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Monday, November 08, 2021 10:52:25 AM

Re: Penny City Sharps post# 485

Post# of 515
Today CEO Phil Floucault (Named on Oct.20) has been on board for 3 weeks (day after tomorrow).

2,5 months before his arrival (on Aug.31)
- a Manager of Farm Operations had been named
- at the Ein Hahoresh Farm the facility had been completed
- On August 31 (2,5 months ago) the requisite final inspections of the facility were anticipated within weeks
- Applications were underway to secure importation rights to deliver high quality, high potency Canadian grown cannabis to the underserved Israeli medical marketplace.
- The company was in great shape to conclude the process with government ministries and have an increased processing capacity in order to catch up and possibly surpass its original production expectations.

It now should be appropriate for our new CEO to issue a CORPORATE UPDATE defining where we stand and what our plans are under his direction.

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