Marijuana usage may be illegal at the federal level in the United States, but US cannabis companies traded on the Canadian Securities Exchange continue to grow and announce new management appointments thanks to individual state laws.
Vancouver-based Body and Mind Inc. (CSE: BAMM, US OTC: BMMJ), which primarily operates dispensaries in Nevada, just announced the appointment of Trip Hoffmann as the company’s new Chief Operating Officer (COO).
Recreational cannabis usage became legal in Nevada last year thanks to a ballot initiative passed directly by votes in late 2016.
Hoffman was approved for the COO position by the Body and Mind (BaM) board of directors this week and moves into the role after previously serving as the CEO and co-owner of a cannabis production and distribution company in Colorado.
Hoffman had this to say about officially joining BaM’s upper management:
“I am very pleased to be joining the Body and Mind team as the business enters a phase of significant expansion. Along with the incredibly-talented team of experienced leaders, I am excited to bring my cannabis industry experience to further add value to the expansion of the Body and Mind operations and brand.”
Hoffman has previously worked with startups in the financial technology & services industry, as well as consulting for companies in the US cannabis industry.
BaM director Robert Hasman commented on the company’s newest officer:
“Trip brings significant operational, financial, agricultural and cannabis experience which will be invaluable as we grow Body and Mind to the next level. Trip’s experience running Colorado cultivation facilities and dispensary operations will immediately benefit our operations as we expand the premium Body and Mind brand.”
In related news, Body and Mind Inc. also appointed Australis CEO Scott Dowty as a new member of the BaM board of directors following a strategic investment deal between the two companies.
Under the terms of the deal, Australis Capital Inc. (CSE: AUSA) purchased 16 million shares of Body and Mind for $8 million.