Joe Hodas to Succeed Nancy Whiteman as CEO of Wana Brands

BOULDER, Colo. – Nancy Whiteman, co-founder and CEO of Wana Brands, Mountain High Products, LLC, Wana Wellness, LLC and The Cima Group, LLC (collectively, “Wana”) will be stepping down from her day-to-day role at the end of May 2024 to pursue philanthropic activities and other interests. This move follows an incredible founder story that saw Wana rise from a kitchen creation to its position as one of the leading edibles brands in North America.

Fortunately, Nancy will not be going far; she will continue to be involved in the future of Wana and the industry through her role as a member of the Board of Managers leading Canopy USA. In this capacity, Nancy will help drive Canopy USA’s strategy, as well as the integration and future growth of the companies within the Canopy USA ecosystem, including Wana Brands, Jetty Extracts, and Acreage Holdings.

Nancy will be succeeded by Joe Hodas, Wana’s current CMO, a four-year veteran of the company and 12-year veteran of the legalized industry. Joe, along with Wana’s industry-defining leadership team, are ideally positioned to lead Wana into the future as it looks to expand its domestic presence across the East Coast while also breaking new ground in international markets such as Switzerland.

In addition to her role as a member of the board of Canopy USA, Nancy will remain in an active role with the Wana Brands Foundation (WBF), which she created in 2022 and is one of the largest cannabis-related philanthropy funds to date. With its clearly stated mission to enhance our world by giving people the resources they need to live happy, healthy lives, WBF was initiated with a $50 million grant from Nancy. To date, the foundation has distributed almost $5 million dollars across philanthropic efforts addressing research, food security, shelter, safety, mental health, sustainability, human connection and social justice.

“This transition has been in the works for a while, and after almost 14 years since co-founding Wana in 2010, I’m stepping down from my day-to-day role as Wana’s CEO. I’m thrilled that Joe Hodas will be taking my place at the helm of Wana. While it is never easy for a founder to step away from the company they started, I’ve got full confidence that Joe and our Wana leadership team are well-positioned to continue Wana’s growth. I also look forward to staying connected through my role on the Canopy USA board of managers.”

“I am looking forward to being able to devote more time to the Wana Brands Foundation. While we have already made almost $5 million in donations to over 150 organizations, I’m excited to learn more about the issues that the Foundation supports so we can increase our impact and be more effective in making the world a better place.”

–Nancy Whiteman, Co-founder and CEO Wana Brands

“To say it is equal parts exciting and intimidating to fill some of the largest shoes in cannabis would be a gross understatement. I am so honored and privileged to have been part of Wana’s history, learning from Nancy and being inculcated in her vision, and to now be tapped to take that vision into the future. I also greatly appreciate the leadership team she assembled, with whom I’ve been working for several years, as I know them to be the most talented, hard-working and visionary leaders in cannabis or any industry. My commitment to Nancy and to the entire Wana team is that I will always honor the legacy and integrity of our mission to enhance lives and communities with our products and our actions. And unfortunately for Nancy, I have her cell number saved in my favorites!”

–Joe Hodas, President, Wana Brands

About Wana Brands

With North America’s largest distribution footprint, cannabis edibles producer Wana Brands is a top international brand available in 17 U.S. states, the U.S. territory of Puerto Rico and nine Canadian provinces and territories, generating close to $300 million in retail sales annually across more than 3,000 dispensaries. Through industry-leading innovation, Wana is developing cutting-edge use-case formulations and recipes, such as Wana Quick Fast-Acting Gummies, the top-selling quick-onset edible, and the Optimals Fast Asleep formulation. Wana is committed to the communities it serves by supporting more than 50 charitable organizations in the markets where the company operates.

Background on Canopy Growth Acquisition and Canopy USA

In 2021, agreements were announced that would enable Canopy Growth to acquire 100% of the outstanding membership interests of Wana as part of Canopy Growth’s strategy for fortifying its U.S. ecosystem and establishing a leading presence in the edibles category across North America. Further to this, on October 25, 2022, Canopy Growth announced a strategy to accelerate its entry into the U.S. cannabis industry and unleash the value of its full U.S. cannabis ecosystem through the creation of a new U.S.-domiciled holding company, Canopy USA, LLC. Canopy USA holds the Company’s U.S. cannabis investments, which will enable it to exercise rights to acquire Acreage Holdings, Inc., Mountain High Products, LLC, Wana Wellness, LLC and The Cima Group, LLC and Lemurian, Inc. (Jetty). Following Canopy Growth’s shareholder vote which took place on April 12, 2024, Canopy USA is positioned to advance with completing the acquisitions of Wana, Jetty, and Acreage with the intention to leverage the best of each brand’s offerings to accelerate growth and market expansion as key states across the country continue to allow recreational cannabis usage, realizing value in the near term.