CALGARY, ALBERTA – May 30, 2019 – Westleaf Inc. (TSX-V:WL)(OTCQB:WSLFF) (“Westleaf”) is pleased to announce the appointment of John Radostits of Edmonton to the Board of Directors of the Company. Mr. Radostits comes to Westleaf with a distinguished career in retail operations as well as more recent experience in developing cannabis retail in Canada’s legalized recreational market.
“John’s presence at the Board table will increase our senior leadership capacity, particularly around operating large-scale retail operations in multiple locations,” said Stephen Mason, Founder and Executive Chairman of Westleaf. “His experience in Western Canada complements the operational experience of the already deep Westleaf team.”
Mr. Radostits has a deep knowledge and background in scaling fast growth businesses in the retail space, having built the largest franchisee group under the Sobey’s banner in Canada, before selling it back to the national grocery giant. He is a part owner of Hudson’s Taphouse, a chain of gastropubs across Western Canada and is a founding partner and director of the largest Orange Theory Fitness group in Canada. John is also a founding partner and director in Cannabis At Work, Canada’s leading staffing firm focused on the cannabis market.
In addition, Mr. Radostits and his partner Ray Yue, built out a network of cannabis retail operations through Canndara Canada Inc. Canndara’s portfolio was acquired by Westleaf in a transaction that closed at the end of January 2019. John continues to operate the Radco Group of companies which includes Fireweed Holdings, an investment vehicle targeting the emerging global cannabis market.
John received a BCOMM from the University of Calgary and holds an ICD.D designation from the Institute of Corporate Directors. Mr. Radostits is the sixth member of the Westleaf board, joining Chairman Stephen Mason, CEO Scott Hurd, Delbert Wapass and independent members Robb McNaughton and Kareen Stangherlin.
About Westleaf Inc.
Westleaf is a vertically integrated cannabis company focused on innovative retail experiences and engaging cannabis brands as well as cultivation, production and extraction of cannabis products. Westleaf is rolling out a national retail footprint for its retail concept Prairie Records, with stores planned for British Columbia, Alberta, Saskatchewan and potentially Ontario. The retail concept leverages the instinctual tie between recreational cannabis and music and redefines the cannabis purchasing experience. The Company also has two significant production facilities under construction and scheduled for completion in 2019. For more information, please visit www.westleaf.com or www.prairierecords.ca.
Bruce Leslie, VP Corporate Communications
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This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, retail cannabis stores that Westleaf plans to open and the timing and completion of Westleaf’s production facilities. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: risks relating to the ability to obtain or maintain licences to retail cannabis products; review of Westleaf’s production facilities by Health Canada and receipt of licences from Health Canada in respect thereof; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; general business, economic, competitive, political and social uncertainties; the satisfaction of conditions precedent under Westleaf’s credit facilities; timing and completion of construction of Westleaf’s production facilities and retail locations; and the delay or failure to receive board, ATB Financial or regulatory approvals, as applicable. There can be no assurance that such 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 the forward-looking statements and information contained in this news release. Except as required by law, Westleaf assume no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
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