Cannabis Movers & Shakers: WeeMD, Harvest Health, Bespoke Extracts

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

WeedMD Announces The Departure Of CCO Stephen Ng

Medical cannabis company WeedMD Inc. WMD WDDMF has parted ways with its Chief Commercial Officer, Stephen Ng.

The news came on the heels of the commencement of the shipment of its cultivar — Black Sugar Rose — to the Ontario Cannabis Store.

Angelo Tsebelis, the Toronto-based company's CEO, thanked Ng for his "many contributions during the build-up of Starseed Medicinal and its integration into WeedMD."

Meantime, WeedMD's latest earnings report revealed its revenue dropped by 26% year-over-year to $5.9 million in the second quarter.

Other recent accomplishments the company achieved include a deal with Fire & Flower Inc. FAF  FFLWF for the production, packaging, and shipment of its CBD product offering under the Revity brand name, and an agreement with Mary's Brands' owner MM Technology Holdings LLC for the manufacture of a suite of Mary's Medicinals' products.

Harvest Health's COO Ronald Goodson Retires

Vertically integrated cannabis company Harvest Health & Recreation Inc. HARV HRVSF confirmed Tuesday that Ronald Goodson opted to retire from the position of Chief Operating Officer.

The decision is effective Dec. 31, the company noted.

"We thank Ron for his service over the past year and wish him all the best in his retirement," disclosed Steve White, the company's CEO.

Meantime, the company elected six directors for the ensuing year - on its annual and special meeting of shareholders held in September - including Mark Neal Barnard, Steve White, Elroy Sailor, Eula Adams, Ana Dutra, and Scott Atkison.

Harvest Health recently divested its Arkansas-based store and cultivation assets, owned and operated by Natural State Wellness Dispensary LLC and Natural State Wellness Enterprises LLC, to an undisclosed buyer for $25 million.

MMA Fighter Jorge Masvidal Endorses Bespoke Extracts

Hemp and CBD producer Bespoke Extracts, Inc. BSPK named mixed martial arts star Jorge Masvidal the brand’s ambassador for its line of CBD formulations.

Masvidal — also known as  Gamebred — has been competing for over 17 years. He has over 2.6 million followers on Instagram, 1.95 million on Facebook, as well as a global fan base of more than 673,000 followers on Twitter.

“As an elite athlete who works hard to achieve and maintain optimal wellness and high performance in the ring, we are very proud that he has chosen Bespoke Extracts’ Sport CBD formulations as a key component of his nutritional regime and to become a vocal proponent of our products to his millions of followers,” Bespoke CEO Danil Pollack said.