Cody Church
brings extensive financial and capital markets experience to
the team
CALGARY, July 4, 2019 /CNW/ - Westleaf Inc.
(TSX-V:WL)(OTCQB:WSLFF) ("Westleaf" or the "Company")
is pleased to announce the appointment of Cody Church to the Board of Directors of the
Company.
Mr. Church joins Westleaf after a successful career in finance
in New York and Calgary. Most recently, Mr. Church was the
co-founder and senior managing director of TriWest Capital
Partners, one of the largest general buyout funds in Western Canada and one of the leading private
equity groups in the country.
"Cody brings a vast knowledge of the financial markets, both
from a private equity and public company position, and a
far-reaching network within the financial community in Canada and the US," said Stephen Mason, Founder and Executive Chairman of
Westleaf. "Cody's experience complements an already deep talent
pool within Westleaf and we are excited to have him join our
board."
Mr. Church began his career with CS First Boston in 1993 and
worked in the area of acquisitions and divestitures, high yield
bonds, IPOs and re-financings. He then went on to work in private
equity with EXOR America establishing a solid reputation for
financing, structuring and deal flow, before returning home to
Calgary to start TriWest in 1997.
TriWest raised $1.3 billion of
committed equity capital through five managed funds and generated
exceptional returns across all five funds. Mr. Church retired from
TriWest in 2018 and founded Clear North Capital where he serves as
President and CEO.
Mr. Church is a graduate of Harvard
University receiving a Bachelor of Economics, and is an
active member of the community, having served on the board of the
Calgary Stampede Foundation, the Alberta Children's Wish Board, and
the Calgary Parks Foundation among others. He was also named one of
Canada's Top 40 under 40 and is a
guest lecturer at the University of
Calgary's faculty of Corporate Finance.
In connection with the appointment, Westleaf has granted 90,909
restricted share units ("RSUs") to Mr. Church in accordance with
its Restricted Share Unit Award Plan dated May 29, 2018. 84,745 RSUs were also granted to
Mr. John Radostits in connection
with his previous appointment. The RSUs will be granted as of
the date of this news release, are valued at $0.55 per unit and will vest in a series of four
equal tranches over 12 months following the date hereof.
Mr. Church joins fellow directors: Chairman Stephen Mason, CEO Scott
Hurd, Delbert Wapass,
John Radostits and independent
members Robb McNaughton and
Kareen Stangherlin.
About Westleaf Inc.
Westleaf is a vertically integrated cannabis company focused on
innovative retail experiences and engaging cannabis brands as well
as cultivation, production and extraction of cannabis products.
Westleaf is rolling out a national retail footprint for its
cannabis retail concept Prairie Records. Westleaf also has
two significant production facilities - Thunderchild
Cultivation in Battleford,
Saskatchewan, which is scheduled for completion in 2019 and
The Plant extraction, processing and product formulation
facility in Calgary, Alberta,
where construction was recently completed. Commencement of
production at both facilities remains subject to receipt of an
operating license from Health Canada. For more information, please
visit www.westleaf.com or www.prairierecords.ca
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
Cautionary Statements
This news release contains "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of the applicable Canadian
securities legislation. All statements, other than statements of
historical fact, are forward-looking statements and are based on
expectations, estimates and projections as at the date of this news
release. Any statement that involves discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always
using phrases such as "expects", or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans",
"budget", "scheduled", "forecasts", "estimates", "believes" or
"intends" or variations of such words and phrases or stating that
certain actions, events or results "may" or "could", "would",
"might" or "will" be taken to occur or be achieved) are not
statements of historical fact and may be forward-looking
statements. This news release, forward-looking statements relate,
among other things, to the development of retail cannabis stores,
the construction of Westleaf's production facilities and the timing
for completion of the same, commencement of production at
Westleaf's production facilities, timing of required regulatory
approvals, and the business and operations of the Westleaf.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable, are
subject to known and unknown risks, uncertainties, and other
factors which may cause the actual results and future events to
differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to: risks relating to the ability to obtain or maintain
licences to retail cannabis products; review of Westleaf's
production facilities by Health Canada and receipt of licences from
Health Canada in respect thereof; future legislative and regulatory
developments involving cannabis, including the passing of
regulations regarding derivative cannabis products; inability to
access sufficient capital from internal and external sources,
and/or inability to access sufficient capital on favourable
terms; general business, economic, competitive, political
and social uncertainties; the satisfaction of conditions precedent
under Westleaf's credit facilities; timing and completion of
construction of Westleaf's production facilities and retail
locations; and the delay or failure to receive board, ATB Financial
or regulatory approvals, including any approvals of the TSX Venture
Exchange, as applicable. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
the forward-looking statements and information contained in this
news release. Except as required by law, Westleaf assumes no
obligation to update the forward-looking statements of beliefs,
opinions, projections, or other factors, should they
change.
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SOURCE Westleaf Inc.