THC Therapeutics Appoints New CFO

Rhea-AI Summary

THC Therapeutics, Inc. (THCT) has appointed Jonathan Cross as the new Chief Financial Officer, leveraging his 33 years of experience in finance and mergers and acquisitions. Cross aims to enhance shareholder value and develop a finance team focused on transparency and accountability. He plans to refine the company's strategy, including the ongoing development of the dHydronator, a device that accelerates cannabis drying. Under CEO Brandon Romanek, the company is also exploring entry into the psychedelics market, aiming to solidify its position in the cannabis industry.

Positive

• Hiring of Jonathan Cross as CFO, expected to strengthen financial leadership and strategic guidance.
• Focus on transparency and accountability within the finance team.
• Development of the dHydronator, which significantly reduces cannabis drying time.
• Exploration of opportunities in the psychedelics market to enhance shareholder value.

Negative

• Concerns about continuity in leadership as Brandon Romanek previously held dual roles of CEO and CFO.
• Potential risks associated with expanding into the psychedelics market amid regulatory uncertainties.

Jonathan Cross, a private equity fund manager with over 33 years of experience, joins THC Therapeutics

LAS VEGAS, NV / ACCESSWIRE / August 31, 2021 / THC Therapeutics, Inc. (THCT), a forward-thinking, publicly-traded technology company, whose mission statement is, "Better Health through the Science of Nature," is pleased to announce today that Jonathan Cross, a distinguished investor with vast experience in mergers and acquisitions, has joined the company as its CFO.

THC Therapeutics hires Jonathan Cross as Chief Financial Officer. Mr. Cross is the Managing Director of Shefford Capital Partners, a private equity fund that specializes in the acquisition of small and lower-middle market companies; founded in 2008, Shefford presently manages over $250 million. Mr. Cross is a seasoned investor with over 33 years of experience in principal investing, domestic and cross-border M&A, corporate finance and corporate restructuring. He plans to bring his wide experience to THCT to develop a finance team focused on clarity, simplicity, transparency and accountability.

Mr. Cross stated, "I am delighted to be joining Brandon Romanek and his team at THC Therapeutics on a crusade to create shareholder value in the cannabis industry. I met their CEO, Mr. Romanek, a few weeks ago to talk about a new strategy for THC Therapeutics. We are going to be sitting down this week to go over the finer points on a strategy regarding the company's direction, I have every reason to believe will be both compelling and lucrative for all of the company's stakeholders. Furthermore, one of my main focuses will be on ensuring that the company operates, from the top down, as if it were an NYSE/NASDAQ company."

Brandon Romanek, our Founder & CEO stated, "For most of the past several years, I have held the dual position of CEO and CFO. Previously, company operations were such that there was no need for THCT to hire a CFO. Having had several long discussions with Mr. Cross, it became very apparent that we needed to hire a CFO with expertise in mergers and acquisitions. With over 30 years of experience on Wall Street, Mr. Cross has the skill and practical know-how to help the company navigate a shift in an exciting new direction, and further development of the company's business strategy. In addition to continuing efforts to launch the patented dHydronator, our sanitizing marijuana/herb dryer, which is presently in development, we plan to navigate further into the cannabis industry."

Mr. Romanek further comments "For the past several years, we have been working to develop ourselves as an ancillary technology company. In the present marketplace, there is ongoing research and development into psychedelic/hallucinogenic-inspired medicines and therapies to address addiction and mental illness. In addition to marijuana, we are now looking into an entry into the psychedelics space that could further enhance shareholder value."

About THC Therapeutics Inc
THC Therapeutics, Inc. (THCT) is focused on developing their patented dHydronator®, a sanitizing herb dryer. The main function of the dHydronator® is to greatly accelerate the drying time of cannabis while sanitizing it. The dHydronator® can be used to dry a variety of herbs; it has been specifically tested for use with cannabis, and it can reduce the drying time for cannabis from 10-14 days to less than 14 hours. The Company may also focus some of its future operations on participation in cannabis-testing lab facilities and developing personal wellness centers. The Company is seeking partnerships in the Cannabis & Health/Wellness industries in the United States & Canada.

Any statements that are not historical facts contained in this press release are "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the cannabis industry, the performance of management, actions of government regulators and vendors, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our filings with the Securities and Exchange Commission ("SEC"). We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.

Investor Contact:
Jon Olson
jon@milestonemanagementservicesllc.com
702-217-9518
https://milestonemanagementservicesllc.com

SOURCE: THC Therapeutics, Inc.

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FAQ

What is the significance of Jonathan Cross's appointment as CFO for THCT?

Jonathan Cross's appointment is significant as he brings over 33 years of experience in finance, which is expected to enhance the company's strategic direction and financial leadership.

What are the main goals Jonathan Cross aims to achieve at THC Therapeutics?

Cross aims to focus on clarity, transparency, and accountability within the finance team while developing a compelling strategy to increase shareholder value.

What is the dHydronator and how does it benefit THC Therapeutics?

The dHydronator is a patented herb dryer designed to drastically reduce the drying time of cannabis from 10-14 days to less than 14 hours, improving operational efficiency.

What new market is THC Therapeutics exploring under their current strategy?

THC Therapeutics is exploring entry into the psychedelics market as part of its strategy to enhance shareholder value and diversify its offerings.