Subsidiary to Focus on Opportunities in the Emerging Cannabis Sector.
Cannvas MedTech (CSE:MTEC) (“Cannvas” or the “Company”) , a leading business technology company in the cannabis space, is pleased to announce the appointment of Steve Loutskou as CEO of Cannvas Cannabis Acquisitions Corp. (“Cannvas Cannabis”), a wholly-owned subsidiary with a focus on investment and acquisition in the expanding global cannabis sector. Mr. Loutskou will remain Chief Operating Officer, Global Markets of the Company and will serve concurrently for both entities.
“Our new M&A subsidiary required a seasoned professional to strategically navigate the complex and fragmented cannabis markets and Steve is best suited for this position,” said Shawn Moniz, CEO of the Company. “Steve’s extensive career identifying and developing high-growth businesses is a testament to his remarkable ability to recognize early-stage market opportunities and is complemented by his proven marketing, financial and technological expertise. Cannvas and Cannvas Cannabis will work hand-in-hand to achieve the common goal of creating shareholder value, and with Steve’s proven leadership abilities, Cannvas Cannabis has a very bright future.”
Mr. Loutskou is an experienced multi-disciplinary innovator and has been at the forefront of integrative business application development. He founded FourOneSix, a consulting and advisory company that provides technology, marketing and growth strategy solutions to early and late-stage businesses. At FourOneSix, Mr. Loutskou managed a portfolio of business clients through the process of creating, promoting, and evolving their online footprint, and worked to ensure they engage in successful practices to reflect the ever-changing online market demands. He is also the founder and CEO of RidgePark.net, a boutique real estate investment and development company based in Toronto, Ontario.
“I’m proud of my successful track record of identifying early-stage business opportunities and developing and expanding companies from start-ups through to large and sustainable organizations,” said Steve Loutskou, CEO of Cannvas Cannabis and Chief Operating Officer, Global Markets at the Company. “I look forward to exciting opportunities with Cannvas Cannabis as we explore the medical and adult-use cannabis industry to discover emerging trends, compelling stories and innovative products and services relevant to the global cannabis market.”
Cannvas Cannabis seeks to complement Cannvas’ current product offering through continuous development, strategic investments and acquisitions in the cannabis sector. Related companies may include, but are not limited to:
- Marketing and design
- Food and nutraceuticals
- Regulation and enforcement
- New product development
- Cultivation related equipment
- Gear and paraphernalia
- Retail stores & dispensaries
- Testing labs
Cannabis research sources calculate legal pot sales in North America climbed approximately 33% in 2017 to almost $10 billion, and project annual sales will grow to $25 billion by 2021. In a 2017 study, Deloitte estimates the size of the ancillary cannabis market to be approximately 2.5 times the size of the actual cannabis cultivation market.
About Cannvas MedTech Inc.
Cannvas MedTech is a leading business technology company in the cannabis space. We design and build customer-centric solutions that enable our partners to harness the power of data to truly understand their customers, industry, and key business drivers.
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer’s future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted onwww.sedar.com.
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