Nug Inc. Archives - Green Market Report

StaffAugust 22, 2019
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Dr. John Oram is CEO and Founder of vertically-integrated cannabis company NUG, which operates the highest volume cannabis extraction facility in California, producing the majority of concentrates, vapes and other infused cannabis products sold in California under the NUG label and other leading brands. John holds Ph.D. and M.S. degrees in environmental chemistry and engineering from the University of California Los Angeles and bachelor’s degrees in analytical chemistry and biochemistry from the University of Colorado at Boulder. A veteran of the industry since the early 2000s, Dr. Oram possesses extensive knowledge on how to operate a successful cannabis company from seed to sale. Prior to founding NUG, he co-founded CW Analytical Laboratories–recognized as the most trusted analytical laboratory in the state–to establish standardized testing and certification protocols in order to ensure the safety and quality of medical cannabis.

 

Title: CEO and Founder

Company: NUG, Inc. 

Years at current company: Five (NUG was founded in 2014)

Education profile: Earned Ph.D. and M.S. degrees in environmental chemistry and engineering from the University of California Los Angeles and bachelor’s degrees in analytical chemistry and biochemistry from the University of Colorado at Boulder.

GMR Executive Spotlight Q&A:

Most successful professional accomplishment before cannabis: Prior to shifting into cannabis, I had an extremely rewarding, nearly six-year tenure as a scientist at the San Francisco Estuary Institute.

Company Mission: To set an industrywide standard from seed to sale and consistently provide consumers with innovative products that are unmatched in quality and purity, and that appeal to both experienced cannabis enthusiasts and the canna-curious. NUG has set out to control our brand every step of the way, from the cultivation and extraction to the in-store experience and customer relations. Through this vertically integrated model, we can ensure that consumers have access to trustworthy products that are the best of the best. We want to be a leader in legitimizing the industry and in the mainstreaming of cannabis. 

Company’s most successful achievement: We’re so proud to have grown tremendously since our company’s inception in 2014 and that we’ve remained profitable year after year while navigating an uncertain and ever-changing regulatory environment. 2018 through 2019 has marked a year of unprecedented growth for NUG, but perhaps the most successful achievement for our seed to sale company was fully completing the vertically integrated model by opening the first NUG retail store in Sacramento in March 2019. Our store, led by an all-women management team, features products from NUG as well as other top brands. It’s a welcoming, contemporary retail store with terrific budtenders who take part in our mission to normalize cannabis and create a safe space for people to shop for new products. 

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

If so, how much?: Yes, most recently in May 2019 we closed a $15 million Series A funding round. NUG’s Series A equity offering was originally issued to raise $10 million, but ultimately it was oversubscribed and we raised an additional $5 million, which we were thrilled about because it underscored our investors’ confidence in our leadership within the seed to sale market, as well as the company’s growth potential. 

Any plans on raising capital in the future? Yes

Most important company 5 year goal: To continue to elevate NUG’s role as a premier, diversified brand, and expand our three key pillars of manufacturing, distribution and branding, including by opening new, state-of-the-art cannabis retail stores throughout California. 

 

 

 


William SumnerMay 9, 2019
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It’s time for your Daily Hit of cannabis financial news for May 8, 2019.

On the Site

CalCannabis: Why Such a Debacle?

We were prompted to write this article by Joe Kukura’s article “Pot Growers Nipped in the Bud by Bureaucratic Bungle.” We agree with the article. CalCannabis created a gigantic debacle with its licensing of cultivators. However, a more accurate statement is, “CalCannabis is a gigantic blunder.”

Marketing Matters: More… On The Art Of Branding & Identity

Defining your brand is paramount. Define who you are, what you stand for and who you are not. Provide a relevant point of view to the market you serve and develop your brand message & voice to match it.

In Other News

Nug

Nug Inc. announced today that it has raised $15 million in a Series A Funding round. Nug initially set out to raise $10 million but the offering was oversubscribed and the company raised an additional $5 million. The company will use the proceeds from this fundraising round to expand its manufacturing, distribution and branding capacities. “This latest capital infusion represents an ongoing phase of aggressive growth for NUG and is indicative of an auspicious future, validating our team’s relentless ambition and commitment to developing top notch products, innovative services and technology,” said Dr. John Oram, CEO and Founder of NUG.

Abacus Health Products

Abacus Health Products, Inc. (CSE: ABCS) announced that it has raised $34.5 million through a bought deal offering of 2,464,450 units of the company, which includes the full exercise of the underwriters’ over-allotment option. A syndicate of underwriters, including Eight Capital, GMP Securities LP, Cormark Securities Inc., Haywood Securities Inc. and Paradigm Capital Inc. led the offering. The company intends on using the proceed from the offering for general working capital, increase international distribution of products, and to ramp up its marketing and sales programs to seek to increase retail pharmacy store locations from 1,100 to over 10,000.

Tilray

Tilray Inc. (NASDAQ: TLRY) said today that it plans to make an investment of $32.6 million to increase the company’s Canadian cannabis production manufacturing footprint from 1.1 million to 1.3 million square feet across three facilities located in Leamington, Ontario; London, Ontario; and Nanaimo, British Columbia. The investment is expected to create around 100 news jobs.


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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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