MONTREAL, Sept. 01, 2026 (GLOBE NEWSWIRE) -- Cannara Biotech Inc. (“Cannara”, the “Company”, “us” or “we”) (TSX: LOVE) (OTCQX: LOVFF) (FRA: 8CB0), a vertically integrated producer of premium-grade cannabis products at affordable prices with two mega facilities in Québec spanning over 1,600,000 sq. ft., today announced the appointment of Nicholas Fozard, CPA, as Chief Financial Officer. Mr. Fozard's appointment as CFO will take effect upon his receipt of the Health Canada security clearance required of all officers and directors of the Company.
“We are pleased to welcome Nicholas Fozard to Cannara,” said Zohar Krivorot, Founder and Chief Executive Officer of Cannara. “His extensive cannabis-sector finance experience, combined with his background in public-company reporting, manufacturing finance, capital markets and transactions, makes him a strong addition to our leadership team. As Cannara continues to scale its operations and pursue growth opportunities in Canada and internationally, his financial leadership will support disciplined execution and long-term value creation. I would also like to thank Nicholas (Niko) Sosiak for his leadership of our finance function throughout the search and for ensuring continuity as he assumes his responsibilities as Chief Operating Officer.”
“Nicholas brings more than a decade of cannabis finance leadership experience across Canada and the United States, together with broad expertise in public-company reporting, manufacturing finance, capital markets, treasury, mergers and acquisitions, and internal controls,” said Niko Sosiak, Chief Operating Officer of Cannara. “His experience will be a valuable addition to Cannara as I transition fully into the Chief Operating Officer role, leading Cannara's operational and commercial growth priorities.”
Prior to joining Cannara, Mr. Fozard served as Vice President, Finance at Organigram Global and Senior Vice President, Finance at iAnthus, where he was instrumental in scaling the company from its inception into a U.S. multi-state cannabis operator. He began his career at PwC.
Mr. Fozard holds a CPA designation, an MBA from the Kellogg–Schulich Executive MBA Program, a Global Professional Master of Laws from the University of Toronto, and an Honours Bachelor of Commerce from McMaster University.
“Cannara’s growth trajectory has been impressive, with a differentiated cannabis platform supported by a strong team, focused brands and a disciplined operating model that has demonstrated its scalability through consistent execution quarter after quarter,” said Nicholas Fozard. “I am excited to join the Company at this pivotal stage of its growth and work with the team to capitalize on Cannara’s momentum, help drive its expansion across Canada and internationally, and create long-term shareholder value through disciplined, strategic capital allocation.”
The appointment completes the leadership transition announced by Cannara on May 6, 2026. Mr. Sosiak, who served as the Company’s Chief Financial Officer from 2020 until his appointment as Chief Operating Officer on April 23, 2026, has continued to serve as interim Chief Financial Officer during the search. Mr. Sosiak will now transition fully into his role as Chief Operating Officer and will work closely with Mr. Fozard to support a seamless handover of Chief Financial Officer responsibilities.
CONTACT
Scott Carroll, PhD, MBA
Vice President, Investor Relations & Commercial Strategy
scott.carroll@cannara.ca
ABOUT CANNARA
Cannara Biotech Inc. (TSX: LOVE) (OTCQX: LOVFF) (FRA: 8CB0), is a vertically integrated producer of affordable premium-grade cannabis and cannabis-derivative products. Cannara owns two mega facilities based in Québec spanning over 1,600,000 sq. ft., providing the Company with 100,000 kg of potential annualized cultivation output. Leveraging Québec’s favourable energy costs, Cannara maintains an efficient, low-cost production model. For more information, please visit cannara.ca.
