AFC Gamma, Inc. Announces Appointment of Daniel Neville as New Chief Executive Officer
October 30 2023 - 8:30AM
AFC Gamma, Inc. (NASDAQ: AFCG) (“AFC Gamma”), a commercial real
estate finance company, today announced the appointment of Daniel
Neville, as its new Chief Executive Officer, effective November 13,
2023. Most recently, Mr. Neville served as the Chief Financial
Officer for Ascend Wellness Holdings, Inc. (“AWH”), a leading
multi-state, vertically integrated cannabis operator. He succeeds
Leonard Tannenbaum, who will transition from his role as Chairman
of the Board and Chief Executive Officer to Executive Chairman
and Chief Investment Officer, effective as of November 13, 2023.
Commenting on the appointment, Mr. Tannenbaum, said, “We are
delighted to have someone with Dan’s expertise in the cannabis
industry take on the CEO role at AFC Gamma. Dan is a proven leader,
who brings deep operational expertise, a strong strategic mindset
and proven leadership abilities. I believe that as a lender, it has
become increasingly important to have in-house operating expertise
to contribute to the underwriting and portfolio management of
cannabis credits. The appointment of Dan as CEO reaffirms AFC
Gamma’s commitment to lending to the cannabis industry and
expanding as the industry grows and continues to need debt capital
to finance its expansion.”
Mr. Neville said, “I am excited to join AFC Gamma as its newly
appointed CEO and apply all that I have learned in building a
multi-state operator from the ground up - to AFC Gamma’s
underwriting, structuring and diligence process. We are excited to
deploy capital and expand AFC Gamma’s platform, as operators have a
difficult time accessing the capital markets, yet continue to seek
debt and equity given the capital intensive nature of the business.
I believe AFC Gamma is uniquely positioned to capitalize on this
opportunity, and we look forward to continuing relationships with
our existing borrowers and supporting new operators that are
building their businesses.”
About Daniel Neville
Mr. Neville, age 37, previously served as AWH's Chief Financial
Officer beginning in August 2020 through November 2023 and, prior
to that, served as SVP Finance. In these roles, he was responsible
for the AWH’s accounting, finance, M&A, IT and procurement
functions. Prior to AWH, Mr. Neville worked at SLS Capital, a
special situations hedge fund based in New York. He served as a
Managing Director from January 2015 to March 2019 and as an Analyst
from April 2010 to January 2015. Previously, he worked as an
investment banker at Credit Suisse in the Technology Group, where
he worked on M&A and IPO transactions. Mr. Neville earned his
Bachelor of Science in Economics from Duke University.
About AFC Gamma, Inc.
AFC Gamma, Inc. (NASDAQ:AFCG) is a publicly-traded,
institutional lender that originates, structures and underwrites
loans secured by commercial real estate and other types of
financing solutions. AFC Gamma targets direct lending and bridge
loan opportunities typically ranging from $5 million to $100
million across multiple real estate sectors, with a specialization
in lending to state-law compliant cannabis operators. It is based
in West Palm Beach, Florida.
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
that reflect the company’s current views and projections with
respect to, among other things, future plans. All statements other
than historical facts, are forward-looking statements. Words such
as “believes,” “expects,” “will,” “intends,” “plans,” “guidance,”
“estimates,” “projects,” “anticipates,” and “future” or similar
expressions are intended to identify forward-looking statements.
These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions and are
not guarantees of future performance, conditions or results.
Certain factors, risks and uncertainties discussed under the
caption “Risk Factors” and elsewhere in AFC Gamma’s most recently
filed periodic reports on Form 10-K and Form 10-Q and subsequent
filings, could cause actual results and performance to differ
materially from those projected in these forward-looking
statements.
INVESTOR CONTACT:
Robyn Tannenbaum561-510-2293
ir@advancedflowercapital.comwww.afcgamma.com
MEDIA CONTACT:
Rich MyersProfile
Advisors347-774-1125rmyers@profileadvisors.com
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