Levitee Labs Appoints Philip Van Den Berg Interm CEOJumping ship or prelude to another acquistion?
Levitee appoints van den Berg interim CEO, director
2022-02-01 16:49 ET - News Release
Ms. Olivia Belcher-Coward reports
LEVITEE LABS ANNOUNCES PHILIP VAN DEN BERG TO JOIN AS INTERIM CEO AND THE BOARD OF DIRECTORS AND CLOSE FIRST TRANCHE OF PRIVATE PLACEMENT FOR $1.5 MILLION
Levitee Labs Inc. has appointed Philip van den Berg as interim chief executive officer and to the board of directors, replacing Pouya Farmand, who will be moving to the position of founder. In his role as founder, Mr. Farmand will continue to work with the company on key business development initiatives and help transition the leadership while Mr. van den Berg will be responsible for day-to-day operations. Mr. Farmand will also be stepping down from the board of directors.
Mr. van den Berg has been appointed as interim chief executive officer of Levitee, effectively immediately. He will also be joining the company's board. Mr. van den Berg is the co-founder and current chief financial officer of Halo Labs Inc. and co-founder of Olympus Capital, one of the first long-short hedge funds in Europe. During his career, Mr. van den Berg has held various positions within research departments, both as an investment analyst and head of research, including Goldman Sachs in London, where he was a founding member of the European research department and acted as a member of the investment committee.
"Pouya has done an incredible job taking the company from an idea to a leader in the mental health and pharmacy wellness space today. We will continue to push using the most up-to-date evidence-based practices. With multinational employees and multiple distribution channels throughout North America, the growth has been an incredible accomplishment. I will look to continue this aggressive growth pattern with a heavy focus on cutting-edge products, marketing techniques and acquisitions that I have learned through my years of experience," stated Mr. van den Berg.
The company also announces that it has closed the first tranche of its previously announced non-brokered private placement offering of 7.5 million units at a price of 20 cents per unit for gross proceeds of $1.5-million. Each warrant will be exercisable at 40 cents per share for a period of 24 months from the date of issuance. The proceeds raised from this offering will be used by the company for general working capital purposes, marketing and investor relations activity.
About Levitee Labs Inc.
Levitee is establishing itself as a leader in the integrative wellness space. Through integrating evidence-based complementary medicines into the traditional infrastructure of mental health and addiction services, Levitee aims to transform mental health and addiction treatments.
The company's current portfolio of assets includes: Levitee Clinics, a group of five operating addiction and pain treatment clinics in Alberta; Levitee Pharmacies, three pharmacies operating in Alberta specialized in filling prescriptions for patients with substance use disorders, mental health conditions and chronic pain; BlockMD, the first technology company in Alberta to receive provincial approval for electronic prescriptions in the addiction treatment space; and Earth Circle Organics, a direct-to-consumer and wholesaler of supplements and superfood products with 180-plus SKUs in its product lineup across three brands.
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https://www.stockwatch.com/News/Item/Z-C!LVT-3202515/C/LVT