BLVD Centers Corporation ('BLVD' or the 'Company') announced that Nitin Kaushal has taken over as chairman of the Board of Directors and Michael Hynes has been appointed as a non-executive director. Nitin Kaushal is a resident of Toronto, Canada and has over 20 years of capital markets and investment banking experience. He has recently been involved with several cannabis transactions.

He is currently a Managing Director, Corporate Finance, PwC Canada. He also serves on several public company boards, namely, Viemed Healthcare Inc. and cannabis company's: Delta 9 Cannabis Inc, Valens Groworks Corp. and CannAmerica Brands Corp.

Michael Hynes is a resident of New York City. He has a broad experience in business and medicine, working at Exis Capital as well as Merck & Co. This move is made pursuant to a newly constituted strategic plan by the new Board of Directors.

As part of the new plan, the company has executed a detailed non-binding letter of intent (the ‘LOI') with a private arm's length acquisition-oriented marijuana industry focused company (‘Potential Seller'), where none of the Potential Seller's shareholders have ever held shares in BLVD. Under the terms of the LOI, the CEO of the Potential Seller would assume the position of CEO and Executive Director of BLVD with Chris Heath retiring as an officer of the company. Additionally, under the terms of the LOI, a large shareholder of the Potential Seller currently serving as its Managing Director of Acquisitions and Finance, with over 15 years experience as an investment banker with Barclays and Bear Stearns in New York City, would join the management team to lead acquisitions.