Former president of Mexico, Vicente Fox, has become a director at Helix TCS (OTCQB: HLIX) as it bids to boost its international footprint.
Fox was Mexico’s 55th president and he held office from 2000 to 2006 after serving as governor of Guanajuato. He brings significant political clout to Helix, although it is worth noting that he is embroiled in a long-running feud with current president Andres Manuel Lopez Obrador.
Fox frequently clashed with Obrador, who was then mayor of Mexico City, during the second half of his presidency. They sit at opposite ends of the political spectrum and Fox tried unsuccessfully to have him removed from office.
There is still plenty of animosity between them and last week Fox said the new president “should be sent to jail”. He may not get on with the president, but Fox is sure to have political connections that can help Helix thrive in Mexico and the wider Latin American market.
He is already established in the cannabis industry as he also sits on the board of Khiron Life Sciences, which continues to expand across South America. His new role at Helix is designed to help the firm boost sales in major export hubs where cannabis producers can benefit from the services it offers.
Helix is not a rival to Khiron, as it provides ancillary services for the cannabis industry. It provides supply chain management, working with 2,000 customers in 33 U.S. states and five other countries, and it claims to have processed more than $18 billion in marijuana sales.
“A new industry is being born, with high ethical standards, attracting massive investment in medical and health products, bringing economic growth and jobs to communities and nations, and I am proud to be part of it,” said Fox.
He is following in the footsteps of former Israeli prime minister Ehud Barak, who is the high-profile chairman of cannabis producer InterCure (TLV: INCR).
Israel is a pioneer in the medicinal marijuana industry and it has just started exporting after a change in legislation. Australian cannabis producer AusCann (ASX: AC8) has just hired Ido Kanyon, a senior executive at leading Israeli producer Teva Pharmaceutical Industries, to become its new chief executive. It coincides with AusCann’s move from pure cultivator to pharmaceutical manufacturer.