Veteran Investment Executive Michael Ruscetta joins Trichome Yield Corp.
TORONTO, May 7, 2018 /CNW/ - Trichome Yield Corp., a majority owned subsidiary of CannaRoyalty Corp. (CSE: CRZ)(OTCQX: CNNRF) ("CannaRoyalty") focused on providing credit-based capital solutions to the legal cannabis industry ("Trichome" or the "Company"), is pleased to announce that its Board of Directors has appointed Michael Ruscetta as the Company's Chief Executive Officer and to its Board of Directors, effective May 7, 2018.
As CEO, Mr. Ruscetta will oversee Trichome's investment strategy and capital allocation decisions as well as assume day-to-day leadership of the Company. With more than two decades of investment experience in public and private markets, he has invested in a broad range of industries and instruments including equities, bonds, mezzanine debt, bridge loans and first/second lien debt. Mr. Ruscetta brings a particularly deep background in originating, structuring and underwriting privately negotiated debt transactions, together with portfolio management, risk management and exceptional leadership skills.
Mr. Ruscetta joins Trichome after previously managing the RCM Special Situations Fund, a Canadian focused value-oriented equity fund. Previously, Mr. Ruscetta served as Co-Head of Goldman Sachs' Canada Special Situations Group, a multi-asset principal investing platform, and as Managing Director of Amaranth Advisors (Canada) ULC, a multi-strategy investment fund that was headquartered in Connecticut. Mr. Ruscetta also has held numerous roles at CIBC, including many years in its merchant banking division working exclusively on a wide array of customized principal investments.
"On behalf of the Board of Directors and Management, I would like to welcome Michael to the Trichome team," said Marc Lustig, CEO of Trichome Yield Corp.'s majority shareholder, CannaRoyalty Corp. "Michael's background lends itself incredibly well to Trichome's business model and the burgeoning capital requirements of the cannabis industry. His particularly strong background in private credit underwriting and special situations complement the cannabis-sector expertise we have developed internally and with our founding partners. We are confident that Michael's appointment will help us further position ourselves as a leading value-added lender in the cannabis sector."
"Trichome has identified a very compelling market opportunity and surrounded itself with a world-class team with a shared vision of success. I believe that the Company is uniquely positioned to become the leader in providing customized credit-based capital solutions to the cannabis sector." said Mr. Ruscetta. "I am excited to join the Trichome team and look forward to leading the Company through its next phases of growth."
Trichome is a majority-owned subsidiary of CannaRoyalty and was formed to offer credit-based capital solutions to companies operating across the Canadian cannabis value chain. Trichome expects to offer creative credit-based capital solutions to cannabis companies in need of capital for a broad array of requirements. Trichome is focused primarily on addressing the largely underserviced Canadian cannabis market and expects to expand to meet the needs of companies operating in fully legal international markets as those jurisdictions develop.
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.
SOURCE CannaRoyalty Corp.
For further information: For further inquiries, please contact: Marc Lustig, email@example.com, 1-844-556-5070, www.cannaroyalty.com; Jonathan Ross, CFA, LodeRock Advisors Inc., firstname.lastname@example.org, 416-283-0178; For Trichome lending inquiries, please contact: Kevin Jarrett, VP, Investments, CannaRoyalty Corp., KJarrett@cannaroyalty.com, 647-388-3256