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Zoetic appoints chairman as it pursues push into CBD market

“Since we announced our new strategy two weeks ago, Paul has been an enormous support,” said chief executive Nick Tulloch.

Zoetic International plc -
Highlands Natural Resources changed its name to Zoetic last week

Zoetic International plc (LON:ZOE), the cannabidiol (CBD) and natural resources firm formerly known as Highlands Natural Resources, has appointed Paul Mendell as non-executive chairman.

Mendell is part of the group’s advisory board and has been involved with the company since its initial public offering in March 2015.

Zoetic said Mendell has been instrumental in identifying natural resources projects and helping establish the CBD business, particularly by seeing the potential of the nitrogen-hydrogen gas discovery in Kansas. 

He was the co-founder of iodine firm Iofina PLC (LON:IOF) and has owned interests in more than 250 horizontal and vertical producing oil and gas wells in the US.

“Since we announced our new strategy two weeks ago, Paul has been an enormous support,” said chief executive Nick Tulloch.

“He has an in depth understanding of both sides of our business and, in particular, no one has as much knowledge of our natural resource assets, and of how to monetise them, as Paul.

“He is popular with our team and business partners and I am looking forward to working with him to deliver value to shareholders.”

The news comes just days after Highlands Natural Resources changed its name to Zoetic to reflect its shift away from oil and gas towards its CBD operations, which have taken off since launch in April.

The company said its executive management committee now includes CEO Tulloch, Trevor Taylor as chief strategy officer, Antonio Russo as chief revenue officer, Eric Anderson as senior vice president and Melvyn Davies as interim chief financial officer.

Quick facts: Zoetic International PLC

Price: 8.695 GBX

LSE:ZOE
Market: LSE
Market Cap: £16.92 m
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Zoetic International PLC (LON:ZOE) (OTCQB:ZOEIF) Co-CEOs Trevor Taylor and Antonio Russo tell Proactive the Colorado-based company is shifting away from its oil and gas assets 'rather quickly' to focus more closely on its CBD business and are 'ready to hit the go button' on CBD product...

on 21/5/20

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