Rocky Mountain High Brands Inc. (OTCMKTS:RMHB) has announced a restructuring of its leadership with the reorganization of Directors and Officers.
Rocky mountain announces leadership changes
In the changes instituted, the company has named David Seeberger as its CEO and President. Also, Michael Welch will remain as the Board Chairman and Chief Operating Officer of Rocky Mountain High Brands. Charles Smith has been re-elected to the company’s Board and will serve as the CEO and President of the company’s newly established subsidiary Rocky Mountain Productions Inc.
Michael Wells, the COO, and Chairman of the Board indicated that following Raw Pharma LLC’s acquisition and the transformation of the company into manufacturing, they saw it important to reorganize responsibilities. This will be the best way for the company to leverage new opportunities. The newly appointed CEO and President, Mr. Seeberger, played an important role in finalizing the Raw Pharma acquisition and has a history with the company.
Seeberger added that they were delighted to have Smith back to the company’s strong and dedicated management team as they sought to leverage hand sanitizer and beverage opportunities. He added that the acquisition of Raw Pharma will provide the company with a co-packing facility for the hand sanitizer businesses.
Rocky Mountain acquired Raw Pharma for hand sanitizer production
The company acquired Raw Pharma through Rocky Mountain Productions by making a $500,000 upfront payment is shares of RMHB common stock. It will also make monthly payments of $1.0 million in machine debt and other payments of around $1.75 million. The chairman said that the company is creating relationships with various partners to enhance the steady supply of hand sanitizer gel, bottles, and caps.
The Raw Pharma co-packing facility is located in Plano, Texas, and has a peak production capacity of around 12,000 beverage cans per hour. It has a high production line of around 9,000 bottles/hour with the second line of 4,000 bottles/hour expected to come online soon. Because of the recent high demand for sanitizers, the company converted the high-speed production line into a hand sanitizer filling line.