Stone Douglass Joins Digipath’s Board of Directors
Rhea-AI Summary
On July 7, 2021, Digipath, Inc. (OTCQB: DIGP) announced the appointment of Stone Douglass as Vice Chairman of its Board of Directors. Douglass brings over 35 years of experience managing companies across various industries. He aims to leverage his expertise in corporate strategy and operations to strengthen Digipath’s position in the expanding cannabis testing market. Douglass emphasized that as legalization efforts grow, the demand for certified analytical testing labs, like Digipath, is increasing, positioning the company for significant growth.
Positive
- Stone Douglass's appointment brings extensive executive experience that could enhance strategic direction.
- Douglass's background in corporate strategy and operations may support Digipath's growth in the cannabis testing sector.
Negative
- None.
News Market Reaction – DIGP
In the trading session that priced this news, DIGP declined 1.85%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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Brings Decades of Experience to Digipath’s Leadership Team
LAS VEGAS, NV, July 07, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Digipath, Inc. (OTCQB: DIGP) (the “Company”), a service-oriented independent analytical testing laboratory company focused on the cannabis and hemp markets, announced today that noted business leader Stone Douglass has joined its Board of Directors as Vice Chairman. Douglass owns Ducks Nest Investments, Inc., a private investment company.
“We are delighted to add this highly-respected business leader to our Board of Directors,” said Bruce Raben, Digipath’s Chairman. “Stone brings decades of executive-level experience in both public and private companies in a wide array of industries. His functional expertise in corporate strategy, operations and finance will enhance our ability to successfully navigate the waters of growth and expansion for Digipath.”
For the past 35 years Mr. Douglass has served in a number of top-level management positions and has helped reorganize over 30 companies in industries as diverse as Piper Aircraft, RedEnvelope and Spy Optic. Mr. Douglass currently serves as CEO and Director of GeoSolar Technologies, Inc., CEO and Chairman of Empire Global Gaming, Inc., CEO and Chairman of The Birch Factory, Inc. and CFO and Director of P5 Systems, Inc., a technology platform servicing the legal cannabis value chain.
Stone Douglass, Vice Chairman of Digipath, said, “I believe Digipath is well positioned within the burgeoning cannabis testing sector. Driven by massive growth in the cannabis industry as more states move toward legalization, the demand for certified analytical testing labs has never been stronger. With Digipath now finding its stride after the past year of COVID, it is poised for growth as it implements its recently-announced multi-state operator strategy.”
About Digipath, Inc. (OTCQB: DIGP)
Digipath, Inc., supports the cannabis industry’s best practices for reliable testing, data acquisition, formulations, and new canna-tech to the cannabis industry.
Digipath Labs provides pharmaceutical-grade analysis and testing to the cannabis industry to ensure producers, consumers and patients know exactly what is in the cannabis they ingest and to help maximize the quality of its clients’ products through analysis, research, development, and standardization.
Information about Forward-Looking Statements
This press release contains “forward-looking statements” that include information relating to future events. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the Company's need for additional funding, the demand for the Company's products, governmental regulation of the cannabis industry, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other risks that may be detailed from time-to-time in the Company's filings with the United States Securities and Exchange Commission. For a more detailed description of the risk factors and uncertainties affecting Digipath, please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
Digipath, Inc.
702-527-2060