Here is a summary of the latest company shakeups within the cannabis industry.
Renee Merrifield Steps Down from Valens Board
The move comes on the heels of her election as a member of the Legislative Assembly of the Kelowna-Mission district of British Columbia.
Merrifield also serves as CEO and co-founder of Troika Management Corp., a land and real estate development company.
"On behalf of the Board of Directors and Executive leadership team, I would like to congratulate Ms. Merrifield on this exciting next step in her career and wish her the best for the future," Valens CEO Tyler Robson said.
The company's latest earnings report revealed $18.1 million in net revenue for the third quarter — up by 10% year-over-year. In addition, product sales accounted for 83% of net revenue at $15.1 million.
In April, the Kelowna-based company started trading on the Toronto Stock Exchange.
Cannabis Growth Opportunity Corporation Names New CEO
Cannabis Growth Opportunity Corporation has named Paul Crath its new CEO and Director, replacing Paul Andersen.
The company also appointed Ashish Kapoor as a Director and Graham Simmonds to chair the board.
According to a Thursday’s update, Sean Conacher would serve as a new Chief Strategy Officer.
Michael Johnston remained at the CFO position, Corporate Secretary and Director, while Bruce Campbell would continue to manage the company’s portfolio through his firm StoneCastle Investment Management Inc.
The Toronto-based cannabis-focused investment company also disclosed it intends to purchase the CGOC Management Corp.
The new shake-ups in the company’s leadership team came on the heels of the company’s announcement, it has …