OAKLAND, Calif. – Harborside Inc. (“Harborside” or the “Company”) (CSE: HBOR), (OTCQX: HBORF) a California-focused, vertically integrated cannabis enterprise, today announced that Peter Bilodeau has been asked to step down from his role as Interim Chief Executive Officer (“CEO”) effective immediately, and Matt Hawkins, Chairman, will assume the position of Interim CEO while the Company completes its search for a successor. In addition, Ahmer Iqbal, former CEO of Sublime, has been appointed Chief Operating Officer of Harborside.
“Since implementing our turnaround plan in November of last year, our team and the entire board of directors have worked to ensure that Harborside has a strong foundation to take on the immense opportunity ahead in the California cannabis market,” said Matt Hawkins, Chairman, and Interim CEO of Harborside. “While our work is not yet done, we have made great progress in a short period of time, adding an iconic consumer brand to our portfolio, expanding our cultivation capacity, and building a solid balance sheet to support our growth. On behalf of the entire team, I’d like to thank Peter for his contributions during his time with Harborside.”
Mr. Hawkins added, “Having worked with Ahmer and seen the incredible job he did over the past several years to build Sublime into one of the leading brands in California, we are confident that his deep experience in technology, operations, manufacturing and supply chain logistics will be instrumental as we scale our operations.”
Ahmer Iqbal, Chief Operating Officer, added, “Since joining the team, I’ve been impressed with both the quality of operations and scale of the operations. Harborside has tremendous untapped potential and I’m extremely excited about the Board’s vision to expand our California operations. I look forward to working collaboratively with our management team, board and future CEO, to leverage Harborside’s strong retail and consumer brand positioning, and continue to build Harborside’s reputation as the preeminent California focused cannabis company.”
Harborside Inc. is one of the oldest and most respected cannabis retailers in California, operating three of the major dispensaries in the San Francisco Bay Area, a dispensary in the Palm Springs area outfitted with Southern California’s only cannabis drive-thru window, a dispensary in Oregon and a cultivation/production facility in Salinas, California. Harborside distributes its portfolio of brands, including Sublime, Harborside, and Key, to over 500 dispensaries within California. Harborside has played an instrumental role in making cannabis safe and accessible to a broad and diverse community of California consumers since 2006, when it was awarded one of the first six medical cannabis licenses granted in the United States. Today, the Company holds cannabis licenses for retail, distribution, cultivation, nursery, and manufacturing. Harborside is a publicly listed company on the Canadian Securities Exchange (“CSE”) trading under the ticker symbol “HBOR” and on the OTCQX Best Market under the ticker symbol “HBORF”. Additional information regarding Harborside is available under Harborside’s SEDAR profile at www.sedar.com