TORONTO, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Blueberries Medical Corp. (CSE: BBM) (OTC: BBRRF) (FRA: 1OA) (the “Company” or "Blueberries"), a Latin American licensed producer of medicinal cannabis and cannabis-derived products announced today that the Company received approval from the Colombian Agricultural Institute (“ICA”) for the registration of its nine psychoactive Tetrahydrocannabinol (“THC”) dominant strains with the national cultivar registry.
Blueberries today also announced that Mr. Camilo Villalba has resigned as the Chief Executive Officer (“CEO”) of the Company due to unforeseen personal reasons. Blueberries would like to thank Mr. Villalba for his service and significant contribution to the Company. Mr. Villalba will be available to provide consulting services to Blueberries.
"It is with great regret that I have to stand down from Blueberries so early in our company's evolution. I see such enormous potential both with the company and medicinal cannabis sector. However, some extremely unanticipated circumstances have arisen that have forced my hand, and I am unable to carry on. We have achieved tremendous milestones so far, and I would like to thank the board for having given me this opportunity."
The board is pleased to announce that is has appointed Mr. Christian Toro as the Interim CEO of the Company effective October 23, 2020. Mr. Toro will continue to act as the Executive Chairman of Blueberries in addition to assuming the Interim CEO role. With the ongoing Covid-19 crisis, the board has decided it would be inappropriate to appoint a new CEO at present. Instead, the focus will be on reducing costs and preserving capital.
Earlier this year, Blueberries implemented extensive cost saving measures of reducing administrative, capital and operational expenditures and preserving working capital to optimize its cost structure and focus on revenue bringing activities. Due to the ongoing impact of the Covid-19 pandemic, Blueberries is continuing its cost saving measures until revenues from sales commence.