A cannabis company with greenhouses in Pitt Meadows has appointed a new chief executive officer.
Mike Cosic has landed the role with Benchmark Botanics Inc. after a 21-month stint as chief financial officer at Meta Growth, a large Canadian cannabis retailer based in Toronto.
He will take over for the interim CEO, Terry Wang, who will continue to serve on the company’s board of directors.
Cosic said he will be getting a lay of the land over the course of the next month.
“My first priority is getting to know our team members, their roles and responsibilities, complete an assessment of all of our assets/ properties, and prepare a business plan to maximize shareholder value,” he said.
In March the company announced it was facing liquidity issues, and noted it would be exploring options including – increasing its sales from inventory, cutting operating costs, restructuring its operations, and undertaking an equity and/or debt financing – to address them.
In addition to its Pitt Meadows facilities, Benchmark also operates out of Peachland, B.C. where it is set up to focus on cultivation and production, propagation, cloning, storage, and research and development, including genetic enhancements.
Employees at the Peachland facility joined the United Food and Commercial Workers International Union at the end of March.
Growing and cultivation has been paused at the company’s Peachland location since November, 2020.
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