CannaRoyalty Appoints President to Lead Operations and Global Growth Initiatives
Proven CannaRoyalty senior executive Afzal Hasan to assume the role effective immediately
Ottawa, Canada – May 7, 2018 – CannaRoyalty Corp. (CSE: CRZ) (OTCQX: CNNRF) (“CannaRoyalty” or the “Company”), a leading North American cannabis products and brands company, is pleased to announce that current EVP, Corporate Development and General Counsel, Afzal Hasan, has been appointed President of the Company, effective immediately. As President, Afzal will have responsibility for the Company’s day-to-day operations with a near-term focus on integrating recent California acquisitions and maximizing the potential of the Company’s leading distribution footprint and strong brand position in the state. In addition, he will be responsible for driving growth through distribution and licensing agreements in Canada and exploring opportunities globally. As EVP, Corporate Development and General Counsel for the Company, Afzal has led all transactions since joining and has been instrumental in growing the Company into a leader in California. Prior to joining CannaRoyalty, Afzal was a securities lawyer at Cassels Brock & Blackwell LLP, where he provided advice to both public and private companies on transactions.
“Afzal has been a driving force behind CannaRoyalty’s strategy and execution since he joined the Company in January 2017,” said Marc Lustig, CEO of CannaRoyalty. “The industry is starting to realize that the long-term value in this space will be in leading consumer brands and distribution. CannaRoyalty is a first-mover, and our current standing as one of the largest cannabis players in the largest cannabis market in the world1, is largely due to his vision. Afzal has proven himself time and again to be adept at recognizing value and, more importantly at successfully completing transactions and integrating acquisitions quickly and efficiently.”
Afzal added, “I grow more confident every day that we are executing the right strategy at the right time. We have assembled an experienced team and put the pieces in place to grow a dominant cannabis brand commercialization and distribution platform in California. This is just the beginning for CannaRoyalty. Over the next 12 months we will reinforce this platform and seek to replicate it in other legal jurisdictions such as Canada, to become a truly global cannabis brand powerhouse.”
Additional appointments made by the Company recently, include:
- Richard Sellers as VP of Operations. Richard co-founded Alta Supply, the first California cannabis distribution company. He co-founded Bhang chocolate, one of the most widely distributed cannabis brands in the world.
- Marco Rullo as Director of Brand Strategy. Marco is the former executive director of Kaya with extensive knowledge of the cannabis industry and over 10 years of executive experience in brand strategy and product development including successfully launching over 100 CPG products.
- Sadie Reyes, as President of Alta Supply. Sadie helped grow a BMW sales franchise to a $200M revenue level. She applied her marketing and business development expertise to co-found Alta Supply.
- Thomas J. Finch as Director of Corporate Development. Previously, Thomas was the lead financial analyst at CannaRoyalty. In that role he was instrumental in the execution of the River Distribution, Alta Supply Inc., and Kaya Management Inc. transactions. Prior to joining CannaRoyalty, Thomas was an investment banker at a Canadian independent dealer and a corporate banking analyst and debt capital markets associate with one of Canada’s large banks.
1) According to New Frontier Data, California has the world’s largest cannabis market with annual sales in 2016 of $2.8 billion.
About CannaRoyalty Corp.
CannaRoyalty is an active operator and investor in the global cannabis industry, with a strong focus on California, the world’s largest cannabis market. Our core mission is to become the leading global consumer product goods company for discerning cannabis consumers. We are currently focused on building a diversified portfolio of manufacturing, distribution, intellectual property, and infrastructure assets to achieve this goal. Our leadership team combines a passion and hands-on understanding of the cannabis industry, with seasoned financial and legal expertise. CannaRoyalty’s shares trade on the Canadian Stock Exchange (CSE) under the symbol CRZ and internationally on the OTCQX under the symbol CNNRF.
For further inquiries, please contact:
Marc Lustig, CEO
Jonathan Ross, CFA
LodeRock Advisors Inc.