Multi-State Cannabis Operator Calyx Peak Companies Appoints Former State Treasurer and Insurance Commissioner of California to Board of Advisors

LOS ANGELES, February 25, 2019 (Newswire.com) - Calyx Peak Companies, a multi-state cannabis operator, announces two additions to its board of advisors: John Chiang, former Treasurer of California, and Dave Jones, former Insurance Commissioner of California. 

“Both Chiang and Jones bring valuable experience in finance, law and insurance to our already diverse board of directors,” says Ed Schmults, CEO of Calyx Peak Companies. “They join the Calyx Peak team at a pivotal time as we execute our strategy to become a significant player in the California market. We look forward to leveraging their insight to help us achieve a dominant position in this rapidly evolving cannabis market – in California and across all our operating locales.”

John Chiang served as California’s 33rd State Treasurer, where he oversaw trillions of dollars in annual transactions, managed a $75 billion investment portfolio and was the nation’s largest issuer of municipal bonds. Acting as State Controller from 2007 to 2014, Chiang’s management decisions resulted in millions of taxpayers’ dollars saved. His audit programs identified more than $9.5 billion in fraud, waste and abuse in government systems, more than any Controller in California’s history. He served two terms, including three years as chair, on the Board of Equalization. 

“The full federal legalization of cannabis has the potential to positively impact safety protocol, banking regulations and access to better-quality product,” said Chiang. “During my time as State Treasurer, I chaired the Cannabis Banking Working Group (CBWG) to create inroads to better banking access for cannabis companies. I look forward to partnering with Calyx Peak Companies to build upon this work and move towards a definitive solution to legalizing cannabis on the federal level.”

Dave Jones joins Calyx Peak Companies' board of advisors with more than three decades of experience as a legal, public policy, public administration, legislative and regulatory professional. He is also a highly regarded pioneer and expert in the area of cannabis insurance. While serving as California’s Insurance Commissioner from 2011 to 2018, Jones developed and implemented a plan that made insurance available for California’s newly legalized cannabis businesses. This groundbreaking initiative led to many firsts for the nation, including the country’s first cannabis insurance filing from an admitted commercial insurance company, the first surety bond program for the cannabis industry, the first coverage for commercial landlords renting to cannabis businesses and the first standardized cannabis policy forms and program filed by the American Association of Insurance Services (AAIS). He was also the founding chair of the National Association of Insurance Commissioners (NAIC) Cannabis Insurance Working Group. 

“As more and more states legalize cannabis, a critical piece of the puzzle is an in-depth understanding of the cannabis market and the availability of insurance to mitigate potential risks in this new legal business sector,” said Jones. “I look forward to advising Calyx Peak Companies as they work to bring their expertise, professionalism, innovation and capacity to legalized cannabis markets throughout the United States.” 

About Calyx Peak Companies 

Calyx Peak Companies is a leading multi-state operator looking to lead the legal cannabis revolution. The company operates over 280,000 square feet of cultivation, extraction and distribution facilities across multiple states. Calyx Peak launched with a small investment in Nevada and quickly expanded to four states. It is also the proud partner of lauded cannabis brand Josh D Farms, founded by one of the originators of Los Angeles’ OG Kush movement and second-place finisher at The 2019 Emerald Cup in the Licensed Mixed Light Flower Category. Calyx Peak Companies continues to invest in its brands and operations in its drive to achieve a dominant position in the rapidly evolving cannabis market. For more information, please visit http://calyxpeak.com.

Source: Calyx Peak Companies