Blueberries Medical CEO Resigns

Latin American cannabis producer Blueberries Medical BBM BBRRF announced on Monday the resignation of CEO Camilo Villalba.

Blueberries said Villalba will remain associated with the company as a consultant.

“I see such enormous potential both with the company and medicinal cannabis sector,” said Villalba. “However, some extremely unanticipated circumstances have arisen that have forced my hand, and I am unable to carry on. We have achieved tremendous milestones so far, and I would like to thank the board for having given me this opportunity." 

Executive Chairman Christian Toro has been appointed as Interim CEO.

The board stated they deem inappropriate to appoint a new CEO in the midst of the COVID-19 pandemic.

Blueberries will now place its focus on reducing costs and preserving capital. The company started a campaign to reduce administrative costs and operational expenditures at the start of the pandemic, and plans to continue along this line until revenues from cannabis sales starts coming in.

Registration of THC Cultivars: Blueberries is a licensed producer of medical cannabis with primary operation in Colombia. The company holds licenses to commercialize, manufacture and export THC-rich products and derivatives, and is currently on track to establish operations in Argentina.

On Monday, Blueberries also announced receiving approval from the Colombian Agricultural Institute to register its nine psychoactive THC-dominant strains with the national cultivar registry.

Courtesy Image

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CannabisNewsPenny StocksManagementMarketsBlueberries MedicalCarlos VillalbaChristian ToroColombialatin america
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Cannabis is evolving – don’t get left behind!

Curious about what’s next for the industry and how to leverage California’s unique market?

Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!

Get your tickets now to secure your spot and avoid last-minute price hikes.