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Over the past year, many cannabis businesses opted to reinforce their teams by hiring beverage experts.
MediPharm Labs (OTCQX:MEDIF) tapped former Nestlé Canada s President and CEO Shelley Martin to join its board of directors.
Mydecine (OTC:MYCOF) and
Canateq Holdings followed suit a month later. Jim Gunning, a former Red Bull North America s Sports Marketing Director, and former RESQWATER s Managing Director, joined the Denver-based company to serve as Chief Marketing Officer.
Canateq welcomed the two former Molson-Coors executives, Mark Hunter and Kandy Anand, to its board of directors.
Red White & Bloom
Brands Inc. (OTC:TDRYD) hired Jonathan Fentress in October to oversee its Sales and Marketing department, touting his experience within the cannabis, hemp, food, beverage, and tobacco industries.
Aphria (NASDAQ:APHA) and
Tilray (NASDAQ:TLRY). Benzinga spoke with Aphria CEO and chairman
Irwin D. Simon, who will maintain those two positions in the new company, and Tilray CEO
Brendan Kennedy, who will serve in the new corporation’s board of directors. The executives shared details on how the deal came to be, and their expectations for the future, which, they say, doesn’t include massive layoffs.
Cantor Fitzgerald’s analyst Pablo Zuanic praised the merger. The Canadian cannabis sector is in need of consolidation due to the oversupply problems and “historically low flower retail prices,” he explained.
Green Market Report CEO Debra Borchardt told Benzinga the Aphria/Tilray merger “was certainly a good deal for Tilray shareholders, while the Aphria shareholders will probably have to wait a bit before they see the benefits of this deal. The combined company will definitely be a powerhouse of revenue, there is no question about that.”