Cannabis Movers & Shakers: Canopy Growth, Hexo, Decibel, USCC, Pelorus Equity Group Psycheceutical

Canopy Growth Parts Ways With Its CFO & CPO

Canopy Growth Corporation CGC announced Friday that Mike Lee, executive vice president and chief financial officer, as well as Rade Kovacevic, president and chief product officer, will be stepping down from their respective roles and leaving the company on December 31, 2021.

And while the Canadian cannabis giant has kicked off an external search for both roles, both Lee and Kovacevic will serve in an advisory capacity to support the transition in the interim.

The company has named Judy Hong as interim CFO and Tara Rozalowsky as interim CPO to ensure a seamless transition.

"These decisions reflect Management and the Board's vision for building a best-in-class organization that is well-positioned to deliver long-term growth and shareholder value," David Klein, CEO of Canopy Growth stated. "We appreciate Mike and Rade's contributions to advancing Canopy Growth to our position as a cannabis industry leader."

Sebastien St-Louis Departures From HEXO's Board As CEO Scott Cooper Assumes His Role

HEXO Corp HEXO HEXO revealed Friday Sebastien St-Louis' resignation from the company's board of directors.

The move comes on the heels of St-Louis' recent departure as co-founder and CEO of the Ottawa-based company, following the finalization of its strategic reorganization.

Now, the company revealed that its president and recently appointed CEO, Scott Cooper, will also replace St-Louis as a director.

"I would like to take this opportunity to thank Sebastien for over eight years of service on HEXO's Board of Directors," Dr. Michael Munzar, chair of the board, commented. "Through his years of dedication, he has helped build HEXO into a market leader in Canada."

Decibel Cannabis Announces Board Changes

Cannabis producer Decibel Cannabis Company Inc. DB DBCCF announced Thursday that Dr. Ivan Casselman was re-appointed to its board of directors.

Dr. Casselman brings product and industry knowledge via his industry experience as an analytical chemist and plant medicine researcher and his current roles as the chief psychedelic officer at Havn.

"Appointing Dr. Casselman to Decibel's board of directors is a great step in the evolution of the Corporation's governance and board composition," Cody Church, the chairman of Decibel's board of directors said. "Dr. Casselman brings an extensive amount of experience and knowledge within the sector and adds a level of product and industry knowledge that will naturally compliment Decibel's current board of directors."

US Cannabis Council Appoints Flower One CEO And President Kellen O'Keefe To Board Of Directors

Cannabis cultivator and producer Flower One Holdings Inc. FONE FLOOF (FSE: F11) announced Wednesday that its president and CEO, Kellen O'Keefe, has been appointed to the US Cannabis Council's board of directors.

As a nonprofit organization whose mission is to build a future of legal access to cannabis delivered through an equitable and values-driven industry, USCC is advancing cannabis legalization at the federal and state level and promoting restorative justice for communities harmed by cannabis prohibition.

"We are thrilled to welcome Kellen O'Keefe to our board of directors," Steven Hawkins, CEO of US Cannabis Council said. "Flower One is joining with other cannabis industry leaders on our board of directors and will be well-positioned to advocate for meaningful reform. We look forward to working closely with Kellen O'Keefe to bring an end to cannabis prohibition."

Pelorus Equity Group Hires Commercial Real Estate Lending Veteran Lee Scholtz as Director - Head of Asset Management

Pelorus Equity Group, a cannabis-focused provider of value-added bridge commercial real estate loans, announced Thursday that it has tapped Lee Scholtz as the director - head of Asset Management of the Pelorus Fund, a privately held mortgage real estate investment trust for cannabis-related properties. 

Scholtz, who has over 15 years of commercial real estate and asset management experience, will be responsible for managing the Pelorus Fund's assets according to the company's investment goals and objectives.

Most recently, he served as the vice president of asset management at Harbor Group International.

"We look forward to leveraging Lee's proven track record working at some of the top commercial real estate lending companies in the world," said Dan Leimel, CEO of Pelorus Equity Group and manager of the Pelorus Fund. "We are fully confident he will be an invaluable asset to our Company at a time when we are not only experiencing record growth but are also bringing the cannabis sector the most innovative lending solutions available on the market."

Psycheceutical Welcomes Translational Research Expert Zachary Clayton To Its Advisory Board

Psycheceutical, Inc., a biotechnology company dedicated to the development and commercialization of psychedelic medicines, announced Thursday the addition of Zachary Clayton, Ph.D., to its scientific advisory board.

Clayton is a seasoned researcher with expertise in designing fully translational preclinical studies, which allow maximum efficiency while creating reliable, applicable results intended to directly benefit human health.

"Translational research is vital in Psycheceutical's mission to quickly and safely bring therapies based on psychedelic compounds to market," Chad Harman, CEO of Psycheceutical, said. Dr. Clayton brings a wealth of experience to our scientific advisory board that will allow us to further streamline the research needed to safely get these therapies to the patients who need them.

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