MjLink Cannabis Business News and Press
CBT focuses strictly on the business of legal cannabis for medical and recreational use and aims to provide timely information—through its website, e-newsletter, mobile app, print magazine and annual conference—to help the reader make timely, informed decisions to help them run their businesses better and more profitably. In 2018, Cannabis Business Times was named Magazine of the Year by the American Society of Business Publication Editors.
Corn, soybeans and cannabis: Those are Illinois’ three most valuable crops, with the latter responsible for $2.8 billion in adult-use sales since the state launched its recreational retail market in 2020.
While Illinois’ corn/grain market had an $11.8-billion production value in 2021, and soybeans represented an $8.9-billion market value, according to data from the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS), cannabis was next in line in the Corn Belt state.
In 2021, Illinois adult-use cannabis sales were just shy of $1.4 billion, according to monthly figures from the state’s Department of Financial and Professional Regulation (IDFPR).
But 2022 sales are on pace for a record haul. Adult-use retailers reported $126.8 million in June, bringing the year-to-date total to $750.6 million, representing a 20% increase from the first six months of last year.
While June 2022 sales dipped 2.3% from the previous month, Illinois’ adult-use retail market recorded its largest grossing four-month stretch—from March to June—since the program was established.
Sales figures for the second half of 2022 have the potential to go even bigger.
New Mexico’s adult-use cannabis sales surpassed $21 million in June and, including medical sales, the state’s licensed dispensaries sold nearly $38 million worth of cannabis products last month.
The state’s adult-use sales, which first launched in April, reached $21,201,007.71 in June, according to data from the New Mexico Regulation & Licensing Department’s (NMRLD) Cannabis Control Division (CCD).
Medical sales accounted for $16, 525,897.79 last month, bringing the state’s total cannabis sales to $37,726,905.52 in June.
RELATED: New Mexico Adult-Use Sales Hit $1.96 Million on First Day
“One year ago, on June 29th, Gov. [Michelle] Lujan Grisham signed legislation that created the Cannabis Regulation Act,” CCD Acting Director Carolina Barrera said in a public statement. “As adult-use sales remain steady, this new industry is bringing new economic opportunities for entrepreneurs and communities across New Mexico.”
The Arizona auditor general issued an update to a 2019 audit last week that says the Arizona Department of Health Services (ADHS) has been slow to enact changes to the state’s medical cannabis fund that were recommended three years ago.
The recommended changes are meant to address the misallocation of funds that were used to pay some department employees’ salaries, according to an Arizona Mirror report.
The 2010 Arizona Medical Marijuana Act (AMMA) legalized medical cannabis in the state, and since it is a voter-approved initiative, money in the medical cannabis fund—generated by medical cannabis certifications, dispensary licensing fees, civil penalties and donations—can only be used for specific purposes outlined in the law, the news outlet reported.
When voters approved Proposition 207 in 2020 to legalize adult-use cannabis in Arizona, $45 million shifted from the medical cannabis fund to various state agencies to implement the adult-use program, according to the Arizona Mirror.
While the fiscal year-end balance in the fund increased each year between 2016 and 2020, it has since decreased from its peak of more than $91.7 million at the end of fiscal year 2020 to an estimated $48.2 million for the most recent fiscal year that ended June 30, the news outlet reported.
Two groups are working to bring competing adult-use cannabis legalization measures to Oklahoma’s November ballot, and one, Oklahomans for Sensible Marijuana Laws, submitted signatures to the Secretary of State this week.
The campaign, which was required to gather 94,910 signatures to get its initiative before voters this fall, submitted roughly 164,000 signatures July 5, according to The Oklahoman.
“We’re expecting Oklahomans to say yes to this,” Senior Campaign Adviser Ryan Kiesel told the news outlet.
The statutory measure, State Question 820, would legalize adult-use cannabis for Oklahomans 21 and older. It would levy a 15% excise tax on adult-use sales, and the tax revenue generated would be split among Oklahoma’s General Revenue Fund, municipalities that host adult-use dispensaries, school districts, the court system and drug treatment programs, according to The Oklahoman.
TALLAHASSEE, Fla., July 6, 2022 – PRESS RELEASE – Trulieve Cannabis Corp., a leading and top-performing cannabis company in the United States, announced the opening of its Trulieve medical dispensary in Hurricane, W.Va. Located at 2 Putnam Village Drive Suite 2-3, the new dispensary will open its doors at 10 a.m. July 6. This is the company’s sixth retail location in West Virginia and will be open seven days a week from 10 a.m. to 6 p.m.
Grand opening festivities will be held July 9 throughout the day to include partner giveaways, deals and specials, and all registered patients will receive a 25% discount. On-site medical care specialists will be available to assist with medical card registration and certification for West Virginia patients.
“We are excited to expand medical cannabis to Hurricane while creating jobs in the area,” Trulieve CEO Kim Rivers said. “In less than a year, West Virginia’s medical cannabis program has already added nearly 10,000 patients, and we look forward to supporting this thriving community. Trulieve is committed to providing the best quality services and products for the state’s registered medical cannabis patients while strengthening community connections in this developing market.”
Trulieve patients across West Virginia can choose from a large selection of THC and CBD products available in a variety of consumption methods, including flower, concentrates, tinctures, topicals, ingestibles and more. Designed to meet every patient’s needs, the company’s portfolio of in-house brands includes Cultivar Collection, Momenta, Muse, TruFlower and more.
Last November, Trulieve opened West Virginia’s first dispensary and has since expanded its store hours to welcome patients seven days a week. The company has already opened four new dispensaries in the state this year, with plans to open three additional dispensary locations by the end of the year in Milton, Huntington and Belle.
For more information on store locations, visit https://www.trulieve.com/dispensaries/west-virginia.
]]>TORONTO, July06, 2022 (GLOBE NEWSWIRE) --PRESS RELEASE-- Tilray Brands, Inc.(Nasdaq: TLRY; TSX: TLRY), a globalcannabis-lifestyle and consumer packaged goods company, today announced thatits cannabis brand Good Supply has expanded its product offering in Québec withthe launch of Hash-Infused Pre-Rolls, in collaboration with the SociétéQuébécoise du cannabis ("SQDC"). The new infused pre-roll categorycaters to consumer demand for higher and consistent potency pre-roll options inQuébec.
Unlike astandard cannabis pre-roll, Good Supply's Infused Pre-Rolls combine the brand’sstrains, Jean Guy and Starwalker Kush, with a proprietary premium hash blend.The infused pre-rolls offer an average THC level of around 26% withapproximately two-thirds dried flower and one-third powdered hash and comes ina package of 3 pre-rolls.
]]>When Colorado legalized adult-use cannabis in 2012, and rolled out commercial sales in 2014, the emphasis on social equity was not what it is today. But that hasn’t stopped the Centennial State from filling in the gaps.
The Denver Economic Development and Opportunity (DEDO) department, which works to ensure an inclusive and innovative economy for all city residents, businesses and neighborhoods, is launching a targeted entrepreneurial program for aspiring cannabis business owners that is specifically designated to boost ownership among individuals most impacted by prohibition and enforcement policies.
The Cannabis Social Equity Technical Assistance Program is funded by $500,000 of Denver’s cannabis retail tax revenues and seeks to train and elevate residents who meet Colorado’s definition of a social equity applicant in the cannabis industry.
The program’s 10-week curriculum will include subject-matter experts on topics such as the history and politics of the industry, compliance, delivery, and hospitality, as well as marketing and best practices. Those interested in the program can learn more and register here. (The deadline for registration is 5 p.m. July 15 with the initial training session occurring on July 23.)
Through a competitive bidding process, city officials chose The Color of Cannabis (TCC) as a partner for the program. The Denver-based education center is woman-owned and experienced in providing a pathway in helping cannabis newcomers understand and navigate entry into the industry, including regulatory, legal, financial and logistical challenges associated with the space.
“We are pleased to bring our commitment to greater ownership equity in the cannabis industry to this historic program,” TCC founder and CEO Sarah Woodson said in a June 23 DEDO press release. “We’ll serve several small-group cohorts over the next year and surround them with advice, mentoring, information, and encouragement.”
Brittney Griner sent a letter to President Biden during the 4th of July holiday weekend, making a direct appeal for her freedom from Russian detention.
Griner, a two-time Olympic gold medalist and 8-time WNBA All-Star, is currently on trial for possession of vape cartridges at Sheremetyevo International Airport in Moscow, Russia. Her trial began on July 1, and she has been detained in Russia since Feb. 17.
She is currently facing up to 10 years in prison. Furthermore, fewer than 1 percent of defendants in Russian criminal cases are acquitted and, unlike the U.S., acquittals can be overturned, according to The Washington Post.
“…as I sit here in a Russian prison, alone with my thoughts and without the protection of my wife, family, friends, Olympic jersey, or any accomplishments, I’m terrified I might be here forever,” Griner writes. “On the 4th of July, our family normally honors the service of those who fought for our freedom, including my father who is a Vietnam War Veteran. It hurts thinking about how I usually celebrate this day because freedom means something completely different to me this year.
RELATED: Brittney Griner’s Drug Charge Trial Set For July 1 in Russia
Griner continues: “I realize you are dealing with so much, but please don’t forget about me and the other American Detainees. Please do all you can to bring us home. I voted for the first time in 2020 and I voted for you. I believe in you. I still have so much good to do with my freedom that you can help restore. I miss my wife! I miss my family! I miss my teammates! It kills me to know they are suffering so much right now. I am grateful for whatever you can do at this moment to get me home.”
U.S. Rep. Ed Perlmutter isn’t ready to give up on cannabis banking reform just yet.
After his Secure and Fair Enforcement (SAFE) Banking Act suffered its most recent defeat last month when lawmakers removed the measure from the America COMPETES Act, Perlmutter, a Democrat from Colorado, introduced the legislation as an amendment to the 2023 National Defense Authorization Act (NDAA), according to The Dales Report.
RELATED: UPDATE: Rep. Perlmutter Makes Final Push on SAFE Banking
This is the second consecutive year that Perlmutter has included SAFE Banking in the defense spending package.
The SAFE Banking Act, which would prohibit federal banking regulators from penalizing financial institutions for providing banking services to state-legal cannabis businesses, has passed the U.S. House six times, including twice as a standalone bill, but has stalled each time in the Senate.
Lacking the big-buck backing of past donors, Nebraskans for Medical Marijuana likely won’t have the needed signatures to put a pair of complementary legalization measures before voters this November.
Each of the campaign’s two petitions had about 67,000 signatures as of July 1, campaign chairwoman Crista Eggers said in a press release from the group, the Omaha World-Herald reported.
The grassroots initiative effort needs roughly 87,000 valid signatures (7% of Nebraska’s registered voters) for each measure by a July 7 deadline to appear on the state’s ballot. Nebraskans for Medical Marijuana is aiming to turn in 110,000 signatures per petition to provide a cushion for those that are not validated—either from ineligible handwriting or from signees who are not actually registered to vote.
“I cannot be more clear,” Eggers said in the release. “We have not reached the threshold we need, we are not working on overage, and without tens of thousands of Nebraskans signing this weekend we may not be able to submit our signatures to the Nebraska Secretary of State on July 7th.”
Eggers, whose 7-year-old son, Colton, suffers from up to 100 epileptic seizures a day, implored fellow Nebraskans to sign the petitions during a press conference June 22, when the group had roughly 60,000 signatures for each measure.
RELATED: Nebraskans for Medical Marijuana About 50K Signatures Short
Securing a cannabis business license is one of the most critical—and perhaps one of the most daunting—first steps in launching a business in this increasingly complex and competitive industry.
Here, Mackenzie Ditch Wilcox, Associate Director – Compliance/Legal at PharmaCann Inc., a vertically integrated, multistate cannabis operator headquartered in Chicago, shares insight into key components of the application process, including recruiting a team, securing real estate, establishing relationships with the local community and making your application stand out from the crowd.
Editor’s note: Mackenzie Ditch Wilcox will speak at Cannabis Conference from 11:20 a.m. to 12:30 p.m. on Tuesday, Aug. 23, on the “ALL ACCESS PASS: Create A Winning License Application” session alongside Green Rush Consulting writer and business adviser Debby Goldsberry and Tri(chome)angle owner and lead consultant Greg Huffaker. This can’t-miss session will cover how to make your application stand out from the crowd with takeaways for any new or expanding business. Visit www.CannabisConference.com for more information and to register.
Melissa Schiller: What are some of the most important components of writing a cannabis business license application? What should applicants prioritize?
Mackenzie Ditch Wilcox: I would say [they should prioritize] the different elements of the application and [understand] the weight of each element, really thinking about leveraging real estate, leveraging community, [and] focusing on where you can set yourself apart, especially in a merit-based application that has some objective and subjective scoring.
MS: What are some strategies for recruiting team members that can win over regulators?
MW: I would say [applicants should think] about balancing two main fronts. One is the necessary experience, whether that’s in cannabis itself or that’s ancillary businesses. If you’re trying to open a cultivation facility, if you have experienced horticulturists or agriculture-based individuals or security individuals, leverage those different experiences and try to find people with well-rounded backgrounds, ideally with some sort of cannabis or similar regulated industry.
The New Jersey Cannabis Regulatory Commission (CRC) met June 30 to propose permanent rules for the state’s adult-use cannabis industry, as well as to approve 81 new conditional adult-use licenses, according to an NJBIZ report.
The proposed regulations will ultimately govern the cultivation, manufacture, wholesale, distribution, sale and delivery of adult-use cannabis in the state, the news outlet reported. The rules, which will be published in the New Jersey Register Aug. 1, expand on the initial regulations that the CRC released in August 2021.
RELATED: New Jersey Adult-Use Cannabis Sales Have Commenced
“Today, the Cannabis Regulatory Commission took the historic step of proposing permanent rules for New Jersey’s cannabis industry and expanding our focus on both equity and safety,” CRC Chair Dianna Houenou said, according to NJBIZ. “The regulations approved for formal proposal will create new opportunities for entrepreneurs to join this nascent industry.”
The rules proposed last week add three license types: Class 3 Cannabis Wholesalers, Class 4 Cannabis Distributors and Class 6 Cannabis Delivery Services. The regulations also provide more flexibility for microbusinesses by clarifying that areas where cannabis is not handled—such as breakrooms and bathrooms—do not count toward the 2,500-square-foot limit put in place by the New Jersey Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act, which initially created the adult-use marketplace, NJBIZ reported.
More than 3,000 pounds of cannabis with an estimated street value of $6 million was seized by law enforcement officials executing a search warrant in April 2021 in Spring Valley, Calif.—roughly 10 miles east of San Diego.
The targeted operation, known as “Cannaland,” functioned primarily as a wholesale cannabis supplier to unlicensed dispensaries in Southern California, according to the Department of Justice’s U.S. Attorney’s Office in the Southern District of California. Cannaland also operated as an illicit cannabis retailer in its own right, serving individual customers, according to the DOJ.
In connection with that operation, Shahram “Sean” Sheikhan, 52, of Las Vegas, and Sabriana Williams, 26, of San Diego, were charged with conspiracy to distribute cannabis. Maximum penalties included 40 years in prison with a mandatory minimum sentence of five years and a $5-million fine for Sheikhan, and 20 years in prison with a $1-million fine for Williams.
Sheikhan and Williams pleaded guilty in federal court to drug distribution charges on June 30, 2022, joining several others in the district who have pleaded guilty to various drug, firearm and money laundering charges in federal court as part of an ongoing investigation by federal and state authorities targeting unlicensed dispensaries throughout Southern California.
“Over the last two years, federal and state law enforcement targeted the operation of dozens of illegal, unlicensed marijuana dispensaries in San Diego County in order to enforce the law and curtail the related crime alleged in this case,” Randy S. Grossman, the U.S. Attorney for the Southern District of California, said in a June 30 press release from his office.
The law enforcement agencies involved with the investigation include the FBI, San Diego County Sherriff’s Department, San Diego and Chula Vista police departments, and Internal Revenue Service – Criminal Investigation (IRS-CI).
Seasoned California Operators to Provide Tips for Navigating State’s Troubled Market in Free Webinar
Cleveland, Ohio, JULY 5, 2022 --PRESS RELEASE-- In response to the mounting challenges facing plant-touching cannabis business operators in California’s legal market, the producers of award-winning business publication Cannabis Business Times and its annual event Cannabis Conference will host a free, live webinar titled “Navigating California: Tips From Seasoned Operators and Experts,” on Tuesday, July 26 from 10 a.m. – 11:30 a.m. PT.
According to operators throughout the cannabis supply chain, many forces at play are making business in the state’s current climate increasingly difficult, including competition from the illicit market, overproduction, and diminishing wholesale prices. In some cases, wholesale cannabis prices in California have dropped between 50% and 70%, according to reporting by Cannabis Business Times.
The following California cannabis operators and experts will provide tips to plant-touching businesses (cultivators, dispensaries, extraction professionals) to help them navigate these and other challenges, as well as answer questions during a live Q&A period:
Topics of discussion will include the high cost of taxation and compliance, price compression, retail scarcity/imbalance, and resource-intensive sales and marketing support. The panelists will also discuss emerging technologies and business models that could help get brands in front of patients and consumers.
Register to the webinar for free by clicking here.
Pih, Sheltraw and Miranda will also be among the 90+ experts speaking in-person at Cannabis Conference 2022—the industry's leading event for plant-touching businesses—taking place August 23-25 at Paris Las Vegas. Visit www.CannabisConference.com to learn more.
PORTLAND, Ore., July 05, 2022 (GLOBE NEWSWIRE) --PRESS RELEASE-- Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF), a cannabis company specializing in retail, production, processing, wholesale, and distribution, today announces that the company signed an amending agreement July 1, 2022, to improve the terms of its previously disclosed Asset Purchase Agreement, which was originally executed on September 16, 2021, to acquire four retail stores branded Cannabliss & Co. from Acreage Holdings, Inc. for total consideration of US$6,500,000. The closing of the transaction as amended by the Amending Agreement is subject to approval by the Oregon Liquor and Cannabis Commission and the satisfaction of other closing conditions. The OLCC approval is expected to occur within the next 30 days.
“Amending the original transaction allows us to better match the considerations to be paid with the expected cashflows of Cannabliss. This transaction represents an important step as we continue to increase our presence in Oregon and refine the performance of Cannabliss’ stores under the guidance of our leadership team,” said Jeff Yapp, President and Chief Executive Officer of Chalice Brands. “We look forward to favourably leveraging this transaction to drive revenue growth for our shareholders, employees, and the communities we serve.”
Transaction Agreement
Upon execution of the Amending Agreement, Chalice Brands will acquire the assets of the four Cannabliss branded retail locations for total consideration of US$6,500,000, consisting of a US$250,000 payment already made at the time the original agreement was signed, plus an additional US$100,000 in cash at closing, offset by a deduction of US$300,000 from the Purchase Price to settle the accounts payable to Chalice Brands. Chalice Brands will pay the balance owed of US$5,850,000, by way of a 36-month secured promissory note carrying accrued interest at a rate per annum equal to 12%. Chalice Brands shall make the following balloon payments to Acreage: (i) US$1,000,000 on January 1, 2024 and US$1,000,000 on January 1, 2025, and (ii) on January 1, 2026, Chalice Brands shall pay all amounts owed to Acreage under this Note, if any.Chalice Brands acquires four Cannabliss & Co. retail locations further expanding our statewide retail footprint in Oregon to a total of 18 locations with iconic dispensary locations added such as the Fire Station store in Southeast Portland.“As stores struggle to stand out in today's increasingly competitive market, bringing Chalice Farms’ quality standards to more dispensaries makes the industry as a whole, better and more established. This acquisition marks a huge accomplishment for our team and valued partners as we increase the visibility of our commitment to the plant, planet, and people,” commented Meghan Miller, Chief Operating Officer of Chalice Brands.
“This renegotiated deal structure provides Chalice with a longer time frame to service the debt obligations while avoiding dilution to shareholders. To date, we have only recorded management fee revenue. Upon OLCC approval, we will start recognising the full revenue generated by these stores. Management is confident we can scale product mix, thus increasing margins and improve our top line to achieve positive cash flow for the transaction enabling Chalice to self-fund the acquisition,” noted John Varghese, Executive Chairman of the company. “We strongly believe consolidation is critical strategy towards being a true leader in Oregon's cannabis industry with an established platform for growth in addition markets.”
]]>EDMONTON, Alberta, June 3, 2022 – PRESS RELEASE – Aurora Cannabis Inc., a Canadian company defining the future of cannabinoids worldwide, announced that it has repurchased an aggregate of approximately CA$25.3 million (U.S.$20 million) principal amount of its convertible senior notes at a total cost, including accrued interest, of $24.3 million (U.S. 19.2 million) in cash.
The purpose of the transaction, which represents a repurchase of a portion of the notes at a 5.25% discount to par value, was to reduce the company’s debt and annual cash interest costs. Annual cash interest savings from the repurchases of the notes made from Q3 2022 onward now total $9.5 million (U.S.$7.5 million).
Aurora’s balance sheet is among the strongest in the industry with approximately $455 million in cash inclusive of the transaction announced June 3, and the company reiterates its expectation of achieving a positive adjusted EBITDA run rate by the first half of fiscal 2023.
This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.
]]>A new state law took effectJuly 1 in Minnesota, allowing for the sale of cannabis edibles and beveragesinfused with hemp-derived THC.
Under the new law, adults21 years and older can purchase “edible cannabinoid products” that contain nomore than 5 milligrams of hemp-derived THC per serving and 50 milligrams perpackage, and no more than 0.3% THC by dry weight.
According to the bill text, an“edible cannabinoid product” is defined as “any product that is intended to beeaten or drunk by humans, [and] contains a cannabinoid in combination with foodingredients, and is not a drug.”
The sale of ediblescontaining delta-8 THC and CBD were already legal in the state, but this newlaw allows for delta-9 THC—the cannabinoid that distinguishes hemp from itsfederally illegal counterpart, cannabis—to be used as an additive in ediblesand beverage products as long as it is derived from legally certifiedhemp, Duluth News Tribune reported.
The Minnesota Board ofPharmacy will be responsible for regulating such products, which must have alabel containing the serving size and cannabinoid profile serving, a list ofingredients, and the following statement: “Keep this product out of reach ofchildren,” according to the bill text.
The Bill sponsor, Rep.Heather Edelson, said in response to the passing of the legislation that she was concernedabout the safety of delta-8 already being sold in Minnesota, adding that thoseproducts were “targeting young people and contained thresholds of THC that weretoo much for the average consumer,” the news outlet reported.
It’s been another eventful year for the cannabis industry, from the House passing the Marijuana Opportunity Reinvestment and Expungement (MORE) Act for the second time, to a federal appeals court ruling that delta-8 THC is legal under the 2018 Farm Bill, to lawmakers once again failing to approve banking reform.
Here, Jonathan Havens, co-chair of Saul Ewing Arnstein & Lehr’s Cannabis Law Practice and chair of the firm’s Food, Beverage and Agribusiness Practice, shares the biggest developments he’s seen so far in 2022, as well as which industry trends stakeholders should watch during the second half of the year.
1. Continued Consolidation
Mergers and acquisitions are still driving continued consolidation in the cannabis industry, Havens said. Local operators are joining forces with multistate operators as the MSOs expand their footprint and strengthen their brand story at the state and federal levels.
“I think ending the federal prohibition on cannabis is still farther off than some would like, but it seems like these MSOs are strengthening their footprint, expanding into the jurisdictions that they … haven’t been in before because the laws just weren’t there when they first started out,” Havens said. “I think consolidation is one of the big themes we’ve seen.”
2. ‘Interesting Scenarios’ in Federal Cannabis Policy Reform
November’s midterm election raises questions about how federal cannabis policy reform efforts may play out during the lame duck period, after the elections and until the new Congress is sworn in in January.
California’s regulated cannabis market just got a little bit more competitive with the robust illicit market that has continued to flex its power in the state.
Following Gov. Gavin Newsom’s signing of a $308-billion state budget on June 30, California’s weight-based cannabis cultivation tax was eliminated—effective July 1, 2022.
The cultivation tax, which imposed a $161-per-pound rate on licensed growers—regardless of the current market value of cannabis—was abolished via Assembly Bill 195, which was attached as a trailer to the state budget.
On June 29, the California Senate passed A.B. 195 via a 34-0 vote, while the Assembly passed the measure, 69-1. Assemblymember Rudy Salas casted the lone no vote before Newsom signed the budget the following day.
Among the measures included in A.B. 195, the bill also maintains a 15% cannabis excise tax but moves the collection of that excise tax from distributors to point of retail sale by Jan. 1, 2023.
The tax reform included in the legislation will help brace the licensed industry, California Cannabis Industry Association (CCIA) Executive Director Lindsay Robinson said in a statement to Cannabis Business Times.
Name: Zoe Reece
Location: Waikato, New Zealand
Title: Founder & CEO, Ora Pharm
One word to describe your cultivation style: Process. Being an engineer, I have a big focus on process and commercialization.
Indoor, outdoor, greenhouse or a combination: Combination – currently greenhouse but soon expanding to outdoor and indoor as well.
Can you share a bit of your background and how you and your company got to the present day?
I decided to move home to New Zealand in 2019 to bring back [the] extensive cannabis industry experience [I] acquired in the U.S. I am a civil/structural engineer who graduated from the University of Auckland with Honors. After graduating, I worked in the mining and construction industries in engineering, supervising and project management roles.
At Curaleaf, [I acted as] the director of engineering and project manager, [and] reported to the chief operating officer. I played a leading role in the company’s expansion by completing the design, planning, build, and start-up of more than 80 operational facilities in the two years I was with Curaleaf. I helped secure licenses in nine states and was involved in implementing state regulations for the company in 16 states. During my time at Curaleaf, [I] had exposure to the end-to-end operation of the business, including scaling a cannabis company from a start-up to a high-volume business.
Ora Pharm started in July 2019; we received our medicinal cannabis license in New Zealand in January 2021. This month we received a government grant through Callaghan Innovation to further our R&D cultivation program. We are currently raising our Series A capital raise in order to expand our cultivation and fulfill export contracts.
What tool or software in your cultivation space can you not live without?
Safety Culture app. This has transformed our data capture process and transferred almost all paperwork processes to the digital world, helping to reduce time spent on capturing information as well as being able to review and use data a lot quicker.