Seattle, Washington--(Newsfile Corp. - December 6, 2021) - Pervasip Corp. (OTC Pink: PVSP) ("Pervasip" or the "Company"), a developer of companies and technologies in high value emerging markets, and its subsidiaries, Artizen Corporation ("Artizen") and Zen Asset Management LLC ("ZAM"), a diversified asset management company that was founded to acquire, develop, and support companies and technologies in the cannabis industry, today announced the appointment of German Burtscher as President and Chief Executive Officer of Pervasip and its subsidiaries.
German has deep experience driving the formation, financing, management, and growth of early-stage companies in several industries, with a specialization and extensive network in all aspects of growing and processing cannabis, from genetics to grow development (greenhouse and indoor), to large scale operations, processing, distillation, marketing and sales.
Paul Riss, Pervasip's chairman and former chief executive officer, said, "We are extremely excited by the appointment of German as our new president and chief executive officer. German has a proven track record of excellence and performance in the cannabis industry, especially in Washington State's highly regulated market. The Artizen brand is recognized as one of the most reputable leading consumer brands in Washington state, with tremendous consumer and retailer recognition. We believe that ZAM's more than $14 million in revenue is very scalable with the right investment and management. We're excited to have German as the tip of that spear for our shareholders."
ZAM provides services to several customers in Washington State, including four licensed cultivation facilities and one licensed processing facility, under a series of consulting, leasing, intellectual property licensing and other long-term agreements. ZAM also owns the IP to one of the most successful cannabis brands, ArtizenTM. As one of Washington's original cannabis brands, ArtizenTM - branded products are the all-time fourth best-selling in Washington across all product categories, and the all-time third in flower. The commitment to quality and consistency behind Artizen™ has built a substantial following, fueling more than $69 million in wholesale sales to a distribution network with more than 200 retailers, corresponding to more than $200 million in retail value since inception in 2015. ZAM is looking to expand its service into Oregon and California through similar long-term arrangements with cannabis licensees operating in these states.
"I'm personally thrilled to accept this appointment," added German Burtscher, the Company's new president and chief executive officer. "We believe that there is an obvious disparity between Pervasip's current revenues and earnings, and its current share price and market capitalization, which are disproportionately lower than comparable cannabis companies. We have a leading brand, great assets, an exceptional team, and a solid plan to grow sales and earnings with organic market development and acquisitions. We're looking forward to executing that plan while we reset our market price and build historic shareholder value."
Biography
German has been a passionate visionary and entrepreneur since the late 1980s when he contributed to increasing the business of WorldCall Telecommunications from annual revenues of $2 million to more than $100 million. He was subsequently president and co-founder of GlobalTel Resources, Inc., and held executive positions with eCharge Corporation, an internet payment services provider. For the past 7 years, German has led the formation, operation and growth of multiple cannabis ventures, including the regulated Washington recreational marijuana market in which ZAM's current operations are based. German most notably developed and launched Willie Nelson's Willie's Reserve cannabis brand in Washington state, where he led the company as president and chief executive officer from inception, through regulatory approvals and buildout to full roll-out of the brand. In January 2018, German as a co-founder, assisted in launching and implementing a multi-brand strategy through Recovery Brands and the licensee that distributes its brands, Minglewood Brands in Washington state. Minglewood successfully took many brands to market, including Exotikz (a Jungle Boys/Berner collaboration), Lemonnade, Cookies, KSavage, HighTide, and PlugPlay, resulting in over $1 million in monthly sales to more than 200 retail stores. German has a degree in business management from the University of Austria.
Pervasip Corp.
Pervasip Corp. (PVSP) is a developer of companies and technologies in high value emerging markets and owns 100% of Artizen Corporation ("Artizen Corp"). Artizen Corp's wholly owned subsidiary, Zen Asset Management LLC ("ZAM"), is a diversified asset management company founded to acquire, develop, and support companies and technologies in the cannabis industry. ZAM's existing clients operate four licensed cannabis cultivation and one processing facility in Washington. Most of the biomass produced by these independent cultivators has been sold historically under the Artizen™ brand, including all-time top selling products in flower in Washington state. For more information about Artizen branded products, visit: www.artizencannabis.com
Forward-Looking Statements
This news release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as may, would, could, will, likely, except, anticipate, believe, intend, plan, forecast, project, estimate, outlook, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the objectives and business plans of the Company; ability to realize benefits from its recent corporate appointments; ability to retain its key personnel; the intention to grow the Company's business and operations; the competitive conditions of the industries in which the Company operates; and laws and any amendments thereto applicable to the Company. Forward-looking information is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; and the Company's ability to secure financing on reasonable terms. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company's periodic disclosure statements. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
For further information, please contact:
T: 855-464-2535, Extension 1
E: info@pervasip.net
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106719
