Mojave Brands Inc. (HHPHF)

[microcapbiotech]

Cam Birge Appointed Interim CEO

Strategic Review Initiated

Financial Results Filed

Toronto, Ontario--(Newsfile Corp. - April 29, 2020) - Mojave Jane (CSE: JANE) (OTCQB: HHPHF) (FSE: OHCN) today announced that, effective immediately, Mr. Cam Birge, current Chairman of the Board, will replace Gary Latham as CEO on an interim basis. Mr. Latham has also resigned from the Company's Board of Directors. The Company also announced it has filed its financial results for the quarter ended February 29, 2020 on SEDAR. Additionally, the Mojave Jane Board of Directors announced it is initiating a strategic review.
Chairman of the Board and Interim CEO Cam Birge comments:
"We have come to a point where the Company is faced with a number of critical decisions. The extreme correction in the cannabis sector followed by the impact from the COVID-19 pandemic has made obtaining the financing required to execute on various initiatives impossible. Consequently, there have been drastic changes to the way the Company is run, as well as the need to suspend or terminate certain initiatives such as the intended acquisition of Pacific Crest 4 (Adelanto), in order to preserve shareholder value and continue as a going concern. We are currently holding a strategic review of our assets and liabilities, and are developing our go forward plan. The success of this plan is dependent upon successful negotiations with previous partners and creditors, which are underway. At this point, no guarantees can be made as to the outcome of this process."