Glow LifeTech Announces Appointment of David Côté to Board of Directors

Rhea-AI Summary

Glow LifeTech Corp. (CSE: GLOW) (OTCQB: GLWLF) has appointed David Côté as a new independent director to its Board of Directors, effective January 24, 2025. Côté, currently CEO of J. Supply Holdings Inc., brings extensive cannabis retail experience, having previously served as Director of Retail Strategy at Canopy Growth where he developed the franchise model for retail cannabis stores across Canada.

The company granted Côté 250,000 stock options exercisable at $0.065 per share for five years. Additionally, James Van Staveren has stepped down from his positions on the Audit Committee and as Corporate Secretary while remaining a board director. Côté will join the Audit Committee, and CFO Josh Bald has been appointed as Corporate Secretary.

Positive

• Appointment of experienced cannabis retail executive with proven track record in scaling operations
• Strategic addition to support Canadian retail distribution expansion plans

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - January 27, 2025) - Glow LifeTech Corp. (CSE: GLOW) (OTCQB: GLWLF) (FSE: 9DO) ("Glow" or the "Company") is pleased to announce the appointment of David Côté as a new independent director to the Board of Directors (the "Board"), effective January 24, 2025.

Mr. Côté is a seasoned leader in the cannabis retail industry, with extensive experience scaling retail operations and driving growth. David currently serves as Chief Executive Officer of J. Supply Holdings Inc., which owns the cannabis retail banners Northern Helm and J. Supply Co. Prior to this, David was Director of Retail Strategy at Canopy Growth Corporation, where he developed the model for franchising retail cannabis stores across Canada. These endeavours are built on a career in retail, leveraging learnings from the quick-service restaurant, consulting, and CPG industries to the cannabis space, having spent time at RBI, Accenture, and SC Johnson. David earned his MBA and HBA from the Ivey School of Business.

"We are thrilled to welcome David to our Board of Directors," said Rob Carducci, CEO & Director of Glow Lifetech. "His extensive experience in the cannabis retail landscape and proven ability to execute large-scale retail strategies will be invaluable as we focus on expanding our distribution across the Canadian cannabis retail market, a core pillar of the Company's growth strategy. We look forward to leveraging his insights and leadership to accelerate our growth initiatives and drive long-term value for our shareholders."

In connection with his appointment, the Company has granted 250,000 stock options (the "Options") to Mr. Côté. Each Option is exercisable at a price of $0.065 for one common share of the Company (each a "Common Share") for a period of five years from the date of grant and are being issued under the terms of the Company's Omnibus Long-Term Incentive Plan. The Options, and any Common Shares issued upon exercise of the Options, are subject to a four-month and one day resale restriction from the date of grant.

The grant of Options to David Côté is a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in section 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation.

The Company also wishes to announce that James Van Staveren has resigned from his position as a member of Glow's Audit Committee and as Corporate Secretary, effective January 24, 2025. Mr. Van Staveren will remain as a director on the Board. Glow would like to sincerely thank Mr. Van Staveren for his valuable services to the Company in his capacity as a member of Glow's Audit Committee and as Corporate Secretary. Effective January 24, 2025, Mr. Côté has been appointed to Glow's Audit Committee and Josh Bald, the Company's Chief Financial Officer, has been appointed as Corporate Secretary.

SUBSCRIBE: For more information on Glow or to subscribe to the Company's mail list visit: https://www.glowlifetech.com/news

About Glow LifeTech Corp.

Glow LifeTech is a Canadian-based biotechnology company focused on producing nutraceutical and cannabinoid-based products with dramatically enhanced bioavailability, absorption and effectiveness. Glow has a groundbreaking, plant-based MyCell Technology® delivery system, which transforms poorly absorbed natural compounds into enhanced water-compatible concentrates that unlock the full healing potential of the valuable compounds.

Website: www.glowlifetech.com

Contact:
Rob Carducci, CEO
Glow LifeTech Corp.
TF. 855-442-GLOW (4569)
ir@glowlifetech.com

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238538

FAQ

What stock options were granted to David Côté by GLWLF in January 2025?

David Côté was granted 250,000 stock options exercisable at $0.065 per share for a five-year period, subject to a four-month and one day resale restriction.

What is David Côté's experience in the cannabis industry before joining GLWLF?

David Côté serves as CEO of J. Supply Holdings Inc. and was previously Director of Retail Strategy at Canopy Growth , where he developed the model for franchising retail cannabis stores across Canada.

What management changes occurred at GLWLF on January 24, 2025?

James Van Staveren resigned as Audit Committee member and Corporate Secretary, David Côté was appointed to the Audit Committee, and CFO Josh Bald became Corporate Secretary.

How does David Côté's appointment align with GLWLF's growth strategy?

Côté's appointment aligns with Glow LifeTech's strategy to expand distribution across the Canadian cannabis retail market, leveraging his extensive experience in scaling retail operations.