SEATTLE, Aug. 21, 2020 (GLOBE NEWSWIRE) — Wikileaf Technologies Inc. (CSE:WIKI) is pleased to provide a corporate update to the Company's shareholders and stakeholders and the results of the company's Annual General Meeting (“AGM”). At the AGM, shareholders elected Connor Cruise, Daniel Nelson, Manoj Hippola, David (Cy) Scott and Murray Hinz for the ensuing year.
The first eight months of 2020 have proven to be a difficult time for the world economy and a period of transition for Wikileaf. The Cannabis industry in particular has faced challenges from on-going regulatory hurdles which have required business owners to pivot their strategies overnight. Negative sentiment within the investment community has also been another challenging factor that has led to a decrease in funding during a critical time for operators within the cannabis space looking to maintain or expand operations. That said, the industry has witnessed a growing trend in sales of legal cannabis and cannabis related products across North American jurisdictions that allow cannabis for adult-use consumption.
The legalization of adult-use cannabis in Canada and certain U.S. states have been material events despite having been burdened by overwhelming regulatory barriers. In our view, the heavy advertising restrictions that cannabis brands face on traditional platforms is where opportunity lies. It is our mission to create a platform that will provide a forum, community and culture for these brands to proliferate and thrive online. We believe the Wikileaf platform provides a compelling opportunity for companies who want to be in tune with cannabis users and enthusiasts and their purchasing …
Full story available on Benzinga.com