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TORONTO, Nov. 5, 2018 /CNW/ - Canaccord Genuity Growth Corp. ("CGGC") (NEO: CGGC.UN) is pleased to announce that Igor Gimelshtein, a principal of Zola Global Investors Ltd. ("Zola"), has been appointed a director of Columbia Care LLC ("Columbia Care") and has agreed to serve as the chair of its audit committee. Zola is an operationally focused family office deploying capital in the legal cannabis industry globally. Zola participated as the lead investor in the last two financing rounds at Columbia Care including the US$85 million private placement that closed on November 1, 2018. Previously, Mr. Gimelshtein was the Chief Financial Officer of MedReleaf Corp. prior to its acquisition by Aurora Cannabis Inc.
"At Columbia Care, we are setting the standard-of-care for medical cannabis through the quality of our team and our proprietary portfolio of medicines as well as through our excellence in execution. Igor's track record at MedReleaf speaks volumes in establishing a pioneering framework that served tens of thousands of medical patients and resulted in the largest cannabis exit to date, valued at C$3.2 Billion," said Nicholas Vita, co-founder and chief executive officer of Columbia Care. "His enthusiasm for the sector, focus on data and analysis and his understanding of the principles that led to success in this rapidly emerging sector are consistent with our own passion and the values we have built Columbia Care upon since its founding in 2012."
"From our comprehensive and unique industry perspective, we are not aware of any other cannabis company that we could be more enthusiastic to invest in and more importantly, dedicate our time and resources towards," said Mr. Gimelshtein. "Columbia Care has established itself as the premier cannabis provider in the U.S., with quality products and dispensaries all rooted in serving patients and ensuring safe adult-use. The strategic vision and operational excellence of Columbia Care are what attracted Zola to this rare opportunity, and what will underpin their continued growth."
About Columbia Care LLC
Columbia Care is the U.S.'s largest and most experienced manufacturer and provider of medical cannabis products and services. The Company is licensed in highly selective and regulated jurisdictions and has completed more than 750,000 successful patient interactions since its inception. Working in collaboration with some of the most renowned and innovative teaching hospitals and medical centers in the world, Columbia Care is a patient-centered healthcare company setting the standard for compassion, professionalism, quality, caring and innovation for a rapidly expanding new industry. For more information on Columbia Care, please visit www.col-care.com.
About Canaccord Genuity Growth Corp.
Canaccord Genuity Growth Corp. is a newly organized special purpose acquisition corporation incorporated under the laws of the Province of Ontario for the purpose of effecting a qualifying transaction on the NEO Exchange within a specified period of time.
About Zola Global Investors Ltd.
Zola is an operationally focused family office that deploys capital to help management teams build lasting and sustainable businesses, primarily in the legal cannabis industry globally. Zola invests across the sector, with a focus on intellectual property, including brands, technology, value-added products and defensible positions in the supply chain.
This press release may contain forward‐looking information within the meaning of applicable securities legislation, which reflects CGGC's current expectations regarding future events including the proposed Business Combination and Private Placement. Forward‐looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond CGGC's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking information. Such risks and uncertainties include, but are not limited to, failure to successfully negotiate the terms of the proposed transaction and enter into definitive documentation in respect thereof, failure to complete the Business Combination, inability to obtain requisite regulatory and shareholder approvals, changes in general economic, business and political conditions, changes in applicable laws, compliance with extensive government regulation, as well as the factors discussed under "Risk Factors" in the final prospectus of CGGC dated September 13, 2018, a copy of which is available on SEDAR at www.sedar.com. CGGC undertakes no obligation to update such forward‐looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
The NEO Exchange does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE Canaccord Genuity Growth Corp.
For further information: Canaccord Genuity Growth Corp., Michael Shuh, Chairman and Chief Executive Officer, (416) 869-7376