OTTAWA, March 13, 2018 /CNW/ - CannaRoyalty Corp. (CSE:CRZ) (OTC:CNNRF) ("CannaRoyalty" or the "Company"), today announced the appointment of Brent Cox, an experienced leader in cannabis investing, private equity, and leveraged finance transactions, to the Board of Directors of Trichome Yield Corp. ("Trichome"), a subsidiary of CannaRoyalty, effective immediately. Following this board appointment, the board consists of five members, four of whom are independent of CannaRoyalty.
Mr. Cox is an experienced investor and financier. Brent is a founding partner of The Inception Companies, a private investment vehicle focused on the global cannabis market, following a number of years at The Yucaipa Companies, where he helped invest and monitor over USD$4.0 billion of private equity transactions. He currently serves on the boards of two successful vertically integrated U.S. cannabis companies, MedMen and The Pharm.
"I am pleased to announce Brent's addition to the Trichome board," said Marc Lustig, CEO of CannaRoyalty. "Trichome is positioning itself as the premier non-dilutive financier and provider of value-added services to the legal cannabis industry. Brent's knowledge and proven track record, combined with the significant experience of our other valued board members, will be a great addition to Trichome which will ultimately help to generate value for CannaRoyalty shareholders."
Mr. Cox's demonstrated skills complement those of the board appointees announced earlier this month. The existing board members are: Afzal Hasan, Executive Vice President of Corporate Development for CannaRoyalty; Dr. Jonathan Page, founder and CEO of Anandia Laboratories Inc.; Marissa Lauder, CFO of Street Capital Group Inc. and its subsidiary Street Capital Bank of Canada; and Timothy Diamond, CEO of Whitehall Apartments Corp.
Brent Cox is a founding partner of The Inception Companies, a private opportunistic investment vehicle focused on the global cannabis market. Inception has an array of holdings across the capital structure in cannabis related brands, management companies, technology platforms, cultivators / manufacturers, retail outlets and real estate. Previously, Brent was a principal at The Yucaipa Companies, a private equity firm, where he helped invest and monitor over USD$4.0 billion of private equity transactions. Prior to Yucaipa, Brent was an investment banking analyst at Jefferies & Co. in the Leveraged Finance Group. Mr. Cox earned a B.S. in Accounting from the University of Southern California. He currently serves on the boards of two successful vertically integrated U.S. cannabis companies, MedMen and The Pharm. Previously, he has been a board member or observer for Soho House Group, Americold Realty Trust, Versacold International Corp., Stephen Webster, Garrard & Co. Limited, and Hf.Eimskipafelag Islands.
CannaRoyalty is an active investor and operator in the legal cannabis industry. Our focus is building and supporting a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt, licensing agreements and its own branded portfolio. CannaRoyalty's shares trade on the Canadian Stock Exchange (CSE) under the symbol CRZ and internationally on the OTCQX under the symbol CNNRF.
Trichome is a majority-owned subsidiary of CannaRoyalty and was formed to offer secured lending solutions to companies operating across the Canadian cannabis value chain. Trichome expects to offer a suite of simple asset-backed lending solutions to cannabis companies looking to fund: capital expenditures including the build out or expansion of existing facilities; the purchase of equipment and inventory; working capital to support growth; and other capital requirements. Trichome is focused primarily on addressing the largely underserviced Canadian cannabis debt market and expects to expand to meet the needs of companies operating in fully legal international markets as those jurisdictions develop.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in CannaRoyalty's periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward- looking statements.
Forward-looking statements may include, without limitation, statements regarding the Company's expectations with respect to pursuing new opportunities and future growth for Trichome and other statements of fact.
Although CannaRoyalty has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: competition from banks and other lenders; movements and long term trends in interest rates; the ability of management to select companies that will increase in value and to compete for desirable transactions; the ability to source desirable transactions; dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history; changes in laws; limited operating history; reliance on management; requirements for additional financing; and regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. CannaRoyalty disclaims any intention or obligation to update or revise such information, except as required by applicable law, and CannaRoyalty does not assume any liability for disclosure relating to any other company mentioned herein.