Sensible Meats Inc. (CBOE CA: HOTD) (FSE: OX4) (“Sensible” or the “Company”), a pioneer in plant-based meat alternatives, announces updates regarding its corporate leadership team and board of directors.
Sensible Meats is delighted to introduce Brad Nichol as the new Chief Executive Officer (CEO) and Nathan Steinke as the new Chief Financial Officer (CFO), both of whom will join the board of directors effective immediately.
"After careful consideration during my brief tenure as Interim CEO, I am confident in handing over the reins to Brad Nichol, who brings a wealth of experience and a proven track record in the capital markets, most recently with the successful exit from Alpha Lithium for over $300 million," said Chris Jackson, former Interim CEO. "I took on the CEO role to facilitate the transition to a responsible management team that we believe will significantly enhance investor confidence."
Sensible Meats expresses gratitude to Chris Jackson for his ongoing support as a founding investor and his past role as board member and Interim CEO. The company also extends appreciation to Chris Cherry for his service as CFO and board member and wishes him well in his future endeavors.
**Brad Nichol, P. Eng., MBA**
With over 30 years of experience, Brad has served as a senior executive and director in various public and private enterprises across the finance and resource sectors. He has led organizations through multiple rounds of financing, established international financial relations, overseen mergers and acquisitions, and executed asset acquisitions and financings in multiple jurisdictions. Brad earned his MBA at London Business School and holds a BSc. in Mechanical Engineering from the University of Alberta.
**Nathan Steinke**
Nathan brings over 20 years of finance experience in the international resource sector to his role as CFO and Director at Sensible Meats. His responsibilities have included managing all financial aspects of companies, including debt and equity financings, corporate structure management, cash flow forecasting, legal compliance, and stakeholder engagement.
Sensible Meats is pleased to report a strong cash position, with over $5,976,000 in reserves as of May 9, 2024, providing ample resources to pursue strategic opportunities for growth and expansion.
Given these management updates, Sensible's board is confident in the company's ability to pursue rapid change and explore new avenues for development, while enhancing shareholder returns.
In line with its commitment to growth, Sensible Meats is actively seeking a suitable target for a change of business within the 90-day timeframe required by the CBOE. The company aims to find a partner or acquisition target aligned with its mission and vision for the future.
As the strategic review process continues, the company intends to pursue its core strategic objectives to maintain and enhance the value of its current business and operations. Other than as described in this press release, the Company has not made any decisions related to strategic alternatives at this time.
About Sensible Hot Dogs (CBOE CA: HOTD) (FSE: OX4)
Sensible Meats Inc., dba Sensible Hot Dogs, is an innovative hot dog company focused on changing the playing field around America’s street food. The company’s goal is to transform the consumer experience of plant-based eating and to prove that tasty foods can also come from less processed, natural ingredients. Sensible is going above and beyond the impossible to deliver the world’s tastiest, healthiest, and smartest hot dog.
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On Behalf of Board,
Brad Nichol
Chief Executive Officer, Director
Forward Looking Statements
This press release contains statements which constitute "forward–looking information" within the meaning of applicable securities laws. Forward-looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" or similar expressions. Readers are cautioned that forward–looking information is not based on historical facts but instead reflects the Company's management's expectations, estimates or projections concerning the business of the Company's future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward–looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward–looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; decreases in the prevailing prices for products in the markets that the Company operates in; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; regulations and enforcement priorities of governmental authorities; compliance with government regulation and related costs; and other risks described in the Company's prospectus. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward–looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated, or intended. The Company does not intend, and does not assume any obligation, to update this forward–looking information except as otherwise required by applicable law.
The Company's securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
Neither the NEO Exchange nor any securities regulatory authority has approved or disapproved the contents of this press release.
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