Steep Hill Announces Increased Funding From Merida Capital Partners and Changes in Leadership

BERKELEY, Calif., Aug. 27, 2018 /PRNewswire/ -- Steep Hill, the industry leader in cannabis testing and analytics in the U.S. and internationally, announced that one of its lead investors, Merida Capital Partners, has increased its stake in the company and has selected Dr. Andrew Rosenstein to assume the role of interim CEO for the company effective immediately. Dr. Rosenstein replaces Jmîchaeĺe Keller, who has retired for health reasons.

A highly respected physician from Maryland, with experience building and operating cannabis testing laboratories in two of the most regulated states in the U.S., Dr. Rosenstein has served on the Steep Hill Board and is a licensee of the company. He currently operates Steep Hill Maryland, Steep Hill Pennsylvania, and Steep Hill Washington, D.C.  Steep Hill Pennsylvania is fully ISO 17025 certified and the Maryland lab will be completing its accreditation process by the end of the month. Both labs combine state of the art science along with highly validated methods to ensure accurate results for the patients of both states.

As part of Merida's increased investment, Jeffrey Monat, a partner at Merida, has joined the Steep Hill Board of Directors.  He is joined by recently appointed board members Brett Finkelstein of Phyto Partners and successful entrepreneur and investor Stephen Finfer. In making the announcement, Mr. Monat said, "Merida is pleased to announce our increased investment and is eager to transition Steep Hill to a more operationally-focused company. We thank former CEO Jmîchaeĺe Keller for his leadership and vision in making the company a global leader in cannabis science and testing.  We are excited to bring Dr. Rosenstein's tireless passion for patient care and safety, his business experience and lab testing expertise to this important role."

Dr. Rosenstein, a board certified Gastroenterologist and the Chief of the Division of Gastroenterology at University of Maryland Saint Joseph Medical Center, has been recognized by Baltimore Magazine as a top physician in the Baltimore area and has an appointment as an Assistant Clinical Professor of Gastroenterology and Hepatology at the University of Maryland Medical Center. He served for 8 years as the Director of Quality Assurance for Saint Joseph Medical Center's Gastroenterology Division prior to becoming the Clinical Chief of Gastroenterology. 

"I'm honored to lead Steep Hill's extraordinary team of scientists and professionals during this transitional phase and look forward to continuing to lead the science of cannabis testing for our entire Steep Hill organization which includes our corporate owned labs in California, New Mexico and Washington State, our U.S. licensees in Alaska, Arkansas, Hawaii, Maryland, Oregon, Pennsylvania and Washington, D.C., and global licensees in Canada, France, Germany, Italy, Mexico, Spain, Switzerland, and the United Kingdom. We have worked hard to provide our customers with exceptional service and scientific integrity on the East Coast and we will continue to set the standard for science, service, and safety in all of our markets," said Rosenstein.

ABOUT STEEP HILL

Steep Hill is the world's leading cannabis science and technology company with significant footprints in lab testing, research and development, licensing, genetics and remote testing. Steep Hill's foundation was built on testing and analyzing medical and recreational marijuana to ensure compliance with public safety standards.  In 2008, Steep Hill opened the first commercial cannabis lab in the United States and has been on the cutting edge since its inception. Steep Hill is currently expanding throughout the United States, and globally. With the goal of helping the rest of the world adopt "best practices" in cannabis testing, the company also provides expert consulting services to legislators and regulators in many countries, states and municipalities around the world. Steep Hill: "Leading the Science of Cannabis. Globally." For more information, please visit: http://steephill.com

ABOUT MERIDA CAPITAL PARTNERS

Merida is led by a management team with a proven track record and nearly 100 years of combined experience making direct investments and helping to successfully drive value in operating companies. With decades of combined cannabis industry experience and success in founding cultivation operations in some of the most restricted states in the U.S., Merida's motto is: "Responsible Investing in the Emerging Cannabis Industry." For more information, please visit www.meridacap.com.

Contact:  Cathie Bennett Warner  |  cell: 415-420-1573  |  [email protected]

SOURCE Steep Hill Labs, Inc.

Related Links

http://steephill.com