TORONTO, September 17, 2019–(BUSINESS WIRE)–DionyMed Brands Inc. (“DionyMed” or the “Company”) (CSE:DYME; OTCQB:DYMEF), a multi-state cannabis brands, Direct-to-Consumer and distribution platform, today announced trading of the Company’s shares was halted on September 16, 2019 pending an agreement for a restructuring of its debt facility. The Company expects to provide details of such restructuring very shortly. Any restructuring may be subject to definitive documentation, corporate approvals and other regulatory and third party approvals.
In addition, it announced today an organizational update.
DionyMed is also announcing today the resignation of COO Pete E. Hilliard, effective immediately. Mark Zinselmeier, a consultant with the Company, who had been working with DionyMed on growing its Chill Direct-to-Consumer cannabis delivery service, has been named interim COO. Mark previously worked with Edward Fields, DionyMed CEO, at HotChalk as COO and Chief Partnership Officer. As a successful executive in the hyper-competitive online degree space, Mark spent the last 12 years leading universities in the launch and growth of their online enrollment programs. He was instrumental in building the infrastructure and processes to scale student recruitment, retention and grassroots marketing efforts that led to the graduation of tens of thousands of successful students.
At DionyMed, Mr. Zinselmeier will focus on expanding the growth rate of DionyMed’s concierge cannabis delivery service Chill.
We are fortunate to have someone of Mark Zinselmeier’s caliber and experience step up to the position of interim COO at DYME.
Edward Fields, CEO
We are at a critical moment in the cannabis industry and this assignment gives us the expert leadership needed to successfully implement our Direct-to-Consumer strategy.
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Founded in 2017, DionyMed is a multi-state cannabis brands platform, supporting cultivators, manufacturers and award-winning brands in the medical and adult-use cannabis markets. DionyMed sells branded products in every category from flower to concentrates and edibles. DionyMed serves cannabis consumers through retail dispensary distribution and Direct-to-Consumer fulfillment with its growing portfolio of award-winning brands. Learn more at DYME.com and follow @DYME_Inc on Twitter and LinkedIn.