SpeakEasy Reports on 2021 Annual General Meeting Results

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ROCK CREEK, BC, May 6, 2021 /CNW/ - SpeakEasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H) (the "Company" or "SpeakEasy") a holder of a federal licence to cultivate, process and sell cannabis under the Cannabis Act is pleased to announce that during its Annual General Meeting (the "Meeting") held on April 28, 2021, shareholders approved all agenda items presented, including the election of management's nominees to serve as directors of the Company: William Fleming, Patrick Geen, Frey Garabagi and Charles Williams.

In addition, an additional nominee director, Mr. Ryan Kennedy, was nominated from the floor and subsequently was elected as an additional director of the Company, with such election to be contingent upon Mr. Kennedy obtaining all necessary security clearances from Health Canada and such other regulatory approvals as may be required by the Company's board of directors.

"We are thrilled to have Ryan and Charles on our board of directors and we look forward to having them share their years of professional and business experience with us," stated Malcolm Davidson, CEO. "These board changes allow the Company to continue to strengthen its corporate governance and actively pursue additional independent board members to achieve its goal of becoming a leader in governance within the cannabis space. I would personally like to extend a warm welcome to Charles and Ryan, and I wish Bill all the best with his new business endeavors."

Independent Board Members

Dr. Williams currently holds full security clearance and obtained a Ph.D. from McGill university in organic chemistry and thus brings a unique perspective to any question.  Charles brings extensive regulatory experience having over 25 years of direct regulatory experience and operated a consulting firm for over 20 years serving clients in a wide variety of regulatory aspects from environmental regulations, food, compliance and pesticide registrations.  Having served the past 3 plus years as Director of Quality Assurance he has overseen all regulatory aspects of Mernova Medicinal Inc. and has overseen Mernova Medicinal Inc. from the initial Health Canada application under the Access to Cannabis for Medical Purpose Regulations (ACMPR) to Mernova being licencing for processing and sales under Health Canada's Cannabis Act and Regulations.   He brings also experience and training in Good Laboratory Practice, Good Manufacturing Practices and Good Production Practices. 

Mr. Kennedy resides in Penticton, British Columbia, where he has been the President of WestRep Solutions, a manufacturer's representative agency since April 2000 and is a well-respected entrepreneur with a depth of experience in strategic planning and management.  He brings more than 28 years' experience in creating start ups, strategic planning, selling and marketing products, and building business relationships.  

Subsequent to the meeting and effective May 6, 2021, William Fleming resigned from the board of directors in order to pursue personal business opportunities.  SpeakEasy would like to thank Bill for this tenure with the Company and wishes him well on his endeavors.  The Company has commenced its search for a replacement to fill the vacancy left by Mr. Fleming's departure.

About SpeakEasy Cannabis Club Ltd.

SpeakEasy Cannabis Club Ltd. holds a cultivation, processing and sales licence issued by Health Canada under the Cannabis Act. SpeakEasy owns 290 acres of land in Rock Creek, British Columbia, and leverages five generations of farming experience in B.C. as well as its favourable location to grow and process high-quality cannabis products at low cost. SpeakEasy cultivates small batch, high quality craft cannabis at scale in a portion of its 63,200 square foot indoor cannabis complex and has completed its harvest of its 60-acre outdoor field. Total yearly production of cannabis flower and biomass is projected to be in excess of 70,000 kilograms per year once in full production.  

On behalf of the Board of the Directors

Forward Looking Statement

This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause SpeakEasy's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

Forward-looking statements in this document include statements concerning SpeakEasy's intent to produce and sell high quality craft cannabis, its projections concerning total yearly production of cannabis flower and biomass and all other statements that are not statements of historical fact.

Although SpeakEasy believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; COVID-19, adverse industry events; future legislative and regulatory developments involving cannabis; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the cannabis and hemp industries and markets in Canada and generally; the demand for CBD distillate, cannabis and cannabis related products, the ability of SpeakEasy to implement its business strategies; competition; the ability of SpeakEasy to obtain and retain all applicable licences from Health Canada, including, but not limited to those required under the Cannabis Act and other assumptions, risks and uncertainties. 

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

The Canadian Securities Exchange nor its Regulation Services accepts responsibility for the adequacy or accuracy of this release.  

SOURCE Speakeasy Cannabis Club Ltd.

Malcolm Davidson, CEO, [email protected], 1-604-218-9797