We’re excited to announce today that Mark Castaneda has joined the Tilray team as Chief Financial Officer (CFO). In his capacity as Tilray CFO, Castaneda will be responsible for stewarding Tilray’s finances as we pursue an aggressive global growth strategy to scale distribution of its high-quality cannabis products in Canada and internationally.
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 early stage 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 10 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.