Phyto Extractions Inc. - formerly, Adastra Labs Holdings Ltd. - (CSE:XTRX)(FRA:D2EP) has announced the appointment of Michael Forbes as its new CEO and director.
The company noted that Forbes comes to Phyto Extractions with a background firmly rooted in medicine, cannabis production and entrepreneurship. Demonstrating his knowledge and experience in the cannabis industry, he has founded five cannabis medical clinics under the Concord Medical Clinic umbrella, built Clarity Cannabis and Honeycomb Cannabis to over 10 locations, and also founded the cannabis licensed production facility, Sitka Weed Works, in Canada.
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"I am honored to have been selected to serve as the new CEO and look forward to overseeing the execution of the corporate vision of continued leadership in the recreational cannabis space through the development of brand offerings that position us as the clear choice in the mind of cannabis consumers now and in the future," Forbes said in a statement.
"My experience in health care, medicine, business operations and cannabis will be integral to continuing to strengthen the company's current position and planned expansion into the burgeoning medical market," he added.
Having medical experience of over 16 years, Phyto Extractions noted that Forbes has also built and operated pharmacy chains across British Columbia and Alberta, and founded a dozen medical clinics, including three methadone clinics in order to protect the public from drug diversion and increase accessibility to medicine.
The new CEO graduated from the University of British Columbia in 2002 with a BSc. in Pharmaceutical Sciences, also achieving additional certification in Hormone Restoration, Age Management Medicine, and more recently, Cannabis Plant Production and Facility Management from Kwantlen Polytechnic University. He was elected to attend the Ivey School of Business for Canada's Top 40 under 40 in 2017 where he received an honorary MBA.
In other corporate news, Phyto Xtractions also announced that Donald Dinsmore, its chief operating officer was appointed as an additional director to fill the vacancy created by the prior resignation of Blaine Bailey. Following the changes, the company's board of directors now consists of Michael Forbes, Donald Dinsmore, Stephen Brohman and George Routhier.
Phyto Extractions is an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, British Columbia at its co-located Health Canada Licensed Standard Processing (extraction and products, no cultivation), Sales (extracts, topicals, and edibles), and R&D through Adastra Labs Inc. and Analytical Testing Laboratory through Chemia Analytics Inc.
Contact the author at jon.hopkins@proactiveinvestors.com