Ottawa, Ontario, Jan. 24, 2019 (GLOBE NEWSWIRE) -- THURSDAY, JAN. 24, 2019 - LiveWell Canada Inc. (LiveWell or the Company), (CSE: LVWL), a CBD life sciences company, today announced the appointment of David Rendimonti to its Board of Directors (the “Board”). Mr. Rendimonti will replace Richard Vickers who has stepped down from the Board.
As announced on December 3, 2018, LiveWell Canada signed a binding letter of agreement to merge with Vitality CBD Natural Health Products Inc. to become a new leader in the health and wellness market for CBD products (Merger Co). Following the completion of the merger, Mr. Rendimonti will be the CEO and a Director of the combined enterprise.
“David has been instrumental in LiveWell’s growth since joining the executive team,” said Tim McCunn, Chairman of LiveWell. “As we continue working towards completing our transformational merger with Vitality, David’s leadership and expertise will be invaluable to the Board.”
Mr. McCunn continued: “On behalf of the Board, I would also like to thank Richard for his contributions to our success.”
Mr. Rendimonti is a healthcare leader with a 30-year track record of building and leading top brands. Mr. Rendimonti has held senior roles at some of the world's most prominent organizations such as Johnson & Johnson, Pfizer and Wyeth Pharmaceuticals. He drove innovation within the Biotech and Women's Health markets in Canada and has extensive experience in global health and wellness markets.
Vitality, one of North America’s largest cultivators and producers of hemp CBD, and LiveWell, a cannabidiol (“CBD”) researcher, developer, marketer and distributor, will combine their U.S. and Canadian operations to address the anticipated growing demand for CBD and other cannabinoid products in North American and international markets.
About LiveWell
LiveWell is an innovative Canadian hemp and cannabis company focused on advanced research on CBD and other cannabinoids, as well as developing, marketing and distributing consumer health and wellness products.
Cautionary Note Regarding Forward-Looking Statements
This release includes forward-looking statements about the Company and its business. Often, but not always, forward-looking statements can be identified by the use of words such as “plan”, “continue”, “expect”, “schedule”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements (including negative variations) that certain events or conditions “may” or “will” occur. Such statements are based on the current expectations of management. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of unknown and known risk factors and uncertainties affecting the Company. Further, the Company cautions that this foregoing list of material factors is not exhaustive, and readers are encouraged to read all Risk Factors disclosed in the Company’s Management Discussion & Analysis dated October 26, 2018.
In respect of the forward-looking statements and information concerning the potential global CBD market, anticipated benefits and completion of the Merger, the Company has provided such statements and information in reliance on certain assumptions that it believes are reasonable at this time. Further, there can be no assurance that the Merger will occur, or that it will occur on the terms and conditions contemplated in the binding letter of agreement. Following the due diligence, the Merger could be modified, restructured or terminated.
The forward-looking information contained in this press release represents expectations of the Company as of the date of this press release and accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE LiveWell Canada Inc.
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