YourWay Cannabis Brands Announces Jacob Cohen Resigns as President of Arizona Operations

Rhea-AI Summary

YourWay Cannabis Brands announces Jacob Cohen resigns as President of Arizona operations

Positive

• Jacob Cohen will resign from his position as President of Arizona operations of YourWay, effective immediately.
• YourWay remains committed to delivering value to its shareholders and stakeholders.
• YourWay is evaluating the overall reporting structure for enhanced effectiveness and efficiency of the Company's Arizona operations.

Negative

• None.

VANCOUVER, BC, Oct. 17, 2023 /PRNewswire/ - YourWay Cannabis Brands Inc. (CSE: YOUR) (OTC: YOURF) (FSE: HOB) (the "Company" or "YourWay") announces today, that in mutual agreement with Jacob Cohen, Mr. Cohen will resign from his position as President of Arizona operations of YourWay, effective immediately. Mr. Cohen will continue to serve as a member of the Company's board of directors.

Mr. Cohen's contributions to the Company during his tenure have been acknowledged and appreciated. YourWay wishes him the best in his future endeavors.

"We understand and respect Jacob Cohen's decision to resign from his role within the Company," said Jakob Ripshtein, acting Chief Executive Officer of the Company. "YourWay remains committed to its mission of delivering value to our shareholders and stakeholders."

YourWay will continue its dedication to transparency, regulatory compliance, and its mission to redefine the cannabis industry through innovation and quality.

In light of Jacob Cohen's transition, YourWay is evaluating the overall reporting structure for enhanced effectiveness and efficiency of the Company's Arizona operations.

About YourWay Cannabis Brands Inc.:

YourWay is a publicly traded, multi-state and consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact with sales and operations in Arizona. By building their own brands, partnering with others, and supporting retail partners' control brand strategy, they are dedicated to expanding their reach; remolding the cannabis industry and ultimately redefining consumers and cannabis brands interact.

YourWay aims to connect with the cannabis consumer on a deeper level, utilizing decades of brand-building expertise and an integral understanding of the customer experience to create an intuitive suite of branded products that closely aligns with consumer need states. The YourWay portfolio is an all-encompassing House of Brands designed to create a sense of belonging for every cannabis consumer regardless of their relationship with the plant.

Please visit www.yourwaycannabis.com or follow us on X (formerly Twitter) at @yourwaycannabis for the latest news and information about YourWay and its brands.

Website: www.yourwaycannabis.com 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: 

This news release includes certain "forward-looking information" as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: the Company's continued dedication to transparency, regulatory compliance, and its mission to redefine the cannabis industry; the Company's evaluation of its reporting structure and the expected outcome on the Company's Arizona operations; and expectations for other economic, business, and/or competitive factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.

Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. 

The Company, through several of its subsidiaries, is indirectly involved in the manufacture, possession, use, sale, and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States. Local state laws where the Company operates permit such activities however, investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable United States federal money laundering legislation. 

While the approach to enforcement of such laws by the federal government in the United States has trended toward nonenforcement against individuals and businesses that comply with recreational and medicinal cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under United States federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company's operations and financial performance. 

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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SOURCE YourWay Cannabis Brands Inc.

FAQ

Who is resigning from their position at YourWay Cannabis Brands?

Jacob Cohen is resigning from his position as President of Arizona operations.

What is YourWay's commitment?

YourWay is committed to delivering value to its shareholders and stakeholders.

What is YourWay evaluating?

YourWay is evaluating the overall reporting structure for enhanced effectiveness and efficiency of the Company's Arizona operations.