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Cannaray recruits former JPMorgan exec ahead of public listing

Cannaray recruits former JPMorgan exec ahead of public listing

CBD and medical cannabis company Cannaray has announced the appointment of JPMorgan managing director Stanton McLean.

McLean joins in the role of executive advisor and will focus on strategic growth, capital markets initiatives and business development ahead of the company’s public markets listing scheduled for later this year.

He played a pivotal role in growing JPMorgan’s loan distribution platform during his 25-year tenure.

Cannaray CEO, Scott Maguire, said:

“We are pleased to welcome Stanton to the team at Cannaray.

“Stanton is a leader who brings a wealth of unique experiences, partnerships and relationships in the global capital markets that will benefit our continued strategic growth and vision, particularly as we look to list Cannaray on the public in the next 12 months.”

European CBD sales are projected to reach £6.9 billion by 2028, McLean said, with medical cannabis growing to £17 billion, up from £215 million in 2020.

Europe is ‘clearly poised for significant growth,” McLean said.

“As consumers become more educated with regards to the health benefits of cannabis wellness products, it was clear to me that this was an ideal time to embark on a new challenge with enormous potential.

“I couldn’t be more excited.”

Stanton McLean, Cannaray

Cannaray filled its first medical cannabis prescription free of charge in February 2020 for three-year-old Jorja Emerson.

Jorja was denied treatment on the NHS which forced her father Robin to travel from Dundonald in Northern Ireland to access treatment in London at a cost of €1,000 per month.

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