Vancouver, British Columbia--(Newsfile Corp. - August 14, 2019) - CENTR Brands Corp. (CSE: CNTR) (the "Company") is pleased to provide the following corporate update on several strategic initiatives and corporate hires:
Successful Initial Productions and Test Commercialization Launch - the Company successfully completed its first two commercial-scale production runs of CENTR, its sparkling, low-calorie CBD beverage. These production runs were completed in Q1 2020, in line with the Company's earlier guidance. With these two production runs completed, the Company has now launched marketing, sampling and test commercialization of CENTR's 15mg CBD and 30mg CBD versions. These activities are occurring on the west coast of the United States this summer, ahead of earlier guidance.
Sales Hires - the Company is also pleased to announce the hiring of (i) Paul Geronimos as District Manager - California and (ii) Stacey Rivas as National Accounts Manager, both reporting to CENTR's VP Sales Art Danner. Based in the Napa Valley, Paul joins the CENTR team with a long and successful career launching and supporting beverage brands at a national level for suppliers and distributors such as Young's Market Company. Based in San Diego, Stacey joins CENTR after a successful tenure as a National Accounts manager for Nestle Waters, supporting clients such as 7-11.
Joseph Meehan, the Company's President and Chief Executive Officer, said, "We are pleased that CENTR is moving swiftly on its production and corporate development milestones. The outstanding work of our production and management teams allows us to build significant momentum, moving smoothly from development of CENTR as a branded beverage concept to physical production on time and on budget. This alignment of purpose was a key consideration for Stacey and Paul when they joined CENTR - together we will continue to build a strong company and long-term success for our delicious CBD beverages."
About CENTR Brands Corp. CENTR Brands Corp. is involved in the development and marketing of beverages infused with hemp-derived extracts and derivatives. The Company is focused on the creation and launch of a global brand for the cannabidiol (CBD) infused beverage market. The Company's first product, named CENTR, is a sparkling, low-calorie, CBD beverage.
For further information, contact Joseph Meehan at 1.604.733.1514.
On behalf of the Board,
CENTR BRANDS CORP.
Joseph Meehan, Chief Executive Officer
This news release may contain certain "Forward-Looking Statements" within the meaning of applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the development of the business of CENTR Brands Corp., the timing for the launch of the Company's products and other matters. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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