Directors bring significant collective experience and track record of investing in, acquiring and growing cannabis and financial services companies
OTTAWA, Feb. 1, 2018 /CNW/ - CannaRoyalty Corp. (CSE: CRZ) (OTCQX: CNNRF) ("CannaRoyalty" or the "Company"), today announced the appointment of proven financial, M&A and cannabis-industry professionals Afzal Hasan, Dr. Jonathan Page, Marissa Lauder, and Timothy Diamond (collectively, the "Appointees") to the Board of Directors of Trichome Yield Corp. ("Trichome"), effective immediately. Following the appointments, the board will consist of four members, three of whom are independent of CannaRoyalty. The Company expects to add one additional director in the coming weeks.
The Appointees bring a complementary collective skill set and a successful track record to Trichome. As Executive Vice President of Corporate development for CannaRoyalty, Afzal Hasan brings a deep understanding of the funding needs of emerging cannabis companies, access to a significant deal pipeline and proven execution experience. Dr. Jonathan Page is the founder and CEO of Anandia Laboratories Inc., a leading Canadian cannabis biotechnology and testing company, and is uniquely qualified to advise the Trichome management team on businesses and transactions in this space. Marissa Lauder will be taking on the role of chair of the board's audit committee. Ms. Lauder is currently the CFO of Street Capital Group Inc. and its subsidiary Street Capital Bank of Canada, a well-established Canadian mortgage lender and Schedule I bank. Timothy Diamond is a proven business-builder with specific expertise in the financial services sector. Mr. Diamond has founded and subsequently sold two successful mutual fund companies and has led the financing for and served on the board of directors of numerous growth-oriented companies.
"I am honored to welcome Afzal, Jonathan, Marissa, and Tim to the Trichome board of directors," said Marc Lustig, CEO of CannaRoyalty. "Together, the Appointees bring a mix of financing, cannabis, legal and board experience to perfectly complement Trichome's aspiration to become the premier lender in the Canadian Cannabis industry. The lending pipeline is already growing rapidly and Trichome is well positioned to offer non-dilutive financing solutions and a variety of value-added services to the legal cannabis industry. We expect Trichome to become a preferred lending partner for established cannabis companies and to drive significant value for CannaRoyalty shareholders."
About the New Board Members
Afzal Hasan is currently EVP Corporate Development for CannaRoyalty. He combines a knowledge of public and private transactions gained as a lawyer at Cassels Brock & Blackwell LLP with a science background and an extensive knowledge of the cannabis industry. Over his career he has helped raise over $500 million through prospectus and private placement financing. He has been involved with seven public listing transactions and over $5 billion of M&A transactions.
Dr. Jonathan Page
Dr. Jonathan Page, PhD is the co-founder of Anandia Labs and an Adjunct Professor in the Botany Department at UBC. Dr. Page has an intimate knowledge of the financial underpinnings of running a cannabis testing lab and an extensive network of Canadian cannabis cultivators and professionals in the medical cannabis industry. He received his PhD from the University of British Columbia and directed a lab at the National Research Council's Plant Biotechnology Institute. Dr. Page also is a member of the Board of Directors of the Canadian Consortium for the Investigation of Cannabinoids (CCIC), the premier cannabis resource for health-care professionals in Canada.
Marissa Lauder is the Chief Financial Officer and Corporate Secretary of Street Capital Group Inc. and Street Capital Bank of Canada. She is a seasoned financial executive with more than 18 years of experience in the financial services sector in Canada. Ms. Lauder earned her CPA, CA designation while working in Ernst and Young's Toronto Financial Services office. She holds a Bachelor of Commerce degree from the University of Toronto.
Tim Diamond is CEO of Whitehall Apartments Corp. He has over 20 years of experience in senior roles in the financial industry focusing on raising capital, lending and asset management. He is the co-founder of two mutual fund companies and has over 10 years of experience serving on the boards of lending and financial institutions.
CannaRoyalty is an active investor and operator in the legal cannabis industry. Our focus is building and supporting a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt, licensing agreements and its own branded portfolio. CannaRoyalty's shares trade on the Canadian Stock Exchange (CSE) under the symbol CRZ and internationally on the OTCQX under the symbol CNNRF.
Trichome is a majority-owned subsidiary of CannaRoyalty and was formed to offer secured lending solutions to companies operating across the Canadian cannabis value chain. Trichome expects to offer a suite of simple asset-backed lending solutions to cannabis companies looking to fund: capital expenditures including the build out or expansion of existing facilities; the purchase of equipment and inventory; working capital to support growth; and other capital requirements. Trichome is focused primarily on addressing the largely underserviced Canadian market and expects to expand to meet the needs of companies operating in fully legal international markets as those jurisdictions develop.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in CannaRoyalty's periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward- looking statements.
Forward-looking statements may include, without limitation, statements regarding the Company's expectations with respect to pursuing new opportunities and future growth for Trichome and other statements of fact.
Although CannaRoyalty has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: competition from banks and other lenders; movements and long term trends in interest rates; the ability of management to select companies that will increase in value and to compete for desirable transactions; the ability to source desirable transactions; dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history; changes in laws; limited operating history; reliance on management; requirements for additional financing; and regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. CannaRoyalty disclaims any intention or obligation to update or revise such information, except as required by applicable law, and CannaRoyalty does not assume any liability for disclosure relating to any other company mentioned herein.
SOURCE CannaRoyalty Corp.
For further information: For investor inquiries, please contact: Jonathan Ross, Investor Relations, LodeRock Advisors Inc., [email protected], 416-283-0178; Marc Lustig, CEO, CannaRoyalty Corp., [email protected], 1-844-556-5070, www.cannaroyalty.com; For Trichome lending inquiries, please contact: Kevin Jarrett, VP, Investments, CannaRoyalty Corp., [email protected], 647-388-3256