Lowell Farms (CSE: LOWL) (OTCQX: LOWLF) Investor Dashboard
Formerly Known as Indus Holdings, Inc.
|Market Focus:||United States|
|Employees:||~300 (October 2020)|
Lowell Farms – Management Team
CEO and Co-Founder
Mark Ainsworth oversees all manufacturing functions, including procurement and distribution. He brings to the company substantial experience in food manufacturing and distribution operations. In 2006, Mr. Ainsworth founded Pastry Smart, the first and only American Humane Certified and Organic bakery and confectionery manufacturer in the United States. Under his direction, Pastry Smart expanded into a 40,000 square foot state-of-the-art, energy-efficient production facility. Mr. Ainsworth has consulted with several Fortune 500 companies, and developed items at Pastry Smart that are still being sold by retailers such as Whole Foods Markets and Costco Wholesale. He has been a member of the American Culinary Federation since 2013.
Chief Product Officer
Mr. Dunmire was the Senior Vice President of Strategy with the company when it operated under the name Indus Holdings. He helped to oversee the Lowell Farms acquisition, and now, he serves as Chief Product Officer. He has extensive experience in the cannabis industry. Mr. Dunmire has held roles including Chief Development Officer for Geronimo Capital and Director of M&A and Corporate Strategy for Acreage Holdings. He has also held leadership roles with companies like ZX Ventures, an arm of Anhueser-Busch InBev, and American Express.
Chief Financial Officer
Brian Shure is an Lowell Farms board member and chairman of its audit committee. He is a disciplined financial manager with more than two decades of experience in portfolio management and business operations. Shure will apply his talent in his role at Lowell to continue guiding the company to success. He has previously served as the President of Ambrose Capital Partners and CFO of MedData. Additionally, Shure serves on the board of the Prevent Cancer Foundation.
Chief Revenue Officer
Mr. Lawrence brings more than 25 years of leadership experience in the cannabis, retail, and financial technology solutions sectors to Lowell Farms, Inc., and will oversee all revenue streams for the organization, including marketing and sales operations. Mr. Lawrence most recently served as Vice President of Sales, Field Marketing, and Distribution for Flora California, Inc., one of the state’s largest licensed cannabis operators. Tasked with overseeing all purchasing, sales, distribution, and marketing for the organization, Mr. Lawrence oversaw the naming, branding, packaging, and marketing of the highly successful Sessions Supply Co. brand, increasing revenue to $500,000 within 100 days. As an entrepreneur, Mr. Lawrence co-founded California-based cannabis brand Crown Public in 2011, managing daily operations including compliance, purchasing, marketing, branding, sales, account management, accounting, and logistics; growing the organization to $14 million in revenue prior to leaving in 2018.
Chief Operating Officer
Ms. Montenegro previously served as Vice President of Commercialization, where she was responsible for planning and managing the timeline of launch of brand products into the market. This led the company stage gate process for the development of products in edible, topical, and extraction manufacturing of its THC and Hemp-CBD divisions. In addition, she served a critical role in shifting the company’s culture to one that is margin and KPI-driven.
Prior to joining Lowell Farms, Ms. Montenegro served as the Founding Vice President of Consumer Packaged Goods and Operations where she developed a five-year strategic plan focused on establishing priorities and growth. She also aligned objectives and market potential, created annual operating and capital expenditure budgets, led implementation of their online business channel, and developed and executed marketing promotions to drive in house and online sales. In addition, Ms. Montenegro served as a buyer at Costco Wholesale after working her way through the ranks. During her tenure, she was responsible for buying, budgeting sales, and managing inventory, with over $1 Billion in annual sales in 53 Northern California locations.
Chief Compliance Officer
As Chief Compliance Officer, Mr. McMillan is responsible for ensuring Lowell Farms is operating within the boundaries of California’s evolving cannabis regulations, which affect everything from cultivation to packaging. Additionally, he works alongside law enforcement, advocacy and trade partners; as well as politicians and policy makers at multiple levels of government.
Mr. McMillan began his law enforcement career in 1984 as a deputy within the San Benito County Sheriff’s Department. In 1986, he transferred to the San Diego County Sheriff’s Department, and then to the Salinas Police Department in 1988. In Salinas, Mr. McMillan held the ranks of Officer, Corporal, Sergeant, Lieutenant, Commander, and Deputy Chief before he was appointed Chief of Police in June 2012. As Chief, he served as a board member of the California Cities Violence Prevention Network and a representative to the U.S. Department of Justice’s National Forum on Youth Violence Prevention.
As an actively engaged Chairman of Lowell Farms, Mr. Allen is a seasoned executive with extensive financing and transaction experience having built multiple companies through a combination of organic and acquisition-driven growth. He has recruited operating teams and shaped strategy in several competitive and dynamic industries. Most recently, George Allen was President of Acreage Holdings, Inc. a cannabis multi-state operator. Mr. Allen joined Acreage’s predecessor company in 2017 and lead the transition from a 5-employee investment vehicle into a vertically integrated company with centralized operations. During his tenure Mr. Allen was responsible for multiple financing rounds, a complex roll-up, dozens of acquisitions, executive recruiting and an initial public offering. Immediately prior, George Allen was Chief Investment Officer of Cambridge Information Group (CIG) a large family office with a focus on digital content. At CIG, George managed a portfolio of private and public direct investments as well as a collection of indirect investments. He also recruited and trained a team to build an internally managed hedge fund focused on global growth equities. From 2011 to 2014 Mr. Allen led an acquisition-driven restructuring of Blucora (NASDAQ: BCOR) into a leading provider of wealth management and tax software. Prior to Blucora, Mr. Allen spent nine years at Warburg Pincus, managing investments in the communication, media and technology sectors, and Goldman Sachs in New York and Hong Kong, where he invested capital in distressed securities. Mr. Allen holds a Bachelor of Science degree in Mechanical Engineering from Yale University.
Significant Insider Ownership
George Allen, Chairman:
$11.4 million convertible debentures, 57.14 million warrants
Mark Ainsworth, CEO and Co-Founder:
1.43 million shares, 550K options and 45K restricted shares
Stephanie Harkness, Director:
1 million shares, 423K warrants, 10K options and 50K restricted shares
William Anton, Director:
632K shares, 246K warrants, 10K options and 50K restricted shares
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