Executive Spotlight Archives - Green Market Report

StaffStaffJanuary 20, 2020
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5min2290

Full birth name: Ericka Pittman

Title: Chief Marketing Officer

Company: Viola

Years at current company: Less than a year, previously was at Combs Enterprises for almost a decade

Education profile: Bachelor’s Degree Corp Comm- Bernard Baruch College 

Most successful professional accomplishment before cannabis: Becoming Chief Marketing Officer of the #2 Premium PH Bottled Water Company

Company Mission: Viola is a purposeful brand that uses the power of cannabis to transform the lives of minorities by increasing representation, facilitating community building and providing employment opportunities.

Company’s most successful achievement: Viola is one of the largest independently owned African American Cannabis companies in the US with multi-state operations in Colorado, Oregon, California, and Michigan. 

Has the company raised any capital (yes or no): Yes

if so, how much?: Viola recently raised a $16M in a Series A funding round which will go toward Viola’s continued expansion mission into the Michigan and California markets.

Any plans on raising capital in the future?

Viola is poised to achieve substantial growth over the upcoming months.  We have developed an iron-clad business plan that we believe will carry us through this next business cycle. As we continue to assess the ever-expanding world of cannabis, we will evaluate the need for external capital and decide accordingly.

Most important company 5-year goal:

Viola plans to spearhead a purpose-driven lifestyle movement that results in more than 10,000 jobs, hundreds of new business owners and increased industry diversity through job opportunities, training programs, cannabis startup incubation and more.

Personal Bio

Ericka Pittman is a highly accomplished Marketing Executive with more than 25 years of success in the CPG, beauty, luxury goods, wine & spirits, food & beverage, tech and media industries.  Prior to joining Viola brands, Ericka was the Chief Marketing Officer at AQUAhydrate, Inc. where she was responsible for spearheading and directing the Company’s marketing, sales functions, and departmental goals, objectives, and operating procedures. Before, AQUAhydrate, Ericka spent 9 years at Combs Enterprises holding multiple roles within the organization including Vice President of the Chairman’s Office.  Ericka had previously spent 15 years working in interactive and publishing media, holding positions at iVillage.com; Honey, Heart & Soul, and Savoy Magazine (Vanguard Media Group); Baby Talk Magazine (Time Inc.); Glamour Magazine (Condé Nast); Vibe & Vixen Magazines (Vibe Media Group); and GIANT Magazine (Radio One Inc).

She currently serves as a member of a number of organizations including Women in Entertainment Empowerment Network (WEEN), National Association of Professional Women and Advertising Women of New York (AWNY). She also lends her time and energy to a number of causes and other organizations, including Dress for Success and Network for Teaching Entrepreneurship (NFTE).

Ericka holds a Bachelor of Science (B.S.), Corporate Communications from Baruch College as well as an Executive Women in Leadership certification from eCornell University. Originally from Brooklyn, NY, she now resides in Los Angeles, CA.

 


StaffStaffJanuary 6, 2020
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3min2620

Joshua Michael Swider began his career in chemistry at Eastern Washington University, where he earned his Bachelor of Science in Chemistry and degrees in physics and biology in 2012. His quest for a deeper understanding of the science led him to pursue a graduate program in chemistry, while pursuing a PhD from the University of California San Diego in the joint doctoral at San Diego State University he obtained a master’s degree in analytical chemistry from SDSU. Throughout his nine years in college, Josh became interested in the medicinal benefits of cannabis and the lack of analytical research and public understanding associated with it. He wanted to change this, and with his knowledge and passion for the industry, Josh founded the lab in 2016. Whether cannabis is used for adult use or medicinal purposes, he’s made it InfiniteCAL’s mission to ensure only safe, quality products are allowed in the industry.

Executive Spotlight Q&A:

Years at current company: 3.5 Years

Education profile: Eastern Washington University- 2008-2012 Chemistry, Physics and Biology

San Diego State University 2012-2017 Analytical Chemistry

University California San Diego 2013-2017 Analytical Chemistry 

Most successful professional accomplishment before cannabis: My most successful professional accomplishment before joining the cannabis industry was returning to college after 5 years of completing high school and attending graduate programs. 

Company Mission:  Infinite Chemical Analysis Labs’ mission is to provide the cannabis industry with accurate and timely analytical services of the highest quality, while meeting or exceeding our clients’ expectations.

Company’s most successful achievement: Maintaining the highest standards in the industry while expanding from 2 employees to about 50. 

Has the company raised any capital (yes or no): Yes

If so, how much?: 200k 

Any plans on raising capital in the future? Yes

Most important company 5 year goal: InfiniteCAL’s 5 year company goal is to open analytical labs in 15-25 States and provide the best service in each state. 

 


StaffStaffDecember 24, 2019
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4min4100

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Executive Spotlight: Niccolo Aieta, Founder and CTO, Spherex

Full birth name: Niccolo Aieta

Title: Founder and Chief Technology Officer

Company: Spherex

Years at current company: Five — Spherex is celebrating its five-year anniversary!

Education profile: I received my Ph.D. in Chemical Engineering at the Colorado School of Mines, researching hydrogen fuel cell technology. Before that, I got my Bachelor of Science in Environmental Studies and Planning, and Energy Management and Design, from Sonoma State University.

Most successful professional accomplishment before cannabis:  The culmination of my Ph.D. and post-doctoral work. My thesis, and associated patent, and seeing this work come to use in the real world through the 3M fuel cell program.

Company Mission: Using innovative extraction and refinement techniques, Spherex produces the industry’s leading distillates to deliver an ideal cannabis consumption experience.

Company’s most successful achievement: Building a better extraction process…in just one year.

At the time of Spherex’s founding in 2015, the industry’s highest efficiency using supercritical CO2 was roughly 50%. I saw that the cannabis industry needed more efficient refinement in the extraction process, so I founded Spherex to address this need.

Spherex uses science. That’s how we get it done. My scientific team’s technical prowess is second to none, and within one year we engineered an industrial-scale CO2 cannabis refinement operator with extraction efficiencies of over 95%. We can refine up to 120 pounds of raw cannabis per day.

Beyond that, we’re proud to have achieved profitability. Spherex is a profitable cannabis company in a time when there are still many barriers to growth, and we have done it by keeping our focus on the two founding principles we do best: Efficiency and scale.

Has the company raised any capital (yes or no): Yes.

if so, how much?: We have raised over $6 million in outside capital.

Any plans on raising capital in the future? We would be open to it. As a profitable company, we are able to self-fund, but we may entertain the right strategic or capital partner.

 Most important company 5-year goal: To grow existing markets while leading the charge for new markets. From cannabis beverages (and the launch of our infused sparkling water PHYX) to multi-state expansion, Spherex is looking ahead to where we can innovate next


StaffStaffDecember 18, 2019
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5min5052

Full name: Aviv Hadar

Title: Chief Executive Officer and Co-Founder

Company: Oregrown Industries, Inc.

Years at current company: Six years

Education profile: Finished high school at New Trier Township in Chicago, Illinois. Accelerated rapidly in the University of Montana’s Computer Science program. Stopped attending classes to found a software company that recently celebrated its tenth year in existence. Experienced major success with the software company (www.ThinkBrilliant.com), and then transitioned over to Cannabis from the Tech sector.

Most successful professional accomplishment before cannabis: I consider two events to be pinnacle achievements prior to cannabis. 1) My software company was behind the viral “I’m with Coco” campaign that propelled Conan O’ Brien to stardom during his dispute with Jay Leno, and 2) My software company launched the original SoulPancake.com (Rainn Wilson’s social media and content platform) that was eventually acquired by Citizen Media.

https://www.fastcompany.com/1647023/next-tech-im-aviv

Company Mission: See below…

About Oregrown: Oregrown is a standout among brands. As Oregon’s premier farm-to-table cannabis company, the Oregrown team cultivates using organic methods and processes world-class products in the pursuit of unparalleled craftsmanship in every facet of their supply chain. As the first, exclusive Oregon producer for PAX Era, Oregrown’s cultivation and extraction professionals craft several of the state’s premier dispensary products including their own lines of Oregrown flower, extracts, and concentrates. Oregrown’s award-winning flagship dispensary located in downtown Bend, Oregon, an outdoor recreation destination and tourism capital of the Pacific Northwest, has been named Best Budtender (2019), Best Place to Work (2017), Bend’s Best Place to Visit for First Dispensary Experience (2016), and Bend’s Best Dispensary five years in a row (2015-2019).

Coming soon: Portland Flagship Retail (Winter 2019), Cannon Beach Retail (2020), and Eugene Retail (2020).

Company’s most successful achievement: This is also hard to articulate into one achievement. Since we founded the business, we have won Best Dispensary Five Years in a Row in our hometown of Bend, Oregon. We have been voted Best Place to Work for two years in a row. We have been voted Startup of the Year by the Bend Chamber of Commerce and we continue to stay strong and consistent in a consistently difficult market.

Has the company raised any capital (yes or no): Yes. The company has successfully raised capital. From Retail Expansion to Brand and IP, and Wholesale and CPG development, we continue to offer lucrative investment vehicles and mechanisms and platforms for potential investors.

if so, how much?: We do not disclose exact fundraising numbers.

Any plans on raising capital in the future? Our financial modeling and current capital raises have been through private placement and family offices. These investments have been made based on sound business principles, core assets, structured management, and competent leadership. A deluge of institutional capital is waiting on Federal Guidance before flooding the sector. We have been contacted by many of those firms.

Most important company 5 year goal: Growth and profitability. If the perfect M&A transaction emerges, to take the ride


StaffStaffDecember 2, 2019
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3min3580

Company: Goldleaf Ltd.

Goldleaf brings a clear and credible perspective to the cannabis community by pairing compelling design with the latest peer-reviewed research, making the complex more approachable— beautiful, even. Specializing in guided notebooks and elegant print design for cannabis patients, growers and enthusiasts alike, Goldleaf products are available worldwide. Based in Cincinnati, Ohio, Goldleaf also provides custom design services for like-minded organizations around the world.

Full birth name:  Charles McElroy

Title: Creative Director, Owner

Years at current company: 3.5

Education profile: B.S. from Ohio University, Masters track in Business Informatics from Miami University

Most successful professional accomplishment before cannabis: Co-founded a sustainable clothing company, had the 3rd highest-grossing Kickstarter campaign at the time (in the fashion category) and went on to build a 100% USA supply chain — from the cotton farm in Georgia, knitting, and garment dying in North Carolina, sewn in Tennessee — fulfilled in Cincinnati.

Company Mission: 

Goldleaf values science, pleasing design, and education. Our mission is to create universal access to cannabis research while cultivating individual, community, and environmental wellbeing.

Company’s most successful achievement: 

We were the first to create guided journals specifically for cannabis cultivation and tracking medical therapy. We have since iterated on these initial designs and are now highly regarded for our dedication to accuracy and quality of information. Due to our approach to content creation — valuing vetted research and primary sources — we’ve garnered a stellar reputation for accuracy and integrity.  This has led us to get a great deal of mainstream media attention.

Has the company raised any capital (yes or no): No

Any plans on raising capital in the future? Yes.

Most important company 5 year goal: 

We have worked hard to build our reputation and authority in the educational design space. We plan to leverage this brand equity by expanding our custom B2B design and packaging offerings, collaborations, and growing our team of researchers and designers.


StaffStaffNovember 19, 2019
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5min4900

Full birth name: Diana Anglin

 

Title: Chief Operating Officer

 

Company: CannAmerica Brands Corp.

 

Years at current company: 1.5 years

 

Education profile: BS from Western Michigan University (1994)

 

Most successful professional accomplishment before cannabis: Previous to cannabis I was in the public higher education sector. I had plenty of experience interpreting rules for higher education like Title IV (federal financial aid), NCAA (National Collegiate Athletic Association), and college accreditation standards. While serving as the Graduation Services Advisors for the Colorado School of Mines I was able to motivate many students burned out from the rigorous program to stay focused and finish their degree. It brought me heartwarming pride to see “my students” walk across the stage at graduation.

 Company Mission: Our mission is to maximize the value of our brands by promoting, marketing and licensing the brands through various distribution channels, including to dispensaries, wholesalers and distributors in the United States and internationally. CannAmerica Brands owns a portfolio of cannabis brands in the cannabis space currently in the states of Colorado, Nevada, Maryland, Oklahoma, and Massachusetts. Our core strategy is to enhance and monetize the global reach of our existing brands, and to pursue additional strategic acquisitions to grow the scope of and diversify our portfolio of brands.

 Company’s most successful achievement:

Creating our Intellectual Property company to protect what our founders spent years creating was an early industry achievement that put our Company ahead of other cannabis companies. CannAmerica achieved a major milestone when we began trading on the Canadian Securities Exchange (“CSE”) under the symbol “CANA” on October 15th of 2018, when Canada announced federal legalization of cannabis. In December, CannAmerica also commenced trading on the OTCQB® Venture Market in the United States under the symbol “CNNXF.”

 Has the company raised any capital (yes or no): if so, how much?:

Yes, CannAmerica raised approximately $7 million via non-brokered private placements.

 Any plans on raising capital in the future?

At this time, the Company is focused on operational success.  Once current plans for expansion and new lines of products are in place, the Board will review the market temperature to determine the course of action for financing additional projects.

 

Most important company 5-year goal:

Expansion into more legal cannabis marketplaces, national hemp finished product sales, and additional lines of business to increase the revenues for the company and to create as many opportunities for brand expansion and acquisition.

Diana Anglin Bio:

Diana Anglin is a leader in cannabis regulatory compliance in the state of Colorado. She has assisted many companies to obtain licensing and prepare for opening of business. She served as Chair for Compliance Council of the Colorado Cannabis Chamber of Commerce and held the position of Director of Compliance for two licensed marijuana companies. Currently she is the Chief Operating Officer for CannAmerica Brands Corp. Diana has been working in regulatory compliance for over 20 years. Her career started with helping young people navigate the college regulatory processes of Student Financial Aid, Graduation Services, and Enrollment Management.

Diana enjoys using her unusual sense of humor to raise money for local charities as well as using her free time to enjoy the many activities Colorado has to offer.

 

 


StaffStaffNovember 1, 2019
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9min6030

Degelis Tufts, Co-Founder, and CEO of Tribe Tokes on the left, Kim Byrnes, Co-Founder & CMO of Tribes Tokes on the right

Company:

TribeTokes (Tribetokes.com) 

Two Boss Ladies:

Degelis Tufts, CEO & Founder

Kymberly Byrnes, CMO & Co-Founder

Years at current company:

 DT: 3 years

KB: 2 years

 

Education profile:

 DT: University of Virginia McIntire School of Commerce (‘08, Concentrations in Finance and International Business), Chartered Financial Analyst (CFA) Designation 

KB: 5 Pilates Certifications

Most successful professional accomplishment before cannabis:

 DT: Covered over $2 billion in investments in the Consumer / Retail sector at Sands Capital

KB: In 2017 after teaching Pilates for 18 years including owning my own studio in Florida, I was honored to become a Lululemon ambassador in my hometown of NYC. 

Company Mission:

 DT: Our goal for TribeTokes is to provide consumers with access to high quality, lab-tested cannabis-derived products at fair prices. We take the guess-work out of clean, sustainable, organic product selection because everything we offer is as functional and safe as it is beautiful and stylish. We serve our customers above all and pay special attention to customer service and education. 

KB: Our team’s motto is “Mindful, Fit & Lit.” TribeTokes’ mission is and always will be to educate and elevate our customers. TribeTokes as a company respects plant science, supports mindful consumption and purveys top quality products with an elevated aesthetic for the “next-generation cannabis consumer.”

DT & KB: We are both motivated by the cannabis movement and feel obligated to stay as true to the culture as possible. As our mission is to educate and elevate, that very much runs parallel with our own goals of educating and elevating ourselves. TribeTokes is built by girls, supporting women in the cannabis industry. It’s an honor to be able to employ and empower women from our community to join the movement along as part of our ever-growing Tribe.

Company’s most successful achievement:

 DT: Recently our brand was featured in Rolling Stone article written in response to the vaping crisis and the article mentioned our specific attention to detail when it comes to creating clean, safe, and transparent vape products. When we first entered the market, the CBD vape scene was dire – it is a very hard molecule to stabilize in a vape and very expensive, and even legitimate brands and farms were cutting corners. We advocated for “clean vaping” from day one and spent a year creating our proprietary strain-based formulations without fillers we identified as unhealthy. Since then, we’ve been taking extra attention to heavy metals testing and other aspects that help us provide the cleanest vapes possible. It’s been hours of meticulous work and it was an absolute honor to be recognized for that. 

KB: I am so proud of the rapid emergence of our wellness and beauty lines, TRIBEauty and TribeRevive. Both launched this year, each line consists of two organic, clean plant-based beauty and wellness products each. We’ve seen so many beauty lines misusing CBD or using low-quality CBD so consumers wouldn’t really feel the powers of this plant. We knew we wanted to create something that customers would want to put on their skin so we only use all-natural ingredients. We started with one eye CBD-infused eye cream which quickly became a must-have. Our pain cream came next and was so popular we launched it in a higher milligram of CBD and we just launched our CBD Superfood face mask which is already become a fan-favorite. It’s exciting to continue to launch products within these lines that transform the ways our customers see the potential of CBD. CBD is a superfood that is perfect for anyone who wants natural remedies for the stress of everyday life and we’re creating a whole range of products to cater to those needs. 

Has the company raised any capital (yes or no): 

DT: Our company is 100% funded, bootstrapped and run by the women on the founding team (launch capital and profit reinvestment). We put our own money where our mouth is! 

 Any plans on raising capital in the future? 

DT: I believe in raising capital when there is a profitable use of funds. We would raise money when it makes sense (for example, to invest in a license or to scale a profitable marketing channel). Many founders have a mindset that if they raise $2M in Series A they will be successful, which causes enormous pressure not only to spend the money but to grow at an unreasonable pace which can lead to irresponsible budgeting decisions. I always think of the Silicon Valley episode where Richard realizes he could have been successful if he raised LESS money. 

For better or worse, bootstrapping results in rolling up your sleeves and doing a LOT yourself, and growing in a more measured and thoughtful way. We have tight control over our supply chain which is enormously helpful for cash flow management and maintaining the best quality product.   

Most important company 5-year goal:

 DT: When national sentiment and legalization align, we, of course, want to someday be both a CBD AND THC brand!  We have built a community and customer base in New York and nationwide and want to leverage this consumer trust and our high product standards to sell THC products in addition to CBD. We’ve already become a resource and leader in plant wellness and CBD and we see similar potential for THC based products. We also want to make sure the voices and needs of female cannabis consumers are heard and met. The legal cannabis markets need more female leadership. 

KB: Everything that Dege said; we really need to see more female-founded brands and female-led investors in the cannabis industry There aren’t enough brands that truly understand what the female cannabis consumer needs and we’re trying to fill that gap. We also cannot wait for CBD and THC to be accessible for everyone. Dege and I love the culture and as we push the movement forward, we push ourselves. We see the improvements that can be made in cannabis and want the same potential for CBD to be met for innovative THC products that are mindful, fit and lit!


StaffStaffOctober 24, 2019
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4min5880

Tracey Mason is a 25–year veteran of the adult beverage industry with experience in nearly every facet. She has held executive–level marketing positions at some of the world’s largest beverage companies, including Diageo, where she worked her way up from sales management to Director of Commercial Innovation, and Fosters Wine Estates, where she held the position of Vice President of Marketing/Innovation until 2006, when she left to pursue her dream of running a small business. 

As Vice President of Sales and Marketing at Epic Wines, a mid–sized, California–based distributor of fine wines, Tracey honed her leadership and financial management skills while leading the company toward extraordinary growth. She left Epic in 2008 to take an equity position at ProVina Inc, a Silicon Valley startup focused on technology–based innovation in winemaking, and began consulting to a number of established and start–up companies, including Golden Star Tea and Clos de la Tech Winery.

In 2010, Tracey was drawn back into the corporate world to take the role of Executive Vice President of Global Marketing at Goelet Wines Estates (GWE). There, she championed the repositioning and renaissance of the iconic Clos Du Val Winery, solidifying her position as a brand renovation specialist.

Tracey left GWE in April 2013 and launched M3G, Inc. Today, M3G is leading brand marketing, PR, innovation and renovation projects for some of Northern California’s most renowned companies, including Valley of the Moon Winery, Silverado Vineyards, ZIATA Wines and others.

Title: Co-founder & CEO

Company: House of Saka, Inc.

Years at current company: 1.5

 

Green Market Report Executive Spotlight Q&A:

Most successful professional accomplishment before cannabis: President and Creative Director of M3G-Inc, My own consulting company.

Company Mission: To create the most luxurious and consistent female-centric cannabis-infused product experience ever offered.

Company’s most successful achievement: Acting as true innovators and trailblazers to bring our beautiful products to market in the manner in which we envisioned.

Has the company raised any capital (yes or no): Yes

Any plans on raising capital in the future? Yes, Series A pending, Q1 2019

Most important company 5 year goal: To be broadly acknowledged as the leading female-run company in cannabis in the US as determined by category leading brands, meaningful philanthropy, success-driven company culture, shareholder value and, of course, profit.


StaffStaffOctober 23, 2019
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6min8590

Ben Larson, CEO of Vertosa: Calling upon his experience as a serial entrepreneur, investor, and startup adviser, Ben and the Vertosa team enable mainstream businesses to enter the growing cannabis industry by providing water soluble active ingredients to infuse beverages and other products. Previously, Ben co-founded Gateway, the premier cannabis startup accelerator based in Silicon Valley. Additionally, Ben is a Director and Mentor for the Founder Institute, where he formerly managed global operations and helped grow the program into over 100 cities around the world. He’s also active on several boards inside and out of the cannabis industry and travels the world for speaking engagements. Ben was recognized in the 40 Under 40 Class of 2018 by the San Francisco Business Times.

Title: CEO

Company: Vertosa

Years at current company: 1

 

Green Market Report Executive Spotlight Q&A:

Most successful professional accomplishment before cannabis: Launching new businesses has been one of my greatest strengths throughout my career driven by my passion for helping fellow entrepreneurs realize their dreams. I am a serial entrepreneur and have a passion and indomitable appetite for building great products and teams. Before cutting my teeth in cannabis, I was the Director of Global Operations for the Founder Institute, where I helped launch over 100 startups locally, recruited and trained business leaders globally, and formed startup ecosystems around the world to spur economic growth outside Silicon Valley. I was instrumental in expanding the program into more than 100 cities around the world and on-boarded, trained and guided local leadership.

I’m still a Director and Mentor at the Founder Institute, and love working with entrepreneurs to shape the next generation of companies. I bring that same drive and industry knowledge to the cannabis industry, both through my portfolio I built with Gateway and the brands I work with every day at Vertosa. 

Company Mission: Vertosa creates the most effective and reliable active ingredients for infused product makers. At the forefront of the booming cannabis beverage movement, our mission is to work closely with client needs to create stellar market-ready products that are ready to scale. Built on a rock-solid foundation of bioavailability, flavor, clarity, stability and safety, Vertosa is breaking the stigma and unlocking the truths of cannabis by making it accessible to all. 

Company’s most successful achievement: Our state-of-the-art pre-suspended nanoemulsion technology is our founding achievement. Meticulously engineered to the specifications of every SKU to evenly disperse in water and remain stable no matter the conditions, our emulsions are not only the most stable you’ll find on the market, they’re also industry-leading in flavor and clarity and have an average onset of less than 10 minutes. We’re working with companies everywhere from early-stage startups to international beverage enterprises in both the cannabis and hemp markets.

Has the company raised any capital (yes or no): Yes.

If so, how much?: We’ve raised $1.55M to date 

Any plans on raising capital in the future? Yes. We have a big announcement coming in the next few weeks – stay tuned! 

Most important company 5 year goal: As a leader in manufacturing bulk active ingredients for infused cannabis products, our goal is to be the trusted supplier worldwide and create the platform that allows brands to scale and create consistent experiences for their consumers. We will continue bringing great cannabis products into the mainstream alongside our partners of all sizes. The infused cannabis market is just getting started, and as the industry grows we’re making sure Vertosa is at the epicenter. 


StaffStaffOctober 4, 2019
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6min6470

Ingo Wilhelm Mueller has been involved in the finance and advisory business for the past 20 years, having raised over $200M in the last 10 years. Ingo has been instrumental in the formation and strategic management of numerous companies globally, through executive positions, directorships and advisory roles – many of which involved the structuring and financing of resource opportunities.

He has either founded, partnered in and developed or advised companies in a broad cross section of industry sectors as an entrepreneur and visionary whose primary focus has been to identify market gaps or opportunities in nascent industries or in established sectors and align them with funding, while supplementing existing management teams with well respected international advisors and board members to establish or refine the strategic objectives of the business.

His previous executive experience includes being the CEO of Wigu City Edutainment Centres PLC, London Mining PLC (Colombia), and International Coal Company Ltd.

 

Title: CEO

Company: Canivate Growing Systems Ltd.

Years at current company: 2.5

GMR Executive Spotlight Q&A:

Most successful professional accomplishment before cannabis:

Raising $200M (Cdn) funding over a 15-year period for companies in a range of sectors including natural resources and gaming

Company Mission: To create a new standard of Clean. Green. Pure. in the cannabis and hemp industries.

Company’s most successful achievement:

Canivate is set to disrupt the cannabis and hemp industries. Our proprietary facility design and automated growing system is aimed at redefining industry standards for cannabis and hemp cultivation. 

The technology provides the potential to substantially increase yield per square foot, reduce operating costs, provide consistent quality, and decrease the environmental impact of traditional greenhouses and indoor facilities. It is also expected to result in significantly lower cost per gram on the market compared to conventional cannabis cultivation facilities. 

Canivate’s automated growing system is focused on providing a solution to the problems of consistent quality, meeting consumer demand, reducing operating costs, increasing profitability, and lowering the environmental impact of cannabis cultivation. 

Along with raising $14.3M (Cdn) to-date in funding for Canivate, executing on our business model for the first Canivate campus in Southern California as quickly as we have is a key achievement. 

Our business model is unique. Canivate does not act as the cultivator – in fact, we never touch the plant. Canivate identifies market demand before locating and building a facility, and then the facility and growing system is leased to an exclusive independent operator (EIO) for each state, pursuant to lease and licensing contracts. The EIO will be licensed in its local jurisdiction to engage in cultivation activities and will manage the facility and growing system using the Canivate IP. 

The EIO will work with commercial cultivators, while retaining control and management of the growing system process, allowing them to optimize yields and provide retailers with consistent, high-quality and environmentally friendly products. In addition, an offtake contract for each facility is put in place through the EIO and their commercial cultivators before it is built. This is done to provide high-profile brands – that have established distribution channels and retail outlets – with a consistent quantity and quality of product, which secures profitability for both the EIO and Canivate.

For Canivate’s first campus, there are currently signed offtake agreements in place with high-profile cannabis companies. The signed offtake agreements will produce estimates of a minimum of 6,500 kg annually for each growing facility. (These are low-end estimates – total expected production among signed agreements is 19,500 kg.) Offtake agreements are secured by a performance bond (purchase guarantee).

Has the company raised any capital (yes or no): Yes

If so, how much?: $14.3M Cdn

Any plans on raising capital in the future? Yes

Most important company 5 year goal:

Canivate is set to establish a new gold standard for cannabis and hemp consumption in the United States and Canada. We are committed to establishing an industry standard of Clean. Green. Pure. for cannabis cultivation and consumption. 

 



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