Plus Products Inc Announces Resignation of Director Matt Schmidt After 3 Years of Service

Rhea-AI Summary

Plus Products Inc. announced the resignation of Matt Schmidt from its Board of Directors, effective June 28, 2021. Schmidt, who served since March 2018 and was part of the Audit Committee, provided valuable advice and financial expertise during his tenure. He expressed pride in the company's achievements and optimism for its future. Plus Products focuses on creating high-quality cannabis and hemp products aimed at improving consumer experiences.

Positive

• Matt Schmidt brought valuable financial acumen to the Board and Audit Committee, enhancing the company's governance.
• His contributions helped establish Plus Products as a recognized brand in the hemp and cannabis sector.

Negative

• Schmidt's departure could create a gap in financial oversight and continuity on the Board.
• Potential concerns about leadership stability may arise from this significant change.

SAN MATEO, Calif., June 29, 2021 (GLOBE NEWSWIRE) -- Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) (the “Company” or “PLUS”), a cannabis and hemp branded products company in the U.S., today announced that Matt Schmidt will be leaving his role as a member of the Company’s Board of Directors (a “Director”) effective June 28, 2021.

Mr. Schmidt has served as a Director since March of 2018 and was a member of the Audit Committee prior to his resignation.

“Matt has always brought thoughtful and robust advice to our board meetings and a high level of financial acumen in leading the Audit Committee. He was instrumental in building PLUS into the brand it is today. We are thankful for his contributions to the Company over the last several years,” stated Jake Heimark, CEO and co-founder.

“I am proud of what PLUS has accomplished over the past three years, and as a shareholder look forward to seeing the Company’s successes moving forward,” stated Mr. Schmidt.

About PLUS

PLUS is a hemp and cannabis food company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable – that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, CA.

For further information contact:

Jake Heimark
CEO & Co-founder
ir@plusproducts.com

Investors:

Cole Stewart
Investor Relations
Cole@plusproducts.com
Tel +1 213.282.6987

Media:

plus@mattio.com
Mattio Communication

The CSE does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements:

This press release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (each, a “forward-looking statement”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur, including but not limited to: what if any successes the Company has moving forward.

These forward-looking statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this press release. Forward-looking statements are based on the opinions and estimates of management 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 projected in the forward-looking statements. These risks include, but are not limited to, the success of the Company’s investments, the ability to retain key personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of the Company’s products, customer experience and retention, the continued development of adult-use sales channels, managements estimation of consumer demand in in jurisdictions where the Company exports, expectations of future results and expenses, the availability of additional capital to complete capital projects and facilities improvements, the ability to expand and maintain distribution capabilities, the impact of competition, the ability of the Company to implement initiatives and the possibility for changes in laws, rules, and regulations in the industry. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

FAQ

What was the reason for Matt Schmidt's resignation from Plus Products Inc. Board?

Matt Schmidt resigned from the Board effective June 28, 2021, after serving since March 2018, but the specific reasons were not disclosed.

What impact might Matt Schmidt's resignation have on Plus Products Inc.?

His resignation could create a gap in financial oversight and raise concerns about continuity within the company's leadership.

When did Matt Schmidt leave his position at Plus Products?

Matt Schmidt left his position on the Board of Directors effective June 28, 2021.

How long did Matt Schmidt serve on the Plus Products Board?

Matt Schmidt served on the Plus Products Board for over three years, from March 2018 to June 2021.

What role did Matt Schmidt play at Plus Products before resigning?

Before resigning, Matt Schmidt was a Director and a member of the Audit Committee.