Claybourne Industries Archives - Green Market Report

William SumnerWilliam SumnerJuly 24, 2019
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4min3130

It’s time for your Daily Hit of cannabis financial news for July 24, 2019.

On the Site

Executive Spotlight: Nick Ortega, Co-Founder & CEO of Claybourne Industries

Nick Ortega is the Co-Founder and CEO of Claybourne Industries, a cultivator and distributor specializing in growing brands throughout California. Claybourne’s house brand, Claybourne Co, is known for its innovative flower products such as The Claybourne Power PackTM and the Claybourne Top Shelf 1oz jar.

Fire & Flower Holdings

You may not be able to purchase cannabis from your local gas station, but that hasn’t stopped the international convenience store chain Alimentation Couche-Tard (TSX: ATD.A ATD.B) from staking a claim in the industry. Today it was announced that the company would purchase a stake in Fire & Flower Holdings Corp. (TSXV: FAF) $25.9 million.

80% Of Vape Products Could Be Fakes

In a time of designer bags, jewelry, shoes, and a slew of other consumer goods being knocked off, the cannabis industry has also fallen victim to counterfeit products. Imagine going into what you believe is a legitimate cannabis dispensary or online shop and being sold what you think is a King Pen, Brass Knuckles, or Heavy Hitter vape, only to find that in comparison to what you’re inhaling, “you’re better chewing on lead paint.”

In Other News

Curaleaf

In the wake of the news that Curaleaf Holdings (OTCMKTS: CURLF) had received a warning letter from the United States Food and Drug Administration over “unsubstantiated health claims,” the national pharmacy retailer CVS has announced that they will no longer sell Curaleaf products. In a statement, Mike DeAngelis, CVS’ senior director, corporate communications, said that the company has no plans to resume selling Curaleaf products once they are pulled from the shelves. In response to the FDA letter, Curaleaf representatives say that the company “will work collaboratively with the FDA to resolve all issues addressed in the agency’s letter.”

Green Growth Brands

Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) announced that it had raised C$50.2 million in a bought deal offering led by Canaccord Genuity Corp. At C$2.45 per unit, Green Growth Brands sold 20.5 million units of the company. Each unit is comprised of one common share and half of one common share purchase warrant. The company has also extended to the underwriters an over-allotment option to purchase an additional 3,075,000 units at the offering price, totaling C$7.53 million. The closing is expected to close on August 21, 2019.


StaffStaffJuly 24, 2019
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5min7700

Nick Ortega is the Co-Founder and CEO of Claybourne Co, a cultivator and distributor specializing in growing brands throughout California. Claybourne’s house brand, Claybourne Co, is known for its innovative flower products such as the The Claybourne Power PackTM and the Claybourne Top Shelf 1oz jar. With a heavy focus on flower product innovation, Claybourne differentiates itself by offering retailers and consumers products that they desire by listening to their needs and not accepting the status quo. Innovation stems from consumer needs, and Claybourne prides itself on always having their ear to the ground to stay ahead of competition.

Prior to Claybourne, Nick was Global Product Manager for Dover Corporation where he led the global expansion of brands through new product development, sales and operations. At Claybourne, Nick uses his experience as a product focused executive to lead the strategic vision and execution of the company alongside his co-founders, Jonathan Griffith and Brent Barnes. Next on the horizon, using Brent Barnes’ vast plant breeding and agricultural experience to develop innovative cultivars that offer disease tolerance, heartiness, improved yields, and unique cannabinoid and terpene profiles.

Green Market Report Executive Spotlight Q&A – 

Full birth name: Nicholas William Ortega

Title: Chief Executive Officer

Company: Claybourne Co

Years at current company: 2

Education profile: Bachelor of Science in Mechanical Engineering – Cal Poly Pomona, Masters of Business Administration – University of California, Irvine

Most successful professional accomplishment before cannabis: I spent the majority of my career at Dover Corporation (DOV), most recently as Global Product Manager for key growth product lines within the Dover industrial pump portfolio. While under my management, these products realized over 65% YoY revenue growth for multiple years running while competing with decades old incumbents that had much larger budgets and brand recognition. The position taught me the importance of truly knowing your customers’ needs and the positive impact that new product development can have on both top and bottom line growth.

Company Mission: To curate a portfolio of feelings, attainable by all consumer demographics, backed by science, and communicated clearly to consumers through transparency.

Company’s most successful achievement: The Claybourne Power Pack is a product unlike any other on the market that launched on May 24th, 2019. It offers the customer a combination of products unlike anything they’ve seen in the California market to date. It includes an 1/8th of flower and a gram of high quality kief all in one re-usable rolling pouch. This is truly a product that culminated from consumer and buyer demand, thought of not by us but by our customers. We simply executed on their needs. In our opinion, there is no more perfect route to successful product development.

Has the company raised any capital (yes or no): No. We are self-funded to date.

Any plans on raising capital in the future? Yes. We are in the middle of closing our first Angel Round at a $1M raise, with a Series A on the horizon in 12 months.

Most important company 5 year goal: Through product innovation, we strive to be one of the top 5 brands in California in 5 Years.

 



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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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