VANCOUVER, July 8, 2019 /CNW/ PRESS RELEASE - C21 Investments, Inc. today announced that Sonny Newman is succeeding Robert Cheney as President and Chief Executive Officer of C21 Investments effective immediately.
Sonny Newman is the founder of Silver State Relief and Silver State
Cultivation in Nevada, and has several other companies in electronics,
manufacturing, electronics distribution, real estate development and an
investment company. Mr. Newman was the sole owner of the Silver State
companies when they were purchased by C21 Investments earlier this year and is
today the largest shareholder of C21 Investments holding approximately 15.3% of
the outstanding shares. Mr. Newman's proven operational and financial
discipline in the cannabis and other sectors shows his ability to build solid
teams and make strategic investments into opportunistic markets.
"We would like to thank Robert for his tireless efforts and visionary
leadership when building this leading cannabis firm," said Sonny
Newman. "We are grateful that Robert will remain on our Board of
Directors and continue to provide his invaluable counsel."
In his role as President and CEO of C21 Investments, Mr. Newman has agreed
that he will not be a member of the Board of Directors in recognition of his
shareholder status and financial arrangements with C21 Investments.
"Sonny knows how to operate a highly successful cannabis business and
we share the same vision for C21 Investments," said Robert Cheney.
"Shareholders can be assured that Sonny will continue to integrate our
existing businesses and aggressively grow the operations to increase
shareholder value."
