PE-backed medical cannabis startup Tilray appoints Castaneda as CFO

Canadian medical cannabis startup Tilray Inc has named Mark Castaneda as chief financial officer. Previously, he led IPOs for companies that included Primo Water Corp, Pike Electric Inc and Blue Rhino Corp. Tilray is a portfolio company of Privateer Holdings, a Seattle-based private equity firm focused on the legal cannabis sector.

PRESS RELEASE

TORONTO–(BUSINESS WIRE)–Tilray Inc., a global pioneer in cannabis cultivation, processing and distribution, today announced that Mark Castaneda has joined the company as Chief Financial Officer (CFO). In his capacity as Tilray CFO, Castaneda will be responsible for stewarding Tilray’s finances as the company pursues an aggressive global growth strategy to scale distribution of its high-quality cannabis products in Canada and internationally. Castaneda will be based in Toronto and report to Tilray CEO Brendan Kennedy.
Castaneda is a seasoned financial executive with broad experience in consumer goods, distribution, construction, energy, and retail in private equity and public high-growth companies at various stages of development from start-up to public. Previously, he served as CFO and led initial public offerings for high-growth companies such as Primo Water Corporation, Pike Electric, Inc., and Blue Rhino Corp. He currently serves as Audit Committee Chair on the Board of Directors of Ranir Global Holdings, LLC.

Tilray, licensed to cultivate cannabis in Canada and Europe, currently sells pharmaceutical-grade, GMP-certified medical cannabis products to tens of thousands of patients in ten countries spanning five continents. In February 2018, Tilray announced the completion of a C$60 million Series A funding round comprised of leading global institutional investors. Tilray closed an extension to that round of C$9 million from additional investors in March 2018, bringing the total round to C$69 million. Tilray will use the new funding to increase its existing production capacity in North America, to continue to build its European Union campus in Portugal, and to expand availability of its products to more patients and pharmacies around the globe. The terms of the Series A funding round, including Tilray’s valuation, were not disclosed.

About Tilray®
Tilray is a global pioneer in cannabis, cultivation, processing and distribution currently serving tens of thousands of customers in ten countries spanning five continents.