GABY Inc. Further Strengthens its Board of Directors with the Appointment of Loreto Grimaldi
A seasoned lawyer, operator and M&A Expert
SAN DIEGO, CA / ACCESSWIRE / July 6, 2021 / GABY Inc. (“GABY” or the “Company”) (CSE:GABY)(OTCQB:GABLF), a California consolidator of cannabis dispensaries and the parent company of San Diego’s Mankind Dispensary (“Mankind”), is pleased to announce the appointment of Loreto Grimaldi to the board of directors of GABY, effective immediately.
Loreto is a business executive and lawyer, admitted to practice in New York and Ontario. In addition to his extensive legal experience in corporate and regulatory law focusing on mergers and acquisitions, Mr. Grimaldi has significant operational and board experience across a number of diverse regulated industries in Canada and the U.S. (including California) for growth companies at the top of their respective industries.
Over a 25+ year career Mr. Grimaldi has held senior positions as COO, EVP, SVP and General Counsel and has led Legal, Operational, Insurance, Regulatory and Human Resources functions in these organizations. Currently, Loreto is the Chief Operating and Legal Officer for Tricor Automotive Group Inc., a distributed finance and insurance services company with operations in Canada and the US, owned by auto dealership groups in Canada representing over 240 franchised dealerships with annual sales of over $4 billion.
Mr. Grimaldi has extensive governance experience derived from several Board of Directors engagements with a number of public and private companies, including direct and recent cannabis board experience on the Board of Aleafia Health Inc. (TSX: AH), a Canadian cannabis company operating medical clinics and production facilities for the production and sale of cannabis in Canada and internationally. His responsibilities on the Aleafia Board have included Chair of the Human Resources and Compensation Committee, Chair of the Strategic Review Committee and Member of the Governance Committee.
Loreto has served as adjunct professor of Business Administration and the Law at the Schulich School of Business (York University) for over 15 years, and has also held teaching roles at Osgoode Hall Law School in Toronto. He is the recipient of a number of business and legal awards including an Innovation Award in 2016 from Thompson Reuters as Innovative Dealmaker of the Year.
Mr. Grimaldi will chair GABY’s Corporate Governance Committee and will serve as a member of the Human Resources and Compensation Committee.
“It is an honor to welcome someone of Loreto’s caliber to the Board of Directors of GABY”, said Margot Micallef, Founder & Chief Executive Officer of GABY. “His diverse experience in governance, law, regulated industries, operations, and mergers and acquisitions brings a unique skill set to the board of GABY. In particular, his proven experience leading multiple M&A-driven industry consolidation plays, and in retail operations and franchising will serve GABY well as it continues to consolidate retail dispensaries throughout California.”
“I am very pleased to have been asked to join a growth-oriented company like GABY, with a strong management team, a well thought out strategic plan and the means by which to execute on its retail growth strategy”, said Mr. Grimaldi. “GABY is on a very exciting trajectory and I’m looking forward to being part of that journey.”
GABY Inc. is a California-focused retail consolidator and the owner of Mankind Dispensary, one of the oldest licensed dispensaries in California. Operating in San Diego, Mankind is a well-known, and highly respected dispensary with deep roots in the California cannabis community. GABY curates and sells a diverse portfolio of products, including its own proprietary brands, Kind Republic™, Sonoma Pacific™ and Lulu’s™ through Mankind. In addition, through its wholly owned subsidiary, Sonoma Pacific Distribution it manufactures and distributes its proprietary brands to third party dispensaries. A pioneer in the industry with a multi-vertical retail foundation, and a strong management team with experience in retail, consolidation and cannabis, GABY is poised to grow its retail operations both organically and through acquisition.
GABY’s shares trade on the Canadian Securities Exchange (“CSE”) under the symbol “GABY” and on the OTCQB under the symbol “GABLF”. For more information, visit www.GABYInc.com
For further inquiries, please contact:
Margot Micallef, Founder & CEO or Investor Relations at IR@GABYinc.com or 800-674-2239.
Jive PR + Digital
(613) 614 6777
Disclaimer and Forward-Looking Information follows on next page
Disclaimer and Forward-Looking Information
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward looking statements include, but are not limited to, the release of Lulu’s Chocolates Consideration Shares and 2Rise Naturals Consideration Shares pursuant to the Lulu’s Chocolate Escrow Agreement and 2Rise Naturals Escrow Agreement, respectively. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Each of KJM Data and Research Inc., Sonoma Pacific Distribution, Inc., Lulu’s Chocolate and 2Rise Naturals are subsidiaries of GABY. Each of these subsidiaries hold cannabis licenses in either the State of California or the State of Arizona. Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale and possession of medical cannabis under the Cannabis Act (Federal), readers are cautioned that currently in the United States (“U.S.”), cannabis is largely regulated at the State level. For instance, cannabis is legal in the State of California and several other States, and has been legalized for medicinal use in the State of Arizona, however cannabis remains illegal under U.S. federal laws. Notwithstanding the permissive regulatory environment of cannabis at the State level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. To the knowledge of the Company, the businesses operated by each of GABY’s subsidiaries are conducted in a manner consistent with the State laws of California or Arizona, as applicable, and are in compliance with regulatory and licensing requirements applicable in the State of California or Arizona, respectively. However, readers should be aware that strict compliance with State laws with respect to cannabis will neither absolve GABY, or its subsidiaries of liability under U.S. federal law, nor will it provide a defense to any federal proceeding in the U.S. which could be brought against any of GABY, or its subsidiaries. Any such proceedings brought against GABY, or its subsidiaries may materially adversely affect the Company’s operations and financial performance generally and in the U.S. market specifically.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: GABY Inc.
View source version on accesswire.com: