Presidential Cannabis Archives - Green Market Report

StaffDecember 8, 2022


The Daily Hit is a recap of cannabis business news for Dec. 8, 2022.


New York Appeals Cannabis Licensing Injunction to Second Circuit

New York cannabis regulators are taking a licensing fight to the next level – literally. On Thursday, Attorney General Letitia James filed a notice to request that the Second Circuit Court of Appeals throw out an injunction issued by a federal judge that brought retail marijuana licensing to a halt in five of the state’s regions. Read more here.

New York Regulators Choose Harlem for First Recreational Dispensary Site

The Dormitory Authority of the State of New York (DASNY) revealed the news during a meeting on Monday, when agency CEO Reuben McDaniel III said the office had signed its first lease for an adult-use marijuana store at 248 W. 125th St. Read more here.

Stiiizy Accused of Inflating THC Potency, Misleading Marketing

Counsel representing “millions” of former customers who purchased cannabis products with inaccurate THC-content labels filed the class action lawsuit against Ironworks Collective Inc. and Stiiizy LLC, saying that the companies overcharged consumers by illegally selling products whose THC content was represented as substantially higher than it actually was. Read more here.

Presidential Cannabis Accused of False Advertising on THC Claims

Another cannabis company is accused of overinflating the amount of THC in its cannabis products. The same law firm that filed the allegations against Stiiizy, Dovel & Luner, is also accusing VO Leasing Corp., which makes, sells, distributes, and markets the “Presidential” brand. Read more here.

Brittney Griner Gets Released from Russian Prison

Several news outlets reported that professional basketball player Brittney Griner was released from a Russian prison as part of a prisoner swap. President Joe Biden announced on Twitter that he had spoken to Griner and that she was safe and on her way home. Read more here.


The Flowr Corp.

The Flowr Canada Holdings ULC , a subsidiary of The Flowr Corp., has entered into a binding agreement with Avant Brands K1 Inc, formerly, 1000343100 Ontario Inc., pursuant to which Avant will acquire all of the shares of The Flowr Group (Okanagan) Inc. and certain other assets of the company, comprising substantially all of the assets of the company, for total consideration of $5,115,000 plus the amount of the closing DIP loan and the assumed liabilities. Read more here.

Cannabis Global Inc.

Cannabis Global, Inc. (OTC: CBGL), a licensed Los Angeles-based manufacturer and distributor in the cannabis sector, announced the successful conclusion of debt settlement negotiations with two debtholders resulting in the elimination of approximately $813,000 of long-term debt from the company’s balance sheet. Read more here.

Jushi Holdings Inc.

Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multistate cannabis operator, closed its previously announced private offering of approximately $69 million aggregate principal amount of its 12% second lien notes and detached warrants to purchase up to approximately 16 million of the company’s subordinate voting shares at an exercise price of $2.086. The company used the gross proceeds from the offering together with approximately $9 million of cash on hand to repurchase and redeem all of its outstanding existing 10% senior secured notes due January 2023. Read more here.

StaffFebruary 23, 2022


Presidential Cannabis

Everett Smith – Co-founder & CEO of Presidential Cannabis. “We are 1 of the largest infused flower companies in California. Fully compliant with California cannabis regulations for cultivating, manufacturing, and distribution of a brand. Currently in over 240+ retail locations in California. As of May 1, 2021 Presidential is the 3rd largest infused Preroll Brand in California, we currently have the number 1 selling infused Blunt in the California market, as well as being the number 1 Moon Rocks brand in California! (According to BDSA Analytics and Leaflink Insights.)”

“I am a college graduate and a retired professional basketball player. I’ve consulted in the cannabis industry for the last 8 years specializing in brand development, strategic marketing, market-specific brand analysis, media and packaging design, regulatory compliance, vendor procurement, and quality to scale with the introduction of a brand. I have Negotiated key service, packaging, and distribution contracts. Currently negotiating licensing agreements in multiple US states.”

When did you formally enter the cannabis space?

I formally entered the Cannabis space in 2013 in the California medical market. We officially launched for adult use in October 2018.

What made you decide to work in the cannabis industry?

Pure chance! I met someone in 2012 who was talking to me about starting a cannabis business in California. I had just retired from playing professional basketball in Europe and wanted to do something exciting other than working a regular 9-5, so I hopped on the opportunity and it has been the absolute best decision I have made for myself.

Do you feel there is more opportunity for Black Americans in the cannabis industry versus a more traditional industry? Yes or no and why?

While the opportunity for Black Americans to get involved with the cannabis industry is improving, there is still not nearly enough, and once we do get involved, there aren’t many programs to help us succeed. We need to teach each other the fundamentals and pitfalls of the cannabis industry. I had to go to the school of Hard Knocks and learn on the job by repeatedly bumping my head over and over. Luckily I had a good mentor and business partner in John Zapp to help guide us through the hurdles we have encountered. I feel there is a lot of support in public and on social media for Black and Brown inclusion, but the numbers don’t seem to add up in terms of actual opportunities and financial support.

What is the most successful social equity effort in your opinion? Can be a charity or company program. 

I’m not sure you can count any of them as successful yet. I mean that respectfully, and don’t want to disregard anyone on the frontline trying to further the cause for Black and Brown inclusion. However, we still don’t have the inclusion and participation we should have. I have personal experience with the city of Los Angeles social equity program and it’s not set up for success. From what I can tell it seems that the city of Oakland has done, or is doing, a decent job with its social equity programs. A lot of the Black-owned businesses in the California sector seem to be coming out of incubators in Oakland. I am not in the mix in Oakland to see what the true problems are, but like I said from my view, in comparison with Los Angeles, they seem to be further ahead in terms of their programs.

What is your personal goal for 2022?

My personal goal for Presidential is to expand east. Our goal is to launch in four new states this year. This, along with expanding our product line and continuing to collaborate with the best growers and manufacturers to turn the best products into quality MoonRocks!

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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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