Alternate Health, a CBD company based in Toronto, Canada has unveiled Mathew Whitaker, the former acting U.S. Attorney General, as the company’s external counsel. This announcement was made on Tuesday by officials at Alternate Health.
The agreement between Whitaker and Alternate Health also saw Graves Garett, Whitaker’s Missouri-based law firm, being retained by the CBD company.
Whitaker’s three-month stint as AG in Donald Trump’s administration was characterized by controversy and he left as abruptly as he entered office. Two of the key issues that sparked controversy about Whitaker were his alleged business ties with the President, and his comments which were deemed to be critical of the then ongoing investigation into whether Russia tinkered with the elections that brought President Trump into office.
As Alternate Health announced that it was bringing Whitaker on board, the company revealed that it was also divesting itself of all its marijuana assets. They were quick to add that this divesture decision had nothing to do with bringing the Republican Whitaker to the team.
Instead, Alternate Health revealed that their decision was motivated by the realization that the marijuana assets of the company hadn’t brought in any money and the outlook wasn’t promising given the legal status of marijuana at the federal level in the U.S.
Alternate Health was therefore pivoting and would focus on just CBD going forward. Scott Holtby, Alternate Health’s VP for communications, revealed that one of the assignments that have been given to Whitaker is to investigate certain specified actions of Alternate Health’s competitor who is based in California. Not surprisingly, the company was tightlipped regarding the identity of that competitor.
The new external counsel for Alternate Health will also be charged with developing a legal strategy for the company as it makes its way into new markets. Whitaker will also provide “strategic advice” to Alternate Health.
Mathew Whitaker will not receive any stock options as part of his compensation for joining Alternate Health. Instead, he will be paid through a retainer as is the norm when paying for legal services.
Alternate Health’s foray into the U.S. CBD market started with the company’s acquisition of Blaine Labs, a CBD company based in Southern California. This deal, announced in May, was worth $20 million.
That Canadian companies are picking such an interest in the U.S. CBD market is a testimony of what potential this newly legalized industry has. Analysts expect CBD industry players like The Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF) and Therma Bright Inc. (TSX.V: THRM) (OTC: THRBF) to keep tweaking their strategies in response to the stiff competition that is inevitable in the CBD space.
About CBDWire
CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.
To receive instant SMS alerts, text CBDWire to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.CBDWire.com
Please see full terms of use and disclaimers on the CBDWire website applicable to all content provided by CBDW, wherever published or re-published: https://CBDWire.com/Disclaimer
Do you have a questions or are you interested in working with CNW? Ask Our Editor
CBDWire (CBDW)
Denver, Colorado
www.CBDWire.com
303.498.7722 Office
Editor@CBDWire.com