Greenstar Biosciences Corp (OTCMKTS:GTSIF) has announced the appointment of Mr. Brian Zastiko as a Chief Finance Officer. His appointment at Greenstar is effective from December 6, 2019, and replaces Alexander McAulay. The company signed a deal with Invictus Accounting Group LLP to provide strategic advisory services and CFO.
Brings expertise in financial reporting
Brian held the position of Senior Consultant at Invictus. He brings thirteen years of experience in public sector companies and privately held companies operating in the cannabis space, utility, production, agriculture industries. Brian has expertise in capital markets, corporate governance and financial reporting. He also served as Manager at Ernst & Young. During his stint at Ernst & Young, he obtained CA.
CEO of Greenstar, Rahim Rajwani, said the company is pleased with the appointment of Brian to its executive management team. He will play a vital role in the expansion efforts of Greenstar. The deal with Invictus and the appointment of Brian are the right steps taken by the company because it strengthens the management team for M&A.
Pursues debt settlement agreements
Greenstar has pursued the debt settlement lead by CFO with two creditors for $66,000. As part of the deal, the company will issue 507,692 common shares (at a share price of $0.13).
Secures DTC eligibility
Greenstar has secured the DTC eligibility from the Depository Trust Company (DTC) to facilitate electronic transfer and settlement of common shares in the US. Depository Trust & Clearing Corporation’s subsidiary – DTC is engaged in managing electronic clearing and settlement for the publicly traded companies. The electronic clearing and settlement expedite faster transactions and settlements between the investors and brokers. As a result of DTC eligibility, the customers of Greenstar will benefit from reduced transaction charges. It improves liquidity and offers additional exposure to institutional investors and the US.
Cowlitz produces high-quality cannabis
Greenstar said Cowlitz County Cannabis Cultivation Inc, its tenant partner, has completed four separate grow rooms. It completes the expansion of the first phase and allows Cowlitz to manufacture good quality cannabis. Cowlitz provided LED lights in the four grow rooms to achieve operational efficiency of cultivation and cost reduction in operating costs to improve margins.
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