Blueberries Medical CEO Resigns
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.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.