Heritage Cannabis Holdings (CANN.C) has appointed Erin Prohaska as the company’s new CFO.
Prohaska brings extensive experience leading finance and operations teams, including recently serving as the CFO for LEA Consulting, a multinational consulting engineering firm with over 2,500 employees.
Prior to accepting the position at LEA, she managed and advised notable family offices regarding their finances and business holdings, including venture capital funds.
Her career started at Deloitte, advising clients on both domestic and international tax issues, while in her off-time she chased her masters degree in taxation.
Prohaska will be taking over for Kristina Khersonski.
“A priority of the company has been to strengthen our leadership team. Recent changes to the board in conjunction with these critical additions to our executive team shows that Heritage is preparing itself for our expected future growth. The addition of Erin allows for our other executives and business units to focus on executing our plan,” said Clint Sharples, Heritage’s CEO.
The company also recently added Canadian wine-making legend Donald Ziraldo as chairman, earlier this month. Before Ziraldo, the company appointed former chairman, Sharples, as CEO in September.
Their goals for 2019 include ramping up domestic production from their newly acquired subsidiaries, Purefarm and PhyeinMed, to meet the demands for both THC and CBD-based products.
Heritage subsidiaries Purefarm and PheinMed’s licenses were updated to allow B2B sales in November, the same month Heritage harvested their first crop at their Calgary-based subsidiary, Cannacure.
What’s ahead for Heritage?
Heritage says it will look to fill out their board with expert experience as well as ramp up Purefarma’s production of high-quality CBD extracts, all while expanding its sales and distribution networks.
Sharples projections for the future include a controlled build.
“We’re not looking to be everything to everybody overnight. That’s a recipe for failure. I’ve run businesses before. I’ve built management teams. We’ve had steady growth that delivers profits and we’re not looking at doing anything differently in this,” Sharples said.
Sharples has been busy building out his subsidiaries as well.
CannaCure operates a 122,000 square foot building in Niagara, offering cultivation space, research and development, a large shipping and receiving infrastructure and explosion proof rooms for future extract requirements.
Phyeinmed completed their first phase build-out, consisting of 15,500 square feet of production space last year. The second phase consists of 10 greenhouses to be built by spring 2019.
Purefarma is expanding its CBD and THC oil offerings from within the infrastructure set up by CannaCure and PhyeinMed, and enjoys an existing supply agreement for 1,600 acres of hemp through their partner farmers. It has been harvested in time for the 2019 consumer market.
Here is Clint Sharples on Heritage’s 2019 direction.
–Joseph Morton
Full Disclosure: Heritage Cannabis Holdings is an Equity.Guru marketing client.