Mar 01, 2022 (ACCESSWIRE via COMTEX) -- SAN DIEGO, CA / ACCESSWIRE / March 1, 2022 / GABY Inc. ("GABY" or the "Company") /zigman2/quotes/207479053/delayed CA:GABY +100.00% (otcqb:GABLF), a California consolidator of cannabis dispensaries and the parent company of San Diego's Mankind Dispensary ("Mankind Dispensary"), today announced the appointment of Paul Stacey to the role of Senior Vice-President Finance and Chief Financial Officer effective immediately. Mr. Stacey will succeed GABY's current Chief Financial Officer, Marshall Minor, who has announced his intention to explore additional opportunities elsewhere. Mr. Minor will transition day to day responsibility to Mr. Stacey, and will remain engaged with GABY in a consulting capacity until April 30, 2022 to enable him to conclude several projects, including the audit of GABY's fiscal year ending December 2021.
Mr. Stacey is a seasoned CFO and brings with him extensive and relevant industry experience, and strong executive leadership in the areas of corporate finance, financial planning, strategy and operations. Mr. Stacey served as the Chief Financial Officer of Dr. Murphys - a well-respected cannabis extraction and distribution facility with its own brand in market. Prior to Dr. Murphys, Paul was variably the CFO or the COO of a number of businesses or start-ups through a partnership with private equity funds. As a partner or advisor to private equity firms Paul managed and improved cashflow, grew revenues and optimized assets and pricing for a number of private equity owned consumer packaged goods companies. Earlier in his career, Paul held leadership roles with Gund, Ricoh USA, Cendant and Nabisco. He started his career as an auditor with PricewaterhouseCoopers.
"On behalf of the Board of Directors of GABY and our management team, I would like to thank Marshall for his contributions to our assimilation of the Mankind Dispensary acquisition into GABY. The systems, processes and team he has put into place has helped us build a strong foundation and readied GABY for growth", said Margot Micallef, Founder and Chief Executive Officer of GABY. "I am excited to welcome someone of Paul's caliber and diverse experience to the team and I look forward to working with Paul on our acquisition strategy and together with our President and Chief Operating Officer, continuing to strengthen our current operations".
ABOUT GABY INC.
GABY Inc. is a California-focused retail consolidator and the owner of Mankind Dispensary, one of the oldest licensed dispensaries in California. Mankind is a well-known, and highly respected dispensary with deep roots in the California cannabis community operating in San Diego, California. GABY curates and sells a diverse portfolio of products, including its own proprietary flower brand, Kind Republic™, which is proudly manufactured at GABY Manufacturing. A pioneer in the industry with a multi-vertical retail foundation, and a strong management team with experience in retail, consolidation, and cannabis, GABY is poised to grow its retail operations both organically and through acquisition.
GABY's common shares trade on the Canadian Securities Exchange ("CSE") under the symbol "GABY" and on the OTCQB under the symbol "GABLF". For more information on GABY, visit www.GABYInc.com or the Company's SEDAR profile at www.sedar.com
For further inquiries, please contact:
Margot Micallef, Founder & CEO or Investor Relations at IR@GABYinc.com
Senior Communications Manager
The purpose of forward-looking statements is to provide the reader with a description of management's expectations, and such forward-looking statements may not be appropriate for any other purpose. In particular, but without limiting the foregoing, disclosure in this press release as well as statements regarding the Company's objectives, plans and goals, including future operating results and economic performance and Mr. Minor's future role as a consultant may make reference to or involve forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Certain of the forward-looking statements and other information contained herein concerning the cannabis industryand the general expectations of the Company concerning theindustry and the Company's business and operations are based on estimates prepared by the Companyusing data from publicly available governmental sources as well as from market research and industryanalysis and on assumptions based on data and knowledge of this industry which the Company believesto be reasonable. However, although generally indicative of relative market positions, market shares and performance characteristics, such data is inherently imprecise. While the Company is not aware of any misstatement regarding any industry or government data presented herein, the cannabis industry involves risks and uncertainties that are subject to change based on various factors. A number of factors could cause actual events, performance or results to differ materially from what is projected in the forward-looking statements. You should not place undue reliance on forward-looking statements contained in this press release. Such forward-looking statements are made as of the date of this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement.
Each of Mankind Dispensary and Wild West Industries, Inc. are subsidiaries of GABY and hold
cannabis licenses in the State of California. Readers are cautioned that unlike in Canada which has Federal 032320-F legislation uniformly governing the cultivation, distribution, sale and possession of medical cannabis under the Cannabis Act (Canada), in the U.S, cannabis is largely regulated at the state level. Cannabis is legal in the State of California; however, cannabis remains illegal under U.S. federal laws. Notwithstanding the permissive regulatory environment of cannabis at the state level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. To the knowledge of the Company, the businesses operated by each of GABY's subsidiaries are conducted in a manner consistent with the
law of the State of California
and are in compliance with regulatory and licensing requirements applicable in the State of
California. However, readers should be aware that strict compliance with state laws
with respect to cannabis will neither absolve GABY, or its subsidiaries of liability under U.S.
federal law, nor will it provide a defense to any federal proceeding in the U.S. which could be brought
against any of GABY, or its subsidiaries. Any such proceedings brought against GABY, or its
subsidiaries may materially adversely affect the Company's operations and financial performance.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: GABY Inc.
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