FOR IMMEDIATE RELEASE
TORONTO, ONTARIO – January 13, 2020 – Terrace Global Inc. (“Terrace Global” or the “Company”) (TSXV:TRCE) is pleased to announce that effective January 13, 2020, John Chou has been appointed as the Company’s Chief Financial Officer.
John brings extensive expertise in financial reporting, corporate finance, and systems and controls for both public and private enterprises, having served in a number of senior roles where he built and led finance operations in international and emerging markets. Prior to joining Terrace Global, John was the Vice-President, Finance of Gran Colombia Gold Corp., a leading gold producer with operations primarily in Colombia. Prior to that John was the Vice-President, Finance of Frontera Energy Corp., a leading oil and gas producer in Latin America and previously a manager with Deloitte in Toronto.
John is a Chartered Professional Accountant (CPA, CA) and holds an MBA from the Schulich School of Business at York University and a Bachelor of Commerce from the University of Toronto.
“We are very pleased to have John join our team. His global experience will be a key as for us as we grow our businesses internationally,” commented Francisco Ortiz von Bismarck. “We would like to thank Leon Dadoun for his time with the Company and wish him every success going forward.”
About Terrace Global
Terrace Global is a multi-country operator (MCO) led by experienced cannabis entrepreneurs focused on the development and acquisition of international cannabis assets. Terrace Global’s focus is on federally legal jurisdictions with existing domestic demand, low cost inputs and approved for exportation. Terrace Global’s existing asset platform consists of: (1) a 33.75% indirect equity interest in one of the currently two recreational cannabis operations in Uruguay; (2) 100% of Oransur, S.A., a Uruguayan company producing high CBD hemp in Uruguay; (3) 100% of Terra Nova Produção e Comercialização de Produtos Natuis e Farmacêuticos, Lda, a Portuguese company with a pre-license issued by INFARMED for the cultivation, importation, and exportation of medical cannabis in Portugal; and (4) 100% of Pharmabinoide S.L., a Spanish company producing and commercializing hemp in Spain. MariMed Inc. (OTCQX: MRMD), a multi-state cannabis operator in the U.S., dedicated to improving the health and wellness of people through the use of cannabinoids and cannabis products, owns approximately 6% of Terrace Global.
This news release contains certain forward-looking statements, including, but not limited to, statements about the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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