Adnant Concepcion Acquisition Corp.

Underwriter: WestPark Capital
External link: SEC Filings



Sabas Carrillo, our Director, Chairman and Chief Executive Officer , is the Founder and CEO of Adnant, LLC, an accounting and consulting firm focused on the cannabis industry with an expertise in advising companies on the go-public process. Mr. Carrillo has over 18 years of experience in accounting and over 12 years of experience working exclusively with start-ups, having helped found, grow, and lead companies through successful exits. He focuses on creating and taking public innovative companies with high growth potential. Mr. Carrillo is an SEC financial reporting expert with extensive experience in M&A work. He serves as Interim CFO for Cookies Creative Consulting & Promotions Inc. and was on the go-public team for Weedmaps and General Cannabis, Inc., a publicly traded company (OTC: CANN) from 2010 to 2012. In 2014, Mr. Carrillo led the team that took the first cannabis dispensary public, Blüm Oakland, on behalf of Terra Tech Corp. (OTC: TRTC). Mr. Carrillo is co-founder and CFO of two cannabis-focused funds: Mesh Ventures and 1212 Ventures. Among his advisory roles to companies and brands in the industry, Mr. Carrillo’s client list includes MedMen, GlassHouse Group, Loudpack, GTI, NorCal Cannabis Company, Beboe, Acreage Holdings, Verano Holdings and Grass Lands (first cannabis licensed concessions at a venue). Passionate about working with non-profits such as Las Fotos Project, Downtown Women’s Center, The Good Shepherd Center, and Brilliant Corners, Mr. Carrillo is also the founder of Alta Loma Group, LLC, a real estate holding company on a mission to provide quality affordable housing in South Central Los Angeles. Mr. Carrillo received his B.A. in Economics with a minor in computer programming from the University of California, Los Angeles.

Cathy Ong, our Director and Chief Financial Officer has over five years of accounting experience, providing financial statement audit services to private and public companies in the manufacturing, distribution, technology, and automotive industries and advisory and consulting services in the cannabis industry. She currently serves as an Accounting Manager at Adnant LLC. Since joining Adnant in 2018, Ms. Ong has worked with cannabis businesses from start-ups to multi-state operators, primarily focusing on accounting for complex transactions and financial reporting, including those subject to CSE and SEC filing requirements. Ms. Ong serves as an advisor to financial executives within the industry and an active liaison with stakeholders, executives, attorneys, auditors, and other parties involved in the public filing process. Her focus is on helping clients navigate through unique accounting scenarios in the cannabis industry and setting the precedent in accounting interpretation for industry participants. She is an advocate of challenging industry norms, having left public accounting to join Adnant and trailblazing a career in the cannabis industry. Ms. Ong holds a Bachelor of Science degree in Business Administration with an option in Accounting from California State University, Long Beach.

Robert Baca, our Director, Vice President and Secretary has over a decade of experience as a corporate attorney and consultant navigating Private Equity M&A and Leveraged Finance transactions for clients while at institutions including Kirkland & Ellis LLP, Paul Hastings LLP, and Goldman Sachs. He has represented U.S. and foreign financial institutions including JP Morgan Chase, Bank of America, Morgan Stanley, Barclays, UBS, and RBC, private equity sponsors including KKR, Warburg Pincus, Blackstone, and Saw Mill Capital, and public and private companies in connection with mergers and acquisitions, securities offerings, and commercial financings including secured and unsecured credit facilities and acquisition financings. Before joining Adnant LLC in 2020 he spent three years overseeing the licensing and compliance efforts of cannabis operations in Northern California including retail, manufacturing, distribution, and cultivation companies during the turn of adult-use legalization in the state. He also served as Executive Director of the Sacramento Cannabis Industry Association working closely with state and local regulators, stakeholders, and key community constituencies including neighborhood and business associations, business owners, and residents. He now serves as General Counsel to Adnant LLC and participates in the leadership of their Strategic Initiatives department. Mr. Baca graduated with a BA from Dartmouth College with honors, a JD from the University of Chicago Law School, and a Master of Science in Finance from Indiana University’s Kelley School of Business. He is a licensed member of the State Bars of New York and California and is an adjunct professor of law at the University of the Pacific's McGeorge School of Law teaching Marijuana Law.

Jaime Nava, our Vice President and Treasurer has over five years of operational accounting and management experience in the cannabis industry having built the accounting and finance infrastructure for over 50 dispensaries and cultivations in California and advised on the same for public cannabis multi-state operators. He is a pioneer in cannabis banking and compliance having guided key constituencies in the development and launch of cannabis related business account and compliance pilot programs for both national financial institutions and local federal credit unions. Mr. Nava has also provided extensive support for cannabis focused investment fund development, strategy, capital deployment, and investor relations. At Adnant, LLC he provides advisory and consulting services for cannabis companies and investment funds particularly related to their accounting, banking, and management policies and operating procedures. Prior and current clients include Cookies, AmericannMade, 1212 Ventures, and Mesh Ventures. He has focused principally on helping industry clients navigate and execute early stage and enterprise hypergrowth strategies. Mr. Nava holds a Bachelor of Science degree in Biology from California State University, San Bernardino.