CannaOne Appoints Global Fintech Expert as President and CEO
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 ever-
evolving 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 "forward-
looking 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 forward-
looking statements or forward-looking information, including capital expenditu res, 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 for ward-looking statements or forward-
looking information that are incorporated by reference herein, except as required by applicable
securities laws.