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Acreage Holdings, Inc. (OTCQX:ACRHF) (OTCQX:ACRDF) (CSE:ACRG) (CSE:ACRG) announced that in connection with the company’s efforts to right-size it’s governance structure, Kevin Murphy, chairman of the board of directors, and Brian Mulroney, board member, are stepping down from their respective roles effective August 4, 2023. Dennis Curran, CEO of the company, will assume the role of chairman of the board upon Murphy’s resignation.
The company has implemented a streamlined governance structure that is appropriately sized for Acreage’s near-term priorities as it prepares for the completion of its strategic arrangement (the “floating share arrangement”) with Canopy Growth Corporation (NASDAQ:CGC) and Canopy USA, LLC. In connection with this initiative, the company is evaluating corporate governance actions that would reduce its number of required board members to three. In the interim, Carl Nesbitt, CFO, and Corey Sheahan, executive vice president, general counsel and secretary, will be appointed to the board, effective August 4, 2023.
Murphy stated, “I am honored to have been a part of the Acreage team for over a decade. The remarkable milestones we have achieved and unique hurdles we navigated together in this nascent industry are a testament to the drive and passion the team upholds. It has been a privilege to play a role in the continued growth of Acreage since its inception and I look forward to witnessing its bright future while it embarks on a new, exciting path under Canopy USA.”
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