CALGARY,   AB - TheNewswire - Nov 25,   2024  -   The   Hempshire   Group,   Inc.   (TSXV:   HMPG) ("Hempshire"  or  the  "Company"),  an  innovator  and  manufacturer  of  non-tobacco  and  non-nicotine smokable   alternatives   that   formulates   and   sells   its   own   proprietary   brand   of   hemp   smokes under MOUNTAIN®  Smokes globally, is pleased to announce the appointment of Mr. Shawn Balaghi as CEO, Director, and Chairman of the Board. The Company is also appointing Mr. Brad Kersch as a Director and Chief Operations Officer of Hempshire and Kevin Bautier as a Director.

 

Shawn and Brad join Hempshire at a pivotal moment as the Company is working to expand its market in Europe and South America with new distribution partners. Mr. Balaghi and Mr. Kersch bring a wealth of experience and will immediately focus Hempshire on innovation, and a diversification strategy around a portfolio of brands within the hemp, mental health and wellness categories, catering to the evolving needs of consumers globally. Through Shawn and Brad’s successful business ventures they believe Hempshire will have the necessary access to capital to build a successful and financially strong CPG company.

 

Bringing over 25 years of experience in the Canadian and US capital markets, Shawn has served as the CEO, CFO, and Director of several public and private companies -- holding key roles in corporate finance, corporate development, strategic planning, and corporate compliance with the securities regulators. Shawn has worked closely with some of the largest independent auditing firms in Canada and the US and has raised significant working capital for several start-ups and has led them to public listings in Canada, the US, and Germany. Shawn has also completed studies at Simon Fraser University supported by the Toronto Stock Exchange focusing on Canada’s complex system of securities regulation. Topics include fundamentals of corporate  governance,  securities  law,  shareholder  communications  and  investor  relations,  financial statement  requirements,  obligations  for  company  insiders,  understanding  TSX/TSX  Venture  Exchange requirements, and directors’ powers, functions, and liabilities.

 

Brad Kersch is a visionary entrepreneur and accomplished executive with decades of experience across diverse industries, including biotechnology, consumer goods, and media. As the CEO and Founder of Red Bioscience  Inc.,  Brad  has  driven  innovation  in  product  development,  implemented  strategic  business visions, reinforcing his expertise in corporate leadership and growth. The company has partnered with the University of British Columbia on a groundbreaking nasal product that eradicated the COVID-19 virus without  harming  healthy  human  cells  and  continues  the  research  on  the  effectiveness  against  the RhinoVirus.

 

Previously,  Brad  served  as  the  Founder  and  Chairman  of  a  TSX-listed  company,  where  he  oversaw compliance  with  Health  Canada,  managed  international  business  relationships,  and  secured  over  $15 million in financing. At Solace Management Group Inc., as CEO he guided the company to a 200% increase in profitability, spearheaded marketing strategies, and successfully executed its sale. Brad’s career reflects a consistent ability to develop businesses, foster international partnerships, and drive significant financial growth. While President of International Business Development with Online Film Services (Nasdaq) he was able to successfully navigate and secure sales of its multi-million-dollar enterprise software to FOX, Warner Brothers & Disney.

 

Mr.  Bautier  has  been  working  with  Hempshire  in  an  accounting  role  since  its  inception  in

2019. Kevin  Bautier is  a California based  accounting  professional  with  years  of  experience  in accounting,  bookkeeping,  payroll,  and  taxes.   Mr.  Bautier  has  an  entrepreneurial  focus  helping early-stage  companies  who  need  specific  accounting  and  financial  help. He  is  the  owner  of  an accounting  firm  employing  twenty-eight  accountants  filing  more  than  1,759  tax  returns  per year.   Additionally,  Mr.  Bautier  holds  the  position  as  Treasurer  for  non-profit  organizations  and some privately owned businesses.

Looking forward, Hempshire is set to expand its range of products in the hemp, mental health, and wellness sector by integrating emerging brands that complement its international sales goals. The Company views acquisitions as a crucial strategy for accelerating revenue growth and reaching profitability. By capitalizing on economies of scale, Hempshire aims to build lasting value for its shareholders.

 

“Many CPG brands in the industry face challenges like those encountered by most start-ups, particularly with rising costs in all aspects of product launches. We believe this presents an excellent opportunity for us to  acquire  brands  and  integrate  them  under  our  management.  By  streamlining  expenses  and  boosting revenue,  we aim  to conserve  cash and carefully monitor  our investments, focusing  on  the returns they generate for our company’s bottom line,” says Shawn Balaghi, CEO and Director.

 

Additionally, Shawn will work with Mr. Kevin Bautier, the current CFO of Hempshire, to immediately complete the regulatory requirement to resume trading on the TSX-V and continue to be compliant.

 

The Current Board of Directors of Hempshire have resigned. Hempshire wants to thank them for their contributions and wishes them well on their future endeavours.

 

About Hempshire

 

Hempshire  formulates  and  markets  MOUNTAIN®  Originals cannabidiol  hemp  smokes  (“CBD  Hemp Smokes”)   with   <0.3%   THC.   Hempshire   also   offers   private   white-labeling   services   and   contract manufacturing services, through its partners, for brands in the United States and internationally.

 

Information about the Company’s MOUNTAIN®  Smokes line of CBD Hemp Smokes can be found at the

Company’s ecommerce website at https://mountainsmokes.com .

 

For more information contact: Shawn Balaghi

Chief Executive Officer

604 773 0242

 

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.

 

Forward-Looking Statements

 

This  news  release  contains  forward-looking  statements  and  forward-looking  information  within  the  meaning  of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify  forward-looking  information  or  statements.  More  particularly,  and  without  limitation,  this  news  release contains forward-looking statements and information concerning the anticipated filing of the financial statements, the plans  of  new  management  and  board,  the  expansion  of  new  markets,  the  diversification  strategy,  the  acquisition strategy, expansion of new markets, and resumption of trading.

 

Hempshire believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Hempshire can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to inherent risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed.