Bakhu Holdings, Corp. (OTC Pink:BKUH) announced a corporate restructuring to support future financing. The restructuring involves principal stockholders, holding 64.37% of common stock, agreeing to cancel four shares of Series A Preferred Stock, which have super voting rights. This action is conditional on securing at least $10 million from a proposed private financing through secured notes. The agreement also allows new investors to appoint three of five board members post-financing. If the financing is not completed by April 8, 2023, the agreement will terminate. There is no guarantee that the proposed funding will be finalized.
Bakhu Holdings (OTC PINK: BKUH) announced the appointment of two new independent directors, Tom Vaknin and Moshe Morgenstern, enhancing its board's expertise. The company, holding exclusive North American rights to patented cannabinoid growth technology, aims to leverage their business acumen to accelerate its growth strategy. Former members Sagi Rozen and Juan Carlos Garcia La Suerna Garcia will transition to advisory and CFO roles, respectively. This strategic move is expected to provide fresh insights while maintaining operational continuity.
Bakhu Holdings, Corp. (OTC PINK:BKUH) announced the hiring of Mitch Kahn, founder and former CEO of Grassroots Cannabis, as a consultant to boost marketing and financing efforts.
Kahn’s experience, particularly in the cannabis sector, is expected to help Bakhu optimize its patented cell replacement technology for cannabinoid production.
This technology aims to reduce cultivation costs and improve output quality, potentially enhancing Bakhu's market position in North America and the Caribbean.
Bakhu Holdings, Corp. (OTC PINK:BKUH) has named Michael R. Hawthorne, PhD, as the Deputy Chief Executive Officer to support President and CEO Evripides Drakos in expanding the company. Dr. Hawthorne brings nearly 30 years of experience in the bioscience industry, having held leadership positions at Pfizer, Genzyme, and Sangstat. His focus will be on capital market coordination, operational support, and building strategic partnerships to enhance revenue streams. Bakhu Holdings specializes in cannabis-related products using patented cell replication technology.
Bakhu Holdings, Corp. (OTC PINK:BKUH) has appointed Teddy C. Scott as the new CEO and Chair of the Board as of September 20, 2021. Scott, an industry veteran with over 20 years in biotechnology and cannabis, aims to transition the company from R&D to commercialization. His immediate goals include expanding the management team, exploring strategic transactions, and enhancing the company’s intellectual property portfolio. He succeeds Thomas K. Emmitt, who has resigned to pursue other interests.