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Monday, Jun 27, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Business

Adastra Holdings updates leadership team

Wallin received the Ernst & Young Entrepreneur of the Year award

Adastra Holdings updates leadership team
Photo via Adastra Labs

Adastra Holdings Ltd. (CSE: XTRX) (FRA: D2EP) says it has added a new award-winning member to its board of directors.

On Monday, the Langley-based cannabis firm announced that the new member, Smoke Wallin, has 25 years of experience in the consumer products, beverage, cannabis, distribution and tech industries.

He is a partner and the managing director for the mergers and acquisition firm STS Capital Partners and has served roles as CEO for new and existing businesses. He has been involved in $1.7 billion mergers, acquisitions and financings and has created or sold over 50 brands and companies.

Wallin was recognized with the Ernst & Young Entrepreneur of the Year award and the Vanderbilt Business Distinguished Alumni Award. He was also named one of the 100 most influential leaders in the cannabis industry by High Times Magazine.

Adastra CEO Michael Forbes said Wallin is an accomplished leader and international business builder in the consumer packaged goods, cannabis, health and wellness, food and beverage, distribution, hospitality and tech industries.

“Mr. Wallin is a seasoned executive and serial entrepreneur who has a wealth of knowledge in the cannabis industry. I am confident that he will be an important contributor to our company’s long-term success,” Forbes said.

Adastra is known for its Phyto Extractions brand of cannabis concentrate products available at over 1,400 adult-use retailers. The company also operates Adastra Labs, a 13,500 square feet agricultural-scale Health Canada licensed facility located in Langley, British Columbia.

Company stock stayed flat at $0.65 on Monday on the Canadian Securities Exchange.

Read more: TerrAscend expands leadership team

Read more: Freedom Cannabis signs LOI with U.S.-based Artizen brand

 

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