SOURCE: CannLabs, Inc.

June 13, 2014 08:35 ET

CannLabs, Inc. Announces Newly Formed Board of Directors

DENVER, CO--(Marketwired - Jun 13, 2014) - CannLabs, Inc. (OTCQB: SDSPD), a multi-faceted, fully integrated service provider for key constituents in the cannabis industry, announced today that it has added Joe M. Allbaugh, Ken Johnsen, Mark C. Mirken, and Mark Rogers to its newly formed Board of Directors, in conjunction with the Company's recent transition to a public company.

"We welcome this highly experienced group of individuals to our Board, and are looking forward to utilizing their expertise as we scale our business," said CEO and Founder, Genifer Murray. "Joe Allbaugh's tenure as a CEO and his work in both the private and public sector will contribute a wealth of knowledge to the Board. Having served as a director for numerous public and private companies, Kenneth Johnsen will prove invaluable as we position our company in the public markets. Complementing our expansion and growth plans will be Mark Mirken's biotechnology and management. While Mark Rogers' expertise as an entrepreneur with a financial management and operations background rounds out an exceptional team that will help guide us going forward."

About Joe M. Allbaugh
Mr. Allbaugh is President and Chief Executive Officer of Allbaugh International Group, LLC. Mr. Allbaugh is widely recognized and admired, both in the government and private sectors, for his leadership, integrity and strategic management skills. In February 2001, Mr. Allbaugh was nominated by President George W. Bush to head the Federal Emergency Management Agency (FEMA) and a founding member of the president's Homeland Security Council. He managed the response, recovery and clean-up for the 9-11 attacks with a budget of $11 Billion and 10,000 employees. Today he provides emergency, disaster recovery and security services to the public and private sectors.

About Ken Johnsen
Mr. Johnsen is currently Chief Operating Officer of Blue Calypso and serves as Chairman of the Board for NACT Solutions LP and Phoenix Food, LLC. Mr. Johnsen founded Parago Inc. and served as a Director, President and Chief Executive Officer from June 1999 to 2006. Mr. Johnsen served as a Director, President and Chief Operating Officer of publicly traded Metamor Worldwide Inc. from 1996 to 1999. Mr. Johnsen's experience includes 22 years at IBM where he held numerous general management positions, including Vice President of Business Services for IBM Global Services and General Manager of IBM China/Hong Kong Operations. Mr. Johnsen holds 3 US Patents.

About Mark C. Mirken
Mr. Mirken is the former Chief Executive Officer of Millennium Biotechnologies/Inergetics where he served from 2005 to 2012. Mr. Mirken joined TurboChef Technologies, Inc. in 2000 to lead the global sales division that led the company to be a world leader in technology, equipment and services for high-speed food preparation. He served as President and Chief Operating Officer from 2002 to 2005 where he managed all product development, marketing, branding and manufacturing. Mr. Mirken has over 25 years of senior management experience that has allowed him to lead companies through startup, growth, capital restructuring, and branding initiatives.

About Mark Rogers
Mr. Rogers has more than 30 years of experience as an entrepreneur in financial management and operations, including work as a turnaround specialist, an active portfolio manager and an investor in growing companies. Mr. Rogers is currently President of Barastone, LLC a firm he co-founded that specializes in cash and liquidity solutions to homeowners. He is also President & CEO of Synthym, Inc., a risk based, risk controlled approach to absolute return investing. Mr. Rogers co-founded NFT Ventures with Ray Noorda, chairman of Novell, Inc. and for more than 12 years, managed the family office and portfolio of assets for NFT valued at over $1 billion.

About CannLabs
CannLabs, Inc., is a solutions provider with intellectual property, proprietary cloud-based analytics and scientific methods to serve the cannabis industry. Through Carbon Bond Holdings Inc., CannLabs provides laboratories with the necessary business intelligence technology and other solutions required to serve the cannabis industry, and these include the first state-licensed laboratory in Denver, Colorado.

CannLabs enables growers, dispensaries and edible makers to implement best practices while furthering product advancements. In addition, the CannLabs website allows consumers to easily locate certified tested products to meet their specific needs.

CannLabs has been at the forefront of educating the public, in addition to state and local governments as more states legalize marijuana for various uses. The Company provides client education around safe cultivation, identifying contamination problems, consulting on legal cases and the reformulation of cannabis products, throughout the U.S. and Canada.

The Company plans to license their solutions to new labs and other cannabis companies in states and provinces as legislation and testing mandates for legalization are approved. This will allow the Company to further scale its data analytics and consulting business across a broader geographic area. In addition, the CannLabs team will focus on research and development which will further drive value for their customers and provide incremental revenue opportunity.

Safe Harbor Statement
All statements herein other than statements of historical facts are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Such statements are not guarantees of future performance and are subject to known and unknown risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. Such factors include, but are not limited to, our ability to raise additional capital, our limited operating history and revenue, our ability to attract and retain qualified personnel, our ability to develop new services, market acceptance of our services, legislative, regulatory and competitive developments in our industry, general economic conditions, as well as other factors set forth in our filings with the SEC.

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