Humble & Fume Inc. Appoints New Chairman of the Board: Jakob Ripshtein, CEO of Perennial Brands Inc

Rhea-AI Summary

Humble & Fume Inc. has appointed Jakob Ripshtein as the new Chairman of the Board effective Nov. 30, 2021. Ripshtein, previously President of Aphria (now Tilray) and Diageo Canada, brings extensive experience in the cannabis and beverage industries. He aims to guide Humble’s growth strategy, focusing on the U.S. cannabis distribution market. Former Executive Chairman Shawn Dym will remain on the Board. This leadership change is expected to enhance Humble’s position in the North American cannabis market.

Positive

• Jakob Ripshtein's extensive background in cannabis and beverage industries is anticipated to strengthen Humble's leadership.
• The company is well-positioned for growth in the U.S. cannabis distribution market.
• Ripshtein's experience at Aphria and Diageo may provide valuable insights for Humble's strategy.

Negative

• Transitioning leadership may lead to initial disruption in strategic execution.
• Concerns about continuity and experience gaps during the leadership change.

• Jakob Ripshtein is the former President of Aphria Inc. and Diageo Canada.
• Mr. Ripshtein brings a wealth of experience and knowledge of the cannabis and beverage alcohol market, including finance, sales and supply chain logistics.

TORONTO, Nov. 30, 2021 /PRNewswire/ - Humble & Fume Inc. (CSE: HMBL) ("Humble" or the "Company"), a leading North American distributor of cannabis and cannabis accessories, is proud to announce the appointment of Jakob Ripshtein as Chairman of the Board (the "Board") effective today. Mr. Ripshtein succeeds outgoing Executive Chairman, Shawn Dym, Principle at York Plains Investments, who remains on the Board.

Mr. Ripshtein is the Chief Executive Officer of Perennial Brands Inc, a full life-cycle brand strategy organization, which has worked with cannabis clients such as The Supreme Cannabis Company, Inc. and Cannovate. Prior to Perennial, Mr. Ripshtein was the President of Aphria Inc. ("Aphria"), now Tilray, Inc., a leading global cannabis-lifestyle consumer packaged goods company, where he was responsible for the company's sales, marketing, and commercial strategy.

"I had the pleasure of working closely with Jakob during our time together at Aphria. It was there that I witnessed first-hand his leadership and experience in building a global consumer packaged goods company. We are fortunate to have his knowledge and expertise in guiding Humble as we execute upon our growth strategy and goal of becoming the leading cannabis distribution company in North America," Joel Toguri, Chief Executive Officer of Humble. "We would also like to thank Shawn for his tenor as Executive Chairman. Shawn continues to support the strategy and vision for Humble and we look forward to continuing to work closely together."

Mr. Ripshtein brings a wealth of experience gained during his tenure at Diageo North America, the world's leading premium beverage organization. Mr. Ripshtein worked in several markets before becoming the President of Diageo Canada. Mr. Ripshtein joined the Board in June 2021 following's Humble's public listing on the Canadian Securities Exchange, where he also serves on the Audit Committee and Compensation and Corporate Governance Committee.

"I'm excited to expand my role with Humble's Board during such an exciting time for the Company. As the company expands into cannabis distribution in the U.S., we are well positioned to deliver long-term shareholder value," said Jakob Ripshtein. "I want to thank Shawn for his outstanding governance and look forward to shaping the future of Humble together."

"While at Aphria, Jakob was at the forefront of developing a business strategy that viewed the cannabis market as a consumer packaged good. Leaning on his experience from Diageo, he was able to see where the market would eventually lead. The experience and leadership he will bring as Chairman will be crucial for Humble during this next phase of growth as the Company ushers in a new model for cannabis distribution," said Shawn Dym.

During his career, Mr. Ripshtein held a variety of roles in finance, sales and strategy in Canada, the U.S. and in Europe. Earlier in his career Mr. Ripshtein oversaw business, sales and tax functions in the Canadian spirits, pharmaceutical and financial sectors. Mr. Ripshtein holds a Bachelor of Business Administration from York University, as well as a CPA and International Tax designation.

About Humble & Fume Inc.

Humble & Fume Inc. is a leading North American distributor of cannabis and cannabis accessories, supported by a customer-centric sales team and strong fulfillment infrastructure. As the only fully-integrated cannabis distribution solution, Humble bridges the gap for retailers, licensed cannabis producers, multi-state operators, and cannabis consumers to maximize sales penetration, and increase financial performance. With over 20 years of North American operating experience, Humble has cultivated extensive vendor and customer relationships, distributing premium cannabis consumables and consumption devices. The Company is comprised of four subsidiaries that represents its vertical integration across North America: B.O.B. Headquarters Inc. / Humble+Fume, Windship Trading LLC, Humble+ Cannabis Solutions and Fume Labs Inc.

Forward-Looking Information and Statements.

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's future strategic plans, including entering the market for distribution of cannabis in the United States. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "intends", "contemplates", "believes", "projects", "plans" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Statements about, among other things, Humble & Fume Inc.'s strategic plans including future growth opportunities and strategies in the United States are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such forward-looking statements will occur as described herein. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances or actual results unless required by applicable law. Readers are encouraged to refer to the Company's disclosure available on its SEDAR profile (at www.sedar.com) for information as to the risks and other factors which may effect the Company's business objectives and strategic plans.

View original content:https://www.prnewswire.com/news-releases/humble--fume-inc-appoints-new-chairman-of-the-board-jakob-ripshtein-ceo-of-perennial-brands-inc-301433367.html

SOURCE Humble & Fume Inc.

FAQ

Who is Jakob Ripshtein and what is his previous experience related to HUMBF?

Jakob Ripshtein is the new Chairman of the Board for Humble & Fume Inc. He has served as President of Aphria Inc. and Diageo Canada, bringing significant industry experience in cannabis and beverage sectors.

What impact will Jakob Ripshtein's appointment have on HUMBF's growth strategy?

Ripshtein's leadership is expected to enhance Humble's growth strategy, particularly as the company expands into the U.S. cannabis distribution market.

What position did Shawn Dym hold before Jakob Ripshtein's appointment at HUMBF?

Shawn Dym was the Executive Chairman of Humble & Fume Inc. before Jakob Ripshtein's appointment and remains on the Board.

When was Jakob Ripshtein appointed as Chairman of the Board for HUMBF?

Jakob Ripshtein was appointed as Chairman of the Board effective Nov. 30, 2021.