Hemptown Appoints New Chief Executive Officer

VANCOUVER, BC / ACCESSWIRE / May 5, 2020 / Hemptown Organics Corp (“Hemptown” or the “Company”), is pleased to announce the appointment of Eric Gripentrog as its new Chief Executive Officer.

Mr. Gripentrog has worked in the Consumer-Packaged Goods (CPG) industry for over 27 years. He joins the Company from his recent role at Panera Bread where he led their CPG division. While at Panera Bread, he increased topline revenue and EBITDA, and outperformed all other Panera business units. In addition to introducing Panera CPG soup into Kroger and Publix for the first time in ten years, he also built a 5-year strategic growth roadmap coupled with launching a new product category aligned to strategic growth roadmap. Prior to Panera, Mr. Gripentrog was an executive at the Kellogg Company where he held several different roles, both domestic and international for 25 years.

“Extending Hemptown’s position as a market leader in the CBG space is a task Eric is certainly equipped to handle,” said Michael Townsend, President of Hemptown. “Eric’s expertise goes beyond his impressive track-record with top-tier brands. It is his incredible ability to see the bigger picture that made him such an attractive option for the CEO position, and what much of his successful career can be attributed to. We have no doubt that Eric will fit in perfectly into our Executive Team. With his guidance, Hemptown will continue to build out its white-label capabilities and together work towards a liquidity event. We are excited to have Eric join the team.”

Mr. Gripentrog is known as a change leader. He has led several different businesses with full P&L responsibility, conducted business turnarounds, implemented start-up business units, restructured businesses, developed growth strategies and delivered impressive results in both profitability and sustainability. His strong background in the development, marketing and delivery of leading CPG brands, Mr. Gripentrog will play a major role in the growth of Hemptown as the company expands its footprint in the CPG space.

About Hemptown Organics Corp.

Hemptown is growing some of the finest hemp in the world to meet the global demand for cannabinoid-based products. Farmland spanning three states, product manufacturing capability and a strong leadership team are the pillars for Hemptown’s growth model as the Company pushes into the consumer packaged goods sectors with top quality white label and branded product lines for the consumer market. Hemptown’s fully operational (FDA-licensed and cGMP certified) nutraceutical manufacturing facility in Oregon gives the company a strong leadership position in a global market that continues to grow exponentially. For more information, visit www.hemptownusa.com.

Hemptown Investor Relations

[email protected]
604-200-5969

Disclaimer for Forward-Looking Statements

This news release contains forward-looking statements that involve various risks and uncertainties regarding future events. Such forward-looking statements are based on current expectations of management, involve a number of risks and uncertainties, and are not guarantees of future performance of the Elemental, Pragma, and Hemptown (the company). These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the closing date of the financing, the attributes of the securities to be offered and sold by the Company, the proposed use of the net proceeds of the Offerings. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors that may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include general market conditions, significant business, competitive, political and social risks and other factors beyond the control of the Company. The Company expressly disclaims any intention or 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.

SOURCE: Hemptown Organics Corp

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