GATINEAU, Quebec, March 13, 2018 (GLOBE NEWSWIRE) -- The Hydropothecary Corporation (TSXV:THCX) (“Hydropothecary”) is pleased to announce the addition of three new members to its management team. Roch Vaillancourt (General Counsel), Sonia Isabel (Vice-President of Sales), and Jocelyn Racine (Vice-President of Finance) bring decades of management, financial, business, and legal experience to Hydropothecary as the company strengthens its leadership in the lead-up to the legalization of adult-use recreational cannabis.
“As we prepare to supply 20,000kg of cannabis to the Société des alcools du Québec and to expand into Ontario and other strategic markets, Roch, Sonia, and Jocelyn will play important and timely roles in the execution of our business strategy,” said Sebastien St-Louis, Hydropothecary’s co-founder and CEO.
Roch Vaillancourt brings almost 25 years experience in business and legal practice to his role as Hydropothecary’s General Counsel and Corporate Secretary. A graduate of Ottawa University (biomechanics and civil law), Roch is a member of the Barreau du Quebec as well as the Ontario and Canadian Bar Associations. He has been involved in several successful business ventures, both as an executive and legal advisor, most recently serving as General Counsel at Iovate Health Sciences International. Roch’s leadership and legal expertise have earned him a solid reputation among his peers, culminating in his inclusion as one of Canada’s top 100 General Counsels (Legal 500 GC Powerlist - 2016) and his inclusion in Legal Era Magazine’s London book release; “World’s Leading General Counsels - 2017-2018”.
As Hydropothecary’s General Counsel, he will play an integral role in crafting all aspects of the company’s business and legal strategy, including contract negotiations, ensuring regulatory compliance, managing legal and regulatory issues, and supporting management and the Board of Directors in all legal issues.
Also joining Hydropothecary’s management team is Sonia Isabel, Vice-President of Sales. Sonia’s track-record as a business development leader, as well as her entrepreneurial spirit, make her an invaluable member of the Hydropothecary team. She brings more than two decades of experience in various senior sales and marketing roles with the Société des alcools du Québec (SAQ) to the Hydropothecary team. As Vice-President of Sales, Sonia will play a key role in Hydropothecary’s success by leading the development and execution of the company’s sales, customer acquisition and customer retention strategies, focusing on the Quebec market and other markets across Canada and abroad.
Rounding out the most recent additions to Hydropothecary’s management team is Jocelyn Racine, Vice-President of Finance. Jocelyn brings three decades of financial management experience to the role, including in several executive level positions in the construction and telecommunications sectors. As Vice-President of Finance, Jocelyn’s will be responsible for the company’s day-to-day financial operations while providing senior management with financial insight. His expertise in financial, legal, operational, sales and human resources matters will be invaluable assets to Hydropothecary.
“I want to welcome Roch, Sonia, and Jocelyn to the Hydropothecary team,” said CEO Sebastien St-Louis. “The addition of a General Counsel, Vice-President of Sales, and Vice-President of Finance is another decisive step in securing our position as Quebec’s cannabis leader and supporting our expansion into Ontario and other markets.”
Additionally, the Company has made a grant of stock options under its stock option plan to certain of its officers to acquire a total of 325,000 common shares of the Company. All of the options are exercisable at a price of $3.89 per share. One-third of the options will vest on the one year anniversary of the date of grant and the balance will vest quarterly over two years thereafter. The options have a term of 10 years and are subject in all respects to the terms of THCX's stock option plan and the requirements of the TSX Venture Exchange.
About Hydropothecary Corporation
The Hydropothecary Corporation is an authorized licensed producer and distributor of medical cannabis licensed by Health Canada under the Access to Cannabis for Medical Purposes Regulations. Hydropothecary creates award-winning innovative, easy to use and easy to understand products. Hydropothecary is rapidly increasing its production capacity in the lead-up to recreational adult-use cannabis. Expansion plans will result in a total of 1.3 million sq. ft. of production space, producing 108,000 kg of dried cannabis per year, making Hydropothecary one of the largest producers in the country. With industry-leading cash cost per gram of $0.89, Hydropothecary is the lowest cost producer in the country. The first licensed producer in Quebec, Hydropothecary is headquartered in the province.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.