LONDON: Greencare Capital Plc announced the appointment of Richard Tonthat as Chief Executive Officer with immediate effect, a news release said.
Fabio Carretta, whilst stepping down from the Board to spend more time on his other business interests, will continue to support the Company, particularly in relation to capital market activities.
The Company also announces that Nicholas Lee, a non-executive director, has been appointed as Non-executive Chairman with immediate effect.
Mr Tonthat qualified as a Chartered Accountant with PricewaterhouseCoopers and is an experienced corporate financier and investment adviser with recent experience in the cannabis sector. Prior to joining Greencare, he was an independent consultant advising on M&A, debt financing and equity investments. During this time, he worked with British American Tobacco plc on a number of transactions, including a C$221million equity investment into a listed Canadian cannabis licensed producer.
Previously he was a Director in the Corporate Finance team at Grant Thornton where he managed a portfolio of public company clients and had a proven track record of delivering multiple M&A, IPO, debt and private equity fundraising projects.
Commenting on Mr Tonthat’s appointment, Greencare Chairman, Nicholas Lee said: “I am pleased to welcome Richard to the Greencare Board. His transaction experience and investment advisory background, combined with direct experience of the international cannabis market will be of great benefit to the Company as we continue to build our investment portfolio.”
“I would also like to take this opportunity to thank Fabio Carretta for his stewardship of the Company since its flotation in December 2019 and I am pleased that he will also be able to continue to support the Company whilst he focuses on his other business interests.”
Greencare Capital plc is an investment company quoted on the Aquis Stock Exchange Growth Market (“AQSE”). The Company was incorporated on 1 October 2019 and its shares were admitted to trading on 30 December 2019.