Cannabis Sativa, Inc. (OTCMKTS:CBDS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of Mr. Gray from the Board of Directors
On September 29, 2017, at a Board of Director’s meeting of the Company, Director and Chairman of the Board James P. Gray notified the Board of his decision to resign from the Board of Directors by the end of 2017 in order to devote greater time to other personal and business endeavors. Upon discussion, the Company accepted Mr. Gray’s resignation as Director and Chairman of the Board effective September 30, 2017. Mr. Gray’s resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
Election of Mr. Downing as Chairman of the Board of Directors
On September 29, 2017, the Board of Directors of the Company elected Stephen Downing as the Company’s Chairman of the Board effective October 1, 2017. The Company has not yet approved separate compensation for Mr. Downing’s service as Chairman of the Board.
Mr. Downing served as a member of the Los Angeles Police Department for 20 years. He started as a patrol officer and rose through the ranks working assignments that included vice, narcotics, detectives, and staff and command positions, ultimately being appointed to the rank of Deputy Chief of Police, where he oversaw the LAPD’s Special Investigations and Personnel and Training Bureaus. While still on the force, Downing wrote for numerous network television series. After retiring from the LAPD, Mr. Downing expanded his creative endeavors into television production, working both as a writer and producer, ultimately becoming the executive producer/show runner of several series including MacGyver, Robocop, and Fx –The Series. Mr. Downing has been semi-retired for the past 10 years. During that time, because of his law enforcement experiences commanding the LAPD’s narcotic enforcement program, he has become a nationally recognized advocate for finding an exit strategy to end the war on drugs. In addition to serving as Director and Chairman of the Board for the Company, Mr. Downing divides his time between drug reform advocacy and his love of creative writing.
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About Cannabis Sativa, Inc. (OTCMKTS:CBDS)
Cannabis Sativa, Inc. develops and promotes natural cannabis products. The Company is engaged in the research, development and licensing of natural cannabis products, including cannabis formulas, edibles, topicals, strains, recipes and delivery systems. The Company plans to develop, produce and market products through joint ventures with companies licensed under state regulations applicable to cannabis businesses. It holds the license for a medicinal cannabis strain called NZT, a cannabis lozenge delivery methodology, and a cannabis trauma cream formula. The Company is also developing a third strain of cannabis plant named CT22. The Company also conducts its operations through its subsidiary, Wild Earth Naturals, Inc. (Wild Earth). Wild Earth is an herbal skin care products formulation and marketing company that plans to target the natural healthcare products market in the United States and abroad. It offers Go Deep, Go Deep EXTRA (GDX), Face Garden, Body Garden and Lip Garden.