LANDSDOWNE, ON, Nov. 20, 2023 /CNW/ - Molecule Holdings Inc. (CSE: MLCL) ("Molecule" or the "Company"), a Canadian craft-focused cannabis beverage production company, today announces that Mr. Jeffrey Stoss has tendered his resignation as the Company's Chief Financial Officer, effective as of November 18, 2023. Mr. Andr Audet has agreed to serve as Interim Chief Financial Officer.
Mr. Audet is very familiar with Molecule's business, investor base and growth strategy. Mr. Audet is the Company's founder, current Chair of the Board and former President and Chief Executive Officer. Mr. Audet will serve as Interim Chief Financial Officer as the Company searches for a replacement.
Finance-Related Consulting Services Update
Further to the Company's press release dated September 15, 2023, the Company's relationship with the financial services company that assists the Company with finance-related consulting services has been terminated. The parties have not yet agreed to terms with respect to outstanding payments.
The Company is pleased to announce that it has entered into consulting agreements with two independent consultants (together, the "Consultants") to receive financial, accounting and bookkeeping services from the Consultants. The Consultants will work under the supervision of Mr. Audet in his role as Interim Chief Financial Officer and will work closely with Mr. Audet and the Company's management to complete the preparation of the financial statements, management's discussion and analysis and related officer certifications for the three and nine months ended July 31, 2023 as soon as possible, and in any event no later than December 31, 2023.