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Sproutly Canada Snags Another CPG Executive As President
As usual, another Sproutly Canada Inc (CNSX:SPR) (OTCMKTS:SRUTF) press release ducked under the radar, as the Aphria affair—and subsequent sector volatility—stole the spotlight. But for those paying attention, the company’s stealthy corporate build-out is quite material in nature. Nary a week after announcing two high-profile executives had joined its Boards, another big fish was reeled-in.
This morning, Sproutly Canada announced the hiring of Bryan Semkuley to the senior leadership team as President. He is tasked to accelerate the company’s strategic objectives of becoming a leading cannabis formulations company focused on beverages.
Cut from the same cloth as the previously announced hirings, Mr. Semkuley has extensive experience building new and existing brands and businesses through new product development, channel relationships and commercial innovation. Prior to joining Sproutly, Mr. Semkuley was Vice President, Global Innovation/Industrial Sector at Kimberly-Clark Corp., a NYSE-listed American multinational consumer packaged goods company. Previous to that, he spent over 25 years at Anheuser-Busch InBev—a $130B NYSE listed beverage company—and Labatt Brewing Co. as Vice President Global Innovation, Vice President of Global Brand Marketing, and Vice President of Marketing.
Now that three high-level beverage executives have enlisted, it’s not hard to see where this is going. In November, the company signed a LOI with Global Canna Labs Limited—supposedly the Caribbean’s largest medical cannabis producer—to establish a joint venture for the purpose of developing, producing, distributing, marketing and selling cannabis infused beverages. A couple weeks later, one prominent beverage executive joins the Sproutly’s Board of Directors, while another global Tier-1 executive joins its Advisory Board. Now, a third CPG/beverage professional has become the company’s president. It’s hard for me to imagine these dominoes falling if the company wasn’t close to emerging from its pre-revenue, build-out stage.
The next level includes commercial validation of its proprietary water soluble technology and subsequent cannabev rollouts.
In a sector mired in a lack of positive news flow, Sproutly Canada’s corporate personnel additions stand out. We await to see the fruits of these additions in 2019, and the company’s APP Technology underpinning it all.
Sproutly Canada rose $0.025 to $0.35 (7.69%) in Thursday’s trade.
Original article: Sproutly Canada Snags Another CPG Executive As President
©2018 Midas Letter. All Rights Reserved.
Source: https://midasletter.com/2018/12/sproutly-canada-snags-another-cpg-executive-as-president/
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