Phivida Holdings Inc. Announces Director Departure and Appointment of New Independent Director

VANCOUVER and SAN DIEGO, Oct. 29, 2019 /CNW/ - Phivida Holdings Inc. (CSE: VIDA OTCQX: PHVAF) ("Phivida" or the "Company") announces that John Caruso, an independent director of the Company, has resigned as as director.  The board has appointed John Di Girolamo to the Company's board of directors as a new independent director of the Company.

Jim Bailey, Chief Executive Officer and a director, commented: "On behalf of management of the Company, we are grateful for the contributions of Mr. Caruso during his tenure as a director and we wish him well in the future.  I would also like to welcome Mr. Di Girolamo to our board, and we look forward to his valuable insight and perspective as a seasoned business professional with significant business experience in corporate finance and M&A."

John Di Girolamo is the Managing Partner of Liberty North Capital Corp., an independent, boutique investment bank focusing on finance and advisory services for both private and public companies.  Mr. Di Girolamo brings a wealth of capital market expertise having worked in the industry for 20 years. He has been an active investor and advisor to companies in the cannabis sector, and also acts as a director and President at Starling Brands, a manufacturer of premium cannabis products in California. Prior to founding Liberty North Capital, Mr. Di Girolamo held roles in trading and wealth management.

ABOUT Phivida Holdings Inc.

Phivida is headquartered in Vancouver, BC with operations in San Diego, CA. Phivida is a premium functional food and beverage company focused on whole plant nutrition and natural ingredients that help best maintain overall health and balance in the human body. The Company infuses active hemp extract/CBD into a variety of premium beverages and personal care products for everyday health. Phivida embraces and celebrates a return to organic, natural, plant-based foods and beverages, with a focus on holistic health and wellness. Phivida's vision is to become the leader in whole-plant solutions by providing holistic remedies for a more natural alternative to pharmaceuticals, and guiding people toward a vibrant, healthy life. For more information, visit phivida.com.

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements (other than statements of historical fact) may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions or negative variations thereof.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future, and are based on assumptions believed to be reasonable by management at the time they were made.  Readers are cautioned that undue reliance on forward-looking statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

The forward-looking statements and information contained in this news release are made as of the date of this news release and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the policies of the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified in their entirety by this cautionary statement.

Neither the Canadian Securities Exchange nor its Regulations Services Provider have reviewed or accepted responsibility for the adequacy or accuracy of this release.

SOURCE Phivida Holdings Inc.

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