BoxScore Brands Board of Directors Announces the Addition of Consumer Products Veteran Michael P. Flanagan as CEO and Member of the Board of Directors as Well as a New Strategic Direction
LAS VEGAS, NV, April 22, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – BoxScore Brands, Inc. (BOXS), announced the addition of consumer goods industry veteran Michael P. Flanagan. The company also announced a new strategic direction focused on opportunities with CBD and other alternative wellness products.
Michael Flanagan, newly appointed CEO of BoxScore Brands, stated, “Cannabis and other alternative wellness products today resemble the tech industry 25 years ago. The opportunities are broad and consumer adoption is expanding. We currently operate in California and Nevada, two states at the forefront of adoption and demonstrable growth. This makes perfect sense for the company to pivot product offerings given the positive regulatory environment and our existing assets.”
Founded in 2007, BoxScore Brands served 300+ points of sale in California and Nevada through automated frozen vending machines and reach in freezers. In March 2019, the Company sold part of its ice cream operation to a strategic buyer, allowing the Company to reposition its product offerings and focus on consumer products with Cannabidiol ("CBD") and other alternative wellness products. CBD is a non-psychoactive cannabinoid with proven health and wellness benefits. The Company is developing a CDB edibles offerings in both the frozen and non-frozen category as well as a variety of other product categories, which will leverage the Company's current vending assets. Flanagan stated, “We are paying close attention to Chairman Gottlieb’s recent statements and remain optimistic about the growth of the category and its relevance to our core strategy in the US.”
In 2018, BoxScore Brands launched an ice cream under a national sports license into five major US markets including Boston, New York, Houston, Dallas, and California. The company plans to ship nationally as the regulatory environment evolves and utilize online sales for non-THC wellness products.
According to New Frontier Data and MJ Freeway, the top-three reasons why consumers use cannabis are for relaxation (66%), stress relief (59%) and to reduce anxiety (53%). Other reasons include improving sleep, treatment of medical conditions and to enjoy social experiences.
Raymond Meyers, Chairman of the Board and Founder stated, “2019 will be an exciting year for our company both strategically and through the addition of new personnel who have deep experience in the Cannabis category as well as new products and branding on a national level.”
ABOUT BOXSCORE™ BRANDS, INC.
BoxScore™ Brands, Inc, headquartered in Las Vegas, NV, is a consumer products and technology company that develops, distributes, and retails specialty foods across North America. For more information visit www.boxscore.com or call (855) 558-8363 or e-mail ir@boxscore.com .
Forward Looking Statements: This current press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any products sold or cash flow from operations. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Boxscore Brands, Inc. will develop, produce, distribute and invest in cannabis related and other therapeutic wellness consumer products.
Founded in 2007, Boxscore Brands Inc., served 300+ points of sale in California and Nevada through automated frozen vending machines and reach in freezers. In March 2019, the Company sold part of its ice cream operation to a strategic buyer, allowing the Company to reposition its produce offering and focus on consumer products with Cannabidiol (CBD) an other alternative wellness products. The Company will use its expertise in automated vending distribution as part of the overall distribution strategy for the wellness sector.
About Us
MISSION
BUSINESS
MANAGEMENT
Michael Flanagan – Chief Executive Officer
Mr. Flanagan has been a consumer products executive since 2009 as Chairman and CEO of The Searchers Group LTD, based in New York, NY. During this time, Mr. Flanagan financed, developed and managed high growth consumer brands in the fashion, cosmetics and jewelry industries. These collective efforts generated in excess of $20,000,000+ of new revenue across multiple brands, both in the United States and internationally. Prior to The Searchers Group, Mr. Flanagan was a Vice President with the Seaport group Investment Bank in New York. Mr. Flanagan holds a BA from Tulane University (1992) in New Orleans, LA and a Master’s in Business Administration (MBA) in
Finance (2002) from The Stern School of Business at New York University (NYU) in New York, NY
Raymond Meyers – Chairman of the Board and Founder
Raymond Meyers founded BoxScore Brands, Inc. (formerly U-Vend, Inc. and Internet Media Services, Inc.) in March 2007 and was the Chief Executive Officer and President since the Company’s inception until February 1, 2017. Mr. Meyers founded and operated several technology-based companies, with the most recent one being eBoz, Inc., an Internet marketing tools company, which he operated from November 2001 to April 2005 and sold to Web.com (Nas- daq GM: WWWW), formerly Website Pros, Inc., in April 2005. From April 2005 to December 2006 he was an employee of Web.com holding the position of General Manager, eBoz Division. He was previously (from December 1996 to December 1999) CEO and President of ProtoSource Corporation, a NASDAQ listed company. He is a graduate of Rutgers University with continuing education at UCLA. We believe that as a result of his service as our Founder, President and Chief Executive Officer since inception, which adds historical knowledge, operational expertise and continuity to our board of directors, and his extensive corporate management experience, including serving as the chief executive officer of a publicly-held company, he provides the board with a deep understanding of all aspects of our business, both strategically and operationally, and therefore should serve on our board.
Financial reporting – Wells Compliance www.wellscompliance.com
BOARD OF DIRECTORS
Raymond Meyers
Michael Flanagan
John Edward (Jay) Hentschel
Jay Hentschel was the Executive Vice President of Dean and Deluca, Inc. where he has worked from October 2016 to January 2018. From May 1991 until September 2016, Mr. Hentschel was a Partner with Accenture, a NYSE-listed, $32 billion global professional services company where he served as managing director of the Retail Industry practice advising large retailers. Currently Mr. Hentschel is not employed. Mr. Hentschel also volunteers on the Retail Advisory Committee for the New York City Investment Fund, has authored numerous articles, and holds an MBA with distinction from Columbia University’s Graduate School of Business (2004).
Patrick White
Patrick White has been CEO and President of VerifyMe, Inc. since August 2017. Patrick was Chief Executive Officer and a Board of Director of Document Security Systems, Inc. (“DSS”) from August 2002 to December 2012; serving as its Chairman of the Board of Directors from August 2002 until January 2008. Mr. White then served as a Business Consultant to Document Security Systems, Inc. from 2012 to 2015. DSS is an NYSE American listed company. Mr. White received his Bachelor’s of Science (Accounting) and Masters of Business Administration degrees from Rochester Institute of Technology. We believe Mr. White is qualified to serve on our board of directors based on his extensive corporate management experience, including serving as the chief executive officer of a publicly-held company (DSS), and his experience with the organizational challenges involved with becoming and operating as a publicly-held company.
Jared I. Levinthal
Jared I. Levinthal, Esq., is a Principal with Levinthal Wilkins, PLLC in Houston, TX. Mr. Levinthal is a 1997 graduate, with Honors, of the University of Texas School of Law. Mr. Levinthal is a 1994 graduate of Tulane University with a BA, and is a member of the Texas Bar.
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