Vancouver-based cannabis extracts manufacturer and distributor, Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA), announced key changes to its executive leadership and board of directors on Monday.
The company introduced Sam Kassem, CFA, BBA as the Interim Chief Financial Officer. Kassem brings a decade of experience in the cannabis industry, having worked with cultivators, processors, and contributed to building a leading technology provider in the space. His expertise lies in streamlining financial processes, implementing effective cash flow management strategies, and improving operational efficiencies that translate into revenue and operational enhancements.
Kassem replaces Kevin Keagan who transitioned out of his role as CFO on September 27, 2023. Keagan has been with the company since April 2022 and will continue to serve on the company’s board of directors.
In addition to the executive change, Nextleaf also added Emma Andrews, Interim CEO, to its board of directors effective from September 27, 2023. Andrews expressed confidence in the recent appointments stating they represent Nextleaf’s commitment to the trajectory ahead in consumer-packaged goods and cannabis processing. She added that these moves are part of assembling the team and capabilities needed to support sustained growth.
Nextleaf is a federally regulated manufacturer and distributor of cannabis vapes and oils under its award-winning prohibition-era brand, Glacial Gold™. The company sells its branded products to government distributors and authorized retailers in four provinces in Canada. It also operates Nextleaf Labs, a low-cost producer of cannabis oils and supplier of THC and CBD to qualified wholesale partners across Canada and internationally.
The Company’s patented ingredient processing technology transforms unsold cannabis and hemp biomass into high-purity distillate at an industrial scale. It holds 15 U.S. patents, and 75 patents globally, on cannabinoid processing including extraction, distillation, and acetylation.
Nextleaf Solutions trades as OILS on the Canadian Securities Exchange, OILFF on the OTCQB Market in the United States, and L0MA on the Frankfurt Stock Exchange.