(MENAFN - Baystreet.ca) More exciting news on the cannabis front: Los Angeles-based NUGL Inc. (OTC:NUGL) has put the building blocks in place for what it hopes is towering futures growth.
A news release out Monday reported that company co-founder C.J. Melone will soon be taking over as CEO. Melone will replace Brandon Vargas who will be leading the User Experience division as the Chief Experience Officer.
California native Melone comes to the job with solid credentials, having worked in both public and private markets. He specializes in operations and marketing in the entertainment industry. Melone is known as a turn-around and start-up specialist with a resume of successful companies in his portfolio.
"I am beyond thrilled to take the reins at NUGL. From the moment we conceived this Company I've been blessed to have a team of professionals dedicated to this Company and the cause," said Melone.
Investors warmed to the news, sending the price of NUGL up 3.2 cents, or 4.4%, early Monday afternoon, to 76.2 cents, on volume of 355,000 shares.