DENVER, February 26, 2020 (Newswire.com) – Redwood Green Corp. (“Redwood Green” or the “Company”) (OTC:RDGC) is pleased to announce the immediate appointment of Michael Saxon as CEO and director. Former CEO Christopher Hansen will remain a director; John Knapp has resigned his position with the board.
CEO Michael Saxon is an accomplished consumer products executive with over 25 years of experience growing F100 businesses in the USA, Europe and Asia, having led business units with full P&L responsibility from $100 million to $3 billion while operating in different regulatory systems and successfully influencing government policy. His career reflects a demonstrated history of setting record income and market share results in a wide range of market conditions and succeeding in various go-to-market models, including wholesale, distributor and DSD. He brings a strong, innovative mindset from his experience creating new products and brands and having been the catalyst for successful large-scale transformation initiatives to drive organic growth and executing M&A transactions to enter new markets.
Mr. Saxon served in various positions for over 20 years with Altria Group and Philip Morris International (PMI). Most recently, he founded and is CEO of SXN Strategy Partners in Richmond, VA, which advises boards and the C-suite on long-term strategies. Clients include private equity and venture capital firms, institutional investors, startups, middle market companies and non-profits.
“I’m excited to be joining the Redwood Green team,” said Michael Saxon. “This is an exhilarating time in our industry. With the strong backing of our shareholders and contributions from our distinguished board, I’m confident in the future of the company. We will be refining our strategy over the coming months, but running profitable businesses and seeking strategic acquisitions and partnerships will be the foundations of our future.”
Former CEO Chris Hansen stated, “It has been my pleasure to lead Redwood Green and our subsidiaries through our first very challenging year of foundational structure building and shifting strategy into this new industry, as we developed and implemented our initial road map through rocky and often rapidly changing terrain. We have built strong organizational teams for the Company, and it has been a delight to work with such a highly skilled, diverse group of people. At this point, I am satisfied the company is in an excellent position to hand direction over to Michael, and I am pleased to be continuing my participation now as a member of the board.”
Board Chair Dr. Delon Human expressed appreciation for the contributions of both Chris Hansen and John Knapp. “Chris Hansen has led Redwood Green and our subsidiaries through an extraordinary time of change in both Company strategy and the regulatory landscape of the market. He has accomplished significant multi-pronged foundational building and has set in place the structure for exceptional development as we move forward with Redwood Green’s strategy of, as Michael Saxon stated, running profitable businesses and seeking strategic acquisitions and partnerships.
“John Knapp, founder of Redwood Green subsidiary Good Meds, has likewise done an admirable job of building, from the ground up in a brand new industry, what has become a respected player in Colorado’s medicinal cannabis space. His strengths as an entrepreneur and innovator have set the stage for potentially remarkable growth in the near future. We appreciate the contributions to the Company from both of these men.”
About Redwood Green Corp.
Redwood Green delivers high-quality, safe, sustainable, innovative and accessible marijuana- and hemp-derived products that support individual well-being. Safety and high quality is a critical commitment from Redwood Green, both for our own brands as well as the partners with whom we do business. The drive behind what we do is rooted in improving well-being and quality of life for a wide range of audiences, ensuring we grow and improve upon what is currently available for consumers in the cannabinoids market. The company is publicly traded and listed on the OTC as RDGC.
This press release is not an offer of securities, or a solicitation for purchase, subscription or sale of securities in the United States of America or in any other jurisdiction in which it would be unlawful to do so.
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This press release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or “recurring” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, such as changes in the regulatory environment affecting the sale and use of cannabis products, demand for the Company’s products, internal funding and the financial condition of the Company, product roll-out, competition, our dependence upon our commercial partners, and other commercial matters involving the Company, its products and the markets in which the Company operates, as well as general economic conditions and those other risk factors identified in the Company’s SEC filings, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this email message. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in subsequent reports should be consulted.
Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the U.S. Controlled Substances Act, making it illegal under federal law in the U.S. to, among other things, cultivate, distribute or possess cannabis in the U.S. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the U.S. may form the basis for prosecution under applicable U.S. federal money laundering legislation.
While the approach to enforcement of such laws by the federal government in the U.S. has trended toward non-enforcement against individuals and businesses that comply with medical or adult-use cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve Redwood Green of liability under U.S. federal law, nor will it provide a defense to any federal proceeding which may be brought against Redwood Green. Enforcement of federal laws in the U.S. remains a significant risk to the business of Redwood Green and any proceedings brought against Redwood Green thereunder may adversely affect the Company’s operations and financial performance.