MPX International's Thailand Venture Announces Board and Advisory Appointments
TORONTO, ONTARIO, and BANGKOK THAILAND – TheNewswire - June 3, 2021 – MPX International Corporation (CSE:MPXI) (CNSX:MPXI.CN) (OTC:MPXOF) (“MPX International”, “MPXI” or the “Corporation”), a multinational diversified cannabis company, and its subsidiary, Salus International Management Ltd. (“Salus International Management” or “SIM”), a management company currently focussed on operations in Southeast Asia, and Salus Bioceutical (Thailand) Co. Ltd. (“Salus Thailand”), a Thailand-based medical cannabis company, are pleased to announce the following appointments to their respective Boards of Directors and Advisory Panels.
Board of Directors of Salus International Management
Joining the Board of Salus International Management, we welcome:
Tanadee Pantumkomon, Chief Operating Officer and Director
Tanadee Pantumkomon is a counsel in the corporate and commercial department of one of Thailand’s largest legal firms, where he focuses on commercial transactions, joint ventures and M&A, and on a broader range of commercial services for clients in various industries. He has a deep understanding of Thailand’s environmental laws, tax planning, distributorship and labour matters, including labour disputes. Tanadee is a trusted advisor to clients in negotiating and executing industry-specific transactions – especially in relation to contracts and joint venture transactions. Tanadee is a member of the Thai Bar Association, a member of the Harvard Law School Association of Thailand, and a special lecturer on petroleum law, investment law, project finance and development (joint venture and project agreements) at the Chulalongkorn University, Faculty of Law.
Mr. Pantumkomon received an LL.M., Harvard University (Sterman Scholarship) and an LL.M., New at York University School of Law (International Tax Program – Vanderbilt Scholarship) as well as his LL.B., from Chulalongkorn University (First Class Honors and Gold Medal – Rank 1st)
Mr. Piya Jittalan
Piya Jittalan is involved as a major investor in many joint ventures with foreign companies operating in Thailand. Among the various interests are real estate development, advertising, transportation, and insurance. He is the largest local shareholder and Chairman of Marsh PB Co. Ltd. which is the insurance brokerage arm of US-based Marsh McLennan.
Mr. Maris Samaram
Mr. Maris Samaram has a BSBA degree from the University of the East and has attended the Program for Management Development at the Harvard Business School. He has 40 years experience as a public accountant with an international accounting firm with active involvement in Asian operations until his retirement in 2001. Since then, he has served as an independent director in several public companies including Siam Commercial Bank PCL, Indorama Ventures Ltd., Tata Steel Thailand PCL, CIMB Thailand PCL. He presently serves on the board of PAC (Siam) Ltd. and Marsh PB Co. Ltd.
Mr. Phumchai Kambhato
Mr. Phumchai Kambhato is Advisor to Borderless Healthcare Group, a global business transformation leader in health, wellness, aged care, food, hospitality and real estate industries, managing more than US$250 million worth of intellectual assets and innovations within its eco-system. He has more than 26 years of experience in the investment banking industry with leading global investment banks including UBS and JP Morgan.
Mr. Robert Petch
Mr. Petch is currently a Director of MPXI and a former Director of MPX Bioceutical Corporation and iAnthus Capital Holdings, Inc. Based in London, he brings 30+ years management, strategic planning, financial analysis experience to SIM. Robert is a chartered accountant and earned an Honours Degree in Engineering Science from Oxford University.
Advisory Board of Salus Thailand
Joining the Board and Advisory Team of Salus Thailand, we welcome:
General Supakorn SA-Nguanchartsornkrai, Chairman and Advisor
General Supakorn is the former (2014-2017) Chairman of the Board of the Government Pharmaceutical Organization of Thailand (“GPO”), the government body charged with overseeing the certification and procurement of pharmaceuticals for public hospitals in Thailand. The GPO has also assumed responsibility for the development and approval of cannabinoid-based medicines for the Thai medical cannabis market. General Supakorn is a former member of the Thai National Legislative Assembly. He holds a Master of Science Degree from City University, London.
Dr. Kosit Sreeputhorn, Advisor
Dr. Sreeputhorn is an Associate Professor and Vice-President of Rajamangala University of Technology Isan, Nakhon Campus. He is the former Dean of Faculty of Natural Resources (2011 - 2017) of the University. He has a Ph.D. in Biology from Kon Kaen University in Thailand. Dr. Sreeputhorn is one of the leading scholars and top pioneers of cannabis in Thailand. He has developed cannabis cultivation, knowhow and technology in North-East Thailand for over three (3) years and becomes one of the most important persons in cannabis development in Thailand.
Mr. Leryos Bhuddachinorossakul, Advisor
Mr. Bhuddachinorossakul is the District Chief Officer at the Sarapee District of Chiangmai Province. He has a Master’s Degree in Public Administration from Nida University and is active in the administration of Sarapee District and our partnership with the Sarapee Community Enterprise. He is awarded with honor and golden pin for outstanding personal registration of department of provincial administration of Thailand.
Also on the Boards of both Salus Thailand and Salus International Management are W. Scott Boyes, Chairman, President and CEO of MPXI and Jeremy Budd, MPXI’s, Director, Executive Vice President, General Counsel and Corporate Secretary.
“From the onset of planning for its Thailand project, MPXI understood very clearly that, in addition to the expertise, logistical and financial support and technologies that it could bring to the venture, it would be naïve to believe that it could be successful without a strong local management and advisory group to assist interactions with the Thai regulators, contractors, suppliers and customers. We are extremely pleased that we have assembled such a prestigious team to provide ongoing direction and support for the project,” comments W. Scott Boyes, MPXI’s Chairman, President and CEO. “We look forward to working closely with each of them as we execute our ambitious Thai and Southeast Asian business plan.”
Cannabis in Thailand
Cannabis has been used extensively in Thailand as part of “Traditional Thai Medicine” for hundreds of years and, with the support of the Thai government, its use is being expanded into the public hospital system. Cannabis and cannabis derivatives must be prescribed by a medical practitioner and delivered through a hospital or medical clinic. There is concern that such products must be grown and processed in accordance with Thai GMP standards and that adequate supply be available to support the rapidly increasing demand for cannabis oils, topicals etc. With its population of almost 70 million and its history of using cannabinoid-based medicines, Thailand could quickly become one of the world’s largest medical cannabis markets, perhaps second only to the United States.
MPXI’s entrance into the Southeast Asian market further diversifies its opportunity to participate in global cannabis markets, complementing its European projects in Switzerland and Malta, its cultivation in South Africa, its distribution plans in Australia and its current and growing operations in Canada.
Medical cannabis containing formulations of CBD and THC are in very high demand in Thailand and are currently priced much higher than in the North American markets. Likewise high quality, commercial grade CBD distillate and isolate are currently sold for several multiples of U.S. prices (as high as US$8,000 per liter). Imports are severely restricted and Salus Thailand already has indications of interest from several Thailand-based cosmetic, food and beverage manufacturers exceeding 7,000 liters of CBD distillate/isolate and is in negotiation with the GPO and several hospital groups for the offtake of GMP-grade medical cannabis distillate and, potentially (subject to Thai FDA and GPO approval), sublingual tablets and capsules, suppositories, transdermal patches and medical quality edibles.
SIM is a private Ontario corporation and a partially-owned subsidiary of MPX International Corporation along with a group of private shareholders. SIM was incorporated to provide design, planning, financing, training, and on-going operational support to cannabis initiatives, partnerships, and joint ventures in Southeast Asia. Its revenue is generated primarily from fees charged for the supply of management services.
Salus Thailand is a Thai company involved in the cultivation, processing and distribution of high-quality medical cannabis products to the medical community in Thailand, operating for the benefit of the health and well-being of the Thai people.
MPX International Corporation is a multinational diversified cannabis company focused on developing and operating assets across the international cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient. With current operations spanning five continents in Canada, Switzerland, South Africa, Malta, Australia and Thailand as well as evolving partnership and distribution opportunities in other jurisdictions, MPXI continues to position itself as an emergent global participant in the cannabis industry.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, MPX International’s objectives and intentions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; the Corporation’s ability to effectively deal with the restrictions, limitations and health issues presented by the COVID-19 pandemic; future cannabis pricing; cannabis cultivation yields; costs of inputs; its ability to market products successfully to its anticipated clients; reliance on key personnel and contracted relationships with third parties; the regulatory environment in Australia, Canada, Malta, South Africa, Switzerland and other international jurisdictions; the ability to complete any future potential transactions and the terms and conditions thereof; the application of federal, state, provincial, county and municipal laws; and the impact of increasing competition; those additional risks set out in MPX International’s public documents filed on SEDAR at www.sedar.com, including its audited annual consolidated financial statements for the financial years ended September 30, 2020 and 2019, and the corresponding management’s discussion and analysis; and other matters discussed in this news release. Although MPX International believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, MPX International disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information about MPXI, please contact:
MPX International Corporation
W. Scott Boyes, Chairman, President and CEO
or visit one our websites:
Salus Bioceutical (Thailand) Co. Ltd.
Wittawin Vidthayanon, Director
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