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Weekend Unlimited taps experienced investment banker Michael Young as new board director

Young, who has vast boardroom and deal making experience, will replace David Parchomchuk who is stepping down from the board

Weekend Unlimited Industries Inc. - Weekend Unlimited taps investment banker Michael Young as new board director
The fresh board appointment comes as Charlie Lamb takes the reins of Weekend Unlimited as its new CEO

Weekend Unlimited Industries Inc (CSE:POT) (OTCQB:WKULF) said Friday that it has appointed finance industry veteran Michael Young as a director, replacing David Parchomchuk who is stepping down from the board.

The firm noted that Young has extensive senior executive management and trading experience in the Canadian and US capital markets. Throughout his career in finance and investment banking, he has built a strong network of Canadian, American, and international investors. He was managing director and co-head of trading for a Canadian investment bank. Before becoming the co-head of trading, Young established and ran the equity capital markets desk for the bank's US operations in New York City.

READ: Weekend Unlimited says CEO Chris Backus steps down, COO Charlie Lamb takes reins

It said Young sat on the board of ICC Labs, which was acquired by Aurora Cannabis Inc (NYSE:ACB) in 2018 and was also a founding shareholder and board member of Nuuvera, which was also acquired two years ago. He is a founding shareholder and chairman of US-based Better Choice Company Inc (OTCMKTS:BTTR) that invests in the animal health and wellness industry.

"We are thrilled to welcome Mike to the company's board. Mike's extensive cannabis and capital markets experience and knowledge will be a tremendous asset to the Company in meeting its objectives moving forward,” Weekend Unlimited's new CEO Charlie Lamb said in a statement.

“We would also like to thank David Parchomchuk for his valuable contribution to the board and the company," he added.

Young's appointment will bolster the board a day after former Weekend CEO Chris Backus resigned for personal reasons, and the company named COO Lamb as his successor.

Weekend Unlimited is a lifestyle-focused medicinal cannabis and CBD wellness company.

In June, Weekend signed a non-binding letter of intent to acquire 100% of Ruby Mae’s LLC, a cannabis-infused edibles producer in Oklahoma.

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

Quick facts: Weekend Unlimited Industries Inc.

Price: 0.07 CAD

CSE:POT
Market: CSE
Market Cap: $4 m
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Weekend Unlimited signs Letter of Intent to acquire all IP from Oklahoma...

Weekend Unlimited ((CSE: POT - OTCQB: WKULF) CEO Chris Backus joined Steve Darling from Proactive with news the company has signed an LOI to acquire 100% of the IP from the Oklahoma Cannabis brand Ruby Mae’s. Backus talks about this brand and just successful they have been in Oklahoma....

on 24/6/20

2 min read