Blueberries Medical CEO Resigns

Latin American cannabis producer Blueberries Medical BBM BBRRF announced on Monday the resignation of CEO Camilo Villalba.

Blueberries said Villalba will remain associated with the company as a consultant.

“I see such enormous potential both with the company and medicinal cannabis sector,” said Villalba. “However, some extremely unanticipated circumstances have arisen that have forced my hand, and I am unable to carry on. We have achieved tremendous milestones so far, and I would like to thank the board for having given me this opportunity." 

Executive Chairman Christian Toro has been appointed as Interim CEO.

The board stated they deem inappropriate to appoint a new CEO in the midst of the COVID-19 pandemic.

Blueberries will now place its focus on reducing costs and preserving capital. The company started a campaign to reduce administrative costs and operational expenditures at the start of the pandemic, and plans to continue along this line until revenues from cannabis sales starts coming in.

Registration of THC Cultivars: Blueberries is a licensed producer of medical cannabis with primary operation in Colombia. The company holds licenses to commercialize, manufacture and export THC-rich products and derivatives, and is currently on track to establish operations in Argentina.

On Monday, Blueberries also announced receiving approval from the Colombian Agricultural Institute to register its nine psychoactive THC-dominant strains with the national cultivar registry.

Courtesy Image

Posted In: Blueberries MedicalCarlos VillalbaChristian ToroColombialatin americaCannabisNewsPenny StocksManagementMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.