ASX listed cannabis cultivator, ECS Botanics (ASX:ECS), has announced changes at the top and a new focus away from hemp and onto high growth and profit opportunities as a pure-play medicinal cannabis company.
- Sale of Tasmanian property and hard assets
- Divestment of industrial hemp Food and Wellness business division
- Anticipated reduction of ~$1.3m in operating expenditure per annum
As part of the transition to a pure-play medicinal cannabis company, Executive General Manager of medicinal cannabis, Nan-Maree Schoerie, will undertake the role of Managing Director from Alex Keach.
Existing Non-Executive Director Jeremy King will replace David McCredie as Non-Executive Chairman, and David McCredie will step down.