Galexxy Holdings Appoints a New Chairman and CEO

Rhea-AI Summary

Galexxy Holdings Incorporated (OTC: GXXY) announced the appointment of Mr. Iain G. Saul as Chairman and CEO following its acquisition of Wellbeing Farms LLC. Mr. Saul, an experienced businessman, will leverage his expertise in product development and market capitalization to drive growth. His recent financial support and plans for developing unique Functional Mushroom and CBD-Mushroom products highlight a strategic focus on premium CBD markets. Mr. Ross Lyndon-James will transition from CEO but remain involved in company development, including moving from OTC Pink Sheets to an OTC Regulated Market.

Positive

• Appointment of Iain G. Saul as Chairman and CEO expected to bring fresh perspectives and leadership.
• Mr. Saul's financial backing indicates strong support for company growth.
• Focus on unique Functional Mushroom and CBD products aligns with market demand.

Negative

• Transition in leadership may raise concerns about continuity and experience gaps.

Newport Beach, CALIFORNIA, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Galexxy Holdings Incorporated ("Galexxy" or "the Company") (OTC: GXXY) is pleased to announce that following its recent acquisition of Wellbeing Farms LLC., the Company has appointed Mr. Iain G. Saul as its Chairman and Chief Executive Officer.

Mr. Saul is an internationally experienced and financially successful businessman with an extensive background in bringing new products to market through companies he has personally formed, funded and successfully capitalized through trade sales or public listing which established this Company on the OTC in 2007.

Mr Saul has recently provided funding to the Company. He has also been the financier behind the development of Wellbeing Farms LLC, a company with a unique marketing plan specializing in the production and sale of specially formulated Functional Mushroom and CBD-Mushroom combination products. Galexxy and Wellbeing Farms became associated when they shared Galexxy’s product development and manufacturing facilities in Murietta, California.

Galexxy is pleased to welcome Mr Saul to its board in the roles of Chairman and CEO as he brings a depth of both financial and public markets knowledge, as well as international business experience to support Galexxy’s exciting growth plans for large scale business development.

Mr Ross Lyndon-James, who represents a shareholding of over 25% of Galexxy held by RxMM Health Limited and his associated companies will step aside from his role as CEO.  He will remain actively involved with Galexxy as he works closely with Mr Saul to assist the continued development of the Company, including completion of the Company’s Audit and SEC Filings in order to move Galexxy from the OTC Pink Sheets Market to an OTC Regulated Market.  

Headquartered in Newport Beach, California with its manufacturing facilities in Murietta, California, Galexxy’s shares are publicly traded on the OTC Markets (OTC: GXXY). Galexxy entered the rapidly developing markets for premium CBD consumer products through its acquisition of Galexxy Corp in April 2021.

Galexxy Holdings Inc.
Ross Lyndon-James
E: ross@galexxy.com
M: (949) 456 3972

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “statements”). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release.

www.wellbeingfarms.com

https://twitter.com/GXXYHoldings

Attachment

• Galexxy Holdings Appoints Mr. Iain G. Saul as its Chairman and Chief Executive Officer

FAQ

What are the implications of Mr. Iain G. Saul's appointment as CEO for GXXY?

Mr. Iain G. Saul's appointment as CEO is expected to introduce new leadership perspectives and drive growth in product development for GXXY.

How will Galexxy Holdings benefit from its acquisition of Wellbeing Farms LLC?

The acquisition aims to enhance Galexxy's product offerings in the rapidly growing CBD market through specialized Functional Mushroom products.

What are the plans for Galexxy Holdings moving from OTC Pink Sheets to an OTC Regulated Market?

Galexxy intends to complete necessary audits and SEC filings to transition to an OTC Regulated Market, which could enhance its market visibility and credibility.

What role will Ross Lyndon-James play after stepping down as CEO of GXXY?

Ross Lyndon-James will remain involved with Galexxy, assisting Mr. Saul in company development and the transition process.

What financial support has Mr. Iain G. Saul provided to Galexxy?

Mr. Iain G. Saul has recently provided funding for Galexxy, indicating financial confidence in the company's growth strategy.