John SchroyerMay 8, 2023
Former employee said FBI, DCC declined to act on the information provided.
Stiiizy Archives - Green Market Report
John SchroyerMay 8, 2023
Adam JacksonFebruary 10, 2023
Marijuana-friendly football fans are expected to restock their stashes ahead of the Sunday night showdown.
John SchroyerDecember 18, 2022
There's no shortage of lawyers ready and eager to file suit.
Adam JacksonDecember 8, 2022
Plaintiffs also are seeking an injunction to stop product sales.
Adam JacksonOctober 14, 2022
22Red started out as a lifestyle brand focused on fashion and music,
StaffAugust 26, 2022
Stiiizy opens its first store outside the state of California and chooses Michigan
Debra BorchardtJune 3, 2022
Silver Spike Investment Corp. (NASDAQ: SSIC) announced it has co-led a senior secured term loan of up to $170 million to Shryne Group Inc. Shryne cultivates, manufactures, distributes and retails branded cannabis products at scale, and owns and operates award-winning brands, including Stiiizy, the #1 brand in California and the #3 brand nationally, according to BDS Analytics.
“We are excited to support Shryne’s growth plans and strategic vision of bringing high quality and innovative products to cannabis consumers across multiple states,” said Frank Kotsen, Silver Spike Capital’s Head of Credit. “This substantial financial commitment from Silver Spike and other syndicate members, among the largest ever debt facilities provided to a private cannabis company, exemplifies our firm’s ability to provide customized financing solutions to support leaders in the cannabis sector, such as Shryne.” Silver Spike went public earlier this year and its SPAC is known for bringing WeedMaps public.
Shryne is a private company and according to its website has 18 operating retail locations in California with 13 more in the development stage. It has three distribution centers and two in the development stage. One outdoor cultivation facility in Humboldt County, two indoor grows and facilities in development. It has three manufacturing sites in operation and one in development.
“Shryne’s success to date is the result of world-class operational leadership with combined decades of experience in cannabis cultivation, production, branding, and retail,” said Jon Avidor, Chief Executive Officer of Shryne. “It has certainly been a pleasure to work with the seasoned professionals at Silver Spike to strengthen Shryne’s capital position while we continue to execute on the company’s core mission of producing high-quality cannabis products and remaining true to authentic cannabis culture.” Avidor is an attorney, founder, and investor. He co-founded World Trade Ventures, an early-stage VC firm and is licensed to practice law in New York and California.
James Kim is the Co-founder and Managing Director of Shryne. He is the co-creator of Stiiizy. He is also an Army veteran and served a 13-month combat tour in Iraq.
Julie AitchesonDecember 10, 2021In the cannabis industry, branding (which includes packaging, product makeup and thoughtful analysis of the target consumer among other things) has proven to be a major factor in promoting customer loyalty across a wide range of products. Headset’s latest report, “Cannabis Brand Loyalty: A Look At California Vapor Pens”, leads off by invoking the archival image of a plastic baggy full of musty weed traded off in parking lots and clubs. But today’s cannabis product packaging runs the gamut from the utilitarian to the wildly creative. With the horizons of the cannabis market constantly expanding, it is crucial for companies to identify the ideal consumers for their products and how to market towards them for maximum profits.
The report defines brand loyalty as the tendency of a customer to continue to purchase from one brand loyalty is the tendency of a customer to purchase from the same brand over time. To this end, using California Vapor Pen brands as a model (a product sector that sees a high amount of brand loyalty), Headset’s report investigates three different ways to measure brand loyalty. Using real-time sales reporting, Headset’s data comes directly from partner retailers. This specific report looks at purchase patterns (or how a customer shops over time) and uses the results to paint a picture of customer loyalty. The report is careful to note that both high and low brand loyalty have their merits, citing companies who have the goal of reaching new customers in the market as those with a deliberate low brand loyalty strategy that can still yield solid profits.
Headset’s first strategy for measuring brand loyalty was looking at repeat purchase rates or the percentage of customers that repurchase a brand in a set time period. In California, 45% of customers re-purchase their products after 6 months. 12.6% of these customers will only re-purchase from a particular brand while 32.6% will purchase other brands in addition to their previously chosen brand. The report highlights this as significant given that people have such varied tastes and there are so many products to choose from. STIIIZY and Plug Play two vape pen brands with markedly high brand loyalty hardware are highlighted here as they both have proprietary hardware that pushes customers to repurchase their brands. However, over 50% of both brands still purchase from other brands even if they have to purchase different batteries, reflecting the aforementioned desire for variety among consumers.
Next, the report measures brand loyalty by looking at switching behaviors, which is when a customer chooses to buy a product from a brand similar to the initial brand chosen. This is a valuable metric as it helps businesses understand their own brands, how they are perceived by their, who their greatest competitors are and why. Headset’s report looks at Legion of Bloom customers and what other brands they are purchasing. The analysis showed that nearly a quarter of Legion of Bloom’s customers purchased a STIIIZY product- valuable information for both brands when considering branding strategies and how to make themselves more competitive.
Finally, the Headset report sought to measure brand loyalty by exploring wallet share across product categories, which is the percentage of a customer’s cannabis spending that goes towards a specific brand. Nearly 40% of the average Vapor Pen consumer’s wallet share is spent on their top brand, which reinforces the high rate of brand loyalty in this product category and may prompt vape pen brands to consider strategies like proprietary technologies to capitalize on this particular market dynamic.
Debra BorchardtDecember 9, 2020
Looking back at 2020, the Brightfield Group determined the cannabis product shelf space winners. A review of the first three quarters provided a snapshot of which products cannabis consumers wanted most. This type of information is invaluable to producers and dispensary owners alike. The producers can make sure that they have these products in their portfolio and dispensaries can make sure they stock their shelves with the items that customers want.
Increased 2020 Shelf Space:
- Candy
- Cartridges/Pods
- Resin/Rosin
- Disposable Pens
- Baked Goods
Candy
Brightfield’s report found that since January 2020, the candy category has captured 12% of the shelf and in August held 14% of the shelf its largest position to date. The category has grown by 41% in 2020. The report also noted that the shelves saw a shift towards luxury and premium prices. Consumers have also been drawn to natural marketing and like options that are vegan, non-GMO, and additive-free.
Top Candy Flavors:
- Raspberry
- Watermelon
- Strawberry
- Fruity
- Chocolate
Top Candy Brands
- Cheeba Chews
- Smokiez Edibles
- Kiva Confections
- Wyld
Vapes
Despite the vape crisis of 2019, vape products commanded 22% of the shelf space for 2020. The report found that cartridges and pods grew shelf space by 3% in 2020. 74% of these products were in 500mg packages and a majority were marketed for relaxation and stress relief. The price preference was the opposite of candy, but that’s probably because vapes in general are more expensive. Budget-priced products saw an increase in shelf space and premium-priced products saw shelf space declines.
Top Vape Attributes
- Relaxation
- Stress
- Focus & Creativity
Top Vape Brands
- Stiiizy
- Jetty Extracts
- Raw Garden
- Curaleaf
- Pure Vape
- Alpine
Resin & Rosin
THC concentrates continue to win over new consumers. The product packs a bigger punch than vapes or traditional flower that typically deliver 15%-35% THC. These concentrates can provide doses of 60%-90% THC. While dabbing shatter, wax, or crumble has been the predominant concentrate method, rosin and live resin are coming on strong. Rosin is made with a solventless method that relies only on heat and pressure to extract cannabinoids and delivering a “cleaner” dab. Live resin is made with more traditional extraction methods and preserves the terpenes. This category increased its shelf space by 3%, while the shatter, wax and crumble categories fell.
Disposable Pens
Brightfield found that while disposable pens only garnered 4% of the dispensary shelf space, distribution grew by 68% in 2020. Once again, stress relief was the top choice for this consumer. The smaller products having 300mg grabbed the most space within the category and tend to be the most affordable. It’s the product of choice among the price-conscious consumer.
Baked Goods
Marijuana brownies are the OG of cannabis consumers, but the inconsistent response time for consumers make these products less desirable. Customers may react quickly or slowly after consuming a cookie or brownie and this lack of consistency is an issue. Only 3% of the distribution goes to this category. Still, in 2020 there was a 40% increase in shelf space for baked goodies.
Brightfield’s Top ten Product Launches of 2020:
- Care by Design – 8:1 Vape Cartridge
- Claybourne Co. – 501St OG Bud
- Kiva Confections – Midnight Blueberry Camino Gummies
- Stiiizy – wedding Cake Live Resin Pod
- Raw Garden Sleeroy G Pod
- Yummi Karma – YK Drops – Draft Away
- West Coast Cure – Venom Og Live Resin Sauce
- Pacific Stone – 505 Sour Hybrid Bud
- Heavy Hitters – Forbidden Fruit Cartridge
- Connected Cannabis Co. – 100% Live Resin Disposable
StaffNovember 11, 2019
November 11 is Veterans Day. Bond markets are closed for trading (stock markets are open) and it is a National holiday to honor military veterans.
Some cannabis companies are reaching out to veterans with various offers. According to recent studies, there are nearly 18 million U.S. military veterans that experience some form of mental illness, whether that be depression, anxiety, insomnia or PTSD, or physical issue. The VA is currently exploring how CBD affects symptoms of anxiety and PTSD in veterans.
Tribe CBD
Colorado-based CBD brand Tribe CBD announced its Veterans Assistance Program (VAP) to help bring affordable CBD to the Veteran’s Community. Within this program, U.S. military veterans can receive 30% off all retail prices by sharing their journey with the Tribe team and community.
“Before I created Tribe CBD I was in the Navy, and we feel very strongly that veterans need access to hemp CBD,” said Alec Rochford, Tribe CBD’s Chief Executive Officer. “No one sacrifices more than active-duty military and veterans. Because our products do not contain any THC, I wanted to create a program for veterans to get premium CBD oil at a discount simply because they deserve it.”
“I personally use our CBD tinctures every night to help with sleeping issues and back pain,” shares Alec. There are many stories to be told and voices to be heard within the Veteran’s Community that have yet to be exposed. Tribe’s Assisted Program is intended to bring light to those who have served our country while providing them access to premium broad-spectrum CBD oil and their newly-released CBD gummies at a discounted price.
For further information, visit Tribe CBD’s website to learn more about applying to their Assistance Program. To help celebrate Veteran’s across the country, Tribe has extended their 30% discount to all customers through the end of Veteran’s Day Weekend. Just use code VETERANS30 at checkout.
Stiiizy
STIIIZY – a California-based cannabis lifestyle brand – co-founded by Army veteran James Kim recognizes the incredible contribution of our veterans and wants to honor their service with a newly released camo design battery. This effort is critically important to Kim as he served a 13-month tour in Iraq as a member of the Army’s 101st Airborne Division and began using cannabis as a way of healing for his PTSD. He is pledging 20% of each camo battery sale beginning November 1 to Battle Brothers Foundation in support of their veterans disability claim programming. The nonprofit organization provides much-needed guidance to veterans transitioning back to civilian life, focusing on personal development, physical and mental well-being and economic stability to help set each veteran on a positive path for success.
Flower Co.
To celebrate Veterans Day, Flower Co. is launching a limited edition pre-roll pack in collaboration with Veterans Cannabis Group. The pre-rolls of Semper Hi are available in a 6-pack ($15 for members) or 12-pack ($28 for members) and feature the Veterans Cannabis Logo on the packaging. 100 percent of profits will be donated to the organization.
Earlier this year, Flower Co. announced a program to give US Military veterans a free membership ($119 annual value). Through FlowerVets.com, veterans can get complimentary access to Flower Co.’s unprecedented wholesale cannabis prices, bringing safe and affordable access that wasn’t previously available.
Ilera Healthcare
Pennsylvania medical marijuana company and dispensary, Ilera Healthcare, will host a free screening of Unprescribed, followed by a panel discussion, on Friday, November 15th at 6:30 pm at Greater Plymouth Community Center in Plymouth Meeting. The documentary film highlights medical marijuana (MMJ) as an alternative to the cocktail of drugs prescribed by military doctors for veterans struggling with PTSD, anxiety and other service-related health issues.
For many of our returning veterans, the battle continues out of uniform as they attempt to recover from war-related trauma through a multitude of prescription medicines. In his first feature-length motion picture, producer, director, and Air Force veteran Steve Ellmore presents us with stories from fellow veterans, spouses, and family members on coping with war-related injuries and the loss of loved ones due to suicide. After returning from combat these veterans are prescribed what many refer to as the ‘combat cocktail’ or ‘zombie dope,’ leading many to believe that suicide is a possible solution to their pain.
The film takes a closer look at medical marijuana, which could provide a safer alternative for many returning soldiers. Unprescribed has recently won the Grand Jury Prize for Best Documentary Film at the Los Angeles Motion Picture Festival, Best Feature Documentary at the 2019 Cannabis Culture Film Festival, and was the Be the Change Winner at the Colorado International Activism Film Festival. Unprescribed is also an official selection at the 2019 London Cannabis Film Festival, San Francisco Veterans Film Festival, and Honor Film Festival.
Get the latest cannabis news delivered right to your inbox
Unpack the industry with the daily cannabis newsletter for business leaders.