Elixxer announces Mr. Ferras Zalt as Executive Chairman
November 15 2019 - 7:30AM
Elixxer Ltd. (TSX-V: ELXR and OTC-QB: ELXIF)
(“
ELIXXER”) is pleased to announce that Mr. Ferras
Zalt has been appointed to the role of Executive Chairman with
immediate effect.
Mr. Zalt, representing Elixxer’s major
shareholders, joined the board of directors in April 2019 as the
non-Executive Chairman. In Mr. Zalt’s role of Executive Chairman,
he will now head up all corporate and operational aspects of the
Company’s activities. Mr. Zalt will be taking a salary of
$1.00 per year for the position.
Previously, Mr. Zalt has held positions at the
NASA Space Agency, and Compaq Computer Corp. in the USA. In 1995,
Mr. Zalt founded SoftTech, an IT consultancy business with a focus
on the energy sector to capitalise on the need for specialist IT
technical services particularly in the Oil and Gas sector. SoftTech
grew rapidly and went on to deliver the largest SAP installation in
the world at the time for Saudi Aramco. In 2001, Mr. Zalt sold the
company to Atos Origin achieving several fold returns on invested
capital and remained on as CEO to drive the business to further
success. In 2005, as a result of a global repositioning strategy,
Mr. Zalt had the opportunity to lead a management buyout of the
company and within two years sold the company to Hewlett Packard,
achieving significant returns to investors. In 2010, Mr. Zalt led
an investment management buyout in Gulf Energy, an Oil and Gas
full-service company. In three years, he sold the investment
achieving healthy returns. In the past five years, Mr. Zalt has
been developing an Energy from Waste project in the UK. Mr. Zalt
holds a Bachelor’s Degree in Computer Science and Mathematics and a
Masters Degree in Computer Science.
Mr. Zalt commented, “In this fast changing and
dynamic legal cannabis sector, successful companies not only look
at where the market is today but also where the market is going to
be tomorrow. We have a strong belief that the next big area of
growth in the legal cannabis industry will be supplying the
European pharmaceutical market with high quality medical cannabis
products. Elixxer Ltd.’s current portfolio is well positioned
to capture this growth and our future investments will be adding to
these capabilities. In addition, as the industry takes its
next steps towards maturity, we will be putting strong emphasis on
delivering revenues and profits from our investment portfolio and
into Elixxer Ltd.
About Elixxer Ltd.
(www.Elixxer.com)
Elixxer Ltd. is a Canadian incorporated public
company listed on the TSX Venture Exchange (TSX-V: ELXR) and the US
OTC-QB exchange (OTCQB: ELXIF). It currently has investments in
legal cannabis related businesses in Australia, Jamaica,
Switzerland, Italy, and Canada.
For further information please
contact:
President, John McMullen, +1-416-803-0698,
john@elixxer.com
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differ materially from those expressed or implied by such
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inherent risks and uncertainties surrounding future expectations.
Some important factors that could cause actual results to differ
materially from expectations include, among other things, general
economic and market factors, competition, government regulation and
the factors described under “Risk Factors and Risk Management” in
Elixxer’s most recent Management’s Discussion and Analysis filed on
SEDAR (www.sedar.com). The cautionary statements qualify all
forward-looking statements attributable to Elixxer and persons
acting on its behalf. Unless otherwise stated, all forward-looking
statements speak only as of the date of this press release, and
Elixxer has no obligation to update such statements, except to the
extent required by applicable securities laws.
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