Cannabis Movers & Shakers: Elev8, Viola, Flower One

Here is a summary of the latest company shakeups within the cannabis industry.

Elev8's CEO Adedeji To Serve On NCIA Board

The Oregon-based adult-medical cannabis company Elev8 Cannabis confirmed that its founder and CEO Seun Adedeji has been appointed to the National Cannabis Industry Association Board of Directors.

The decision is effective Jan. 27, according to the company's update.

Adedeji, 27, is one of the youngest multistate dispensary owners.

"My appointment to NCIA's Board is important on multiple levels, and I could not be prouder to join a dedicated board that shares the similar objectives as I do regarding the growth of the cannabis industry," he said. 

Adedeji's appointment comes on the heels of tapping Naomi Granger to run Elev8's finance department last month.

Rapper T.I. Endorses Al Harrington's Viola

Viola, the cannabis company, founded by National Basketball Association veteran Al Harrington, named rapper Clifford Joseph Harris Jr., also known as T.I., as the company's social justice and reform ambassador.

"As we continue to increase our social imprint within the cannabis industry, I am honored to welcome my brother T.I. into the Viola family," Harrington said Monday.

T.I. is known for community advocacy and his support of Black and other minority communities in need. In his new role at Viola, he will direct its community impact strategy.

The Los Angeles company has been backing up businesses within the cannabis industry lately. It introduced a new initiative designed to secure sales, marketing and fundraising resources to select companies in October.

Meanwhile, the famous singer-songwriter, producer, record executive and author became an investor and equity partner in Georgia-based cannabis company Harvest Connect LLC earlier this month.

Flower One Appoints Nitin Kaushal To Board

Cannabis company Flower One Holdings Inc. FONE FLOOF (FSE: F11) reported Tuesday it has tapped Nitin Kaushal for its board of directors. 

Kaushal, who replaces Molly Hemmeter, spent years serving as a Managing Director for PwC’s corporate finance practice. 

In addition, during his career, he sharpened his skill while working in investment banking, venture capital and consulting firms such as Desjardins Securities, Orion Securities, Vengate Capital Partners and SBC Securities. 

“It’s an honor to be appointed to the Flower One Board of Directors, and I look forward to working with the entire team to continue to strengthen the Company’s position in Nevada,” Kaushal said.

Earlier this year, the Toronto-based company secured $39 million in debt financing. The deal with Subversive Real Estate Acquisition REIT LP includes a two-year option to pursue a sale-leaseback transaction to buy the Las Vegas-based Flower One facility spanning 455,000 square feet.