Cannabis  March 25, 2022

Wana Brands continues C-suite shakeup with new CFO

BOULDER — Just weeks after Wana Brands hired a new chief operating officer, the  Boulder-based cannabis edibles company has brought aboard a new chief finance officer.

Sandy Li joins Wana after a stint as vice president of finance at cannabis firm Parallel, a company that last year merged with special-acquisition company Ceres Acquisition Corp.

“I’m delighted to join Wana, a company that I have long admired for its trusted and innovative products, strategy entering new markets and commitment to racial justice within the cannabis industry,” Li said.  “I look forward to working with [Wana CEO Nancy Whiteman] and the team to move Wana forward on its financial and  operational goals during this exciting time in Wana’s growth.”

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Wana’s trajectory reached an inflection point last year when it agreed in principle to a potential merger with cannabis giant Canopy Growth Corp. (TSX: WEED, Nasdaq: CGC) for $297.5 million in cash and other considerations. 

The agreement gives Canopy call options to buy each of Wana’s three entities — Mountain High Products LLC, Wana Wellness LLC and The Cima Group LLC — for 15% of their fair market values at the time the option is exercised. The deal is contingent on the U.S. government legalizing cannabis at the federal level. 

BOULDER — Just weeks after Wana Brands hired a new chief operating officer, the  Boulder-based cannabis edibles company has brought aboard a new chief finance officer.

Sandy Li joins Wana after a stint as vice president of finance at cannabis firm Parallel, a company that last year merged with special-acquisition company Ceres Acquisition Corp.

“I’m delighted to join Wana, a company that I have long admired for its trusted and innovative products, strategy entering new markets and commitment to racial justice within the cannabis industry,” Li said.  “I look forward to working with [Wana CEO Nancy Whiteman] and the team to…

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