CEO BHARAT VASAN OUT AT PAX
The board of vaporizer player Pax Labs voted to fire CEO Bharat Vasan. Vasan joined the company in February 2018 from consumer tech company August Home and led Pax as it raised $420M at a post-money valuation of $1.7B
- Pax declined to say what led to Vasan’s firing. General counsel Lisa Sergi will serve as interim CEO.
- The company sells loose leaf and extract vaporizers as well as Pax Era, a vaporizer which pairs with branded cartridges.
- See the company’s statement on product safety.
Quick Hits
- Patrick Vo stepped down as CEO of seed-to-sale software company BiotrackTHC and from the board of parent company Helix TCS.
MJBiz - While stocks have slumped, Bloomberg makes the case for optimism about the cannabis industry.
- The American Association of Retired Persons has published several pieces recently on cannabis use by oldsters.