- The appointment of new CFO Nikhil Handa is expected to enhance the company’s growth strategy this year, as market demand intensifies
- Supreme Cannabis has also announced the appointment of Kenneth R. McKinnon to its board of directors; McKinnon’s governance experience will strengthen the already robust board of directors
- These strategic appointments occur as Supreme Cannabis is expanding its portfolio of businesses to include an equity investment and long-term global distribution partnership
As it continues to grow, The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) is strengthening its managerial and leadership teams. In March 2019, Supreme Cannabis announced two key additions to its team – a new CFO and a new member of the company’s board of directors.
Nikhil Handa was announced as the company’s new chief financial officer on March 8, 2019. The company’s former CFO, Dimitre Naoumov, transitioned to the role of vice president of finance, according to a company press release (http://ibn.fm/OCobW).
Handa will be responsible for the stewardship of the Supreme Cannabis finance department, with an emphasis on capital allocation and planning. As the company focuses on enhancing the distribution of its premium cannabis products both locally and internationally, a novel financial management approach will be required.
Supreme Cannabis is expected to benefit from Nikhil Handa’s extensive experience. Handa was the VP of finance at Well.ca – a well-known online platform in the health, wellness, beauty and child care products niche. During his time at Well.ca, Handa provided leadership across various aspects of operations and also pushed forward key strategic initiatives. He was primarily responsible for the sale of Well.ca to McKesson Canada.
Over his lengthy career, Handa has held key financial positions in numerous organizations.
“Mr. Handa brings a wealth of transactional experience, strategic leadership and financial acumen to our management team and will provide complimentary experience to our already strong finance team,” Supreme Cannabis CEO Navdeep Dhaliwal said in a news release. “His addition will help ensure our Company is well-positioned to seize on available growth opportunities as we look to expand our portfolio of businesses throughout 2019.”
Supreme Cannabis has also appointed Kenneth R. McKinnon as a new independent director. The appointment of McKinnon is bound to strengthen the board of directors due to his substantial financial and business advisory experience (http://ibn.fm/Ahtjp). McKinnon is a partner at Citrus Capital Partners Ltd. He also serves on the board of Touchstone Exploration Inc. and Alvopetro Energy Ltd. Previously, McKinnon served as chairman of both Lightstream Resources Ltd. and Petrominerales Ltd. He was on the University of Calgary board of governors, and he also acted as a director of Alberta Innovates.
According to Dhaliwal, McKinnon brings a wealth of governance experience to the already strong and robust Supreme Cannabis board of directors. He stated in a news release that the addition will be of great value, as the company anticipates strategic growth in 2019.
“As the Company embarks on a period of tremendous growth and differentiation, I look forward to working with the management team to implement the best practices in corporate governance,” McKinnon added.
The Supreme Cannabis Company has been at the center of the cannabis industry in Canada since 2014. The company owns 7ACRES – a licensed cannabis producer operating a 440,000 sq. ft. facility in Ontario. 7ACRES focuses on the production of significant quantities of high quality cannabis, and its primary goal is to become Canada’s leading cultivation entity.
For more information, visit the company’s website at www.Supreme.ca
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