MJBizMag May-June 2022 - 60

INDUSTRY PLAYERS New Hires & Promotions by Omar Sacirbey
Bank Pioneer Hires Chief Investment Officer
Safe Harbor Financial, a leading financial services provider to the cannabis
industry, hired Paul Penney as chief investment officer.
Before joining Colorado-based Safe Harbor, Penney spent three years
as chief investment officer at KreditForce, a merchant bank focused
on emerging growth industries including cannabis, where he managed
investment portfolios. Before KreditForce, Penney was a senior research
analyst and managing director with Northland Capital Markets, where he
provided research coverage on the cannabis sector and was an adviser and
underwriter for several marijuana companies when they went public.
Penney's finance career started in 1994 with a three-year stint as
senior auditor with PricewaterhouseCoopers. He then jumped to wealthmanagement
firm Robertson Stephens, where he was a senior equity
analyst for four years. He spent the next seven years as a senior vice
president on the institutional equity desks of Merrill Lynch and Lehman
Brothers, where he participated in more than 250 IPOs and follow-on equity offerings.
Penney went on to serve as managing director and portfolio manager at Cypress Funds and was the
managing and founding partner at Compass North Capital, a long-short equity fund focused on the retail,
financial technology and media industries.
Penney also served as a strategic adviser and board member to several cannabis companies,
including Humboldt Farms, Kikoko, Kush Co., Stiiizy, Sunday Goods and TapRoot.
At Safe Harbor, Penney will lead lending strategy, investor relations and investment opportunities as well
as assist with M&A strategy, according to a statement by Safe Harbor founder and CEO Sundie Seefried.
Sandy Li
Wana Snags CFO from Parallel
Multistate infused edibles company
Wana Brands appointed Sandy
Li as its chief financial officer.
Before Wana, Li served as vice
president of finance, head of
financial planning and analysis and
treasury at Parallel, a privately held
multistate cannabis operator with
headquarters in Atlanta.
Before breaking into cannabis at
Parallel, Li was head of investment
bank activities-Asia markets for
Loop Capital Markets, which she
joined after a stint as interim CFO
at Weir Minerals.
60 May-June 2022 | MJBizMagazine
Li also spent 10 years with USG,
a manufacturer and distributor
of building systems, where she
held senior accounting and
business-development roles. In
1995, Li co-founded a company in
China, Chengdu Pecan Information
Technology, which she led as
president for five years.
Li will be based in Boulder,
Colorado, and report to Wana CEO
Nancy Whiteman.
Canopy C-Suite Growth
Ontario, Canada-based Canopy
Growth Corp. has a new chief
financial officer, Judy Hong, and
a new chief operating officer,
Jonathan Di Tosto. The Canadian
cannabis giant also created four
new senior leadership roles.
Hong served as Canopy's interim
CFO after holding senior investor
relations posts since 2019, when she
joined the company. Before Canopy,
Hong spent nearly 22 years at
Goldman Sachs, including six years
as a managing director.
Di Tosto assumed the COO role
from Andrew MacCorquodale,
who is moving into a strategic
advisory role with Canopy. Di Tosto
joined Canopy in May 2021 as vice
president-supply chain, focusing on
optimizing Canopy's global supplychain
organization.
Before Canopy, Di Tosto spent
16 years with food-processing
and distribution company George
Weston, most recently as vice
president of planning and logistics,
where he was accountable
for end-to-end supply-chain
strategy, process and execution
throughout Canada and the U.S.
Canopy also announced that, in a
move to advance its U.S. strategy,
the company created four new
senior leadership roles. These roles
will be filled by executives who

MJBizMag May-June 2022

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