Medicine Man Technologies Announces Appointment of Joe Puglise as Chief Operating Officer
DENVER, CO – December 18, 2018 – Medicine Man Technologies Inc. (OTCQX: MDCL) (“Medicine Man Technologies” or “Company”), one of the United States’ leading cannabis branding and consulting companies, today announced the hiring of Joe Puglise as its new Chief Operating Officer (“COO”).
In his role as COO, Mr. Puglise will be responsible for management of day-to-day sales and general operations activities. Mr. Puglise brings considerable experience in operational management, most recently at the Beekman Group where he serves as an Industry Partner and Board Member for a portfolio company holding, helping them to grow through both organic and acquisition means. Prior to that, he was President of New York properties for iHeartMedia, where he oversaw approximately 300 employees and almost $200m in annual revenue and $100m in annual EBITDA. Additionally, he has held board positions with organizations including the Ad Council of New York, the Annenberg Center at the University of Pennsylvania, Alliance for Lupus Research (ALR) 2014 Walk Co-Chair and Big Brother and Big Sisters of Central Arizona. Mr. Puglise is a 1992 magna cum laude graduate of the Wharton School of Business.
“As we continue to experience dramatic growth across the business, including entering new verticals that will enable to us to transition into a ‘plant touching’ business with significant room for growth, Mr. Puglise will fill a critical role ensuring that the Company continues to operate in the most efficient manner, while solidifying our foundation to support continued growth and success in the coming years,” commented Interim CEO Andy Williams.
“I am excited to be a part of a Company that has proven itself a pioneer in the cannabis industry, with a dynamic and growing client roster, backed by innovative branding and consulting capabilities,” Mr. Puglise said. “I look forward to leveraging my decades of leadership experience to further develop the Company’s client roster and improving organizational performance to support future growth.
About Medicine Man Technologies, Inc.
Established in March 2014, the Company secured its first client/licensee in April 2014. To date, the Company has provided guidance for several clients that have successfully secured licenses to operate cannabis businesses within their state. The Company currently has or has had active clients in California, Iowa, Oregon, Colorado, Nevada, Illinois, Michigan, Arkansas, Pennsylvania, Florida, Ohio, Maryland, New York, Oklahoma, Massachusetts, Puerto Rico, Canada, Australia, Germany, and South Africa. We continue to focus on working with clients to 1) utilize its experience, technology, and training to help secure a license in states with newly emerging regulations, 2) deploy the Company’s highly effective variable capacity constant harvest cultivation practices through its deployment of Cultivation MAX, and eliminate the liability of single grower dependence, 3) avoid the costly mistakes generally made in start-up, 4) stay engaged with an ever expanding team of licensees and partners, all focused on quality and safety that will “share” the ever-improving experience and knowledge of the network, and 5) continuing the expansion of our Brands Warehouse concept through entry into industry based cooperative agreements and pursuing other acquisitions as they prove suitable to our overall business development strategy.
Safe Harbor Statement
This press release may contain forward-looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the Securities and Exchange Commission. Among other matters, the Medicine Man Technologies may not be able to sustain growth or achieve profitability based on many factors including, but not limited to, general stock market conditions. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC filings. We have incurred and will continue to incur significant expenses in the expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long-term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations where we will be providing services, the impact of which cannot be predicted at this time.
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