TMCnet News

[December 28, 2020]


TEL AVIV, Dec. 28, 2020 (GLOBE NEWSWIRE) -- Seedo Corp. (OTC: SEDO) (“Seedo” or the “Company”) announced today that Mr. David Grossman resigned his position as CEO and Director of the Corporation. At the same time the Board appointed current Director David Freidenberg as CEO. Mr. Grossman’s departure was not the result of any disagreements with management. 

David Freidenberg, 43, has been a Director of the Corporation since June 2020, and on October 25, 2020 he was appointed the CEO of the Saffron Tech Ltd (“Saffron Tech”), the Corporation’s wholly owned subsidiary in Israel. Mr. Freidenberg has spent the last few months advancing Saffron Tech’s activities in Israel. He also has extensive experience in the telecommunications and information technology (IT) industries including Vice President of Sales & Business Development at Trigyn Technologies, an IT services provider with $130 million in annual revenue. Past posts include CEO and Director of POMM Inc.; CEO and Director of Chip Pc; COO of Nidam Communication as well as a Director and manager for Hot cable TV, and Bezeq (Israeli National telephone company).  David received both his BA in Economics (2003) and MBA in finance and accounting (2007) from Hebrew University.

“On behalf of the board and shareholders of Seedo, I’d like to thank Mr. Grossman for the his efforts during his tenure as the Corporation’s CEO and dirctor and to wish him the best of luck in his future endeavors,” said Dr. Gil Feiler, Chairman of the Board, and continued, “We would like to wish Mr. Freidenberg good luck in his new role. Mr. Freidenberg has already been actively involved in managing the Company’s Israeli operations for the past few months and we therefore expect a smooth transition into his new role.”

About Seedo

Seedo Corp. (OTC: SEDO), an agritech company, is focusing on its research, development and commercialization of agriculture technology products in the fields of exotic plants and mushrooms.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to our ability to successfully execute a smooth transition of CFO functions as well as our ability to retain and recruit qualified executives; uncertainties related to, and failure to achieve, the potential benefits and success of our senior management team and organizational structure; our ability to successfully compete in the marketplace; our substantial indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments; compliance, regulatory and litigation matters; other financial and economic risks; and other factors discussed in our Quarterly Reports on Form 10-Q and in our Annual Report on Form 10-K, including in the sections captioned "Risk Factors” and “Forward Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.

David Freidenberg, CEO
(800) 608-6432

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