Wesley Ramjeet to Join Lobe Sciences’ Board of Directors, Bringing Decades of Strategic Financial Expertise

Rhea-AI Summary

Lobe Sciences (OTCQB: LOBEF, CSE: LOBE), a biopharmaceutical firm specializing in transformative medicines for rare diseases, has appointed Wesley Ramjeet to its Board of Directors. Ramjeet, CEO and Founder of PPMT Strategic Group, brings over two decades of strategic financial expertise, with notable achievements in acquisitions, IPOs, and growth initiatives across various industries. His leadership has driven significant growth and successful exits, including a 30x increase for MD Logic Wellness and a notable turnaround for a medical device company. CEO Philip J Young highlighted Ramjeet's strategic insights as key for Lobe's mission to advance innovative treatments for neurological disorders.

Ramjeet has also made significant contributions to the nonprofit sector, including founding Lions Unleashed and serving on the Board of Trustees for the Universal Hip Hop Museum. He is a CPA and holds a degree in Accounting from St. John’s University.

Positive

• Wesley Ramjeet joins Lobe Sciences' Board of Directors, enhancing strategic financial guidance.
• Ramjeet's leadership at PPMT Strategic Group resulted in significant growth, including 30x increase for MD Logic Wellness.
• Successful acquisitions and IPOs led by Ramjeet demonstrate his capability in driving growth.
• Ramjeet's experience spans multiple industries, including biotech, media, and entertainment.
• Lobe Sciences focuses on developing transformative treatments for rare neurological disorders, aligning with Ramjeet's expertise.
• Collaboration with industry-leading partners in drug research and development enhances Lobe's strategic position.

Negative

• Potential shareholder concern over reliance on new board member's strategies.
• Historical data from acquired companies may not guarantee future performance in the biopharmaceutical sector.
• Risk of financial and operational challenges during the transition period on the board.

Accomplished Investor and Serial Entrepreneur

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Lobe Sciences Ltd. (OTCQB: LOBEF) (CSE: LOBE) ("Lobe" or the "Company"), a biopharmaceutical company focused on developing transformative medicines to treat rare diseases today announced that Wesley Ramjeet has agreed to join its Board of Directors in the coming months. With over two decades of experience as a mission-focused leader, Ramjeet is recognized for his exceptional ability to navigate complex transactions including acquisitions, initial public offerings and reverse mergers, driving record growth for midcap, small businesses, and startups.

Wesley Ramjeet is the CEO and Founder of PPMT Strategic Group, a business advisory, CFO, management, investment, and accounting firm. At PPMT, Ramjeet has led multiple strategic initiatives, focusing on acquiring, operationalizing, growing, and selling startups across various industries, including media, entertainment, mining, and biotech. His leadership has consistently resulted in significant growth and profitable exits,

"We are excited to welcome Wesley Ramjeet to our Board of Directors," said Philip J Young CEO of Lobe Sciences. "Wesley's extensive experience and proven track record in strategic financial management and growth initiatives will be invaluable as we continue to advance our mission of developing innovative therapies to treat rare neurological disorders."

Ramjeet’s notable achievements include:

• MD Logic Wellness: Led the acquisition and operations in 2020, driving 30x growth and making it one of the fastest-growing premium supplement brands in the US.
• Medical Device Company.: Acquired IP in 2018, operationalized the IP, raised capital, brought the product to market, and entered 160 hospitals in 24 months, resulting in a 30x return within two years.
• MicroCap Magazine: Purchased in 2007, merged with StockNewsNow.com in 2014, and achieved 7x.
• Current Chairman of Stock News Now the parent company to Planet Microcap and the MicroCap Magazine.

Ernst & Young – Ramjeet spent the first six years as an Auditor and consultant in the Entrepreneur Group focusing on Tech, Bio Tech, Media, and Entertainment Companies IPOs and Corporate Advisory Services. The last three years Ramjeet split his time with EY Venture Capital Group that invested in companies that extended EY’s capabilities.

"I am honored to join the Board of Directors at Lobe Sciences," said Wesley Ramjeet. "The company’s dedication to developing transformative treatments for mental health and neurological disorders aligns with my passion for impactful innovation. I look forward to contributing to the company’s continued success and strategic growth."

In addition to his professional accomplishments, Ramjeet is a founding member of Lions Unleashed, a global 501(c)(3) nonprofit organization. Since the formation of Lions Unleashed, we have provided school supplies, sporting equipment, scholarships, and grants to over 20,000 kids and young adults.

Ramjeet served as a founding member of the Board of Trustees for the Universal Hip Hop Museum and led the financial strategy, controls, and fundraising strategy. The Universal Hip Hop Museum is the first of its kind in the world and will be opened in 2025.

Ramjeet holds a Bachelor of Science in Accounting from St. John’s University and is a Certified Public Accountant (CPA) in New York.

About Lobe Sciences Ltd.

Lobe Sciences is a biopharmaceutical company developing transformative medicines to treat rare diseases. The Company, through collaborations with industry-leading partners, is additionally engaged in drug research and development using non-hallucinatory doses of stabilized psilocin-based compounds to address unmet medical needs in orphan neurological therapeutic applications.

NEITHER THE CSE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

This does not constitute an offer to sell or a solicitation of offers to buy any securities.

Forward Looking Statements

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release (including, without limitation, statements regarding the future plans and objectives of the Company, research and development using psychedelic compounds, and the development of innovative devices and delivery mechanisms to improve mental health and wellness) are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including changes to the regulatory environment; that the Company's drug research and development activities may be unsuccessful; that drugs and medical devices produced by, or on behalf of, the Company, may not work in the manner intended or at all, and may subject the Company to product liability or other liability claims; that the Company may not be able to attain the Company's corporate goals and objectives; and other risk factors detailed in the Company's continuous disclosure filings from time to time, as available under the Company's profile at www.sedar.com. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable Canadian securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240603736614/en/

For further information please contact:

Lobe Sciences Ltd.

Investor and Media

ir@lobesciences.com

Tel: (949) 505-5623

Source: Lobe Sciences Ltd.

FAQ

Who is Wesley Ramjeet?

Wesley Ramjeet is the CEO and Founder of PPMT Strategic Group and has recently joined the Board of Directors at Lobe Sciences (OTCQB: LOBEF, CSE: LOBE).

What expertise does Wesley Ramjeet bring to Lobe Sciences?

Wesley Ramjeet brings over two decades of strategic financial expertise with a track record in acquisitions, IPOs, and growth initiatives.

How has Wesley Ramjeet impacted the companies he worked with before joining Lobe Sciences?

Ramjeet's leadership resulted in a 30x growth for MD Logic Wellness and a successful turnaround for a medical device company, entering 160 hospitals in 24 months.

What is Lobe Sciences' primary focus?

Lobe Sciences focuses on developing transformative medicines to treat rare neurological disorders using stabilized psilocin-based compounds.

What industries has Wesley Ramjeet worked in?

Wesley Ramjeet has experience in biotech, media, entertainment, mining, and other industries.

What is the impact of Wesley Ramjeet joining Lobe Sciences' Board of Directors?

Wesley Ramjeet's strategic financial insights are expected to advance Lobe Sciences' mission of developing innovative therapies for neurological disorders.