CDB Global Announces Change of Chief Financial Officer

Rhea-AI Summary

CBD Global Sciences Inc. (OTC: CBDNF) announced the resignation of Chief Financial Officer Alexander McAulay, effective April 14, 2022. Glenn Dooley has been appointed as the interim CFO, also serving as a director and COO. Dooley is an experienced entrepreneur with a background in management and finance. The company focuses on utilizing the Industrial Hemp plant to offer various CBD products, including oils, capsules, and topicals, through its subsidiaries. Global Sciences has plans to expand its distribution network significantly over the next 12-24 months.

Positive

• Appointment of Glenn Dooley as interim CFO may bring stability due to his extensive experience.
• Plans to expand distribution to over 5,000 stores within the next 12-24 months can significantly enhance revenue potential.

Negative

• None.

DENVER, CO, April 26, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- CBD Global Sciences Inc., dba Global Sciences Inc. (OTC: CBDNF) (CSE: CBDN) (Frankfurt: GS3.F) (Munich: GS3.MU) (the "Company") announced that Mr. Alexander McAulay tendered his resignation as Chief Financial Officer (“CFO”) of the Company effective April 14, 2022.

The Company also announced that Mr. Glenn Dooley has been appointed as the interim Chief Financial Officer of the Company effective April 14, 2022.  Mr. Dooley is also a director and Chief Operating Officer of the Company.  He was a co-founder of Strasburg Pharms, LLC, SMBT, LLC and CannaOil, Inc., all wholly-owned subsidiaries of Global NV. He is also a co-founder/co-owner, broker and operations manager of MAC5 Mortgage, Inc. which he founded with Brad Wyatt in 2006. Mr. Dooley has an undergraduate degree from Colorado College in Colorado Springs and brings to the team a breadth of knowledge and experience in management and finance, coupled with effectively operating in a growing entrepreneurial environment.

ABOUT GLOBAL SCIENCES INC.

CBD Global Sciences, Inc., dba Global Sciences Inc. has become a multifaceted company focused on utilizing the Industrial Hemp plant to create a Healthier Way of Living. Its website can be found at www.globalsciences.ca. Global Sciences, Inc. is a hemp-based CBD producer and branding investment vehicle which currently owns multiple brands like the name Aethics™ www.aethics.com and CANNAOIL™ www.cannaoilshop.com, offering CBD Oil tinctures (liquid products), CBD capsules, CBD topicals, Hydration products, and confectionery products. Global Sciences hemp-derived CBD extracts are sold online through select distributors and brick-and-mortar retailers.

Through its wholly-owned subsidiaries, Global Sciences Holdings, Resinosa LLC, www.resinosa.com, and Legacy Distribution Group, www.legacydistributiongroup.com, Global Sciences is delivering quality CBD products in retail and e-commerce formats nationwide. The Direct Store Delivery (DSD) provides distribution services for multiple vendors of CBD-infused products and non-CBD products throughout the Colorado and Wyoming territories servicing over 750 C-store and large box retailers with expansion plans to exceed 5,000 stores in the next 12-24 months. In addition to Legacy Distribution, it has a manufacturing division, Resinosa LLC www.Resinosa.com, with its capabilities to provide cGMP manufacturing to the CBD industry with both private label and white label CBD and non-CBD product lines.

For further information, don’t hesitate to contact Investor Relations at 720-881-2541 or email info@globalsciences.com. You can also go to www.globalsciences.ca for more information about Global Sciences.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to future developments and the business and operations of the Corporation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties; and delay or failure to receive board, shareholder or regulatory approvals. Readers should not place undue reliance on forward-looking statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

FAQ

Who resigned as CFO of CBD Global Sciences Inc.?

Alexander McAulay resigned as CFO effective April 14, 2022.

Who is the interim CFO of CBD Global Sciences Inc.?

Glenn Dooley has been appointed as interim CFO effective April 14, 2022.

What are the future plans for CBD Global Sciences Inc.?

The company plans to expand its distribution to over 5,000 stores in the next 12-24 months.