Cannabis Wheaton Appoints Notable Industry Player Michael Lickver as EVP of Strategy; Updates Financing
Marketwired
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 14, 2017) - Cannabis Wheaton Income Corp. (TSX VENTURE:CBW) ("Cannabis Wheaton", "CW", or the "Company") is very pleased to announce that it has appointed advisory board member and cannabis industry leading expert Michael Lickver to the position of Executive Vice President of Strategy.
Mike is currently a corporate and commercial associate at Bennett Jones LLP where he is a key member and helped build the firm's Cannabis Group, the leading cannabis-focused legal advisory business in the country. Mike has played a key role in a variety of domestic and international corporate and commercial cannabis-focused transactions. He speaks regularly at conferences across North America on topics related to the cannabis industry, is a frequent author on cannabis issues and is currently the Canadian Editor of the International Cannabis Law Journal.
Mike is also on the board of advisors of Stoic Advisory Inc., a consulting firm focused on providing corporate finance expertise to clients in the global cannabis industry as well as the board of directors of Summit Leaders, a not-for-profit organization that aims to help Canadian youth engage in entrepreneurship. In addition to his work as pro bono counsel to Cannabis Canada and Canadians for Fair Access to Medical Marijuana, Mike is an Adjunct Professor at Western Law School where he teaches "Medical Marijuana: Law & Practice", a law school course which he co-designed and the first of its kind in Canada. Mike earned Law (J.D.) and MBA degrees from the University of Western Ontario and the Richard Ivey School of Business.
As EVP of Strategy, Mike will be responsible for developing, communicating and executing Cannabis Wheaton's corporate strategy initiatives.
Chuck Rifici noted, "Mike has been instrumental in building the largest cannabis legal practice in Canada and brings a diverse background of legal, strategic and financial experience to Cannabis Wheaton. Having known and worked with Mike for several years, it is clear to me that through both his legal career and previous experience in the entertainment industry, he brings a unique skill set to Cannabis Wheaton and is positioned to provide some of the best insight available in our industry. We are thrilled to have Mike join Cannabis Wheaton and look forward to adding his always thoughtful and creative touch to the team."
Mike stated, "The opportunity to utilize the knowledge and relationships that I have built in the cannabis space to directly drive the strategy and growth of Cannabis Wheaton was one that I could not overlook.
I feel privileged to be working alongside Chuck Rifici, Hugo Alves and the other talented members of Cannabis Wheaton with the vision of building a cannabis company that brings to bear financially creative solutions and works to build value for its partners and shareholders. Joining the Cannabis Wheaton team is an exciting challenge and I look forward to continuing my career in this unique and budding industry.
I feel privileged for having the opportunity to have started my professional career at Bennett Jones. I am also grateful for everything the firm and all of its exceptional lawyers and staff have provided for me over the years as they are lessons and experiences I will carry forward to the next chapter of my career. Many of my colleagues and clients have become my closest friends and I want to thank them for all of their support and guidance. I'm looking forward to the future and the new challenges that lie ahead."
Mike will commence his new role with Cannabis Wheaton after a short period of transition from Bennett Jones in order to ensure an orderly succession of his legal practice and ongoing client matters to the other senior members of Bennett Jones' Cannabis Group.
UPDATE ON FINANCING
The Company is pleased to report that investor interest in the special warrant and convertible debenture units being sold under the best-efforts private placement announced June 6th led by Mackie Research Capital Corporation has resulted in orders exceeding the fundraising and over-allotment maximum offering size of $57.5 million.
The Company anticipates closing on an oversubscribed offering in accordance with previously announced timing.
ON BEHALF OF THE BOARD
Chuck Rifici, Chairman & CEO
About Cannabis Wheaton Income Corp. (TSX VENTURE:CBW)
Backed by a team of industry experts, Cannabis Wheaton is the first cannabis streaming company in the world. Our streams will include production from across Canada coming from our partners comprised of licensed producers of cannabis (LP) and LP applicants. Cannabis Wheaton's mandate is to facilitate real growth for our streaming partners by providing them with financial support and sharing our collective industry experience.
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: receipt of regulatory approvals of the private placement, inability to complete the private placement on the proposed terms or at all, the ability to generate revenue through the streaming agreements, the ability to consummate transactions which are currently in discussions, requirements to obtain additional financing, timeliness of government approvals for granting of permits and licences, including licences to cultivate cannabis, completion of the facilities, where applicable, actual operating performance of the facilities, regulatory or political change, competition and other risks affecting the Company in particular and the medical cannabis industry generally. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
