TORONTO, July 23, 2018 (GLOBE NEWSWIRE) — Lineage Grow Company Ltd. (the “Company” or “Lineage“) (CSE:BUDD) is pleased to announce the appointment of Steve Peterson, a top cannabis retail executive with extensive dispensary management experience, to the role of VP, Retail.
“Retail is a key component of our strategy,” said Lineage CEO Peter Bilodeau. “It is where we intend to capture market share for our products by offering consumers a welcoming and engaging shopping experience and unique products. We see significant potential to improve the performance of the assets we’re acquiring and create a synergy between locations in developing a national brand. By adding Steve’s industry knowledge, we will be in position to deploy best-in-class operating procedures and marketing strategies to drive improved performance.”
Steve Peterson is a recognized cannabis executive that has combined his General Manager experience of running one of California’s largest cannabis retailers, Elemental Wellness Center, with working a variety of cannabis manufacturers, cultivators, and service providers to meet the needs of this emerging industry through his partners at Turning Points Global. Internationally, Peterson has also consulted with an Israeli firm in raising funds for over 30 clinical trials and soon the export of cannabis and consulted for I-5 Holdings Ltd. on acquisitions which, prior to being acquired by Captor Capital Corp., operated two dispensaries in Los Angeles operating under the MedMen brand.
Peterson’s hiring comes at a time when Lineage is looking to expand its retail footprint in North America. In December 2017, Lineage announced the acquisition of two dispensaries operating under the Terpene Station banner with a solid track record of serving the Oregon craft cannabis market. Since then, Lineage has maintained a torrid pace of acquisitions having secured agreements to acquire interests in LUX Cannabis Dispensary, one of 16 licensed dispensaries in San Jose, and Herbiculture Inc., one of the few licensed medical marijuana retailers in Maryland. As the Company works towards closing these acquisitions, adding an abundant source of cannabis retail knowledge to assist with integrating and overseeing operations is a significant milestone.