Lowell Farms Appoints Bryan Dunmire to Chief Product Officer

Cannabis industry vet previously served as Senior Vice President of Strategy

SALINAS, Calif., March 10, 2021 (GLOBE NEWSWIRE) -- Lowell Farms Inc. (CSE:LOWL; OTCQX:LOWLF), a vertically-integrated cannabis company with advanced production capabilities, including cultivation, extraction, manufacturing, brand sales and marketing, and distribution, has named Bryan Dunmire to the position of Chief Product Officer, a role in which he will oversee the health and growth of the Lowell Farms brand portfolio with a focus on innovation, impact, and the overall goal of maintaining the company’s position as California’s cannabis industry leader.

Mr. Dunmire joined the organization in April 2020, when it operated under the name Indus Holdings, Inc. As Senior Vice President of Strategy, Mr. Dunmire oversaw multiple growth initiatives, including the 2021 acquisition of Lowell Farms by Indus, and the subsequent name change and rebranding of the company. He has extensive experience within the cannabis industry, having served as Chief Development Officer for cannabis-focused restructuring and growth fund Geronimo Capital; and as Director of M&A and Corporate Strategy for multi-state cannabis operator Acreage Holdings.

While at Acreage, Mr. Dunmire oversaw more than $250 million in acquisitions and secured more than $315 million during the company’s 2018 reverse takeover of Applied Inventions Management Corporation; while managing its transition to a publicly traded organization and 2018 debut on the Canadian Securities Exchange.

“Bryan combines both the business acumen and institutional knowledge needed to grow this organization with the personal passion and understanding of the role cannabis plays at the consumer level,” says Lowell Farms Inc. Chief Executive Officer Mark Ainsworth. “In just one year, he has become an indispensable asset for Lowell Farms, and we continue to place tremendous value in Bryan’s judgment and leadership.”

Mr. Dunmire has previously served as Head of Partnerships for B2B eCommerce at ZX Ventures, the global growth and innovation arm of Anhueser-Busch InBev. He has also held leadership and strategy roles with American Express, and he is the co-founder of information technology services firm Red Line Labs.

“Having successfully completed our acquisition and transition to Lowell Farms, I look forward to working with our team and taking this company to new heights,” says Mr. Dunmire. “Cannabis is still an emerging industry, and Lowell Farms will maintain its position as the industry standard thanks to our best-in-class operations, innovative approach to product development and marketing, and decades of experience at all levels of the organization.”

Mr. Dunmire has already begun serving in his new role as Chief Product Officer, reporting directly to Mr. Ainsworth.

Lowell Farms Inc. (CSE:LOWL; OTCQX:LOWLF) is California-based vertically-integrated cannabis company with advanced production capabilities supporting every step of the supply chain; including cultivation, extraction, manufacturing, brand sales, marketing, and distribution. Founded in 2014 as Indus Holdings, Inc, Lowell Farms grows artisan craft cannabis with a deep love and respect for the plant, and prides itself on using sustainable materials – from seed to sale – to produce an extensive portfolio of award-winning original and licensed brands, including Lowell Herb Co, Cypress Cannabis, MOON, Humble Flower, and Kaizen Medicinals, for licensed retailers statewide.

Investor Relations Contact
Bill Mitoulas

Media Contact
Renata Follmann

Company Contact
Mark Ainsworth

Forward-Looking Information and Statements
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved.” The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the anticipated benefits of the described acquisition, the ability of the Company to operate the acquired assets as currently contemplated and expanding and scaling its operations, the ability of the Company to successfully achieve its business objectives, including as a result of the described acquisition, and expectations for other economic, business, and/or competitive factors. There can be no assurance that such forward-looking information and statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information and statements. This forward-looking information and statements reflect the Company’s current beliefs and are based on information currently available to the Company and on assumptions the Company believes are reasonable.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive applicable regulatory approvals to effect the acquisition of the remaining target assets and associated matters; operating and development costs; competition; changes in legislation or regulations affecting the Company; the timing and availability of external financing on acceptable terms; the available funds of the Company and the anticipated use of such funds; unforeseen liabilities in connection with the described acquisition; favorable production levels and outputs; the stability of pricing of cannabis products; the level of demand for cannabis product; the availability of third-party service providers and other inputs for the Company’s operations; lack of qualified, skilled labor or loss of key individuals; and risks and delays resulting from the COVID-19 pandemic. A description of additional assumptions used to develop such forward-looking information and a description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company’s disclosure documents, such as the Company’s annual information form filed on the SEDAR website at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. However, the Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

Neither the Canadian Securities Exchange nor its Regulation Service Provider has reviewed, or accepts responsibility for the adequacy or accuracy of, the content of this news release.

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Source: Lowell Farms Inc.