- Formerly of Tilray Canada and Nestlé Canada, brings over 20 years of corporate finance, banking, M&A, and CPG experience
- Succeeds Lincoln Greenidge who is stepping down from CFO role effective April 30th, 2021
Toronto, Canada, April 14, 2021 – WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally licensed producer and distributor of medical-grade cannabis, is pleased to announce that Beth Carreon, a seasoned financial executive with broad experience in corporate finance, mergers and acquisitions (M&A), banking and consumer-packaged goods (CPG), joins the Company as Chief Financial Officer, effective May 3rd, 2021. She succeeds Lincoln Greenidge, who will be stepping down from his role as CFO effective April 30th, 2021.
Most recently, Ms. Carreon served as Vice President of Finance at Tilray Canada where she successfully led and managed the company’s global treasury, shared services and financial planning teams as well as M&A integration activities. She brings significant experience in both the cannabis and the CPG industries, having previously worked over 12 years at Nestlé Canada Inc. in progressive finance leadership roles. Ms. Carreon began her career as an auditor and management consultant with tenures at major accounting firms including Ernst & Young, PricewaterhouseCoopers and Deloitte.
“We are thrilled to welcome Beth to our team as we move into a period of aggressive commercial expansion and continue to optimize our operations for future sustainable revenue growth,” said George Scorsis, CEO and Executive Chair, WeedMD. “Beth is a dynamic and inspiring leader with an excellent reputation for execution. Her extensive experience in securing tactical development opportunities, both internally and externally, brings considerable bench-strength to the team as we drive to meet our profitability goals going forward.”
Mr. Scorsis added, “I want to thank Lincoln for all his contributions during our pivotal, year-long integration period with Starseed Medicinal and we wish him all the best in his future pursuits.”
Ms. Carreon commented, “I’m excited to be joining the WeedMD family at this watershed moment as the Company progresses to the next phase of its commercialization plans and growth strategy. I’ve long admired WeedMD’s culture, cultivation pedigree and innovative product portfolio and I look forward to leading its finance organization and contributing to its long-term success.”
A highly experienced finance professional, Ms. Carreon obtained her chartered accountant professional designations, CPA-CMA in Ontario and holds an MBA from Duke University – The Fuqua School of Business and a B.Sc., Accountancy from De La Salle University, Philippines.
Ms. Carreon resides with her family in the Toronto, Ontario area and will be based out of WeedMD’s corporate office in downtown Toronto.
About WeedMD Inc.
WeedMD Inc. is the publicly traded parent company of WeedMD RX Inc. and Starseed Medicinal Inc., licence holders producing and distributing cannabis products for both the medical and adult-use markets. The Company owns and operates a 158-acre state-of-the-art greenhouse, outdoor and processing facility located in Strathroy, ON as well as a fully-licensed 26,000 sq. ft. Aylmer, ON processing facility, specializing in cannabis extraction. With the addition of Starseed, a medical-centric operator, WeedMD has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with employers and union groups complements WeedMD’s direct sales to medical patients. The Company maintains strategic relationships in the seniors’ market and supply agreements with Shoppers Drug Mart as well, as seven provincial distribution agencies where adult-use brands Color Cannabis and Saturday are sold.
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Forward Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation which are based upon WeedMD’s current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as “expect”, “likely”, “may”, “will”, “should”, “intend”, “anticipate”, “potential”, “proposed”, “estimate” and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions “may”, “would” or “will” happen, or by discussions of strategy.
The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking information in this news release include, but are not limited to, statements with respect to internal expectations, expectations with respect to actual production volumes, expectations for future growing capacity and the completion of any capital project or expansions. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally; the ability of WeedMD to implement its business strategies; the COVID-19 pandemic; competition; crop failure; and other risks.
Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, WeedMD does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for WeedMD to predict all such factors. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in WeedMD’s disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
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