Cannara Biotech names Nicholas Fozard as chief financial officer

Montreal - Cannara Biotech Inc., a cannabis company listed on the TSX and OTCPX exchanges, has announced the appointment of Nicholas Fozard as its new Chief Financial Officer (CFO). The official start date for Fozard's role will be contingent upon obtaining the necessary Health Canada security clearance, a requirement for company officers and directors.

Fozard will be replacing Nicholas Sosiak, who had been CFO since 2020 before being appointed Chief Operating Officer (COO) on April 23, 2026. During Sosiak's interim role as CFO, he continued to oversee the company's operations while they searched for a permanent CFO.

Fozard's career in finance began at PwC, where he started his professional journey. He later worked at Organigram Global as Vice President of Finance and at iAnthus as Senior Vice President of Finance. At iAnthus, Fozard played a crucial role in the company's expansion into a U.S. multi-state cannabis operator. Before joining Cannara, Fozard had built a strong background in the industry, holding relevant designations such as CPA (Certified Professional Accountant) and an MBA from the Kellogg-Schulich Executive MBA Program.

He also holds a Global Professional Master of Laws from the University of Toronto and an Honours Bachelor of Commerce from McMaster University.

The appointment of Fozard completes a leadership transition announced by Cannara on May 6, 2026. Sosiak will now fully transition into his newly appointed Chief Operating Officer (COO) role, working alongside Fozard to facilitate the handover of CFO responsibilities. Cannara Biotech operates two facilities in Quebec, covering a total of over 1,600,000 square feet, and is known for its vertically integrated production of cannabis products.