Colorado Springs, CO, Jan. 08, 2019 (GLOBE NEWSWIRE) -- Doyen Elements International, Inc., a burgeoning network of vertically integrated cannabis businesses, announces its rebranding and renaming itself to Covalent Collective, Inc. (“Covalent Collective” or the “Company”). In addition, the Company announced Bill Gregorak as Chief Executive Officer, effective immediately. Prior to being named CEO, Mr. Gregorak served as Chief Financial Officer of Covalent Collective since February 2018. Mr. Gregorak takes over as CEO from Geoffrey Thompson, a co-founder of Covalent Collective, who will continue as leader of merger and acquisitions.
“The cannabis industry is evolving even more rapidly than any of the experts expected, and Covalent Collective’s value proposition differentiates us in a crowded marketplace. Over the coming weeks, months and years, the vision we have will yield tremendous shareholder value, and position us for exponential growth,” said Mr. Thompson. “We are confident that the rebrand and name change to Covalent Collective effectively aligns with our core mission of building out a vertically integrated network of unique cannabis enterprises. It also allows us to capitalize on this rapidly expanding market by providing a means to greatly enhance and accelerate our partners’ growth potential. As we continue to grow Covalent Collective, we will focus our efforts on both organic growth and strategic acquisitions.”
In his role, Mr. Gregorak will direct all business units and strategy for Covalent Collective. Mr. Gregorak will also oversee the execution of the Company’s rebranding and acquisition strategy of plant-touching enterprises that grow, process and sell cannabis products.
“As a seasoned executive, Bill Gregorak brings to bear more than two decades of public company experience. Coupled with his broad background in managing relationships with customers, partners and investors, Bill has the right combination of skills and experience to lead our company and senior management team,” added, Mr. Thompson. “Throughout the search process, Bill’s unique skill set stood out as the best candidate for the CEO position and we are thrilled to have him lead us into our next level of growth and expansion.”
Prior to joining Covalent Collective, Mr. Gregorak served as CFO for publicly traded companies on both the NASDAQ and the OTC markets including Two Rivers Water and Farming, a company that builds and leases greenhouses optimized for marijuana cultivation and also specializes in the development of water resources for municipal, commercial and agricultural usage in Southwest Colorado. Mr. Gregorak also spent nearly 20 years with tech giant Hewlett-Packard in various financial and operational capacities.
“Before taking Covalent Collective to the next level, we needed to develop a more sophisticated brand, one that better reflects our mission,” said Mr. Gregorak. “As we take this next step, our goal is to provide tremendous value to our partners, investors and potential shareholders. In order to achieve this, we are confident that a diversified, innovative collective of vertically integrated cannabis enterprises will allow us to optimize efficiency across the entire cannabis ecosystem.”
About Covalent Collective:
Covalent Collective, Inc. is a British Columbia, Canada company founded in 2014 and headquartered in Colorado Springs, CO. The Company is building a diverse network of vertically integrated cannabis-centric enterprises that span the entirety of the legal cannabis and hemp industries. With a vision to build the largest grow capacity in the U.S., Covalent Collective’s mission is to create stronger bonds throughout the greater cannabis community through the execution of a strategic acquisition and joint venture strategy that is strategically positioned to support eventual federal legalization in the United States. For more information, please visit https://covalentcannabis.com.
Media Contacts:
Nick Opich / Cynthia Salarizadeh
KCSA Strategic Communications
(212) 896-1206 / (856) 425-6160
nopich@kcsa.com / cynthia@kcsa.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and “forward- looking information” within the meaning of Canadian securities laws, or collectively, forward-looking statements. Forward-looking statements in this press release may be identified by the use of words such as “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, including statements with respect to the Company’s rebranding and acquisition strategies. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment and future approvals and permits. Actual results, performance or achievements could differ materially from those expressed in, or implied by, any forward-looking statements in this press release, and readers should not place undue reliance on any such forward-looking statements since they are not guarantees of future results. The Company does not undertake and specifically declines any obligation to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.