Tilray Expands Global Leadership Team With New COO And CFO

CANADA: Tilray, a global pioneer in cannabis production, research, cultivation, and distribution, announces the expansion of its global senior leadership team with two strategic hires: Jon Levin as Chief Operating Officer, who was formerly with Revlon, and Michael Kruteck as Chief Financial Officer, who was formerly with Molson Coors and Pharmaca. Mr. Kruteck’s appointment will be effective immediately after filing the Annual Report on Form 10-K for the year ended December 31, 2019. Mark Castaneda, Tilray’s current CFO, will take on the role of Strategic Business Development and continue to advise the company and assist in Kruteck’s transition.
 
“We are thrilled to have these experienced leaders join our team as we continue to disrupt the global pharmaceutical, alcohol, CPG and functional food and beverage industries,” said Brendan Kennedy, Tilray CEO. “Jon and Michael come to Tilray with extensive expertise in their respective fields and we look forward to their contributions as we pioneer the future of cannabis and hemp around the world.  As CFO, Mark has led the company through its IPO and substantial growth in the past couple years and we thank him as he transitions to a new strategic role with the company.”
 
Levin, COO, joins Tilray from Revlon where he most recently was General Manager, U.S. Mass Markets, responsible for the consumer products sold through major retailers in the United States. With 25 years of experience, Levin has general management knowledge in diverse industries including beauty and health, CPG and sporting goods. Prior to Revlon, he was the Executive Vice President, Sales, for Ferrara Candy Company, and had senior sales leadership positions with Nautilus, Wrigley and Acosta. Levin has a B.S. in Economics from Portland State University and a degree in Executive Management from Cornell University.
 
Kruteck, CFO, served multiple senior financial roles at Molson Coors Beverage Company and most recently as CFO for Pharmaca Integrative Pharmacy. With over 30 years of experience, Kruteck possesses a broad finance background with specific experience in financial and operational transformations, supply chain, corporate finance, and financial planning and analysis. Michael received his MBA from the Garvin School of International Management (Thunderbird) and his B.A. from the University of Colorado at Boulder.
 
Tilray’s current CFO, Mark Castaneda, who joined the company in March 2018, will take on the role of Strategic Business Development focusing on strategic initiatives for Tilray while also supporting Kruteck through the transition.

Leafly Appoints Former Amazon Executive Tim Leslie New CEO

WASHINGTON: Leafly, the world’s leading technology platform that helps customers around the world find and discover the cannabis product that is right for them, today announced the hiring of Tim Leslie, a 20-year veteran of Amazon, to the role of Chief Executive Officer. As Leafly CEO, Tim will guide the company’s vision and strategy as it continues to expand around the globe.

leafly-logo-w851-oLeafly is the most trusted brand in cannabis; the authoritative source on cannabis, where everyone from consumers to potential consumers to dispensaries to growers go to discover the latest and best information about cannabis and cannabis products,” Tim said. “Leafly has been at the forefront of shaping the conversation on cannabis and demystifying this rapidly evolving product and industry.”

“Whether it’s on the Leafly app or Leafly.com, our vision is to empower customers around the world to find and discover the best cannabis products for them,” Tim said. “There is an ever-growing range of legal cannabis products, and as broader legalization gains global momentum, and new opportunities open up, Leafly will be there with its mainstream voice providing customers with the best cannabis information and content.”

Tim joins Leafly from Amazon where he most recently served as Vice President of Amazon Prime Video International. In that capacity, Tim launched Prime Video in more than 200 countries around the world, managing product, technology, marketing and operations for international expansion. Tim’s background in launching businesses around the world and his deep knowledge of customers and content will help Leafly in its on-going international growth and cannabis-related content strategy.

“In addition to helping customers around the world make informed choices about cannabis, Leafly’s rapidly growing marketplace also empowers cannabis businesses to find and retain loyal customers,” Tim said. “Today we are providing new and existing cannabis businesses with the broadest and deepest information in the industry; information that they can trust to provide a professional and personalized experience for customers in a regulated environment.”

Tim started at Amazon in 1999 as Vice President & Associate General Counsel responsible for Worldwide Retail. He helped Amazon launch businesses around the world and built and managed Amazon’s international legal team, which grew to 150 employees under his leadership. In 2013, Tim joined the Amazon Prime Video business as the Managing Director of LoveFilm, a UK and German video streaming and DVD rental business that Amazon had acquired. Tim was responsible for the management of LoveFilm, integrating it into Amazon, re-branding LoveFilm as Prime Video and launching Prime Video in the UK and Germany, which was completed in February 2014. Tim went on to lead the launch of Prime Video globally in 2016.

With more than 20 million monthly online sessions and 1.3 million crowd-sourced strain, product and dispensary reviews, Leafly connects patients and consumers with cannabis brands, products and retailers. Consumers can use Leafly’s easy-to-use website and mobile app to learn about the right products for their lifestyle and wellness needs, find those products safely and efficiently from licensed and regulated dispensaries or retail stores around the globe.

Tilray Announces Global Senior Leadership Appointments

Former Coca-Cola, Starbucks, Nestle and Diageo executives join pioneering cannabis company

CANADA: Tilray, a global pioneer in cannabis production, research, cultivation and distribution, announces the expansion of its global senior leadership team with four strategic hires: Greg Christopher as EVP of Operations, formerly with Nestle; Rita Seguin as EVP of Human Resources, formerly with Diageo; Dara Redler as General Counsel, formerly with The Coca-Cola Company; and Charlie Cain as VP of Retail, formerly with Starbucks Corporation.

Tilray_Logo“We are pleased to have these experienced leaders join our team as we continue to disrupt the global pharmaceutical, alcohol, CPG and functional food and beverage industries,” says Brendan Kennedy, Tilray CEO. “Greg, Rita, Dara and Charlie come to Tilray with robust expertise in their respective fields and we look forward to their contributions as we pioneer the future of cannabis around the world.”

Each of the recently hired senior leaders bring invaluable expertise to Tilray’s growing leadership team. Their roles will directly drive the development of Tilray’s robust operations, which have enabled Tilray to distribute its products in 12 countries, as well as accelerate the company’s aggressive global expansion strategy.

Greg Christopher, Executive Vice President, Operations, joins Tilray with over 30 years of global experience in operations and supply chain across the many product categories at Nestle SA most recently serving as Senior Vice President of Supply Chain Operations for Nestle in Canada. Greg will oversee the strategic development and expansion of the company’s global operations and cannabis value chain across Tilray and all its subsidiaries.

Rita Seguin, Executive Vice President, Human Resources, served as the Senior Vice President of Human Resources for Diageo North America and most recently as Vice President of Human Resources for Southern Glazers Wine & Spirits Distributors. Rita’s appointment represents Tilray’s commitment to the long-term growth and success of the people within the organization. She will oversee the synchronization of the company’s growing global team and recruitment of talent all over the world.

Dara Redler, General Counsel, most recently served as Vice President and Senior Counsel for Coca-Cola North America and held a number of leadership roles in the legal division during her tenure at The Coca-Cola Company. In her role as Tilray General Counsel, Dara will oversee the strategic global growth of Tilray and all its subsidiaries with the legal team and work cross-functionally with all teams within the organization.

Charlie Cain, Vice President, Retail, served as Vice President of Concept Development and Franchising for Starbucks Corporation before joining the cannabis industry as CEO of Dockside Cannabis, one of Washington state’s original and most respected cannabis retail chains. Charlie brings more than 15 years of retail strategy, innovation, and operations experience to the development and oversight of Tilray and High Park’s North American retail strategy.

AB InBev And Tilray Announce Research Partnership Focused On Non-Alcohol THC And CBD Beverages

New Partnership to Focus on Research that will Guide Responsible Innovation

CANADA: AB InBev, the world’s leading brewer, and Tilray, a global pioneer in cannabis production and distribution, announced a partnership to research non-alcohol beverages containing tetrahydrocannabinol (THC) and cannabidiol (CBD). The partnership is limited to Canada and decisions regarding the commercialization of the beverages will be made in the future.

AB InBev Brands

The research partnership combines AB InBev’s deep experience in beverages with Tilray’s expertise in cannabis products. AB InBev’s participation will be through its subsidiary Labatt Breweries of Canada, one of the country’s founding businesses and its leading brewery, and Tilray’s participation will be through its Canadian adult-use cannabis subsidiary High Park Company, which develops, sells, and distributes a portfolio of socially responsible cannabis brands and products in Canada.  Each company intends to invest up to $50 million USD, for a total of up to $100 million USD.

“Labatt is committed to staying ahead of emerging consumer trends. As consumers in Canada explore THC and CBD-infused products, our innovative drive is matched only by our commitment to the highest standards of product quality and responsible marketing. We intend to develop a deeper understanding of non-alcohol beverages containing THC and CBD that will guide future decisions about potential commercial opportunities,” said Kyle Norrington, President, Labatt Breweries of Canada. “We look forward to learning more about these beverages and this category in the months ahead.”

“We are delighted to be joining forces with a world-leading beverage company, AB InBev, to research how to create enjoyable cannabis beverage products. Tilray and AB InBev share a commitment to responsible product development and marketing, and we look forward to beginning our work on this important partnership as Tilray continues to pioneer the development of a professional, transparent, and well-regulated cannabis industry,” said Brendan Kennedy, CEO of Tilray.

High Park Farms Begins Cannabis Cultivation in Ontario

CANADA: High Park Farms has announced that cannabis cultivation has begun at its state-of-the-art greenhouse in Enniskillen, Ontario following the successful arrival of thousands of live cannabis plants from Nanaimo, British Columbia. The arrival of the plants marks a major milestone for High Park as the company rapidly scales its operations in anticipation of the historic legalization of cannabis for adult-use in Canada expected to occur later this year.

“British Columbia is known around the world for its rich cannabis culture and the quality of its cannabis genetics,” said Adine Fabiani-Carter, Chief Marketing Officer at High Park. “We’re proud to bring high-quality cannabis genetics from British Columbia to Ontario to be ready for adult-use legalization anticipated later this year.”

The plant transfer, which occurred over the course of 36 hours last week, took thousands of healthy cannabis plants on a journey of more than 4,100 kilometres from Vancouver Island, British Columbia to Lambton County, Ontario. A carefully choreographed process involving a team of drivers, pilots, growers, production managers and security personnel ensured the health and safety of the plants. The plants rode an early-morning ferry from Nanaimo to Horseshoe Bay, then departed from Vancouver International Airport on a chartered, cargo-configured, Boeing 757. Upon landing at Hamilton International Airport, the plants made the final leg of the trip to High Park Farms in Enniskillen via climate-controlled tractor-trailers.

High Park Farms, which is anticipated to represent an investment of up to $30 million, received its federal license from Health Canada to cultivate cannabis under the Access to Cannabis for Medical Purposes Regulations (ACMPR) on April 13, 2018. The facility features 13 acres of greenhouse on 100 acres of property. Its first harvest is anticipated in June. In accordance with the Cannabis Act introduced in Canadian parliament in April 2017, High Park Farms anticipates that its ACMPR cultivation license will provide the company the ability to supply the adult-use cannabis market in Canada once the legislation is adopted.

 

Tilray Launches High Park Company to Produce And Distribute Adult-Use Cannabis In Canada

CANADA: In anticipation of the historic legalization of adult-use cannabis in Canada,  Tilray has announced the creation of wholly-owned subsidiary High Park Company to produce and distribute a broad-based portfolio of cannabis brands and products. As a part of this announcement, the company announced it will be making an investment of up to $10 million in a new facility located in London, Ontario to process and distribute finished cannabis products for the adult-use market in Canada.

Broad-Based Brand Portfolio
Based in Toronto and led by a team with deep experience in cannabis and global consumer brands, High Park has secured the exclusive rights to produce and distribute a broad-based portfolio of adult-use cannabis brands and products in Canada, subject to applicable laws and regulations. These brands include:

  • Marley Natural, crafted with deep respect for wellness and the positive potential of the herb. Marley Natural products include whole flower, pre-rolls, vape oil cartridges and cannabis-infused edibles.*
  • Irisa, a women’s wellness brand. Irisa products include milled blends, pre-rolls and elixirs.*
  • Dutchy, for the more frequent consumer. Dutchy products include whole flower, pre-rolls and vape oil cartridges.*
  • Graila luxury brand. The Grail brand offers a unique variety of products, including rare strains with exotic cannabinoid and terpene profiles.
  • Headlight, for the experienced consumer. Headlight products include cannabis concentrates, waxes and vape oil cartridges.*
  • Goodship, makers of damn fine edibles. The Goodship brand is known for its delectable cannabis-infused baked goods, chocolates and confections.*
  • Wallopscreators of high-intensity chews and confections.*

In addition to acquiring the rights to bring the brands listed above to Canada, High Park has developed new brands and products for the Canadian market.

*Vape oil cartridges, tinctures, cannabis concentrates, waxes and cannabis edibles are not anticipated to be permitted under Canadian adult-use legislation initially, but the Government of Canada has indicated that edibles will be permitted no later than 12 months after the legislation comes into force. Other forms may be permitted at a later date.

Production Capacity Expansion
In response to rapidly growing global demand for cannabis products, we previously announced an investment of up to $30 million in a second facility featuring 13 acres of greenhouse located on 100 acres of property in Enniskillen, Ontario. The facility, now called High Park Farms™, is currently under construction and is expected to begin cultivating cannabis in the first half of 2018 subject to the receipt of necessary regulatory approvals.

 

Tilray Forms Strategic Alliance With Leading Pharmaceutical Company In Canada

CANADA: Tilray, a federally licensed producer of medical cannabis, announced today that it has signed a binding letter of intent (LOI) to be the exclusive collaborator of a major pharmaceutical company to accelerate innovation and increase availability of high quality medical cannabis products. Through this LOI and the anticipated definitive agreements, Tilray is allied with Sandoz Canada Inc. (Sandoz Canada), an affiliate of Sandoz International GmbH, a global leader in generic pharmaceuticals and biosimilars and part of the Novartis Group.

This strategic alliance represents another major milestone in the recognition of medical cannabis and cannabinoids as conventional medicine. Tilray is a global pioneer in medical cannabis research, production and distribution, and was the first medical cannabis company to obtain current Good Manufacturing Practice (cGMP) certification in accordance with the European Medicines Agency’s (EMA) standards. Tilray currently supplies tens of thousands of patients with high-quality, cGMP-certified products in ten countries spanning five continents.

This agreement builds on Tilray’s pioneering track-record as a company committed to making pharmaceutical-grade medical cannabis products available to patients in need. In addition to the agreement with Sandoz Canada, Tilray has formed strategic partnerships with NOWEDA, one of Germany’s largest pharmaceutical distributors, which distributes Tilray products to more than 20,000 pharmacies across Germany, and Shoppers Drug Mart, Canada’s largest pharmacy chain.

“This agreement is a major milestone on the long road to legitimizing medical cannabis as conventional medicine,” said Brendan Kennedy, Tilray Chief Executive Officer. “Tilray is pleased to be, what we believe is, the first federally licensed producer of medical cannabis to form a strategic alliance with a local affiliate of a global pharmaceutical company to improve the availability and quality of medical cannabis products for Canadian patients in need.”

Tilray Signs LOI with Société des Alcools du Québec (SAQ) To Supply Province With Cannabis

CANADA: Tilray, a global pioneer in cannabis cultivation, processing and distribution, has signed a Letter of Intent (LOI) with Société des alcools du Québec (SAQ) to supply the province of Quebec with high-quality cannabis products in anticipation of adult-use legalization later this year.

“This LOI is another major milestone for us as we aim to build the world’s most trusted cannabis company,” said Brendan Kennedy, Tilray Chief Executive Officer. “We are proud that SAQ has trusted us to supply the province with high quality products.”

Under the terms of the LOI, Tilray will supply the Quebec market with up to 5,000 kg of cannabis per year across a variety of brands. Tilray has licensed trusted brands from other legal cannabis markets and created new brands for Canadian consumers, which Tilray will bring to Quebec under the terms outlined in the LOI. Tilray-branded medical products will continue to be sold exclusively in pharmacies and online through the Access to Cannabis for Medical Purposes Regulations (ACMPR).

The LOI secures a safe, regulated supply of cannabis products for Quebec from Tilray, an internationally-recognized federally-licensed producer trusted for its commitment to quality, compliance and responsibility. Tilray was the first cannabis company to be Good Manufacturing Practice (GMP) certified in accordance with the European Union standards, which has enabled the company to secure supply agreements and authorizations to dispense its products in hospitals, pharmacies and clinical trials in eight countries spanning four continents.

The Goodship Joins Privateer Holdings

WASHINGTON:  The Goodship, Washington state’s popular and beloved cannabis edibles brand, announced today that it has joined the Privateer Holdings family of brands. Together, The Goodship and Privateer Holdings will develop new products and expand the brand’s availability to consumers in new markets across North America.

Stellar baking and confection-making are at the heart of The Goodship. (Photo: Business Wire)

Stellar baking and confection-making are at the heart of The Goodship. (Photo: Business Wire)

Founded in 2014 by Jody Hall, The Goodship makes “damn fine edibles,” from delectable cookies and brownies to delicious confections and sweets. The Goodship brand is a local favorite for its best-in-class products, innovative programming, and whimsical, community-driven spirit. Goodship has garnered national attention from the likes of VICE, Forbes, and Money Magazine, which crowned Hall “The Weed Queen of Washington.”

“I founded Goodship to celebrate the ways that cannabis can promote creativity and help bring people together,” said Hall, a Seattle entrepreneur who also founded the city’s award-winning Cupcake Royale bakery after helping to bring Starbucks to consumers nationwide as one of the company’s first marketing employees. “As a part of the Privateer Holdings family of brands, we now have the resources, capital and expertise to create new confections, test innovative flavors, host even more exciting events — and bring our products to adult consumers in new markets.”

Privateer Holdings is the world’s first and leading private equity firm to invest exclusively in legal cannabis. The firm has raised more than $150 million to invest in a portfolio of cannabis brands that currently employ more than 500 professionals working on the ground in 7 U.S. states and 7 countries.

“We are proud to welcome The Goodship to the Privateer Holdings family. Jody and her team have created something truly special: a purpose-driven brand with unrivaled products, unmistakable packaging, and a thriving entrepreneurial culture.” said Brendan Kennedy, CEO of Privateer Holdings. “At Privateer Holdings, we are focused on building a portfolio of global cannabis brands that are leaders in their respective categories. We were instantly drawn to The Goodship because their team is already setting and exceeding the standard for what a cannabis edibles brand should be. This is an exciting time to be in the cannabis industry, and we’re looking forward to working together to develop innovative products and bring Goodship to new legal markets across North America.”

In addition to The Goodship, Privateer Holding’s family of brands also includes:

  • Leafly – The world’s leading cannabis website and mobile application, with more than 13 million monthly visitors and the world’s largest database of user-generated reviews of cannabis strains, products and dispensaries.
  • Tilray – A global pioneer in medical cannabis research, production, and distribution, currently serving tens of thousands of patients, physicians, pharmacies, governments, hospitals, and researchers in eight countries spanning four continents.
  • Marley Natural – A premium cannabis lifestyle brand rooted in the life and legacy of Bob Marley. Marley Natural cannabis products are currently available in California, Washington, and Oregon, with body care and smoking accessories available nationally and internationally via www.MarleyNaturalShop.com.

7 in 10 Californians 21 & Older Ready to Use Cannabis Products Recreationally

CALIFORNIA: Enlucem, a strategic brand consultancy currently advising startups in the cannabis space, announced today the results of a detailed consumer study of Californians’ attitudes toward cannabis products.

Results of the 800-person survey found that the market potential for medical marijuana and other future cannabis products in California is staggering – between 15 million and 21 million adults over 21 years of age. While 39% of Californians already use cannabis, another 44% are non-users interested in trying it now that it’s recreationally legal. Last November, California’s legislature legalized cannabis in a state where nearly 1 in 8 Americans live.

“These new potential customers are different than current users. They represent a different demographic, they favor alternative formats to smoking, and look for different cannabis benefits,” notes Ana Hory, CEO of Enlucem.

Key findings of the research include:

  • 83% of California residents are willing to try or use Cannabis
    • 54% of them are female, 54% are 40 years of age or younger, 40% have kids living in the household, most have incomes over $90,000
  • Consumers’ top health issues that medical marijuana can alleviate include Pain (58%), Stress (54%) and Insomnia (49%)
  • Cannabis brand awareness remains very low (49% didn’t know any brands)
  • Most consumers are interested in edible (62%) and topical products (44%), though heavy users (use daily or almost every day) still prefer smoking (75%)
  • The large majority of survey respondents use or plan to use medical marijuana, while a smaller group will use cannabis recreationally
  • Five unique persona segments have been identified for brand targeting

Hory’s motivation for the study was driven by cannabis benefits such as improved health and mental well-being. It’s a view shared by Jordan Tishler, MD, a Harvard Medical School graduate and founder of inhaleMD, a Massachusetts doctors group focused on medical marijuana access.

“I find Cannabis to be very helpful to patients with chronic pain, insomnia, anxiety and depression, and anorexia. In many cases, Cannabis is more successful than conventional medications, with fewer side effects,” says Tishler.

The study’s results came as a welcome surprise to Tripp Keber, co-founder and CEO of Dixie Brands, a large manufacturer of cannabis products in Colorado, with presence in California via a licensee.

“We see California as a key market for us, but it is one that clearly needs more data and research on how best to serve its massive consumer base. Enlucem’s research is some of the first and only comprehensive data we have seen coming from California and we look forward to gaining more insight into the next frontier of adult use cannabis.”

Brendan Kennedy, CEO of Privateer Holdings, the world’s first private equity firm to invest exclusively in cannabis brands, added that, “This research is another example proving our thesis that cannabis is a mainstream product consumed by mainstream people. Individuals from all walks of life consume cannabis for all different reasons. The typical cannabis consumer is not who you might think. The research shows how critical it is for cannabis brands to evolve how they position themselves with different demographics.”

For more information about the study, contact Ana Hory at info@enlucem.com.