Freedom Leaf Inc. (OTCMKTS:FRLF) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
On January 4, 2019, David Vautrin was appointed as a member of the Board of Directors of Freedom Leaf Inc. (the “Company”).
Mr. Vautrin brings invaluable Beverage and Cannabis expertise to the Company’s Board of Directors. He has a long successful track record in privately held and publicly traded, multi-billion dollar Consumer Packaged Goods (CPG) companies, as well as ownership and leadership in mid-cap and emerging growth organizations. Since March of 2017, Mr. Vautrin has been the Vice President of Sales & Marketing of Origin House (CSE: OH, OTCQX: ORHOF, formerly known as CannaRoyalty). Origin House provides investors unique access to diverse, high potential, growth-ready assets in North America’s emerging cannabis market. Mr. Vautrin just completed a two-year term as an Independent Director of New Age Beverages Corp. (Nasdaq: NBEV). NBEV is a healthy functional beverage company with a large portfolio of Beverage Brands sold in approximately 60 countries and domestically across retail and convenience stores. While on the Board of Directors, he also was on the audit committee and led the compensation committee for that company. During his tenure, the company successfully uplisted from the OTC to the NASDAQ exchange, raised over $100 million, acquired 5 companies, 4 brands, 11 patents, established robust governance, and increased liquidity of the stock while significantly expanding the company’s market capitalization. Since January of 2009, Mr. Vautrin has also been serving as a strategic advisor to DBC, a consumer goods company whose primary brand Pirouline® Rolled Wafer product is sold in approximately 30 countries and domestically, across retail channels including grocery, drug, export, value, e-commerce, food service and specialty distributors. Mr. Vautrin has also held other senior level positions, including CEO of Throwdown Industries Holdings from May 2009 to December 2016 and Senior Vice President of Cott Corporation (NYSE:COTT) from May 2007 to August 2008. He is a graduate of The State University of New York, Plattsburgh, with a degree in business administration.
In consideration of Mr. Vautrin’s first year of service as a member of the Board of Directors of the Company, Mr. Vautrin will be paid $75,000 per annum, payable in shares of the Company’s common stock valued based on the closing price as of December 24, 2018. As described in the Current Report on Form 8-K filed by the Company on August 3, 2018 (the “Current Report,” incorporated by reference herein), the Company was required by the private placement agreement described in the Current Report to take all necessary action after closing to appoint two nominees of Merida Capital Partners II, LP (“Merida”) as members of the Company’s Board of Directors, and Mr. Vautrin is the second of Merida’s nominees. Merida is a cannabis-focused private equity fund which was the lead investor in the Company’s private placement.
About Freedom Leaf Inc. (OTCMKTS:FRLF)
Freedom Leaf, Inc. (Freedom Leaf) is focused on being the national and international news source for the Cannabis/Industrial Hemp industry. The Company, through its online and print media channels, is engaged in dissemination of current legislation and legal news, arts and entertainment. The Company provides advertisements in publications, both print and online, in the cannabis/hemp marketplace. It provides consulting services to companies who are in its industry. It contracts with companies to brand, market and sell their products and/or services. It sells licenses, both domestic and foreign, for the use of the Freedom Leaf brand that includes its products and services. The Company also incubates other companies in the cannabis industry. The Company’s magazine, The Good News in Marijuana Reform, reports on arts, fashion and lifestyle, all of the elements of the burgeoning cannabis movements.
