Director Of MA Marijuana Regulator Resigns, MD Plans To Evaluate Pot's Health Effects And Recent Industry Moves

As the Benzinga Cannabis Capital Conference returns to Chicago (Sept 27-28), gathering top CEOs, investors and leaders in the marijuana industry, let's scroll through some executive moves in the space.

Exit Of Director Of Marijuana Reg Agency Sends Group Into A Tailspin, Raising Concerns

The head of Massachusetts cannabis regulator Shawn Collins will step down by the year-end, reported Marijuana Business Daily.

Collins, who served as Massachusetts Cannabis Control Commission's executive director since 2017, didn't officially confirm his decision to depart the agency. However, Chair Shannon O'Brien said on Friday that Collins took a family leave last week.

"We are in crisis right now as a commission," O'Brien said. "We need to ensure that we know how to manage through this regulatory process."

Maryland Governor Enlists Experts To Assess Cannabis's Health Impact As Weed Sales Surge

Maryland Gov. Wes Moore tapped three experts to serve on the Cannabis Public Health Advisory Council under the Maryland Department of Health.

The appointees include three University of Maryland, Baltimore faculty members, including:

• Mathew Swinburne, JD, who serves as associate director at Network for Public Health Eastern Region, University of Maryland Francis King Carey School of Law:
• Leah Sera, PharmD, MA, BCPS, an associate professor and co-director at Graduate Studies in Medical Cannabis, University of Maryland School of Pharmacy; and
• David A. Gorelick, MD, Ph.D., a professor of psychiatry at Maryland Psychiatric Research Center, University of Maryland School of Medicine.

The General Assembly created the Advisory Council under House Bill 837 last year. The appointees will examine and analyze the implications of cannabis legalization on public health. Their primary focus will be coming up with suggestions and proposals to be presented to the governor and the General Assembly.

Meanwhile, Marylanders have spent $87.43 million on weed during the state's first full month of recreational sales. The week following the cannabis sales launch on July 1, licensed shops sold $20.9 million worth of weed products.

Board Updates

The shareholders of three cannabis operators have recently held their respective meetings, electing nominees for the boards of directors.

Planet 13 Holdings Inc.'s PLTH PLNHF shareholders elected Robert Groesbeck, Larry Scheffler, Lee Fraser and Adrienne O'Neal to serve as board members.

SNDL Inc.'s SNDL shareholders fixed the number of directors to the board at six, electing each of Greg Mills, Zach George, Greg Turnbull, Bryan D. Pinney, Lori Ell and Frank Krasovec as directors of the company.

Agra Ventures Ltd.'s AGRA AGFAF shareholders set the number of directors at four, electing Nick Kuzyk, Fiona Fitzmaurice, Anthony Carnevale and Jonathan Hirsh as directors.

Other Industry Appointments

Columbia Care

The two cannabis giants Cresco Labs Inc. CL CRLBF 6CQ and Columbia Care Inc CCHWF, recently terminated their agreement to merge.

Columbia Care separately announced two senior leadership changes. The New York-based company named David Hart as president and chief operating officer and Jesse Channon as chief commercial officer.

Hart will continue to oversee all revenue-driving functions, while Channon, formerly chief growth officer, will oversee retail, wholesale, technology innovation, marketing, and communications.

22nd Century Group

22nd Century Group, Inc. XXII recently tapped John Miller, who leads the tobacco business unit, to serve as interim chief executive officer.

James A. Mish, who has served as CEO since June 2020, will continue to serve as a board of directors member.

New Leaf Ventures

Last week, New Leaf Ventures Inc. NLV NLVVF named Dean Medwid as CEO and director following the resignation of Michael Stier.

Medwid formerly held the position of president and chief operating officer of the Vancouver-based company.

Additionally, Christopher Cooper and Daryn Gordon have also opted to resign as members of New Leaf's board of directors. New Leaf has appointed Ryan Arthur to the board of directors and as corporate secretary.

Viridian Capital Advisors

On Tuesday, Viridian Capital Advisors tapped Andrew Lock as head of the firm's corporate advisory/restructuring practice.

Lock is an experienced operator with over three decades of progressive leadership experience in executive management positions in public and private companies.

He also served as chief credit officer of two publicly held banks, where he also chaired or served on numerous internal committees. Lock was also an M&A consultant to Curaleaf.

The Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.

Photo: Courtesy of geralt, lindsayfox Pixabay