Alchemist announces corporate rebranding as it shifts to cannabis technology from mining industry

Alchemist Mining Inc (CSE:AMS) said Tuesday that it’s rebranding its corporate image as the company makes the transition to cannabis technology from the mining industry.

The Vancouver-based company said in a press release that its mission is to invest and build a sustainable portfolio of companies in the global cannabis industry with an eye on creating shareholder value.

READ: Alchemist Mining appoints Paul Mann as CEO as company shifts to cannabis industry

The company added that it aims to be recognized as a global leader by providing reliable technology that makes businesses more efficient and profitable.

“Our strong strategic network, business partners and innovative solutions are now well-positioned to deploy disruptive technology solutions into the burgeoning cannabis sector, allowing existing administrative processes to be streamlined, all the while creating a holistic and intuitive user experience,” CEO Paul Mann said in a statement.

Last week Alchemist announced Mann’s appointment as CEO and said his predecessor, David Gdanski, is now serving as president. Alchemist also named Nashirudeen Meghji as interim chief financial officer, replacing Jamie Robinson.

The company added that it had closed the first tranche of a previously announced non-brokered private placement, for total gross proceeds of C$689,000.

Alchemist said Mann was largely responsible for the partnership agreement with Agua Technologies, announced earlier in December. Under that deal, Alchemist and Agua will deploy the Aqua suite of software and hardware products to cannabis operators throughout the US.

The company announced the shift to cannabis technology in September.

Contact Dennis Fitzgerald at [email protected]

Story by ProactiveInvestors