Eden Empire Announces Management Changes

VANCOUVER, British Columbia, July 06, 2021 (GLOBE NEWSWIRE) — Eden Empire Inc. (CSE: EDEN) (the “Company” or “Eden Empire” or “EDENTM“) is pleased to announce that Samuel Isaac has joined its executive team as Chief Financial Officer (“CFO”) to assist during its push into the United States cannabis market.

Mr. Isaac brings over a decade of international capital markets experience to EDENTM notably having been previously involved as the CFO for a California based pharmaceutical company focused on cannabis. Prior thereto, Mr. Isaac worked as the VP, Finance and Controller for a TSX listed company in the cannabis sector. Prior thereto, Mr. Isaac was based in the UK, working as interim manager with private-equity backed portfolio companies focused on the real estate and retail sectors. Mr. Isaac has been involved in raising over $100 million in equity capital and has managed an aggregate of $1 billion in debt financing for public and private companies.

“We are pleased to welcome Samuel to our leadership team,” said Gerry Trapasso, CEO for EDENTM. “His deep and extensive experience in leading financial operations, as well as experience with raising capital in the public markets will be a massive asset as Eden Empire looks to expand its retail footprint in the US.”

“Joining Eden Empire is a stimulating moment for my career as the organization sets its path towards the US cannabis market,” said Mr. Isaac. “It’s a company with a strong branding presence and backed with a robust Board of Directors.”

As CFO, Mr. Isaac will be responsible for accounting, treasury management, finance, planning and forecasting, tax, M&A support, and financial and management reporting as EDENTM continues to expand its retail footprint across Canada and the United States. Mr. Isaac has a Bachelor of Commerce degree in Accounting from the University of Alberta, and holds the CPA, CA designation.

Mr. Isaac replaces Cale Moodie, EDEN’s previous CFO. Mr. Moodie has also resigned from his position as a director of the Company. EDEN thanks Mr. Moodie for his contributions to the Company and wishes him all the best in his future endeavours.

For further information or should you have any questions, please feel free to email us at investors@edenempire.com.

Gerry Trapasso, CEO

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.

About Eden Empire

Eden Empire is in the business of investments and operations in the cannabis sector and engaging in retail cannabis sales. Eden Empire intends to expand its retail operations in Canada and to expand its business to cannabis cultivation, extraction and processing‎ and become a fully integrated cannabis product company in the United States.

Eden Empire has an award winning and established nationwide brand, including a substantial intellectual property portfolio, and a dedicated management team with extensive cannabis industry experience. Upon completion of Eden Empire’s currently intended acquisitions, and approval to operate its retail locations, the Company is expected to have a significant retail cannabis footprint in Canada and Michigan. Retail cannabis operations are an emerging sector with significant cash flow potential.

Cautionary Note Regarding Forward-Looking Statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “upon” “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements and information include, but are not limited to, the potential of the Company to expand its retail footprint; the Company’s future operations of retail cannabis stores in the United States and Canada; the Company expanding its business to cannabis cultivation, extraction and processing and becoming a fully integrated cannabis company in the United States; the completion of the Company’s currently intended acquisitions; the receipt of all necessary licenses and approvals to operate the Company’s retail locations; and the proposed future transactions Eden may undertake and their expected timing.

Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Eden Empire to control or predict, that may cause Eden Empire’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: Eden Empire may not obtain the requisite regulatory approvals and may not begin operating cannabis retail or cultivation and processing operations; that the actual use of proceeds may differ from those currently stated; the inherent risks involved in the general securities markets; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; currency fluctuations; regulatory restrictions and the possibility for changes in laws, rules, and regulations in the industry; liability, competition, loss of key employees and other related risks and uncertainties. Eden Empire does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements.

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