LOS ANGELES, CA / ACCESSWIRE / June 20, 2019 / MCTC Holdings, Inc. (OTC PINK: MCTC) today announces a change of corporate control, a new board of directors and a new business model designed to maximize value for all shareholders. In addition, the Company announces today its intent to change its corporate name to Cannabis Global, Inc. in order to be in line with the new business direction. The Company has been reorganized to compete in the fast growing cannabis market sectors, including: 1) hemp cultivation, processing and distribution, 2) market for CBD consumer products, and 3) as an aggregator of cannabis intellectual properties.
Several highly experienced and well-established cannabis entrepreneurs have joined the new team as directors and executives of the Company. Mr. Arman Tabatabaei will serve as Chief Executive Officer and Chairman. Most recently, Mr. Tabatabaei has been a consultant for Sugarmade Inc (SGMD) on various growth initiatives relative to revamping various operations relative to the Company's hydroponic growth supplies. With over 15 years of management and operations experience, in addition to holding advanced degrees, he has earned a strong reputation for a numbers-based analytical approach to the management of organizations.
Mr. Robert Hymers has joined the Company as a director and as a consultant and has significant experience in the cannabis sector and as a financial executive and consultant. Mr. Hymers is the Managing Partner of Pinnacle Tax Services in Los Angeles and was previously Chief Financial Officer and Director of Marijuana Company of America, Inc. (MCOA). He currently serves as a member of the Strategic Advisory Board at MassRoots, Inc., as a consultant for Sugarmade Inc. (SGMD).
The Company is also today announcing that Edward Manolos has joined the Company as a director. Mr. Edward Manolos is a founder and Director at Cannabis Global, Inc. and is one of the most accomplished pioneers in California's Medical Marijuana industry. In 2004, he opened the very first Medical Marijuana Dispensary in Los Angeles County under the name CMCA. He has managed and operated over thirty-five dispensaries from Los Angeles to San Jose including twenty in Los Angeles. He is also credited with starting Los Angeles' first Medical Marijuana farmers market referred to as "The California Heritage Farmer's Market," which attracted local and international media attention and was the first of its kind. He is currently a member of the board of directors of Marijuana Company of America (MCOA). In 2016, Mr. Manolos was appointed to the advisory board of Marijuana Company of America and was tasked with identifying and structuring strategic partnerships and driving product development.
The new board of directors and the new CEO of the Company plan to enter the legal hemp and medical marijuana markets over the coming weeks with information being made available to investors as developments occur.
The Company is in the formative stages of developing a direct industrial hemp cultivation operation, a program to manage the cultivation of industrial hemp and a program to manufacture and market various types of hemp infused edibles. The Company plans strict adherence to rules and regulations of the 2018 Farm Bill and strict adherence to all state and local laws and regulations.
About MCTC Holdings, Inc.
MCTC Holdings, Inc. is a Delaware registered publicly traded company. The Company was reorganized during June of 2019 and announced its intent to enter the fast growing cannabis sector and its intent to change its corporate identity to Cannabis Global, Inc. More information in the Company can be viewed at www.CannabisGlobalinc.com.
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FORWARD-LOOKING STATEMENTS: This filing contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance. At this time there are no assurances the Company's acquisition efforts will be successful.
SOURCE: MCTC Holdings, Inc.