Vancouver, British Columbia, February 26, 2020 – Harrys Manufacturing Inc. (“Harrys” or the “Company”) (CSE:HARY, OTCQB:WSRRF) is pleased to announce that it and its wholly-owned subsidiary, have appointed Ken Storey as its new President & Chief Executive Officer (“CEO”), subject to regulatory approval.
Mr. Storey continues to bring over 35 years’ experience in the tobacco industry to Harrys. Starting as an Imperial Tobacco (BAT) sales rep, Ken’s many roles include President of National Smokeless Tobacco Company, a subsidiary of U.S. Tobacco (now Altria), and Director of Sales for House of Horvath Inc., a family-owned manufacturer of cigars and importer of global brands. In those roles, Ken has led consumer-focused sales and marketing teams and he is credited with achieving consistent revenue growth. This experience has led him coast to coast (to coast) in Canada and introduced him to a strong network Industry associates. He has worked with International companies such as Swisher International, Royal Agio and General Cigar. Mr. Storey is recognized in retail and wholesale channels as a strategic supply channel partner and was honored as Outstanding Industry Leader of the Year in 2011 by the National Convenience Store Distributors Association. Ken currently sits on the Board of Directors of Sting Free AB, a private company in Sweden and patent holder in the Swedish Snus (smokeless tobacco product) Industry.
In order to facilitate Mr. Storey’s appointment, Kevin Kohanik has resigned from his position as President and CEO of the Company but will continue to serve on the Company’s board of directors. Mr. Kohanik has been the Company’s CEO and a director since October 15, 2018.
Ken Storey the new CEO stated; “Kevin has built a strong team and I look forward to spearheading Harrys business objectives for successful entry into the tobacco cigarette market in Canada”.
Granting of Options
Pursuant to its incentive stock option plan, the Company has granted incentive stock options to certain executives of the Company to purchase up to 1,000,000 common shares in the capital stock of the Company. The options have a term of five years and are exercisable at an exercise price of $0.16 per share. The Options vest as of the date of the grant. The Options and any common shares issued upon exercise will be subject to a four month and a day resale restriction from the date of grant.
Harrys is a wholesale distributor of value priced, high quality, 100% natural tobacco cigarettes. Harrys utilizes various types of tobacco blends to satisfy customer demands and preferences for products that meet Health Canada standards. Harrys’ management team brings over 50 years of combined experience in the domestic and international tobacco industry.
For more information, please visit: www.harrysmfg.com
ON BEHALF OF THE BOARD
“Kevin Kohanik” Director
For further information, please contact:
Corporate Communications Telephone: 778-378-9375 Email: IR@HarrysMFG.com
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary include, without limitation: uncertainties affecting the Company’s ability to enter the Canadian tobacco market and the Company’s ability to obtain any required provincial and federal licenses and registrations to operate in the tobacco industry. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.