Chemistree Technology Inc (CSE:CHM) (OTCMKTS:CHMJF) announced Tuesday that it has succeeded in recruiting a seasoned cannabis industry executive Nicholas Zitelli to its board of directors.
Zitelli is now the part-owner, director and chief cannabis officer of Trans High Corporation, the parent company of the 45-year-old High Times magazine. He’s also the founder and CEO of the Cannabis Genetics Institute, a research and development institute focused on the breeding of medicinal cannabis, set up in Amsterdam in 2014.
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Most recently, he was also named CEO of the newly-formed group Applied Cannabis Sciences LLC, which aims to acquire and operate medical marijuana licenses in the Eastern US and boasts projects in New Jersey, New York and Massachusetts. And he's also written hundreds of articles covering a range of topics in cannabis science under the pen name Nico Escondido.
“These are exciting times for the company and Mr. Zitelli will be a truly outstanding addition to our board of directors,” said Karl Kottmeier, in a statement. “His worldwide network through the professional cannabis community, in addition to his excellent reputation, will unquestionably be invaluable assets to our company’s continued growth.”
For his part, Zitelli says he is looking forward to joining Chemistree as it widens its reach.
“I appreciate the opportunity to support Chemistree through the Company's planned expansion, particularly in the US market, and help it to define the future of the cannabis industry,” he said in a statement.
Headquartered in Vancouver, Chemistree is an investment company focused on acquiring and developing cannabis assets in the US and Canada.
Chemistree shares slipped C$0.01 to trade at C$0.60 on Monday.
Contact Ellen Kelleher at [email protected]
-- This story is updated to reflect latest share price movement --