Phivida Holdings Inc fka VIDA

[greenwillow]

Phivida Holdings Inc. Announces Leadership Transition

https://www.newswire.ca/news-releases/phivida-holdings-inc-announces-leadership-transition-861339445.html


VANCOUVER and SAN DIEGO, Nov. 25, 2019 /CNW/ - Phivida Holdings Inc. (CSE: VIDA OTCQX: PHVAF) ("Phivida" or the "Company") today announced that the Company's Board of Directors has appointed David Moon, most recently the President of Wikala.com Inc. and a director of the Company, as interim Chief Executive Officer. This appointment follows the decision of James Bailey to step down as President and CEO, and as a director of the Company, to pursue other opportunities. The Phivida board will undertake a search to identify the Company's next CEO, and will consider internal and external candidates.

John Di Girolamo, Director of the Company said: "David is a serial entrepreneur who brings a successful track record and 15 years of experience selling online. He also has background in the natural health and wellness industry that ties together the two major components of our business – technology and CBD-based health and wellness products. We are confident that David's experiences and background position him well to lead the Company during this time."

Mr. Moon commented: "Phivida now has a developed brand portfolio of CBD-based products and a technology platform that enables the creation of specialized marketplaces. We believe that the opportunity before us is in its infancy and that there is currently no entrenched technology-based leader in this sector. We are 100% focused on building shareholder value through the fullest utilization of the assets that we have on hand."

Mr. Moon added: "On behalf of the Company, we wish to thank Jim for his contributions, and wish him all the best in his future endeavours."

In conjunction with the leadership transition, the Company is undergoing a strategic review process to consider all value-maximizing opportunities, including exploring potential corporate transactions. There can be no assurance that the strategic review will result in a transaction. Phivida does not intend on making further public announcements regarding the strategic review process unless and until a definitive transaction has been entered into or as otherwise required by applicable law.

ABOUT David Moon

David Moon founded Wikala.com Inc. in January 2017 and currently serves as President of Wikala.com Inc. and as a board member of Phivida Holdings Inc. Previously, he co-founded Investintech.com Inc., a software company he led as President and as a board member. He has managed international, distributed teams involving technology and product development and navigated hyper-competitive markets subject to constant change. Prior to his business involvement, Mr. Moon practiced law as a securities lawyer. He received his J.D. and MBA at the University of Toronto and his B.A. from McGill University.

ABOUT Phivida Holdings Inc.

Phivida Holdings Inc. is headquartered in Vancouver, BC with operations in San Diego, CA. Phivida is a premium functional food and beverage company focused on whole plant nutrition and natural ingredients that help best maintain overall health and balance in the human body. The company infuses organic active hemp extract into a variety of premium beverages and clinical products for everyday health. Phivida embraces and celebrates a return to organic, natural, plant-based foods and beverages, and a focus on holistic health and wellness. The mission is to help reduce the world's dependence on pharmaceuticals and provide food and beverage choices that allow customers to live a balanced, healthy lifestyle. For more information, visit phivida.com.