NEW YORK, NY--(Marketwired - Jun 28, 2016) - DigiPath, Inc. (OTCQB: DIGP), an independent cannabis lab testing and media firm, is pleased to announce that Mr. Joseph J. Bianco's role with the Company has been expanded with his appointment to serve as its Chief Executive Officer. Mr. Bianco will also continue to serve as the Company's Chairman of the Board. Todd Denkin will continue to serve as the President of the Company, as well as its Chief Operating Officer, and will also continue to serve as the President of the Company's wholly-owned subsidiaries, DigiPath Labs Inc. and TNM News Corp. For more information please click this link http://digipath.com/sec-filings/.
"As we build DigiPath into a market leader in cannabis lab testing, we knew that it was time to take the next step to accelerate organic growth and pursue targeted, strategic opportunities," said Mr. Denkin. "Having known Joe for many years, and after working closely with him over the last several months in his capacity as Chairman of the Board, I am excited that he has agreed to further his commitment to our Company as its CEO. I will of course remain deeply involved with every aspect of DigiPath as President and Chief Operating Officer, and as President of DigiPath Labs. We're proud of what we've built in Nevada and now with Joe on board as CEO we will continue our efforts to expand the DigiPath brand as planned."
Mr. Bianco has been a highly successful entrepreneur for more than 40 years. After graduating from Yale Law School and teaching law for several years, Mr. Bianco founded British Performance Cars, Inc., the exclusive U.S. distributor of the Lotus Marque, which was eventually sold to General Motors. Subsequently, he formed Alliance Entertainment Corp., which was listed on the NYSE and was then the largest independent distributor of recorded music in the world. Alliance, which was eventually sold to a private equity fund, was the product of a "roll-up" of over a dozen smaller companies.
Mr. Bianco has been the Chief Executive Officer of Whyte Lyon & Company, Inc. since 1984. Mr. Bianco also currently serves as Chairman and CEO of Oak Tree Education, and is also a Director and the Chairman of SkinScience Labs, Inc. and Experiential Teaching Online, Inc. (XTOL), which develops college and graduate-level online courseware.
Mr. Bianco stated, "I have built a successful career in spotting opportunities for strategic growth and consolidation in markets that are highly fragmented. The lab-testing sector within the cannabis industry, and in the much larger pathology/toxicology industry, are examples of such highly fragmented markets. Todd has built a 'best in class' testing facility in Las Vegas and we now plan to duplicate his efforts around the country. I look forward to continue working with him and his remarkable team to pursue these opportunities and drive shareholder value."
About DigiPath, Inc.
DigiPath, Inc. is an independent cannabis testing and media firm that supports the cannabis industry's best practices for reliable testing and delivers cannabis news coverage and education about the cannabis industry. DigiPath's two business units are DigiPath Labs and TNM News Corp. DigiPath Labs™ is working to set the industry standard for testing all forms of cannabis-based products using FDA-compliant laboratory equipment and proprietary standard operating procedures (SOP) to ensure product safety and efficacy. TNM News Corp. has pioneered a cannabis-focused news network, The National Marijuana News, which delivers news, interviews, and education on all things cannabis. For more information please visit http://www.digipath.com.
This press release contains "forward-looking statements" that include information relating to future events, and future financial and operating performance. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the Company's need for additional funding, governmental regulation of the cannabis industry, the demand for the Company's products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in the Company's filings with the United States Securities and Exchange Commission. For a more detailed description of the risk factors and uncertainties affecting DigiPath, please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.