CannaOne Appoints Global Fintech Expert as President and CEO
Vancouver, British Columbia--(February 10, 2021) - CannaOne Technologies Inc. (CNSX:CNNA.CN) (OTCPink:CNONF) (FSE:3CT) ("CannaOne" or the "Company"), is pleased to announce the appointment of Mr. Michael Penner as the President and Chief Executive Officer of the Company.
Mr. Penner’s Role and Experience
Mr. Penner will spearhead the implementation of strategic global business development initiatives for the Company. His initial mandate will be to marshal CannaOne towards the expansion of its merchant clientele, digital network infrastructure, corporate partnership efforts and overall technology adoption protocols as the Company seeks to provide turnkey international online and mobile marketplace and digitized payment solutions.
Mr. Penner has over twenty years as a C-level executive, formulating digital infrastructure and tactical business partnerships across Asia, the Middle East, and Africa. He has hands-on experience in building and operating digital communications networks, data analytics, artificial intelligence, and financial and payment technologies and solutions. Over the past 15 years, he has successfully worked with governments in several countries on license acquisitions and technology development projects.
Most recently, Mr. Penner was the Chief Operating Officer of a leading Canadian payment technology provider, which was one of the first to incorporate open banking and data analytics into bank account payment transactions and was further awarded a “Leaders in Lending Award” in the category of Fintech Innovation by the Canadian Lending Association. Mr. Penner is a Chartered Financial Analyst.
“I believe that my career has perfectly positioned me for this role with CannaOne. My global business expertise and relationships provide me truly apt qualifications to effectively deploy the CannaOne technology platform and payment solutions throughout the rapidly digitizing global market environment. As an organization, we have a unique opportunity to capitalize revenue development through the existing technologies, transaction flows, and strategic working relationships that I personally intend to bring to bear. I look forward to working diligently to exceed the expectations of the Board of Directors and shareholders of the Company as we strive to monetize the positive momentum we hope to develop,” concluded Mr. Penner.
Mr. Christopher Cherry who has been fulfilling the role of Chief Executive Officer will continue to work with the Company as Chief Financial Officer and member of the Board of Directors.
ABOUT CANNAONE TECHNOLOGIES:
Since inception CannaOne has focused on the commercialization of its proprietary online marketplace platform, BloomKit. Integral to the true intent and directive of the long-term planning of these efforts was a technology agreement in 2017 that allowed for the integration of a payment and financial technology platform to facilitate merchant sales within BloomKit. The company has since continued to work closely with payment technology providers, specifically in SE Asia, to ascertain the pathways to the greatest potential for future growth in the world's fastest growing digital payment markets. The Company currently has niche banking and FINTECH relationships in SE Asia, and with additional everevolving international relationships with parties principally focused on the facilitation of payment processing and bank acquiring infrastructure, the Company now sees potential to increase revenue over time with the continued integration and utilization of complete payment processing capabilities within our online marketplace solutions. CannaOne now seeks to become a global leader in financial technology, solutions, and services for B-to-B merchant clientele. The Company intends to implement a path towards growth that in future which may allow for the opportunity of additional growth through acquisitions, that may contribute critical technology applications and services that complement or enhance existing offerings, diversifying revenue by customer, geography, and various service offering. While CannaOne believes that significant near-term opportunities exist for the Company's solutions, there can be no assurance that customer agreements will be reached or that such agreements will be profitable should they be implemented.
For further information, please contact:
Michael Penner, CEO
604-396-9974
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The securities referred to herein will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
FORWARD-LOOKING STATEMENTS: Certain information contained herein may constitute "forwardlooking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be", or variations of such words and phrases or statements that certain actions, events, or results "will" occur. Forward-looking statements are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of CannaOne to be materially different from those expressed or implied by such forwardlooking statements or forward-looking information, including capital expenditures, other costs, or implied future forecasts. The Company further again cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. There can be no assurance that such statements 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 statements and information. CannaOne will not update any forward-looking statements or forwardlooking information that are incorporated by reference herein, except as required by applicable securities laws.