Debra BorchardtJanuary 4, 2021
Canadian-based Eden Empire Inc. (CSE: EDEN) began trading common shares at the open of the Canadian Securities Exchange on Monday, January 4, 2021 using the ticker symbol “EDEN”. The company said it plans to expand its business to cannabis cultivation, extraction, and processing and become a fully integrated cannabis product company in various states throughout the US. Eden Empire said it will operate retail cannabis stores in Canada and the United States.
Gerry Trapasso, Director & CEO said, “We have strategically positioned Eden to access a niche market in the cannabis sector. We look forward to beginning the rollout of our retail stores in key locations across Canada and the US. In a highly competitive industry, Eden will use its experienced management team, unique street-style branding, and top-tier procurement, to stand out against our competitors.” His bio describes him as a cannabis company consultant.
The company reported in its filings that it lost $4.7 million in its year ending July 2020. The quarter ending in October 2020 delivered a net loss of $575,262. The company has lease commitments on three locations and is pursuing licenses.
The company said in June 2019 that it raised $4.9 million as part of its larger $7 million private placement.
Mr. Kolten Taekema was appointed as the President, Mr. Gerry Trapasso is the Chief Executive Officer. In addition, Mr. Cale Moodie was appointed as the Chief Financial Officer. The Board of Directors includes Mr. Kolten Taekema, Mr. Gerry Trapasso, Mr. Cale Moodie and Mr. Dario Meli. Meli is the founder and CEO of Quietly, a company that helps brands and publishers create great content. He is also a co-founder of HootSuite, a leading social media dashboard, Foodee, a food delivery service tailored for corporate culture, and Brightkit, a media marketing company.
