Wake Network Appoints David Hackett as Chief Financial Officer

TORONTO, June 30, 2021 /CNW/ - Wake Network, Inc. ("Wake" or the "Company"), a global leader in naturally derived psilocybin production and the developer of genomics-based integration therapies, is pleased to announce the appointment of David Hackett as Chief Financial Officer.

Mr. Hackett brings over 25 years of public company experience to Wake recently with 48North Cannabis Corp., a vertically integrated Canadian cannabis company where he successfully completed its go public transaction, raised $64 million, completed a number of acquisitions and spearheaded revenue growth from zero to $30 million on an annualized run rate in three years. He has overseen the growth of a number of start-up companies, including dealing with operations, technology, regulatory reporting (in Canada and the U.S.), corporate governance, public financing (in Canada and the U.S.) and M&A activity. David is a CPA and CA and holds an MBA from the Richard Ivey School of Business at the University of Western Ontario.

"First, we would like to thank Pascal D'Souza for his valuable contributions to our company as CFO. We would like to thank him for his efforts and hard work getting us to this point in Wake's journey. As we grow towards the public markets, David brings decades of experience and deepens the capabilities of our management team. I look forward to introducing him to shareholders and investors over the course of the next few months." stated Nick Murray, Chief Executive Officer of Wake.

Mr. Hackett noted, "I am delighted to be joining the Wake team. The psilocybin category is still a nascent industry and there is significant opportunity for Wake to become a dominant player in the space.  My experience with public companies and regulated industries will help support Wake's plans for growth and profitability."

ABOUT WAKE NETWORK, INC.

Wake Network, Inc. is a fungi bioscience company focused on advancing, through research, the field of psychedelic and fungi-based therapeutics. To address the growing need for psychedelic-assisted mental health support in medicine and society at large, Wake has partnered with academics, governments and best-in-class mycologists around the world. Wake is currently developing fungus-derived psilocybin and medicinal mushroom products and is making advancements in the engineering of novel psychedelic biologics, while working on proving out their safety through proprietary genetics-based integration therapies. 

Caution Regarding Forward-Looking Information

This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance, are "forward-looking statements." 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 variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. 

Forward looking statements are based on certain assumptions regarding the Company, including but not limited to expected growth, results of operations, performance, industry trends and growth opportunities. While the Company considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to: dependence on obtaining and maintaining regulatory approvals, including federal, provincial, municipal, local or other licences, to operate and expand the Company's facilities;  the Company's limited operating history and lack of historical profits; reliance on management; that the Company's shares are expected to be listed on a stock exchange; the Company's requirements for additional financing and the effect of capital market conditions and other factors on the availability of capital; competition, including from more established or better financed competitors; the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, customers and suppliers; the Company's ability to conduct the clinical trials that it intends to;  the ability of the Company to discover new and/or more effective options for patients to treat their conditions; the development and implementation of medical protocols and treatment standard operating procedures for the use of psychedelic therapies; the Company's ability to successfully withstand the economic and geopolitical impact of the COVID-19 pandemic; the medical benefits, safety, efficacy, dosing and social acceptance of psychedelics; and the cultivation and harvest of psilocybe mushrooms; and any other factors or developments that may hinder the market or the Company's growth. 

These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. 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 forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.  Readers should not place undue reliance on the Company's forward-looking statements.

SOURCE Wake Network, Inc.

For more information about Wake please visit our website www.wake.net or contact: Nick Murray, CEO, Wake Network, Inc., E: [email protected], Tel: [phone]; Investor Relations: Wake Network, Inc., E: [email protected], Tel: [phone]