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GREENBUTTS APPPOINTS FORMER BIG TOBACCO EXECUTIVE AS CHIEF STRATEGY OFFICER

·6 min read

SAN DIEGO, Calif., June 22, 2022 /CNW/ - Greenbutts, LLC (the "Company" or "Greenbutts") is pleased to announce the appointment of Luis Sanches as the Company's Chief Strategy Officer effective immediately.

Greenbutts’ Chief Strategy Officer, Luis Sanches (CNW Group/GreenButts)
Greenbutts’ Chief Strategy Officer, Luis Sanches (CNW Group/GreenButts)

Luis is a Senior Corporate Executive with more than 30 years of international, cross functional and cross-cultural experience responsible for managing business teams, supporting growth, and leading transformations across multiple geographies such as Australasia, North and South America, and Europe.

He was previously the Senior Vice President of R&D for Reynolds American Inc., an American tobacco company and subsidiary of British American Tobacco (NYSE: BTI); the second-largest tobacco company in the United States that generated north of $35 billion revenue for 2021. His corporate tenure under British American Tobacco spanned 31 years in total, including the position of Group Head of Product Development in the United Kingdom and Vice President of Kentucky BioProcessing KBP - a world leader in developing and employing cGMP processes to manufacture recombinant proteins using novel plant-based technology. He successfully led the development of novelty scientific knowledge and multi-category consumer lead product innovations.

"Never before in history have industry and humanity at large shared such a commitment to understand and urgently address matters that negatively impact the sustainability of our planet and, ultimately, our lives. Greenbutts is pioneering solutions that will allow business partners to focus on their growth strategy and deliver their product innovation pipeline while materially advancing their ESG agendas," said Mr. Sanches. "I am proud to join the Greenbutts team and am committed with them "to give every fiber of our being" to offering meaningful sustainable solutions to our partners." Sanches continued.

"We are delighted to have an executive of Mr. Sanches' calibre and industry presence, knowledge, and experience join our already accomplished team," said Tadas Lisauskas, Founder and CEO of Greenbutts.

"For the past 11 years, Greenbutts™️ has been focused on developing a viable alternative to cellulose acetate filters for the global cigarette industry, through extensive R&D and cross-continental partners. While we have had much success in achieving this goal; patenting our technology, continuously adding intellectual property to our portfolio, and validating business cases on a global stage, the addition of Luis Sanches to the team is an opportunity to re-introduce ourselves to the global cigarette industry and assist in their efforts to make the inevitable transition to a zero-plastic alternative as seamless as possible," added Tadas.

Luis will oversee the company's global expansion strategy regarding material and filter production in every region which Greenbutts serves customers. In addition, Mr. Sanches will work on optimizing our filter manufacturing process to meet the regulatory needs and specifications of each of our customers.

Mr. Sanches' expertise of the industry along with his long-standing relationships he has built during his three decades in big tobacco will assist Greenbutts in developing these markets and supporting ESG commitments of global tobacco partners.

About Greenbutts™️

Since 2010, Greenbutts has worked with R&D institutions, international tobacco companies, and industry experts to develop biodegradable filter technology – trademarked as a "Greenbutt". The Company has developed and patented a "zero-plastic" filter, made without any synthetic materials or plasticizers, 100% biodegradable and water dispersing which meets certain industry criteria. The proprietary Greenbutts filter is designed to reduce the significant environmental impact caused by plastic cigarette filter pollution. Over 6 trillion are discarded every year making single-use filters the most littered plastic item in the world. With over a decade of R&D and strong intellectual property, Greenbutts offers the $1 Trillion global tobacco industry a seamless transition to zero-plastic filters while meeting the new global single-use plastic (SUP) legislation initiatives.

FORWARD-LOOKING INFORMATION

This release includes forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively, "forward-looking information"). Statements containing the words "believe", "expect", "intend", "should", "seek", "anticipate", "will", "positioned", "project", "risk", "plan", "may", "could", "estimate", or, in each case, their negative and words of similar meaning, are intended to identify forward-looking information. Forward-looking information in this release, which includes but is not limited to, trends in the disposable cigarette butts industry and market, including any potential future growth thereof, Greenbutts' plans for research and development and any potential commercialization of products, any potential results from clinical studies that may be undertaken by Greenbutts, any statements as to the efficacy of products that Greenbutts may develop, any future submission by Greenbutts of regulatory approval applications, any future receipt by Greenbutts of regulatory approval for any products that it may develop, any future receipt by Greenbutts of patents that have been applied for or may be applied for in respect of its technologies, the success of Greenbutts' existing and future business strategies and objectives and implementation, including any resulting benefits to Greenbutts' operations or financial and non-financial performance as a result of such strategies and objectives and implementation, completion of financing, and the use of proceeds of a financing, is subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information. Such risks and uncertainties included but are not limited to, risks related to completion of a financing; dilutive effect of an offering and future offerings; competition from other competitor companies; violations of laws and regulations could result in repercussions; regulatory or political change; requirement of commercial scale and quality manufactured product supply; negative operating cash flow and going concern; limited operating history; requirement for additional capital to continue to develop business and realize on objectives; lack of product revenue; unfavourable publicity or consumer perception; reliance on the capabilities and experience of key executives and management; risk of product liability claims; COVID-19; litigation; conflicts of interest; ability to protect intellectual property; changes in patent law; requirement to share intellectual property to service providers; general economic, market and business conditions; and other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended.

These risks, uncertainties and assumptions could adversely affect the outcome of the plans and events described herein. In addition, even if the outcome of the plans and events described herein are consistent with the forward-looking information contained in this release, those results or developments may not be indicative of results or developments in subsequent periods. Forward-looking information contained in this release is based on the beliefs and expectations of Greenbutts' management, which Greenbutts believes are reasonable as of the current date, and are subject to significant business, social, economic, political, regulatory, competitive and other risks, uncertainties, contingencies and other factors. Many assumptions are based on factors and events that are not within the control of Greenbutts and actual future results may differ materially from current expectations. Except as required by applicable law, Greenbutts assumes no obligation to update or revise any forward-looking information in this release to reflect new events or circumstances.

www.greenbutts.com

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SOURCE GreenButts

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View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2022/22/c5563.html

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