Derrek Higgins to Lead California Hashish Enterprises’ Sequence A, Drive Monetary Efficiency, Operations and Progress of the Firm and Its Subsidiaries, together with Glass Home Farms, Glass Home Manufacturers, Roam Escapes, Retailers The Pottery, Bud & Bloom and Others
July 9, 2019 — LOS ANGELES — California Hashish Enterprises (CCE), a totally vertically built-in cannabis firm and one of many high 5 largest cultivators within the U.S. by way of its subsidiary Glass Home Farms that just lately secured an impartial valuation of $380 million, introduced the appointment of Derrek Higgins as its chief monetary officer (CFO). In his new function, efficient instantly, the previous CFO and board member of FLRish Inc., the mum or dad firm of publicly-traded Harborside Inc. (CSE: HBOR), will report back to CCE Chief Government Officer (CEO) Kyle Kazan and is liable for main CCE’s Sequence A, managing its monetary actions and planning, overseeing money movement, analyzing monetary strengths and implementing development methods.
Higgins brings greater than 20 years of private and non-private firm monetary experience to CCE in getting ready venture-backed startups for public listings, representing shareholders and implementing complete profitability and dealing capital plans. Derrek has held varied key roles all through his profession, together with most just lately because the CFO of FLRish Inc., the mum or dad firm of Harborside Inc., one of many oldest, largest and most revered cannabis operators on the planet. At FLRish/Harborside, Higgins helped: lead the completion of Harborside’s reverse takeover of FLRish, Inc.; closed a $19.65 million capital increase previous to Harborside’s public itemizing on the Canadian Securities Alternate (CSE), which started buying and selling underneath the ticker image “HBOR” on June 10, 2019; and carried out public reporting frameworks, accounting insurance policies and operational transformation initiatives throughout the monetary operations of the corporate, its subsidiaries and managed entities.
“Derrek’s complete monetary, operational and cannabis business expertise, alongside along with his expertise efficiently main capital raises and taking corporations public whereas driving profitability and development, can be a aggressive benefit as we develop our footprint and discover new offers, mergers, acquisitions and in the end go public,” mentioned CCE CEO Kyle Kazan. “With a vertically built-in mannequin that already consists of Glass Home Farms, Glass Home Manufacturers, Roam Escapes, retailers The Pottery, Bud & Bloom, influencer and celeb partnerships, a bunch of offers within the works, a large California footprint, a confirmed worthwhile mannequin and nil debt on our books, Derrek’s appointment underscores our dedication to the cannabis business and hiring high expertise with a confirmed observe file. We stay up for working carefully with him as we proceed to scale our firm as the worldwide cannabis market emerges and matures.”
Previous to FLRish/Harborside, Higgins served as a advisor for The Brenner Group LLC, the place he supplied CFO advisory companies to venture-backed startups and mid-size corporations, developed and executed strategic plans, raised capital and managed shareholder illustration. Derrek additionally served as a advisor at Alvarez & Marsal, a worldwide skilled companies agency identified for its work in turnaround administration and efficiency enchancment of enormous, high-profile companies each within the U.S. and internationally, offering important help to corporations in disaster conditions and serving to to stabilize monetary and operational efficiency by growing and implementing complete profitability and dealing capital plans.
“The cannabis business is extraordinarily aggressive and capital intensive,” mentioned CCE CFO Derrek Higgins. “Understanding the panorama is every part. I stay up for bringing my experience within the house to efficiently lead CCE’s capital raises and shut good offers, and am excited to work with the all-star workforce Kyle has put collectively as we scale up our footprint, drive profitability and improve investor worth.”
Higgins holds a B.S. diploma in Accounting from Arizona State College and an MBA from the USC Marshall Faculty of Enterprise.
About California Hashish Enterprises, Inc.
One of many high 5 largest cultivators and vertically-integrated cannabis corporations on the planet, California Hashish Enterprises, Inc. (CCE) is setting a brand new bar for what cannabis carried out proper means. CCE’s household of environmentally, community-conscious cannabis corporations, manufacturers and product traces span throughout all the cannabis business’s ecosystem and embody Glass Home Farms, Glass Home Manufacturers, Roam Escapes, retailers The Pottery and Bud & Bloom and others. Because the cannabis business’s main brand-enabler, celebrities, artists, athletes and influencers flip to CCE to create highly effective partnerships that attain new audiences and drive client engagement. At present, CCE is quickly increasing its household of corporations, product traces, manufacturers and variety of staff, and is predicted to see sizable development all through 2019 and past. For extra data, go to http://www.cacannabisenterprises.com/, https://twitter.com/calcannaenter or https://www.linkedin.com/firm/calcannabisenterprises/.