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Target Capital Announces Director Changes

CALGARY, Alberta, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Target Capital Inc. d.b.a. CBi2 Capital (“CBi2” or the “Company”) is pleased to announce the appointments of Ron Hozjan and Theo Zunich as directors of the Company.

Mr. Hozjan has been the Vice President, Finance and Chief Financial Officer of Aureus Energy Services Inc., a private water management services company, since January 2020. In addition, Mr. Hozjan is a director of: (i) YSS Corp., a public cannabis retailer; (ii) Aloha Brands Inc., the parent company of Aloha Naturals Co., a private producer and retailer of hemp-based consumer products, and of Aloha Cannabis Co., a private cannabis licensed producer applicant; and (iii) Aither Ingredient Corp., a private, joint-venture partner in Canada’s only bulk cannabinoid-based active ingredient manufacturing campus, with Thar Process, Inc. Mr. Hozjan was the Vice President, Finance and Chief Financial Officer of Tamarack Valley Energy Ltd. from June 2010 until January 2020. Mr. Hozjan is a Chartered Professional Accountant with over 30 years of oil and gas experience and over 20 years of experience as a senior financial officer. Prior to Tamarack Valley Energy Ltd., Mr. Hozjan served as the Chief Financial Officer of Vaquero Resources Ltd., which was acquired by RMP Energy Ltd. Prior thereto, he was the Vice President, Finance and Chief Financial Officer at a predecessor firm, Vaquero Energy Ltd., which grew successfully before merging with Highpine Oil & Gas Limited. Previously, Mr. Hozjan held various senior finance positions at Storm Energy Ltd., Beau Canada Exploration Ltd. and Renaissance Energy Ltd.

Mr. Zunich has been the President, Chief Executive Officer and a director of YSS Corp., a public cannabis retailer, since March 2019 and, prior thereto, was the Vice President, Corporate Development of YSS Corp. since August 2018. Prior to joining YSS Corp., Mr. Zunich worked in roles of increasing responsibility at several independent investment banks, most recently as Principal, Investment Banking at Eight Capital. Mr. Zunich has over ten years of investment banking experience, during which he was involved in more than 100 M&A, financing and related advisory mandates for aggregate transaction value of over $12 billion. Mr. Zunich has extensive experience in the cannabis, energy and technology industries from both an investment banking and merchant banking perspective. 

The Company believes the addition of Messrs. Hozjan and Zunich will enhance the Company’s ability to evaluate and consummate a transaction in the broader cannabis industry.

In addition, the Company announces that each of Chad Oakes and Gregory G. Turnbull has resigned as a director of the Company. The Company wishes to thank Mr. Oakes and Mr. Turnbull for their contributions to the Company.

About CBi2 Capital

Target Capital Inc. d.b.a. CBi2 Capital, is a Calgary, Alberta based company executing on a cannabis focused investment strategy, where it intends to develop and manage a diversified portfolio of predominantly early stage cannabis investment opportunities. The Company’s common shares are listed on the TSX Venture Exchange and the Canadian Securities Exchange under the trading symbol “TCI”.

For additional information please contact:

Phone: 403.351.1779

Forward-Looking and Cautionary Statements

This news release may include forward-looking statements including the Company’s objectives, opinions and assumptions. When used in this document, the words “will,” “anticipate,” “believe,” “estimate,” “expects,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements.  

The forward-looking statements are founded on the basis of expectations and assumptions made by the Company. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. The Company cautions that current global uncertainty with respect to the spread of the COVID-19 virus and its effect on the broader global economy may have a significant negative effect on the Company. While the precise impact of the COVID-19 virus on the Company remain unknown, rapid spread of the COVID-19 virus may have a material adverse effect on global economic activity, and can result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets, which could affect interest rates, credit ratings, credit risk, inflation, business, financial conditions, results of operations and other factors relevant to the Company.

Except as required by applicable laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. 

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