NewLake Capital Strengthens Board with Dina Rollman's Addition
NewLake Capital Partners Welcomes Dina Rollman
NewLake Capital Partners, Inc. (OTCQX: NLCP), a prominent provider of real estate capital to state-licensed cannabis operators, is excited to announce the recent appointment of Dina Rollman to its Board of Directors. This strategic move aims to bolster the company’s leadership as it continues to thrive in the evolving cannabis landscape.
Transitioning Leadership on the Board
The Board's expansion to eight members serves as part of a thoughtful transition plan as the company prepares for the anticipated retirement of Mr. Peter Kadens. Mr. Kadens has been a significant part of NewLake since its inception in 2019, and his decision to step aside is rooted in a commitment to fostering new ideas and perspectives. The Annual Meeting of Stockholders in June 2025 will mark his departure from the board, making way for new leadership.
The Value of Fresh Perspectives
Peter Kadens expressed his pride in NewLake's journey, having witnessed its growth over five impactful years. He recognizes the importance of not holding board positions indefinitely, emphasizing the need for fresh voices to contribute to the company's future. Kadens has great respect for Rollman, noting her extraordinary capabilities and readiness to take on this crucial role.
Company Leaders Express Confidence
Gordon DuGan, Chairman of the Board, also shared his thoughts, lauding Kadens's invaluable contributions to NewLake's development. The confidence in Rollman’s experience in the cannabis industry assures the Board that her insights will significantly benefit the company. DuGan highlights the importance of Rollman's extensive background, recognizing her expertise as vital in navigating the current cannabis sector.
Dina Rollman's Contribution to NewLake
Dina Rollman's leadership extends beyond the boardroom, as she is currently the CEO and a Board member of Powr Plant Inc., the company behind StrainBrain, a cutting-edge AI technology utilized in the regulated cannabis market. Additionally, her co-founding role at KND Group, LLC, a law and consulting firm focusing on heavily regulated industries, showcases her deep commitment to the sector.
Prior to her tenure at Powr Plant, Rollman devoted nine years to Green Thumb Industries, where she not only provided regulatory compliance counsel but also served as Senior Vice President of Government Affairs. Her involvement was instrumental in the company’s rapid license expansion and its successful IPO in 2018.
Dividend Announcement
In tandem with the board announcement, NewLake's Directors revealed a fourth-quarter cash dividend of $0.43 per share of common stock. This reflects an annualized dividend of $1.72 per share, payable to stockholders of record on January 15, 2025, for those who held shares before the close of business on December 31, 2024.
About NewLake Capital Partners, Inc.
NewLake Capital Partners is an internally managed real estate investment trust dedicated to providing real estate capital to cannabis operators through various means, including sale-leaseback transactions and funding for tailored projects. The company proudly manages a portfolio encompassing 32 cultivation facilities and dispensaries, all leased on a triple-net basis.
Looking Ahead
The company continues to build a robust foundation in the cannabis market, aiming to create a sustainable and compliant environment for its business operations. As NewLake Capital grows, the incorporation of diverse and experienced voices on the Board, like that of Dina Rollman, will be integral to the company’s ongoing success.
Frequently Asked Questions
Who is the new member of the NewLake Board of Directors?
Dina Rollman has been appointed to the Board, bringing significant experience in the cannabis industry.
What is the recent dividend declared by NewLake Capital?
The Board declared a dividend of $0.43 per share for the fourth quarter of 2024.
When will the dividend be paid?
The dividend is payable on January 15, 2025, to stockholders of record as of December 31, 2024.
What is the primary focus of NewLake Capital Partners?
NewLake Capital partners with state-licensed cannabis operators, providing them with the necessary real estate capital.
What experience does Dina Rollman have in the cannabis sector?
Dina Rollman has extensive experience, previously working with Green Thumb Industries in regulatory roles and currently leading Powr Plant Inc.
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