth, the President and Chief Executive Officer of JWC, said: “we are very pleased to have Mr. Steinberg join the board and we are confident that his experience and expertise will help the company as we continue our journey to grow”. Mr. Steinberg brings more than 25 years of experience in private credit, private equity and real estate investing, having served as a Managing Director of Fortress Investment Group, President of The Rose Corporation, Senior Vice President at GE Capital, and Managing Director with RBC Capital Partners. He currently sits on numerous boards and board committees, including Trichome’s Board, Audit and Compensation committees, aside from running his own real estate funds. Concurrent with his appointment, the Board has authorized and approved 100,000 incentive stock options (the “Stock Options”) be granted to Mr. Steinberg under its incentive stock option plan. The Stock Options have an exercise price of CAD$0.13 per share, vest immediately upon the date of grant and have an expiry date of March 9, 2025. About James E. Wagner Cultivation Corporation James E. Wagner Cultivation Corporation’s wholly owned subsidiary is a Licensed Producer under the Cannabis Regulations, formerly the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). JWC is a premium cannabis brand, focusing on producing clean, consistent cannabis using an advanced and proprietary aeroponic platform named GrowthSTORM™. JWC began as a collective of patients and growers under the Marihuana Medical Access Regulations (the precursor to ACMPR). Since its inception, JWC has remained focused on providing the best poss...