Kannaway and mum or dad firm Medical Marijuana seem like in disaster.
Following the acquisition of Mfinity World a 12 months in the past, Invoice Andreoli signed on as Kannaway’s new President.
In an communication despatched out final Friday, Kannaway has suggested Andreoli “and his government group … are transferring to a possibility with a brand new firm”.
That takes impact on the finish of November 2023.
Andreoli’s stint as Kannaway’s President hasn’t amounted to a lot. Outdoors of Mexico and Slovakia there isn’t a lot occurring.
SimilarWeb tracked simply ~15,000 visits to Kannaway’s web site in September 2023. Guardian firm Medical Marijuana’s inventory value is at half a cent, down from a excessive of 10 cents in February 2021.
Be mindful that is after the acquisition of Mfinity World and KZ1 over the previous 12 months. Neither of which appears to have paid off.
Of potential additional concern is Kannaway asserting a “robust new manufacturing and distribution group”. No concept what occurred to the earlier group.
As of December 2023, Kannaway will likely be headed up by present CEO Tim Scott. No different substitute executives have been named.
Particulars of Andreoli’s and his government group’s transfer are anticipated to be made public following the December transition.
One potential candidate is TranzactCard, following the acquisition of Kannaway’s affiliate and buyer data in July.