Peter Bilodeau is a serial entrepreneur with extensive leadership experience across many sectors, including the cannabis industry, merchant and investment banking, retail, manufacturing, real estate, and oil & gas. He is President and CEO of Foundation Markets Inc. and FMI Capital Advisory Inc. Prior to launching his entrepreneurial career, Peter worked for one of Canada’s major chartered banks quickly advancing to the senior management ranks. Peter is a former real estate appraiser with extensive experience in various types of real property valuation. Mr. Bilodeau’s business prowess is frequently called upon through his finance and consulting business and as a member of the Board of Directors of several companies.
Full birth name: Peter Bilodeau
Title: Interim CEO
Company: Harborside Inc.
Years at current company: 1
Education profile: Peter has a Masters Degree in Business Administration, with a specialty in Financial Services, from Dalhousie University, Halifax, Nova Scotia, Canada.
Most successful professional accomplishment before cannabis:
Over the years, Peter has assisted multiple clients in various business sectors, including cannabis, retail, manufacturing, agriculture, and the resources sectors, with financing requirements as well as management and consulting mandates, often assisting in pushing companies past their operational roadblocks and helping them achieve their business goals. Most recently, Peter helped Quinsam Capital Corporation through their transition to a focus on cannabis, raising roughly $15M in financing and serving as President and director before resigning to dedicate his time fully to Harborside.
Harborside’s mission is to be the preeminent retailer of cannabis products in the markets in which we serve by providing quality cannabis at affordable prices: quality, choice and trust. Since day one in 2006, we have taken pride in staying steadfast to our mission of taking an individual approach with each patient, providing them with knowledge, transparency and a variety of options to make the best decision for their own needs.
Company’s most successful achievement:
As one of the first six dispensaries in California, Harborside’s history is full of firsts and we are proud to be known as industry trailblazers. In 2019, we opened the first and only recreational drive-thru in California at our Desert Hot Springs location. We are also extremely proud of our Harborside Farms facilities in Salinas, where we cultivate our own quality-tested, craft cannabis for our in-house brands as well as others in the California market, allowing us to become a successful vertically integrated company and maximizing returns.
Our fourteen years of operations have been filled with multiple victories, not only for the company itself but also for the industry as a whole. One monumental industry win was our 2016 victory over the federal government, with the forfeiture of their five year-long attempts to seize Harborside’s leased premises in Oakland as part of their crackdown on the California medical marijuana industry.
Has the company raised any capital (yes or no): Yes
If so, how much?: Over several financings throughout the years, we have raised over USD $42M to date.
Any plans on raising capital in the future? We will announce more on this topic in the months ahead after a strategic review, which is currently underway, and the installment of our new board.
Most important company 5-year goal: Our goal is expansion across the board – from our California retail and wholesale footprints to our in-house brand presence and brand offerings. Ultimately, we want to maximize and reap the benefits of vertical integration and in turn, maximize our stakeholder value.