Chalice Brands Ltd. Announces Appointment of Richard Lindsay as Interim Chief Financial Officer

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Chalice Brands Ltd.

PORTLAND, Ore., June 23, 2022 (GLOBE NEWSWIRE) — Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF) (the “Company” Where “chalice marks”), a leading consumer-focused cannabis company specializing in retail, production, processing, wholesale and distribution, is pleased to announce the appointment of Richard Lindsay as Managing Director Chief Financial Officer (CFO), effective immediately, while the company conducts the search for a permanent Chief Financial Officer. This appointment follows the resignation of Andrew Marchington who will be leaving the Company for personal reasons after a brief transition period. Mr. Marchington will serve as a consultant to support a smooth transition.

“I am delighted to welcome Richard as Interim Chief Financial Officer, who will be integral to accelerating growth and opportunity for Chalice as we become a leading cannabis operator on the West Coast,” said said Jeff Yapp, President and CEO of Chalice Brands. . “Richard’s financial expertise in a number of challenging leadership positions will be an invaluable addition to the Chalice team as we prepare to achieve financial and business milestones this year and continue on the path to profitability. .”

Mr. Lindsay comes to Chalice Brands with over 25 years of financial management and advisory experience in highly regulated consumer products and manufacturing companies. He has extensive experience in turnaround management, strategic planning, mergers and acquisitions and CFO office functions. Prior to joining Chalice Brands, Mr. Lindsay was an independent consultant providing interim CEO and CFO services to breweries, distilleries and cannabis companies in the areas of mergers and acquisitions, strategic planning and business process redesign. . He has held CEO and CFO positions, including as CFO of a publicly traded company for the Boston Beer Company (SAM), StockerYale, Inc. (STKR), and Bentley Pharmaceuticals (BNT). Mr. Lindsay is a Chartered CPA and began his accounting and finance career with KPMG in their manufacturing, retail and distribution practice. He earned a BS in Accounting from the University of Massachusetts and a Masters of Business Administration (MBA) from Northeastern University. Mr. Lindsay is a US Navy veteran who has performed twice aboard two nuclear submarines as a nuclear reactor operator and electronics technician.

Mr. Lindsay will help Chalice Brands lead the filing of its annual audited financial statements, as well as the search and selection of a permanent chief financial officer.

Jeff Yapp added: “On behalf of the Chalice team, I would like to thank Andrew for his contributions as Chalice’s Chief Financial Officer over the past few years. His experience and highly efficient execution of many successful activities has been crucial to our long-term strategy, and we wish him and his family all the best.”

About Chalice Brands Ltd.
Chalice Brands is a leading consumer-focused cannabis company specializing in production, processing, wholesale, distribution and retail, with 12 owned dispensaries and six operated dispensaries in Portland, Oregon and around around. The company is committed to developing a dynamic portfolio built around trusted Chalice Brands brands, including Chalice Farms, Left Coast Connection, Homegrown Oregon and Cannabliss & Co., with a focus on health and wellness. Chalice operates nationwide through Fifth & Root and has operations in Oregon and California. Visit investors.chalicebrandsltd.com/ for regular updates.

Investor Relations:
Jean Varghese
Executive Chairman
Chalice Brands Ltd.
971-371-2685
[email protected]

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Bourse) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer: This press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information includes, but is not limited to, statements regarding the future business activities of the Company, the opinions or beliefs of management and future business objectives. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is planned”, “budget”, “expects”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or declares that certain actions, events or results “could”, “could”, “could”, “could” or “will be taken”, “will occur” or “will be carried out”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied. by such forward-looking information. These risks include, but are not limited to, general business, economic and competitive uncertainties, regulatory risks, market risks, risks inherent in manufacturing and retail operations such as unexpected costs and production, difficulties in maintaining brand loyalty and other risks of the cannabis industry. . Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be those anticipated, estimated or expected. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is provided herein for the purpose of presenting information about management’s current expectations regarding the future and readers are cautioned that such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws. This press release does not constitute an offer of securities for sale in the United States, and such securities may not be offered or sold in the United States absent registration or an exemption from registration or an exemption from registration.

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