Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
On October 17, 2021, the Board of Directors of the Company which, at that time,
consisted solely of Laura De Leon Castro, elected two new additional directors,
Timothy Ambrose and Jon-Paul Doran. On October 18, 2021, Laura De Leon Castro
resigned as President, Chief Executive Officer, Secretary, Treasurer, and a
Director and Chairman of the Board of Directors of the Company. Ms. De Leon
Castro's resignation was not the result of any disagreements with the Company
regarding our operations, policies, practices or otherwise. Concurrently,
Timothy Ambrose was elected as Chairman of the Board of Directors and Jon-Paul
Doran was elected as President, Chief Executive Officer, and Secretary of the
Company.
Timothy Ambrose - Chairman of the Board of Directors
Timothy Ambrose (41). Mr. Ambrose has extensive experience in building and
leading high-performing commercial operations and digital operations. He started
his professional career at McKinsey before holding executive roles at DMGT,
Trinity Mirror PLC and, more recently, Local Word Ltd where he was part of the
team that completed a £220 million sale of the business to Trinity Mirror in
October 2016. Together with Jon-Paul Doran, in 2018 he founded Eco Equity
Zimbabwe (PTY) Limited, a licensed holder for Medical Cannabis Cultivation and
Production in Zimbabwe, Africa. In October 2019, he and Mr. Doran were founders
of JPD Capital PCC Limited, a London, UK based investment banking firm, and JPD
Capital, a Guernsey based fund. Mr. Ambrose currently serves as COO of JPD
Capital PCC Limited as well as JPD Fund.
Jon-Paul Doran - President, Chief Executive Officer, Secretary, and Director
Jon-Paul Doran (34). Mr. Doran, born in Zimbabwe, started his career at
Citigroup before moving into the Private Equity industry working in the Far East
and the Middle East. From here he moved into the cannabis industry after
identifying the opportunities in the market and the chance to help provide
alternative treatments to those in need of care. Together with Timothy Ambrose,
in 2018 he founded Eco Equity Zimbabwe (PTY) Limited, a licensed holder for
Medical Cannabis Cultivation and Production in Zimbabwe, Africa. In October
2019, he and Mr. Ambrose were founders of JPD Capital PCC Limited, a London, UK
based investment banking firm, and JPD Capital, a Guernsey based fund. Mr. Doran
currently serves as CEO of JPD Capital PCC Limited as well as JPD Fund.
The Company believes that Messrs. Ambrose and Doran respective educational
backgrounds and business and operational experiences give them the
qualifications and skills to serve as Directors and in their respective officer
positions.
Neither Mr. Ambrose nor Mr. Doran has been involved in a transaction with
related persons, promoters, or control persons during the Company's preceding
fiscal year.
Item 9.01 Financial Statements and Exhibits.
(a) Financial statements of business acquired. Not applicable.
(b) Pro forma financial information. Not applicable.
(c) Shell company transactions. Not applicable.
(d) Exhibits. None
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