Business Archives - Green Market Report

Julie AitchesonJulie AitchesonSeptember 18, 2020
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5min140

Weed-related subscriptions have jumped by an eye-popping 550% on the subscription box service Cratejoy during the pandemic, and box companies like Hemp Crate Co., Cure Crate, and The Stoney Babe Box are at the forefront of this surging popularity. Cratejoy offers subscription boxes for any enthusiasm, need, or DIY endeavor (current picks include lesson planning boxes to make in-home schooling less onerous and multiple iterations of the “date night” theme). Covid-19 has been a major driver of the subscription box boom, allowing Cratejoy and the weed companies it features to cash in on cannabis in a big way.

Hemp Crate, Cure Crate, and The Stoney Babe Box profit from their great reviews, built-out listings, and artsy photos showcasing what to expect in each delivery. These companies are actively engaged with the Cratejoy platform when it comes to customer reviews and questions, but it takes more than photos and customer care to hit 550% growth, pandemic or no.

Hemp Crate Co., which bills itself as “the #1 CBD subscription service” and recently launched a low income, long-term disability and veteran assistance program, offers boxes on Cratejoy starting at $44.99 per month and has an average rating of 4.8 out of 5 stars. With high marks from shipping to price to curation, cannabis consumers seem to love their monthly, quarterly, or biannual deliveries from Hemp Crate. Founded in 2018 in response to a lack of transparency and education in the CBD industry, Hemp Crate Co. dedicated itself to providing quality organic products from reputable manufacturers, incorporating transparency and consumer education every step of the way.

Cure Crate, which offers a quiz for subscribers that helps them find the right CBD products for their needs, gets glowing reviews on Cratejoy for attention to customer education and a fine-tuned focus on customization. Cure Crate’s process takes aim at the erroneous assumption that one-size-fits all in terms of formulations, offering a personalized service to help those with a range of allergies, dosage tolerances, and a wide variety of conditions find the right combination of products for each delivery. Cure Crate also offers a discount program for those facing financial hardship and donates a portion of its proceeds to The Last Prisoner Project, an innovative approach to clemency and re-entry programs for cannabis offenders.

The Stoney Babe Box is also no slouch when it comes to sales or civic responsibility. The company maintains a focus on “feminine souls who admire hemp and love smoking”. Every box contains artisanal products selected to be “unique and feminine” from small, women-owned businesses. With plans starting as low as $30 per month and reviews that give Hemp Crate and Cure Crate a run for their money, The Stoney Babe Box offers hand-crafted smoking accessories as well as daily necessities like grinders and rolling papers.

With these three companies leading the pack of weed-related subscription boxes and no end in sight to pandemic-driven demand, the ascent of cannabis-inspired care packages is poised to continue its current trajectory. 

 


Video StaffVideo StaffSeptember 18, 2020

3min750

Cannabis technology company Akerna (Nasdaq: KERN) reported that cannabis sales over the Labor Day weekend exceeded a quarter billion dollars, however, the increase was lower than previous years. The lack of big holiday sales could be attributed to bigger sales in August meaning consumers aren’t waiting for the holiday to make purchases.

We have a few earnings to review this week.

Charlotte’s Web Holdings, Inc. (OTCQX: CWBHF) reported that revenue fell from $25 million in the 2019 second quarter to $21.6 million for the 2020 second quarter. The company missed the average estimate for revenues, which was $25.9 million according to Yahoo Finance. The company also missed the earnings estimate of -$0.04 with reported earnings of -$0.13. The company also delivered a net loss of $14 million for the quarter versus last year’s net income of $2.2 million.

Fire & Flower Holdings Corp. (OTCQX: FFLWF) delivered second quarter revenue of $28.6 million. 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.

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.

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) is buying Pennsylvania’s PurePenn and Pioneer Leasing & Consulting as well as dispensary operator Keystone Relief Centers which is doing business as Solevo Wellness. Trulieve has agreed to acquire PurePenn for an upfront payment of $46 million.

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. In February 2020, Harvest acquired AZ Natural Selections in a deal valued at approximately $30 million

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. Canopy Rivers owns 49% in the joint venture of PharmHouse, which was formed in May 2018.

And finally, MedMen was able to borrow another $20 million, but the company is paying 18% interest. And you thought your credit card balance was bad.


StaffStaffSeptember 18, 2020
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8min620

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. 


Debra BorchardtDebra BorchardtSeptember 17, 2020
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4min1430

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. The cannabis legislation became the target of politicization causing sponsors to pull the vote. Earlier this week, Senate Majority Leader Mitch McConnell took a swing at House Speaker Nancy Pelosi, claiming that she wouldn’t “make time for more COVID relief,” but that she would “make time for marijuana.” The legislation, which has Republican sponsors, suddenly became a toxic subject.

It is now expected to be voted on in November. NORML noted that in the past few weeks, the MORE Act had gained dozens of new co-sponsors and likely had the support to pass the House floor with a bipartisan majority vote.

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. This delay does not change the fact that 33 states and the District of Columbia regulate the production and distribution of medical cannabis in a manner that is inconsistent with federal policy, and that one-out-of-four Americans now reside in jurisdictions where adult-use is legal under state law. This delay does not change the fact that voters in several states, including key electoral battleground states for both control of the Presidency and the Senate, will be passing similar state-level marijuana measures on Election Day.”

Maritza Perez, Director of the Office of National Affairs at the Drug Policy Alliance (DPA) said, “Unfortunately, this decision means justice delayed for millions of Black, Latinx, Indigenous and low-income individuals disproportionately impacted by our country’s racist marijuana laws. We cannot continue to force these communities to wait for a ‘politically convenient’ moment while they continue to be robbed of employment opportunities, housing, education, other government programs, and even their children or immigration status.

If members of Congress are serious in their commitment to responding to calls for racial justice, then this vote must take place the moment the House is back in session following the elections. Even with just a six-week delay, approximately 77,000 more people could be arrested on marijuana charges, based on current averages – most of which could have been avoided.”

The MORE Act would:

  • Decriminalize marijuana federally by removing cannabis from the Controlled Substances Act
  • Facilitate federal expungements for minor charges and incentivize state and local governments to do the same
  • Create pathways for ownership opportunities for local and minority entrepreneurs
  • Allow veterans to obtain medical cannabis recommendations from their VA doctors
  • Remove the threat of deportation for immigrants

StaffStaffSeptember 17, 2020
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7min430

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%.


Debra BorchardtDebra BorchardtSeptember 17, 2020
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4min1690

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.

“We are pleased with the continued support from our existing capital partners as we continue our recent track record of execution,” said MedMen Executive Chairman, Ben Rose. “The financing package is a significant milestone for the company and is a reflection of the commitment the Company has made to strengthen the balance sheet, accelerate its path to profitability and sustainability, and focus on its core retail business. We look forward to continuing to expand the MedMen brand.”

On September 16, 2020, MedMen closed on an initial $1 million, and has the right to call additional tranches, totaling a million each, no later than 20 trading days from receiving each tranche. Participating lenders will receive a $468,564 fee with a conversion price of $0.20 per share, consistent with the terms of the Facility. MedMen shares were recently selling at $0.17 per share on the OTC marketplace. MedMen has said it will announce its earnings on September 28 after the market closes.

Company Update

While MedMen has struggled over its leadership problems and mountain of debt, it continues to press forward. The company recently noted that it is has 25 retail stores that are in operation across California, Nevada, Illinois, Florida, New York, and Arizona. On August 3, 2020, the City Council of West Hollywood adopted an urgency ordinance to create a new “Legacy Cannabis Business License” which will permanently allow for both medical and adult-use sales of cannabis by MedMen West Hollywood and the three other pre-existing medical operators, bringing the collaborative efforts between the City of West Hollywood and other related parties to a final resolution.

On August 6, 2020, the Massachusetts Cannabis Control Commission voted in favor of granting MedMen Boston, LLC, a subsidiary of the Company, a provisional adult-used license for its proposed flagship retail location near Fenway Park. A final license for this location is subject to meeting various conditions prior to opening, which is expected to occur in 2021.

“The positive licensing developments in West Hollywood and Boston are a result of the Company’s commitment to meaningful engagement with local regulators and the communities we are privileged to serve,” said MedMen Executive Chairman Ben Rose. “We continue forward momentum as we execute on our turnaround plan, strengthen our retail footprint and improve four-wall economics. Through our focus on retail, we have made significant progress in optimizing our business model and improving our presence as partners and neighbors in our locations as we expand the MedMen brand in existing and new markets across the U.S.”


StaffStaffSeptember 17, 2020
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6min690

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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5min710

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.


Cynthia SalarizadehCynthia SalarizadehSeptember 16, 2020
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6min1190

National Expungement Week (N.E.W.) 2020, the third annual week of awareness across the U.S. that offers expungement and other forms of legal relief to some of the 77 million Americans with criminal records will take place September 19-26, 2020

Adapting to address COVID-19 health and safety concerns, N.E.W. 2020 will continue its vital work through a mix of online and in-person clinics, workshops, and events – featuring crucial supportive services including pop-up food pantries and voter registration at select locations.

N.E.W. 2020 clinics will cover all 5 regions of the U.S., representing states including California, Colorado, the District of Columbia, Florida, Hawaii, Illinois, Kentucky, Massachusetts, Missouri, New York, New Jersey, Oregon, Pennsylvania, South Carolina, and Washington. Besides record clearing services, legal advice, and education, N.E.W. 2020 will continue its mission to restore individuals and communities through wraparound services focused on key areas of relief exposed by the ongoing pandemic, including reparative justice, voting rights, housing, and food insecurity.   N.E.W. 2020 is made possible by Canopy Growth Corporation, local sponsors, partner organizations, and a tireless community of grassroots organizers working directly with disenfranchised communities.

“Our year-round work never stops, and we are determined to use this week to inspire communities to take action, clear records, and restore the rights of some of the 77 million justice-impacted people in the U.S.,” says LaTorie Marshall, the founder of National Expungement Week.

N.E.W. is a permanent assistance network for marginalized communities nationwide, which has helped over 1,000 people start to clear or seal convictions on their records. More than 3,000 people have also received related social services offered at N.E.W. clinics and events, including employment resources, voter registration, and health screenings. Since its launch in 2018, the grassroots network has generated a public benefit of over $10,000,000.  

N.E.W. 2020 is powered by people of color, supported in full solidarity by Cage-Free Repair, and brought to communities through a dedicated group of community organizers and activists.  The collective advocates for uniform legal relief laws and automatic expungement policies nationwide and raises awareness for the 44,000 legal and socioeconomic barriers that exist for the disenfranchised.  Though not cannabis-specific, mitigating the impact of the War on Drugs is a key focus, as it works to put marginalized communities directly in touch with valuable services and resources.  N.E.W. has also created an online toolkit to further their expungement efforts year-round.

N.E.W.’s partnership with Code For America continues in a number of forms in 2020.  Code for America’s National Day of Civic Hacking (September 12, 2020) will focus on the social safety net, and those efforts will be amplified by the wraparound services offered at N.E.W. events one week later. In time for one of the most consequential election cycles of a generation, N.E.W. 2020’s push for voter registration also coincides with National Voter Registration Day, which takes place on September 22, 2020. 

For more information on N.E.W. 2020, including a full list of locations and events,  please visit www.nationalexpungementweek.org

 


StaffStaffSeptember 16, 2020
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4min1250

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



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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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RT : With 48 days until the election, we are finding ways to let voters in New Jersey know Cannabis is on the ballot and why t…

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RT : With 48 days until the election, we are finding ways to let voters in New Jersey know Cannabis is on the ballot and wh…

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