Staff, Author at Green Market Report

StaffStaffSeptember 18, 2020
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8min690

Editors Note: This is a guest post. 

vape

We’ve all witnessed the epic expansion of the vaping market in recent years, with people of all ages joining in on the trend. It seems that no matter where you turn, there’s always that one a guy or a girl with a vape pod in any group of friends. 

Well, the increased popularity has caused quite a bit of a stir in the vaping industry, and there are a number of changes on the horizon. If you just want to buy vape juice online, get a colorful pod, and join the community, it’s a perfect time to do so.

Here are just some of the biggest trends that all you vapers, and soon-to-be vapers, can look forward to. 

Things Are Getting Smaller and More Efficient

Yeah, while our cell-phones have been getting bigger and bigger over the last decade, the vaping world has been hit by a shrink ray. Vape pens have gotten a lot slimmer, with some quite elegant models seen in the hands of Instagram fashionistas. 

Going with a smaller size doesn’t mean sacrificing all the power, though, as these compact devices are real workhorses. They’re easy to carry around, they have a perfect look for those who want to be a bit understated and classy, and they work just as well as their chunkier counterparts. 

Some people are even buying these slimmer models as a backup for their larger vape pods, something that they can just grab on a short trip to the store or when taking the dog for a walk. 

These tiny vape pens are also great summer accessories for the ladies, as there’s often not enough pocket space or handbag real estate for a large pod.     

A Whole Rainbow of Exciting New Flavors

In the past couple of years, the governments of several states were ready to crack down on vaping equipment, especially the more eclectic flavor mixes, fearing that they would get kids to start taking up the habit. However, this was shown to be a murky issue at best, as about 30% of high-school students reported that they tried two or more tobacco products.

 Be that as it may, the mere existence of different flavors didn’t make traditional cigarettes any more enticing than they already were, and having fun e-liquid flavors is not the issue here either. Luckily, with a lot of states backing away from draconic measures, we now have access to an amazing variety of blends. 

That’s great news for anyone experiencing vaper’s tongue, where the person gets so used to a certain flavor that the vape juice starts feeling bland and tasteless. The best cure is to switch things up, using different flavors, and there’s a ton of options now. 

Remote Access to Vape Pods

As of 2018, 87% of survey respondents said that they regularly used WiFi around the home. I’m willing to bet that the number is well into the 90% range by now, and it’s easy to see why. It’s incredibly convenient and allows for some cool IOT gadgets around the house as well.

It looks like the simple old vape pods and desktop vaporizers are offering WiFi connectivity as well. Some smart vaping devices now have apps that allow you to modify anything from nicotine content to the power output using your phone. The app can also keep track of your preferences and give you insightful analytics on your nicotine consumption. 

These cool little gadgets will be the perfect fit for both tech geeks who love the extra functionality and those who’ve been trying to quit smoking but never really kept track of how much they were smoking every day. Be on the lookout for new models, as this smart vaping trend has taken off big time in 2020.  

Tighter Quality Control

As we mentioned earlier, there have been raising concerns about the health implications of vaping, so the manufacturers have really tightened up their quality control. Another reason why we are now seeing higher quality products at even the more reasonable price points is all the competition on the vaping market

With the market expanding, new brands are popping up, and everyone is doing their best to please the consumers and build a solid reputation. 

The vaping industry is experiencing massive growth in this era of lockdowns and isolation, and the explosion in demand has caused the market to adapt. What this means for the users is more options in terms of e-liquid flavors, high-quality devices at lower prices, smart technology, and incredibly compact and elegant vape pens. 

It’s a great time to go away from cigarettes and go with fun flavors with much less nicotine, combined with a classy gadget that’s sure to turn a few heads. 


StaffStaffSeptember 17, 2020
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7min440

It’s time for your Daily Hit of cannabis financial news for September 17, 2020.

On the Site

MedMen

MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) waiting until the market closed on Wednesday before telling shareholders it picked up another $20 million from lenders and institutional investors. The deal for MedMen includes 10 million in gross proceeds under a new unsecured convertible facility, plus $5.7 million under its senior secured term loan led by Stable Road Capital and $5 million under its senior secured convertible facility led by Gotham Green Partners.

Just what will this cost? It’s not too far from getting an extremely big credit card. The principal amount of the Incremental Notes will carry an interest rate of 18.0% per annum, to be paid as follows: (a) 12.0% shall be paid in cash monthly in arrears; and (b) 6.0% shall accrue monthly to the outstanding principal as payment-in-kind.

Vermont

This week Vermont’s House and Senate negotiators reached a final agreement on S. 54, which is legislation that would legalize, regulate, and tax cannabis sales. The state had initially legalized cannabis but didn’t make sales of the product legal. This had the effect of decriminalization but also left the market in a grey zone of uncertainty. Only two states took the route of legalizing cannabis but making sales illegal.

The next step is for the legislation to get a final vote from both the House and Senate and then if it passes, which is expected, it will go to Governor Phil Scott to sign. The Governor has not expressed whether he will sign it or not. However, a recent poll conducted by Public Policy Polling and commissioned by the Marijuana Policy Project showed that 76% of voters in the state approve of creating a legal cannabis market.

In Other News

The House will postpone the much-anticipated vote on HR 3884: The Marijuana Opportunity, Reinvestment, and Expungement Act, commonly referred to as the MORE Act.

NORML Political Director Justin Strekal said, “This delay by the House does not change the fact that the overwhelming majority of voters support ending the federal prohibition of cannabis, including majorities of Democrats, Independents, and Republicans. It is expected that the vote will be rescheduled in November.

Colorado

Colorado Department of Revenue’s Marijuana Enforcement Division (MED) released its 2020 mid-year update for January 1 to June 30, which covers much of the period when Colorado has been greatly affected by COVID-19.

Some key findings in this year’s update include:

  • 76% of the 80 new business licenses in the first half of 2020 were adult-use business licenses.

  • The number of total marijuana business licenses stayed steady over these six months, maintaining about 2,700 licenses total.

  • The percentage of occupational employee two-year license renewals hovered in the low 30s, with a high of 34.2% in June and a low of 30.1% in April.

  • The average life cycle of a marijuana plant harvested as of June 30, 2020 was 125 days.

  • Adult-use plants accounted for approximately 73% of the total plants cultivated in Colorado during the months of January to June.

  • 1,332,434 plants were being cultivated on the last day of the month in June 2020.

  • Once again, Denver, Pueblo, El Paso and Boulder Counties had the highest number of plants cultivated each month.

  • Adult-use marijuana continues to outpace medical marijuana in terms of volume sold to consumers. Specifically:

    • 63% of the pounds of flower/bud sold

    • 88% of the units of edibles sold

    • 86% of the units of non-edible infused products sold

    • 65% of the pounds of concentrate sold

    • 84% of the units of concentrates sold

  • Percentage of non-qualified sales check investigations (underage compliance checks) where licensees passed was 97%.


StaffStaffSeptember 17, 2020
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6min710

This week Vermont’s House and Senate negotiators reached a final agreement on S. 54, which is legislation that would legalize, regulate, and tax cannabis sales. The state had initially legalized cannabis but didn’t make sales of the product legal. This had the effect of decriminalization but also left the market in a grey zone of uncertainty. Only two states took the route of legalizing cannabis but making sales illegal.

The next step is for the legislation to get a final vote from both the House and Senate and then if it passes, which is expected, it will go to Governor Phil Scott to sign. The Governor has not expressed whether he will sign it or not. However, a recent poll conducted by Public Policy Polling and commissioned by the Marijuana Policy Project showed that 76% of voters in the state approve of creating a legal cannabis market.

Matt Simon, New England political director at the Marijuana Policy Project said, “This final agreement has been a long time coming. Legislators should be applauded for their patience and their persistence. Vermont urgently needs the jobs, business opportunities, and tax revenue that S. 54 will provide. We hope Gov. Scott will see the wisdom in signing this bill into law.”

Another reason the state could be prompted to move quickly is the devastation the pandemic has had on Vermont’s economy. The state relies heavily on tourism but has imposed an extremely restrictive map of the places where visitors can come from. Even owners of second homes in the state are told they can’t visit their own property if they reside in a county that has too many COVID-19 cases. Luckily for the state, the pandemic hit just as last year’s ski season was winding down, but then summer tourism was lackluster as the state put more restrictions on lodging. Now business owners are getting nervous about the upcoming leaf-peeping season and then the new ski season. In short, the state will need revenue since tax collections are down.

Key provisions of the bill include: 

  • Priority licensing for small cultivators
  • Priority licensing for women and minority-owned businesses
  • Independent lab testing of all cannabis sold to patients and adult consumers
  • Creating a new independent commission to regulate medical and adult-use cannabis
  • Requiring a search warrant prior to saliva testing, which could not be conducted roadside

MPP also noted that the legislature also appears poised to pass S. 234, a bill that would require the automatic expungement of all criminal records for past low-level cannabis possession offenses. The bill would also decriminalize possession of cannabis in amounts that are up to twice the legal limit for adults and reduce some cannabis penalties.  You can read a full summary of the bill here.

Laura Subin, director of the Vermont Coalition to Regulate Marijuana said, “Automatic, cost-free expungement of minor cannabis convictions is the right policy and now is the right time for it. This bill recognizes and takes a step towards repairing the horrific legacy of racism in the enforcement of cannabis prohibition laws. It is also fair, commonsense legislation that will help break cycles of poverty and criminality.”

 

 


StaffStaffSeptember 16, 2020
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5min720

It’s time for your Daily Hit of cannabis financial news for September 16, 2020.

On The Site

PharmHouse is costing Canopy Rivers Inc. (OTC: CNPOF) millions as it works to keep it afloat after the company missed its cash flow goals. The problems have led to a deterioration among the partners causing counterclaims of bad behavior. Canopy Rivers said it will act as a debtor-in-possession lender for PharmHouse and will provide up to $7.2 million in DIP financing. This will allow PharmHouse to continue its day-to-day operations throughout the anticipated restructuring. The Joint Venture Partner (2615975 Ontario Inc.) has indicated that it will not contribute financially to address PharmHouse’s near-term liquidity issues.

Canopy Rivers owns 49% in the joint venture of PharmHouse, which was formed in May 2018. The company partnered with Canopy Growth Corporation (CGC) and TerrAscend Canada Inc. which provided strong support for the company’s significant investment in PharmHouse’s automated production facility, as well as its guarantee of the PharmHouse Credit Facility.

High Tide Inc. (OTCQB: HITIF)  reported revenue for its third quarter of fiscal 2020 of $23.20 million an increase of 180% from $8.29 million for the same quarter last year. High Tide also delivered income from operations of $2.11 million versus a loss from operations of $4.04 million for the same period of 2019. The adjusted EBITDA for the quarter was $3.96 million compared to an adjusted EBITDA loss of $3.37 million for the same quarter last year.

Cannabis technology company Akerna (Nasdaq: KERN) reported that cannabis sales over the Labor Day weekend (September 4-7) exceeded a quarter billion dollars, however, the increase was lower than previous years. Purchases jumped year-over-year by 23% to $245 million. Akerna said this included both medicinal and adult-use sales. Separately, adult-use sales increased by 35% over the holiday weekend.

Friday (September 4) saw the biggest sales day, representing a year-over-year increase of 36%. Likewise, Saturday saw a 36% increase in sales, while Sunday saw the biggest uptick with a 43% increase. Labor Day itself, however, saw an 8% decrease in sales from the previous year. It should be noted that Massachusetts does not allow sales on holidays and dispensaries in the state were closed for the day.

In Other News

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) has entered into definitive agreements pursuant to which Trulieve has agreed to acquire cultivator and producer PurePenn LLC and Pioneer Leasing & Consulting LLC  as well as dispensary operator Keystone Relief Centers LLC, doing business as Solevo Wellness. Trulieve has agreed to acquire PurePenn for an upfront payment of $46 million, comprised of $27 million in Trulieve subordinate voting shares and $19 million in cash, plus a potential earn-out payment of up to approximately $60 million in Trulieve Shares based on the achievement of certain agreed EBITDA milestones. Trulieve has agreed to acquire Solevo for an upfront purchase price of US$20 million, comprised of $10 million in cash and $10 million in Trulieve Shares, plus a potential earn-out payment of up to approximately $15 million in Trulieve Shares based on the achievement of certain agreed EBITDA milestones.

MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF), a leading cannabis retailer with operations across the U.S., today announced financing commitments totaling over US$20,000,000 from existing lenders and institutional investors. The commitments include (1) US$10,000,000 in gross proceeds under a new unsecured convertible facility, (2) US$5,700,000 in additional gross proceeds under its senior secured term loan led by Stable Road Capital and (3) US$5,000,000 in additional gross proceeds under its senior secured convertible facility led by Gotham Green Partners.

AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), today announced that it has formed a strategic partnership with CB1 Capital Management LLC, a New York-based investment management firm that specializes in health and wellness advancements through cannabinoids. CB1 Capital invests in companies that work within the supply chain of cannabinoid-based wellness solutions, products and therapies that have consumer or commercial use-cases. As a strategic partner to AdvisorShares, CB1 Capital will provide research on U.S. cannabis companies, collaborate on education and philanthropic initiatives, and serve as a public advocate on the vast benefits of cannabis innovation.


StaffStaffSeptember 16, 2020
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4min1260

Tabula Rasa Ventures, an Energia company focused on incubation and investment in the psychedelic industry, announced the candidates of its Fall 2020 incubator program designed to: further the development of businesses in the psychedelic industry through executive mentorship; increase diversity and inclusion within the psychedelic ecosystem, and develop an infrastructure to assist entrepreneurs without access to traditional capital.

“For the Fall 2020 round of incubator candidates, we narrowed our scope to start-ups and entrepreneurs that will create a more direct, positive impact on the psychedelic industry and community,” said Energia Founder and CEO Marik Hazan. “The reality is, we are in the infancy stages of a psychedelic renaissance building an industry, and it is imperative we create an equitable, impact-driven psychedelic ecosystem and we believe these candidates will do just that.”

During the three-month program, recipients will experience: access to Tabula Rasa Ventures executives, advisors, connections and networking opportunities; high-level mentorship and training from experts in and outside of the psychedelic industry; unmatched visibility into trends, proprietary research, data and tools, and advice on managing growth, team development, investor relations, governance and strategic planning.

The incubator has taken on four participants.

The participants:

The Arcana Armada; Arcata, CA; Alessandra Nicole Russo; The Arcana Armada seeks to catalyze individual and collective healing through interactive, archetypal fantasy experiences and narrative therapy. These carefully curated experiences offer a safe and playful container to explore social ecology, power dynamics, ritual and myth in a group setting. The curriculum is designed to cultivate the awareness of an interdependent ecosystem,  highlighting the essentiality of biodiversity and the value of more-than-human life.

EPIC Wellness; Houston, TX; Alberto Farinez; Epic Wellness a science-driven company focused on developing advanced orthomolecular products, including myco-botanicals and entheogens. They support our customer’s quest to develop their own health potential. They do so by creating products that harness full-spectrum extracts, the benefits of microdosing select ingredients and the synergy that results from blending them.

Sacred Huachuma Retreats; Netherlands; Alice Sitar; Sacred Huachuma Retreats will be offering retreats in the Netherlands starting early 2021. These retreats support and develop emotional and physical wellbeing, and help cultivate better relationships with ourselves, our own bodies and energy, other people and nature. They will combine bodywork, group therapy and personal integration. They welcome all genders.

Priscilla C. Agoncillo; Austin, TX;  Priscilla has been an advocate for patient’s rights and an entrepreneur in the plant medicine industry for the last 15 years. Priscilla started in Cannabis and is a co-owner of an award-winning cannabis genetics farm. Priscilla is hoping to establish reliable, compliant and consistent pathways to legally cultivate, conduct R&D and develop integrated plant molecule-based medicines


StaffStaffSeptember 16, 2020
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5min1300

High Tide Inc. (OTCQB: HITIF)  reported revenue for its third quarter of fiscal 2020 of $23.20 million an increase of 180% from $8.29 million for the same quarter last year. High Tide also delivered income from operations of $2.11 million versus a loss from operations of $4.04 million for the same period of 2019. The adjusted EBITDA for the quarter was $3.96 million compared to an adjusted EBITDA loss of $3.37 million for the same quarter last year.

“This exceptional combination of quarterly financial metrics, specifically the record levels and continued growth trends in revenue, gross profit margin, operating income, positive adjusted EBITDA and net income, reinforces our conviction that High Tide is one of the top-performing cannabis companies in Canada today. High Tide’s diversified and integrated businesses, including its best-in-class e-commerce platform, were strategically positioned to generate the Company’s strongest results since inception,” said Raj Grover, President, and Chief Executive Officer.

The company broke down its results as follows:

  • Segment-wise for the three months ended July 31, 2020, revenue was earned 89% ($20.54 million) by Retail, 11% ($2.63 million) by Wholesale, and an immaterial percentage ($0.04 million) by Corporate, which compares to 80% ($6.64 million), 17% ($1.42 million) and 3% ($0.23 million), respectively, for the same period of 2019.
  • Geographically for the three months ended July 31, 2020, revenue was earned 75% ($17.41 million) in Canada, 23% ($5.32 million) in the United States, and 2% ($0.48 million) internationally, which compares to 79% ($6.51 million), 20% ($1.63 million) and 1% ($0.15 million), respectively, for the same quarter last year.

Store Update

Despite the COVID-19 pandemic, existing Canna Cabana and KushBar locations remained operational. The company opened four new Canna Cabana retail locations in OntarioNiagara FallsToronto – Parliament, Burlington, and Toronto – Bayview, bringing the current total to 7 branded stores in the province. The company opened a KushBar store in Medicine Hat, Alberta. It also opened a Canna Cabana store in the year-around tourist destination of Banff, Alberta.

The portfolio includes a total of 37 branded retail cannabis locations in OntarioAlberta, and Saskatchewan. Currently, there are approximately 57,000 members of the Cabana Club, which has resulted in over 50% of the Company’s average daily retail cannabis transactions being conducted by Club members.

Looking Ahead

High Tide said it believes that by achieving positive cash flow from operations, the restructuring of $10.8 million of debt into an interest-free debenture due in 2025 and the pending acquisition of META Growth has strongly positioned it to execute on its strategic growth objectives for the remainder of fiscal 2020 and beyond. The company said it is well funded and operationally prepared to further its expansion in Ontario, as Canada’s largest and most underserved market.  Key industry investors in High Tide include Aphria Inc. (TSX: APHA) (NYSE: APHA) and Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB).


StaffStaffSeptember 16, 2020
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4min1050

Marie Montmarquet is co-founder of MD Numbers Inc., a family of vertically integrated cannabis brands — MD Farms, Marie’s Deliverables, and Legacy Coterie — that provide a range of goods and services to the California supply chain, retail customers, and equity community. Marie is a legacy cannabis operator who’s been passionate about the plant for over 13 years. Her cannabis business expertise and equity activism have put her in the national spotlight. After graduating from the University of Tennessee with a B.A. in Political Science and Psychology, she moved to California from Nashville in 2010. Over the last decade, Marie has created several successful cannabis businesses along with her brother Allen Hackett with whom she co-founded MD Numbers Inc. and its subsidiaries. Marie and Allen are also minority owners of Cannabis Express, having helped build one of the Bay Area’s biggest delivery providers. In addition to developing and scaling successful cannabis businesses, Marie is focused on being an advocate for social justice and equity in the industry. She’s an advisor to the cannabis equity program for Success Centers and offers monthly tours to MD Farms for equity applicants. Marie’s goals for 2020 are to expand MD Numbers and MD Farm’s capacity, develop new properties and build more equity brands; advising, supporting, and championing equity in every way possible.

Full name: Marie Montmarquet

Title: Co-founder

Company: MD Numbers Inc.

Years at current company: 5

Education profile: University of Tennessee — Bachelors of Arts, Double Major Political Science & Psychology

Most successful professional accomplishment before cannabis: Prior to cannabis, I ran my own commission sales company called Direct Effect Marketing based in Tracy, CA. I hired, trained and oversaw the sales team for Direct TV connections inside Costco, Walmart and BestBuy. I started with the company in Nashville, Tennessee, and within three months had generated enough connections to earn a paid move and promotion to California. I excelled at commission sales and won a Dale Carnegie Sales Award for best sales presentation, which then led to becoming a Sales Strategy Coaching Assistant for Dale Carnegie in the Bay Area.

Company Mission: MD Numbers’ primary mission is centered around corporate responsibility, sustainability, and equity in every facet. We believe in being accountable stewards to the environment, our customers, the community, and our employees, including making sure every decision made is centered around leaving the earth better than we found it.

Company’s most successful achievement: MD Farms and Marie’s Deliverables are 100% Black-owned. Through the years, MD Numbers has retained full ownership and control of its enterprises in a space that is generally hostile toward minority operators and predatory of equity licensees.

Has the company raised any capital: Yes

Any plans on raising capital in the future? Yes

Most important company 5-year goal: Continuing to expand our cultivation footprint and vertical integration into Marie’s Deliverables and future retail opportunities.


StaffStaffSeptember 15, 2020
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4min1010

It’s time for your Daily Hit of cannabis financial news for September 15, 2020.

On the Site

Fire & Flower

Fire & Flower Holdings Corp. (OTCQX: FFLWF) stock jumped over 6% on news of the company’s rising revenue in the second quarter. The company delivered revenue of $28.6 million including sales of $23.4 million in the retail channel, $4.3 million in the distribution channel, and sales of $0.9 million in the digital retail and analytics channel.

Still, the company reported a net comprehensive loss of $29.1 million, or net loss per share, and on a fully diluted basis of $0.18. the company attributed the loss on expenses of $12.5 million and other expenses of $26.5 million. Other expenses included losses on the revaluation of derivative liabilities of $18.3 million and finance costs of $8.2 million.

Harvest Health

Arizona-based Fibonacci Brands is buying the cannabis company  Darwin Brands from Harvest Health and Recreation (OTC:HRVSF) for an undisclosed amount. Darwin is part of the Arizona Natural Selections company and its products include Caramel Hard Candies, Seriously Good Gummies and award-winning vapes.

In February 2020, Harvest acquired AZ Natural Selections in a deal valued at approximately $30 million, the issuance of a $6.6 million promissory note and it assumed $3.8 million in debt at closing and paid off another $2.9 million at closing. The acquisition provided Harvest with two operational cultivation facilities: a 55,000 sq. ft. indoor cultivation and production facility in Phoenix and a 322-acre site of which 25 acres are zoned for cannabis with 70,000 square feet of greenhouse in Willcox.

In Other News

iAnthus

iAnthus Capital Holdings, Inc. (OTCQX: ITHUF), announced that, at the meetings of Secured Noteholders, Unsecured Debentureholders and Existing Equityholders (each as defined below and, collectively, the “Securityholders”) held on September 14, 2020, Securityholders voted overwhelmingly in support of the previously announced recapitalization transaction to be implemented by way of a court-approved plan of arrangement under the British Columbia Business Corporations Act.

IIP

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a third quarter 2020 dividend of $1.17 per share of common stock, representing an approximately 10% increase over IIP’s second quarter 2020 dividend of $1.06 per share of common stock, and a 50% increase over IIP’s third quarter 2019 dividend of $0.78 per share of common stock. The dividend is equivalent to an annualized dividend of $4.68 per common share, and is the eighth dividend increase since IIP completed its initial public offering in December 2016.

Hemp Tech

Hemp Technology Inc. (OTCBB: HPTY), (“HPTY”), a vertically integrated, publicly traded holding company operating in the hemp industry, had successfully entered into a purchase and sale agreement dated August 11, 2020, to acquire substantially all of the assets of True Leaf Pet Inc. (“TLP”). “We are pleased to advise that we have closed the bulk asset purchase acquisition effective Friday September 11, 2020.”

CanaQuest

CanaQuest Medical Corporation gets listed on THE OCMX™ CanaQuest Medical Corporation is a Life Science/Pharmaceutical Company developing health products utilizing cannabinoid molecules and other botanical compounds (pharmaceutical
grade). The Company is the industry partner for research and product development with Dr. Steven Laviolette, a professor and neuroscientist, at Western University, London, Ontario Canada


StaffStaffSeptember 15, 2020
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3min740

Cannabis is one of the fastest growing markets in the United States, employing thousands of workers and generating billions of dollars in sales revenue. Nevertheless, federal law still considers the industry an illicit market, making it difficult for even the most successful of cannabis brands to raise money. One of the ways the cannabis industry has adapted to this frustrating reality is through Shark Tank-style pitch events where companies pitch their brand to interested investors.

One such event is Retail Alchemy. Hosted by the cannabis-focused brokerage firm Cannabis10x, the event offers to open their “inner sanctum of investors” to a host of cannabis brands hoping to secure critical funding and win the ever-coveted Cannabis Crown. 

The pitch contest will take place in two stage. The first event, scheduled to take place on September 16,2020, will feature 40 cannabis brands, selected by Cannbis10x founders Jason Tropf and Holly A. Ford, who will have two minutes to make their pitch to judges. From there, the Top 15 brands selected by the judges will go on to the finals, scheduled to take place on September 26, 2020.

In addition to high net-worth investors and hungry cannabis brands, Retail Alchemy will feature cannabis legend Cheechr Marin, who will deliver the keynote address along with Tropf and Ford. While any event featuring Marin promises to include his signature style of comedy, Tropf says that events will deliver more than just laughs. 

“Pitch events like Retail Alchemy are always a lot of fun, but there’s more to it than that,” says Tropf. “The cannabis industry has an unprecedented opportunity to empower the public and raise our collective consciousness, and that’s something we take seriously.”

Tropf goes on to say he expects Retail Alchemy to carry on the success that previous events organized by Cannabis10X has enjoyed. Earlier this summer, Cannabis10x hosted another pitch event which attracted a collection of investors worth a collective trillion dollars and an international audience spanning 14 countries. 

 


StaffStaffSeptember 15, 2020
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4min1380

In support of entrepreneurs-of-color to enter the infused cannabis marketplace, the City of Oakland has announced a $250,000 contract to EquityWorks! Incubator shared kitchen. This is the nation’s first state-funded cannabis manufacturing incubator for social equity cannabis operators. These funds will support the incubation of five (5) Equity Fellows. 

The co-founder of EquityWorks! Incubator, Amber E. Senter, is an entrepreneur and advocate for cannabis equity. She is CEO of Breeze Distro, co-founder of Supernova Women and as a Black woman herself, has the first-hand experience about the challenges for entrepreneurs of color. Senter notes that “this program is the first of its kind. It was created to eliminate the high barriers of entry to the industry. There is a lot of creative innovation in the community, I don’t want a lack of funds or knowledge to be the reason why someone doesn’t act on developing a product or idea. It’s my hope that by eliminating these barriers and providing a pathway to success, this program will not only launch businesses, and create jobs but also change lives.” 

Barriers To Entry

The barriers to cannabis manufacturing operations are high due to extensive infrastructure and regulatory requirements for producing and marketing edible and infused cannabis products. People of Color (POC) have been engaging in recipe development, extraction and consumption of infused cannabis products for decades. Black and Brown-owned cannabis brands reportedly only represent 3% of the cannabis companies in California. The edibles category is California’s fastest and largest growing cannabis segment with 20% year over year growth. 

The goal of EquityWorks! Incubator is to train, empower, and build capacity for full engagement in the cannabis market, especially for communities who have been historically targeted by the War on Drugs to break into the legal cannabis industry. The one (1) year program will ensure each Equity Fellow obtains a state license and it also eliminates barriers for market entry in three (3) key ways: 

1) Lowered Overhead Costs: 

○ Provide each business with 1,200 sq ft of commercial kitchen space 

2) Mentorship: 

○ Deliver workshops, training and skillshare on sourcing, infusions, compliance, marketing and distribution 

3) Revenue: 

○ Supply a guaranteed distribution channel to retail shelf-space, thereby taking the product to market 

 

Aspiring Equity Fellows can apply to EquityWorks! Incubator at 

https://www.oaklandcannabiskitchen.com/application. Applications are due Oct. 2, 2020. 



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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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