ADDING MULTIMEDIA Socati Board of Director Appointments Bring Significant Leadership Experience to Accelerate Company Growth, Advance Hemp Industry

  • New board members from Amgen, Oracle, Chiquita bring decades of
    leadership in high-potential CBD markets, including food, consumer
    packaged goods and pharmaceuticals
  • Appointments follow acquisition of major processing facility,
    enabling large-scale production, product purity and quality of
    broad-spectrum hemp extracts

WOODBURN, Ore.–(BUSINESS WIRE)–Socati Corp., a leading scale processor of broad spectrum hemp extract
with undetectable levels of THC, announced today the appointment of four
new board members with decades of experience in rapid-growth companies
and in high-potential CBD markets, including food, consumer packaged
goods and pharmaceuticals.


The appointments help further position Socati as an industry leader that
has developed proprietary technologies and large-scale production
capabilities to meet the rapidly expanding market demand for
high-quality, hemp-derived ingredients, including CBD and other
cannabinoids.

The new board members are:

  • Edward Lonergan, former president and CEO of Chiquita Brands
    International Inc. (NYSE:CQB) and of Diversey Inc. He was president of
    Gillette Europe from 2002-2006 and spent more than 20 years before
    that in management at Procter & Gamble (NYSE:PG). Lonergan serves as
    executive chairman of Zep. Inc., chairman of DRB Systems and on the
    board of Owens Corning (NYSE: OC). He also is a senior adviser at New
    Mountain Capital.
  • Jonathan Peacock, former chief financial officer of Amgen Inc.
    (NASDAQ: AMGN) and former CFO of the pharmaceuticals division of
    Novartis AG (NYSE: NVS). Before joining the pharmaceuticals industry,
    Peacock was a partner at McKinsey and Co., where he was co-head of the
    European Corporate Finance practice. Earlier, he was a partner at
    Price Waterhouse in London and New York. He also serves as chairman of
    Arix Bioscience (LSE: ARIX), chairman of Bellerophon Therapeutics
    (NASDAQ:BLPH) and chairs the audit and finance committee of Avantor
    Inc. (NYSE:AVTR).
  • Lorne Abony, CEO of FastForward Innovations Ltd., an early-stage
    venture capital firm. He has raised more than $1.3 billion through the
    public and private debt and equity markets and is the former CEO of
    Mood Media Corp. and FUN Technologies. Both of which, under his
    leadership, were listed on the London Stock Exchange and Toronto Stock
    Exchange.
  • Eric Ball, general partner at Impact Venture Capital. He previously
    served as treasurer at Oracle (NYSE:ORCL), one of the world’s largest
    technology companies. He also chairs the audit committee at Glu
    Mobile, a publicly traded leader in 3D freemium mobile gaming.

To build the future we envision for Socati, we have always known we
would need proven leaders who share our vision for the growth potential
of this industry,” Socati CEO Josh Epstein said. “This important group
of executives brings years of invaluable experience in their industry
sectors, as well as the foresight to help mature the industry. Under
their guidance, we intend to bring much-needed certainty and stability
to the industry.”

The board appointments follow Socati’s recent acquisition
of Blue Marble Biomaterials
, a manufacturer of natural and
sustainable specialty compounds for the global food, fragrance and
cosmetic sectors.

Blue Marble’s 22,000-square-foot Missoula, Mont., production facility
will feature a proprietary, mass-scale manufacturing process capable of
processing 10 tons of hemp feedstock per working day. The testing
laboratory will be equipped with the most state-of-the-art analytical
capabilities to identify cannabinoids, ensure product purity and
quality, and confirm that its broad-spectrum hemp contains undetectable
levels of THC.

About Socati

Socati is a leading processor of broad-spectrum hemp extracts. The
company provides a top-quality and consistent product for a market
projected to reach $22 billion by 2022. Leveraging investments in new
technologies, Socati engages in large-scale manufacturing and has
logistics in place to process increasing amounts of hemp biomass to meet
customer demand. With the ability to manufacture broad-spectrum hemp
extracts at scale, Socati is built to serve the needs of large,
international CPG companies that are seeking high-quality raw materials.
To learn more about Socati, visit www.socati.com.

Contacts

Media:
Jarad Geldner
H+K Strategies
[email protected]
Phone:
215-858-5565

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