Jetty Extracts Archives - Green Market Report

StaffMay 18, 2022
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Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) is buying Lemurian, Inc. better known as Jetty Extracts, a California-based producer of high-quality cannabis extracts and pioneer of clean vape technology, contingent upon federal permissibility of THC in the U.S. or earlier at Canopy Growth’s election, up to 100% of the outstanding capital stock of Jetty. 

Canopy Growth will make aggregate upfront payments in the amount of approximately $69 million payable through a combination of cash and Canopy Growth common shares, a majority of which will be Canopy Growth common shares, in exchange for approximately 75% of the equity interests in Jetty, subject to certain adjustments.

Jetty is a top 10 cannabis brand in California and a top 5 brand in the Vape Category. Backed by award-winning technology, Jetty has paved the way for the most authentic and natural vape experience available to consumers. As a leader in solventless vape and a pioneer of extraction-related intellectual property (IP), Jetty has achieved strong growth over the past two years while generating positive EBITDA amidst the highly competitive California cannabis market.
“Canopy Growth is building a house of premium cannabis brands with a focus on the core growth categories that will power the market’s path forward, now including Jetty – a pioneer of solventless vapes,” said David Klein, CEO, Canopy Growth. “There are significant opportunities for Jetty to scale at the state-level across the U.S. by leveraging Canopy’s U.S. ecosystem, and we’re actively working on plans to bring the brand to the Canadian recreational market.”    

Founded in 2013, Jetty began its operations in San Diego with a focus on craft and innovation while applying a strict adherence to compliance, fiscal responsibility, environmental concerns, and community commitment (with a little time for some surfing in between). Today, Jetty’s 65-plus employees work at the company’s 14,000 sq. ft. Oakland headquarters and various other locations throughout California. The company continues to focus on its state-of-the-art production facility, utilizing the latest technology to create industry-leading extracts including award-winning Solventless Vape, Live Resin Vape, and other products. Jetty also founded and operates The Shelter Project, a need-based program that has provided over $1 million worth of free cannabis products to cancer patients.

“Jetty has put the consumer at the heart of our focus since the outset, and we’re proud to have pioneered the cleanest vape technology on the market. This agreement between Canopy Growth and Jetty is mutually beneficial and provides long-term growth opportunities for our employees and our brand. Canopy shares our vision and will support us as we bring the highest-quality Jetty products to consumers across North America and the world. We can’t wait to be a part of what Canopy is building as we continue to define the future of cannabis and introduce more consumers to what makes Jetty products so special,” said Ron Gershoni, Co-Founder and CEO, Jetty. “Along with founding members Nate Ferguson and Rob Ferguson, we look forward to continuing to lead our team at Jetty and working alongside the team at Canopy to further expand our brand.”


StaffDecember 15, 2020
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Mike McDonald brings over 30 years of leadership excellence, focusing on forging partnerships and building brands. Experienced in consumer products manufacturing, finance, marketing and sales, Mike guides Ammonite’s rapid development from a start-up to one of the most innovative hardware platforms in the cannabis industry. In addition to his role at Ammonite, Mike holds an advisor role at California cannabis pioneer Jetty Extracts and was formerly Jetty’s Chief Corporate Development Officer.  Mike is a Board Director at Solight Designs, an innovative socially conscious solar lantern company focused on direct to consumer sales, NGO disaster relief, and impoverished communities.  Mike is the former President of Concreteworks Studio, where he managed the firm’s growth from 30 to 120 employees and was responsible for the Apple, Inc, and Restoration Hardware relationships. Mike has also held leadership roles at Giant Bicycle and snow sports start-up Atlas Snowshoes, where he spearheaded the company’s acquisition by publicly traded K2 Sports.

Full birth name: Mike McDonald

Title: President

Company: Ammonite Inc.

Years at current company: 3 years at Jetty Extracts, and 1 year at Ammonite, Inc., which emerged from Jetty Extracts

Education profile: BA, Pennsylvania State University

Most successful professional accomplishment before cannabis:  

Prior to entering the cannabis world as an investor, advisor, and then Chief Corporate Development Officer at Jetty Extracts, Mike founded McDonald Development group, investing in real estate with a focus on sustainability and community. Mike was responsible for several of the first LEED Platinum residential projects in California.

Company Mission: 

Our overarching goal is to simplify the use of concentrates for the medical and recreational consumer and become the leading name in concentrate delivery hardware.

Company’s most successful achievement: 

Our landmark win is achieving our patent for the Dablicator™ oil applicator, and we have additional patents and IP protection in process. In our one year of existence, we’ve also won partnerships with leading names in California like Jetty Extracts, 710 Labs, Oakland Extracts, and Surterra Wellness in Florida.

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

Ammonite, Inc has been fully funded by operations, with no external capital raised. However, our plant-touching sister company Jetty Extracts has raised capital, mostly from friends and family and a select group of strategic investors.  

 

If so, how much?:  Confidential

Any plans on raising capital in the future? 

Ammonite is not presently planning a capital raise as it is funding its growth through operations. Jetty Extracts is planning a capital raise in 2021.

Most important company 5-year goal:

Our major business goal is to expand the number of partnerships we have with leading concentrate brands across the US and invest in sustainable solutions for packaging, while continuing to introduce additional innovative and patented oil application products.


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Malibu, CA, June 18, 2018 /AxisWire/ America’s premiere dispensary, 99 High Tide in Malibu, California and Jetty Extracts have come together for the month of June to help support several LGBTQ+ Non profits for Gay Pride Month. “As proud supporters of the LGBTQ+ community and Gay Pride Month, we are honored to team up with Jetty Extracts to do something meaningful and helpful for those in need”.  Says actress, activist and 99 High Tide CEO, Yvonne DeLaRosa Green.

If you Purchase any Jetty Reckless Rainbow product, Jetty and PAX will make a donation to  LGBTQ+ nonprofits, such as Mr Friendly, a grassroots advocacy group fighting the stigma surrounding testing, treatment, and living with HIV with a message of love and inclusivity. “Our mermaids (Cannabis Consultants) are letting all of our patients know about this wonderful  opportunity to support this great cause” says 99 High Tide General Manager, Vanessa Rodriguez.  Jetty is also currently seeking applications from California-based LGBTQ+ advocacy groups looking to share in a portion of the proceeds @ jettyextracts.com.

In collaboration with dispensaries like 99 High Tide, Jetty Extract’s “Love More” initiative will also raise awareness of LGBTQ+ needs.  Jetty’s educator and staff training director, Luna Stower shared that “We love teaming up with dispensaries like 99 High Tide who are based on principles of genuine compassion and service and leading the movement in their communities.” says Stower.  “99 High Tide are in touch with the community and they are authentic; they are the folks doing it from their heart.”

Jetty Extracts knows about heart and compassion, since day one they have been active in helping those in need as well with programs such as The Shelter project which provides cancer patients clean and safe medicinal cannabis oil at no cost to the patient. “Its a symbiotic relationship” said 99 High Tide COO/Sam Boyer. “We choose to work with brands that care about people and our planet.” “As an industry based on healing, compassion and yes, love, it is critical that we consistently show up and stand up for the most vulnerable in our communities.  Those in the cannabis industry have a very precious opportunity to show other industries that one of the most important things we can do is to help others. ” Says DeLaRosa Green.

Media Inquiries:
Vanessa Rodriguez
415.407.8056/ HighSpirtsHealing@gmail.com
Source 99 High Tide Collective- Malibu, Calif.
Related links: www.99hightide.com www.jettyextracts.com


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