SOURCE: Aja Cannafacturing, Inc.

Aja Cannafacturing, Inc.

September 24, 2014 11:31 ET

Aja Cannafacturing Announces Kendall A. Smith Begins as BOD Member

Company Plans to Become Single Focused, Divest Subsidiaries With Plantinga to Lead Charge! Energy Storage and Propel Management Group

LAKE ELSINORE, CA--(Marketwired - Sep 24, 2014) - Aja Cannafacturing, Inc. (OTCQB: AJAC) announced today Mr. Kendall A. Smith is now a member of the Board of Directors and started his first day by participating in the Company's Board meeting yesterday. During that meeting, the Company announced the Board adopted a plan that set a clear path for the Company's future by designating a leader for each entity. Each leader will build their management team as quickly as possible and develop and execute a definitive plan that includes the raising of new capital.

The Company stated Mr. Smith, a recent addition to its Board of Directors, was selected to become the Chief Executive Officer and President tentatively effective October 1, 2014, with Mr. Plantinga continuing as its Chairman of the Board of Directors for only that period of time necessary to resolve any legacy issues outstanding. The Company will identify and review candidates to appoint to its Board of Directors to expand its base of support in its pursuit of new capital and other new resources. This change in leadership solidifies the Company's commitment to its new business model and changes how the Company will operate. Mr. Smith is very familiar in the hemp and cannabis space and has the vision for the company to grow and exploit its recently adopted business model.

Charge! Energy Storage, Inc. (CES), its wholly-owned subsidiary, will retain Scott Plantinga as its President, Chief Executive Officer and Chairman of the Board of Directors and seek new members to appoint to its Board of Directors. CES will be spun off in a deal that is currently being negotiated by its parent's Board of Directors. This news follows the announcement on September 15, 2014 that Aja Cannafacturing, Inc. had approved divestiture of Charge!, pending regulatory approval. A highlight of the divestiture plan is that shareholders, as of a date soon to be announced, are scheduled to receive a share in both AJAC and CES on a 1 for 1 pro-rata basis, thus providing greater value and opportunity for shareholders.

In follow up to the previous announcement that Charge! Energy Storage will attend ESNA Expo 2014, Plantinga stated, "We are excited to continue our discussion and development of our strategic partnership with the executive management of FGY Energy Storage Research Institute (FGY Energy Storage Research Institute Co., Ltd. a Jiang Su, China) next week at the ESNA (Energy Storage North America) Expo and Conference in San Jose, California, September 30 - October 2, 2014. For those not familiar with the event, the Energy Storage North America is the largest grid energy storage event in North America and features critical insights into market developments and technology integration, and will have over 1,000 leading customers in attendance along with technology providers and partners that can participate in over 40 conference sessions, hands-on workshops and site tours in Silicon Valley."

Mr. Plantinga added, "The Investor Deck for CES is complete and the 2-year detailed budget projections have been finalized so we are excited to continue our discussions with this strategic partner as well as other investor groups. Since we will also be attending the show together I look forward to making introductions and speaking with all my colleagues in the energy storage field, some of whom I haven't seen since last year's Energy Storage North American conference."

About Aja Cannafacturing, Inc.

Aja Cannafacturing, Inc. (OTCQB: AJAC) operations are focused on being the pioneering force in the cannabis and Industrial Hemp industry by the select breeding and cultivation of application-specific, proprietary cannabis seed. Through these methods, Aja Cannafacturing seeks to maximize the potential of every harvest. Becoming a leading supplier of raw cannabis material for industry specific applications such as building materials (Hempcrete), automotive (biofuels), plastics (healthcare) and textiles (fabrics), among others, positions Aja Cannafacturing at the forefront of a new domestic industrial revolution.

Charge! Energy Storage, Inc. is a wholly-owned subsidiary of AJAC. Charge! Energy Storage is a designer and developer of GIIRS-rated energy storage devices for residential, commercial, and light industrial markets and products that deliver clean stationary and portable electrical energy. Charge! has made a broad reaching commitment to create reliable and affordable hi-tech energy storage systems for all commercial and residential applications.

Propel Management Group Inc. (PMG) provides a full range of program management, acquisition, and lifecycle support services to its customers. PMG is at the forefront of integrating acquisition, logistics, engineering, and technology disciplines into a comprehensive lifecycle management approach. PMG continually strives to improve the process of developing, procuring, and sustaining its customers' systems to achieve their overarching goals of transformation, consolidation, and efficiency. Its Direct-to-Consumer business delivers comprehensive call center and online marketing solutions to brands seeking maximum reach and return on investment (ROI).

Forward-looking & Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company cautions that these forward-looking statements are further qualified by other factors. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

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