Zoetic announced certain operational and organisational changes pursuant to a realignment in the strategic focus of the Company. Given the new strategic focus, Nick Tulloch and Paul Mendell, respectively Chief Executive Officer and Chairman of the Company, have resigned and that Trevor Taylor and Antonio Russo, respectively Chief Strategy Officer and Chief Revenue Officer of the Company, have been appointed as Directors and Co-CEOs. Nick Tulloch will continue to partner with Zoetic by leading a new joint venture in the UK.

Prior to being appointed Co-CEO Mr. Taylor was the Company's Chief Strategy Officer and, prior to joining Zoetic, he was the CEO of District 8 Holdings. Prior to being appointed Co-CEO Mr. Russo was the Company's Chief Revenue Officer and has been involved in the cannabis and hemp industry since 2010.