Texas Original Compassionate Cultivation Hires Steven Yoo as Chief Financial Officer

Rhea-AI Summary

Texas Original Compassionate Cultivation announced the appointment of Steven Yoo as Chief Financial Officer effective October 1, 2021. With over a decade of experience in the cannabis industry, including previous roles at Tilray and Subversive Capital, Yoo will lead TOCC’s financial operations. His expertise is expected to enhance financial planning and support the company’s expansion efforts, including a new cultivation facility in Bastrop, Texas, slated for completion in the first half of 2022.

Positive

• Steven Yoo's extensive experience in financial operations and the cannabis sector supports TOCC's growth strategy.
• Yoo's leadership is anticipated to enhance supply chain processes and long-term capital strategies.
• The new facility in Bastrop will likely increase production capacity and meet the rising demand for medical cannabis.

Negative

• Concerns may arise regarding the continuity and experience gaps with Yoo's transition into the CFO role.

Cannabis and financial executive joins Texas’ leading medical cannabis provider to spearhead financial operations amid the company’s expansion

AUSTIN, Texas--(BUSINESS WIRE)-- Texas Original Compassionate Cultivation (TOCC), Texas’ leading medical cannabis provider, today announced Steven Yoo will join the company as chief financial officer on Oct. 1, 2021.

Yoo, who previously served as an executive at Tilray, Inc. (NASDAQ:TLRY) and as a principal at Subversive Capital, brings more than a decade of experience in international expansion, strategic M&A, consulting and private equity, particularly across the evolving cannabis industry.

“Steven brings a wealth of knowledge from both the cannabis and financial sectors to Texas,” said Morris Denton, CEO of TOCC. “We’re delighted he is joining the TOCC team during this exciting phase of growth for our company and the state’s medical cannabis market. Steven’s extensive cannabis and financial experience, particularly during the early days of Canada’s expansion, is a game changer for TOCC and adds significant horsepower to an already exceptional team. As more Texans register for the recently expanded Compassionate Use Program, Steven’s expertise will enable us to optimize our strategic financial planning and execution so we can continue serving more patients in more places throughout the state.”

Yoo’s primary responsibilities in his new role will be to lead TOCC’s overall financial operations including executing growth strategies, amplifying and improving supply chain processes and executing TOCC’s long-term capital strategy. He will also oversee the financial planning of the company’s expansion to Bastrop, Texas. The new cultivation and processing facility is slated to be completed in the first half of 2022.

“Texas is the most exciting state in the country for cannabis right now with an unmatched upside in the medical cannabis market,” said Yoo. “I’m thrilled to join TOCC, a company leading the charge in providing the highest quality medicine to patients throughout the state. I’m looking forward to helping guide TOCC through this high-growth phase while connecting patients in every corner of Texas with the best products.”

Prior to joining TOCC, Yoo served as vice president of corporate development at Tilray and as a principal at Subversive Capital LLC. Yoo entered the cannabis space in 2015, when he joined Privateer Holdings, the first institutionally backed venture firm to focus on the cannabis space. Yoo earned his bachelor’s degree in business administration from the University of Washington.

TOCC’s gummies, tincture and lozenge products are available for statewide delivery at www.texasoriginal.com, at their dispensary in Austin, Texas, and through the company’s convenient patient pick-up locations in North Austin, Dallas, Houston and San Antonio. To learn whether you or a loved one qualifies for medical cannabis, visit www.texasoriginal.com/patients.

About Texas Original Compassionate Cultivation

Texas Original Compassionate Cultivation (TOCC) is the leading licensed medical marijuana producer in Texas, working alongside physicians to provide the highest quality cannabis medicine to patients and families seeking relief across the state. As fellow Texans, we are dedicated to representing the integrity of this great state with our commitment to quality, consistency and purity in every product we produce. We remain committed to advancing safe, legal access to this powerful medicine. TOCC is headquartered in Austin, with delivery throughout the entire state. For more information, visit www.texasoriginal.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210929005284/en/

Emma Chase

emma@redfancommunications.com

512-917-4319

Source: Texas Original Compassionate Cultivation

FAQ

Who is Steven Yoo and what is his role at Texas Original Compassionate Cultivation?

Steven Yoo has been appointed as Chief Financial Officer at Texas Original Compassionate Cultivation, effective October 1, 2021. He brings over a decade of experience from Tilray and Subversive Capital.

What are Steven Yoo's responsibilities at TOCC?

Yoo will oversee TOCC's financial operations, focusing on growth strategies, supply chain improvements, and long-term capital planning.

What expansion plans does Texas Original Compassionate Cultivation have?

TOCC is expanding with a new cultivation and processing facility in Bastrop, Texas, expected to be completed in the first half of 2022.

How does Steven Yoo's experience benefit TOCC?

Yoo's background in the cannabis industry and financial operations is expected to optimize TOCC's strategic planning and execution during its growth phase.