Demand Brands (DMAN) Announces New Board And Management Team

Rhea-AI Summary

Demand Brands, Inc. (DMAN) announced the onboarding of a new four-member board and management team, following the acquisition of CF3 SPVI, LLC. The new team brings over 35 years of combined experience in cannabis operations. DMAN aims to aggressively pursue acquisitions and joint ventures in anticipation of federal cannabis deregulation. Plans include establishing a wholesale and retail distribution trading desk, potentially generating $28 million annually. The company currently holds 236,000 square feet and 11 licenses for cultivation and processing, with plans for further expansion in Southern California.

Positive

• New management team has over 35 years of cannabis industry experience.
• Plans to generate $28 million in annual revenue through a trading desk.
• Currently holds 236,000 square feet and 11 licenses for cannabis cultivation and processing.
• Acquisition discussions for an additional 750,000 square feet facility to enhance market presence.

Negative

• None.

SANTA MONICA, CA / ACCESSWIRE / March 18, 2022 / Demand Brands, Inc. (OTC PINK:DMAN), ("Company" or "DMAN") http://dman.co, a leading cannabis operating business, hereby announces the official on boarding of a new 4 member board and management team. The new management team found, managed, and operated all businesses acquired by the Company as part of the recent acquisition of CF3 SPVI, LLC ("CF3"), announced on March 7, 2022, and boasts a combined industry experience of over 35 years in cannabis cultivation, processing, distribution, and marketing, dating back to when Proposition 215 legislation was introduced.

The hiring of the management comes at a time when DMAN is aggressively looking to acquire and joint venture with synergistic cannabis companies, especially in anticipation of federal deregulation of cannabis. "We are excited to manage and grow DMAN's operations into a leading cannabis business", said Andrew Colehower, the incoming Chief Executive Officer of the Company, "…our business plan is predicated upon integration, optimization, and innovation. We truly believe in the opportunity for consolidation in the industry and the need to institutionalize the business to optimize supply chain management. The incoming management recently set up a trading desk for wholesale and retail distribution generating $28Mn in revenue per annum. We plan to do the same for the Company as our first order of business, especially in anticipation of entering into an offtake agreement with a 700,000 SF pharma grade cultivator and grower shortly hereafter that will allow us to scale our distribution business to over 200,000 pounds of AAA grade cannabis in the next 18 to 24 months. Currently, we have 236,000 SF and 11 licenses for cultivation and processing and to grow the cultivation and processing side of our business we are also in conversations to acquire the same 750,000 SF facility which would allow us to integrate that relationship fully vertically under DMAN, expand our footprint to dominate the Southern California market share, fully leverage our access to over 250 retail stores through strategic partners, and institutionalize our operations to use best in class SOPs to produce only the highest-grade quality product. In the interest of optimizing our SOPs and further vertical integration, DMAN has exclusive rights to certain microbial technology patents that we will use to manufacture proprietary plant nutrients and crop protection solutions through a strategic partner. Similarly, we are also in conversations to enter another strategic partnership with a payment solutions technology company to build a POS platform for retail cannabis businesses."

Mr. Colehower further added, "A Chief Marketing Officer, a Chief Operating Officer and a Chief Agronomist will also join our executive team shortly."

The incoming Chief Financial Officer and the Chief Accounting Officer have spent the last 6 months compiling the financial and accounting records for the Company. "My foremost task as Chief Financial Officer of the Company is to file a Registration Statement with the U.S. Securities and Exchange Commission in Q2 of this year to access greater liquidity for our stakeholders through a U.S. or Canadian national exchange", said Ankur Chhapolika the incoming Chief Financial Officer of the Company.

The following executives have been hired by DMAN:

Andrew Colehower, Chief Executive Officer, a legacy member of the Viridi Farms executive team, started his career at the department of agriculture and environmental sciences at University, UC Davis. Most of his career he has focused on building companies and brands both in the United States and internationally. Some of his notable achievements include setting up a trading desk for World Variety Produce and growing it to an annual revenue of more than $20M per annum, similarly, he spearheaded the sales and distribution management for United Natural Foods Incorporated where he built and grew a national trading desk to $60M in top line revenue, and in Dominican Republic he led the sales and marketing team for Caribbean Liquid Sugar and secured product placement with 600 Walmart stores across the nation. Fast forward to 2015, Andrew took his brand management skills to the cannabis space and worked with California industry leaders to craft a plan for success. In 2019, Andrew shifted gears to run the Trading Desk for GrupoFlor, and in under one year, built it to generate 8-figure top line revenues through 20 new partnerships focused on supply line management, supporting local growers, and a 1.5 million+ square feet cultivation in the Salinas Valley.

Ankur Chhapolika, Chief Financial Officer, Ankur Chhapolika, is a Chartered Accountant and Company Secretary by profession. He has held executive management roles with notable companies, including Infosys, Deloitte and QuEST. His experience encompasses sale side advisory, mergers and acquisitions, capital raise, repatriation planning, ETR optimization strategies and PPA. He has been instrumental in advising on more than ten acquisitions spanning across US, UK, Australia, Germany, Romania, Japan and India. He has spearhead accounting and finance operations across a myriad of a capital raise efforts, most notably a capital raise of $350 Mn by QuEST from Bain Capital, GIC and Advent. Additionally, he has defended and represented tax assessments before tax authorities in USA, Italy, Spain, Japan and India.

Ankit Jain, Chief Accounting Officer, brings 7 years of experience in audit and assurance with Price Waterhouse Cooper, Ernst and Young, and KPMG. He holds experience in providing internal and external audit services in the Financial Services, Real Estate, Healthcare, and Banking industries. He has served as Senior Associate for MUFG Investor Services where he managed compliance and accounting for Blackstone Hedge Fund Services. He has extensive experience in designing and implementing accounting practices and managing the overall finance and accounting operations for mid to large-size companies.

Dawn Loos, Chief Compliance Officer, and Corporate Secretary, a legacy member of the Viridi Farms executive team, brings 20 years of experience in the cannabis and legal sectors. Her cannabis experience dates to the early Prop 215 days. Ms. Loos was instrumental in establishing the compliance and administrative procedures and systems for numerous vertically integrated and single use cannabis facilities. She has secured over 20 state and local licenses in multiple California counties including Mendocino, Santa Cruz, Calaveras, and Monterey. Facilities under her stewardship have been called "models of the industry" by city and state inspectors.

Deep Singal, Director of Business Development, brings 7 years of combined experience in business development and medical nutrition therapy. He has completed business development projects for various groups, including Kaiser Permanente, DaVita Kidney Care, and The American Heart Association.

About Demand Brands, Inc. The Company, AKA Pacific Technologies Group, Inc., is a vertically integrated cannabis operation that specializes in all stages of the seed to sale process for cannabis.

Cautionary Note Regarding Forward-Looking Information and Statements. This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes", "belief", "expects", "intends", "anticipates", "projects" "will", or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission.

Demand Brands, Inc.

PRESS CONTACT
ir@dman.co
+1 (415) 685-0317

SOURCE: Demand Brands, Inc.

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FAQ

What is the new management structure of Demand Brands, Inc. (DMAN)?

Demand Brands has appointed a four-member management team with extensive experience in the cannabis industry, including a new Chief Executive Officer, Chief Financial Officer, and Chief Accounting Officer.

What revenue does Demand Brands (DMAN) expect to generate with its new trading desk?

The company plans to establish a trading desk for wholesale and retail distribution, which is expected to generate $28 million in annual revenue.

How many licenses does Demand Brands (DMAN) currently have?

Demand Brands currently holds 11 licenses for cannabis cultivation and processing.

What are Demand Brands' (DMAN) expansion plans in the cannabis market?

The company plans to acquire an additional 750,000 square feet facility and enhance its market presence in Southern California.

When does Demand Brands (DMAN) plan to file for greater liquidity?

Demand Brands intends to file a Registration Statement with the U.S. Securities and Exchange Commission in Q2 of this year.