First cannabis streaming company launched
May 8, 2017, Toronto – Chuck Rifici, through his private equity firm Nesta Holding Co. Ltd., is teaming up with industry heavyweights to introduce the world’s first cannabis streaming company, Cannabis Wheaton Income Corp.
The company has entered into agreements with 14 streaming partners in six provinces across Canada.
Under the terms of the streaming agreements, Cannabis Wheaton will provide financing and expert consultation to its streaming partners in exchange for minority equity interests in each streaming partner and an allocation of the streaming partner’s cannabis production yield at an agreed upon price.
Cannabis Wheaton’s streaming partners consist of licensed producers of cannabis (pursuant to the Access to Cannabis for Medical Purposes Regulations (or its predecessor)) (LPs) and late-stage LP applicants.
Along with Rifici, the management team includes: chief financial officer and chief operating officer Jeff Tung; chief creative officer Ian Rapsey; and chief infrastructure officer Brad McNamee.
“We’re proud to partner and support a wide range of cannabis cultivation companies each of which have distinct visions, voices and brand values,” says Rapsey. “However, we all share a common goal: to create a world class industry based on ethics, diversity, quality and innovation.”
The management team will also be served by an advisory board, including two of the top legal advisors in the Canadian cannabis industry, Hugo Alves and Mike Lickver of Bennett Jones LLP; one of Canada’s top cannabis security advisors David Hyde of David Hyde & Associates; one of Canada’s top technology venture capitalists Karamdeep Nijjar, partner at iNovia Capital (among Canada’s most prescient early-stage venture capital firms); Josh Kappel, partner at Vicente Sederberg LLC, one of the leading cannabis legal advisors in the U.S.; and Rick Dykstra current president of the Progressive Conservative Party of Ontario.
With diverse, specialized expertise in every vital aspect of the industry – from construction and cultivation to navigating the regulatory landscape – the Cannabis Wheaton management team targets and critically evaluates streaming partners with high-growth potential, and provides partners with the expert support to succeed in the dynamic cannabis industry.