GrowLife, Inc. Taps VC Veteran David Dohrmann as New President
GrowLife, Inc. (OTC: PHOT) announced the appointment of David Dohrmann as President, bringing extensive venture capital and public company experience. CEO Marco Hegyi emphasized Dohrmann's potential to drive corporate growth and capitalize on new market opportunities, especially in mushroom cultivation. Following a successful shareholder meeting, Marco Hegyi will serve as interim CFO after Michal Fasci's resignation. This leadership transition marks GrowLife's strategic entry into the mushroom industry, enhancing its mission to become a leader in organic and plant-based cultivation services in the U.S.
- Appointment of David Dohrmann as President to drive growth initiatives.
- Strategic entry into the mushroom cultivation market through a supplier agreement.
- Resignation of CFO Michal Fasci raises concerns about financial management stability.
KIRKLAND, Wash., Dec. 07, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – GrowLife, Inc. (OTC: PHOT) (“GrowLife” or the “Company”), one of the nation’s most recognized indoor cultivation product and service providers, today announced various executive changes including the appointment of David Dohrmann as the Company’s new President.
Mr. Dohrmann has extensive experience in the venture capital industry as well as executive roles in the entertainment space. Mr. Dohrmann’s public company experience and knowledge of investment banking, corporate development, institutional sales, venture capital, his focus and work with public small and microcap companies, and as an operating executive, will provide GrowLife with valuable perspective and guidance for corporate development initiatives as President of the Company.
"Dave brings the right tools at the right time to GrowLife,” said Marco Hegyi, Chief Executive Officer of GrowLife. “He is financially creative and resourceful and has the business acumen needed to capitalize on new market opportunities for GrowLife, including our most recent expansion into offering mushroom cultivation equipment and supplies.
“I could not be more enthusiastic for my new role and opportunity here at GrowLife,” said David Dohrmann, newly appointed President of GrowLife. “I have had my eye on the burgeoning cannabis industry for years as I believe the market opportunity for plant-based wellness and consumer products has never been greater. As President of GrowLife I plan to put the Company on a path towards a long-term growth trajectory that puts a premium on our customers, our people, and our shareholders. I look forward to continuing to build a great business here. I have spent most of my career advising, investing into, and running emerging growth companies and feel GrowLife is a perfect next step for me.”
In addition to Mr. Dohrmann’s appointment, Marco Hegyi has been appointed as interim-Chief Financial Officer following the resignation of Michal Fasci as CFO and Secretary, while the Company searches for a qualified replacement candidate. Finally, the Board of Directors has appointed Thom Kozik, a current member of the board, as interim-Secretary.
The announcement follows Growlife’s successful shareholder meeting and prior announcement of an exclusive agreement with a leading mushroom cultivation equipment supplier for distribution of products throughout the United States, essentially marking the Company’s entrance in the mushroom industry.
About GrowLife, Inc.
GrowLife, Inc. (PHOT) aims to become the nation’s largest cultivation service provider for cultivating organics and plant-based medicines. Our mission is to help make our customers successful. Through a network of representatives covering the United States, GrowLife provides essential goods and services to specialty grow retailers. GrowLife is headquartered in Kirkland, Washington and was founded in 2012. GrowLife is headquartered in Kirkland, Washington and was founded in 2012.
Investor Relations Contact:
investors@growlifeinc.com
206-483-0059
FORWARD-LOOKING STATEMENT:
This release contains statements that constitute 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. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of GrowLife, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words may, would, will, expect, estimate, can, believe, potential and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond GrowLife, Inc.’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
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