Cannabics Pharmaceuticals Inc. announced that on January 29th, 2018, Itamar Borochov stepped down as director and CEO of the Company. His resignation was not the result of any dispute with the Corporation. On the same date, the shareholders of the Corporation elected Ehud Rieger to the position of Director and Board Member.

Additionally, the shareholders elected current Director and COO Eyal Barad to the position of CEO. Eyal Barad 52, is a co-founder of Cannabics Inc., founded in 2012, and is a core member of Cannabics Inc.'s management team and brings 20 years of executive managerial experience in successful technology and startup ventures. Ehud Rieger, 56, brings 30 years of executive corporate experience, is Manager of Alrig Investments & Finance Ltd. since 1991, and is a Board Member of several private and public companies.

He held the rank of Major in the Israeli Defense Forces.