MjLink Cannabis Business News and Press
Indoor cannabis cultivation facilities in Massachusetts are consuming about 10% of all industrial electricity consumption in the state, according to an estimate from the Northeast Sustainable Cannabis Project.
The estimate is based on current indoor cultivation lighting standards and the assumption that half of the growing canopy square footage authorized for use is currently in use. Massachusetts' Cannabis Control Commission has authorized more than 1.1 million sq. ft. of indoor cannabis cultivation - compared to 285,000 sq. ft. of outdoor cultivation - according to the commission's licensing data.
"Since the cannabis sector could triple in size by the time supply and demand level out, the impact is likely to be quite a bit larger," said Sanford Lewis, general counsel for NSCP. "So this means that just as other industries are working hard to curtail their climate impact, energy-intensive indoor cannabis has come along to undermine the Massachusetts goal of reducing greenhouse gasses emitted."
Editors' Note: Information for this article was originally published in Worcester Business Journal. The full story can be read here.
]]>When the second-largest employer in the U.S. publicly supports cannabis reform, stakeholders take notice. So do the stock markets.
In a statement to U.S. operations employees on Tuesday, Amazon’s Dave Clark, CEO of its Worldwide Consumer business, said the company will be eliminating its drug testing policy for many workers—notably for any positions not regulated by the U.S. Department of Transportation.
“In the past, like many employers, we’ve disqualified people from working at Amazon if they tested positive for marijuana use,” Clark said. “However, given where state laws are moving across the U.S., we’ve changed course. We will no longer include marijuana in our comprehensive drug screening program for any positions not regulated by the Department of Transportation and will instead treat it the same as alcohol use. We will continue to do impairment checks on the job and will test for all drugs and alcohol after any incident.”
Clark went on to say that Amazon supports passage of the Marijuana Opportunity Reinvestment and Expungement (MORE) Act, legislation that aims to legalize cannabis at the federal level while also expunging criminal records and investing in communities most impacted by prohibition. The MORE Act was reintroduced in the U.S. House on May 28.
In the wake of that Amazon statement, Canadian cannabis companies Tilray Inc. and Sundial Growers Inc. embarked on a two-day rally on the Nasdaq Stock Market.
When the market opened Tuesday—the day of the Amazon statement—Sundial’s shares (SNDL) were valued $1.06. Since then, the stock surged more than 38% at its highest point of $1.47 Thursday morning.
Amazon will no longer drug test employees for marijuana and supports the passage of the Marijuana Opportunity Reinvestment and Expungement (MORE) Act of 2021, the company said in a statement this week.
"We're adjusting our drug testing policy," Amazon says in its statement. "In the past, like many employers, we've disqualified people from working at Amazon if they tested positive for marijuana use. However, given where state laws are moving across the U.S., we've changed course. We will no longer include marijuana in our comprehensive drug screening program for any positions not regulated by the Department of Transportation, and will instead treat it the same as alcohol use. We will continue to do impairment checks on the job and will test for all drugs and alcohol after any incident."
In addition, Amazon expressed public support for the passage of the MORE Act, which would legalize marijuana at the federal level while also expunging criminal records and investing in communities most impacted by marijuana prohibition.
"We hope that other employers will join us, and that policymakers will act swiftly to pass this law," Amazon says.
Cannabis industry associations applauded Amazon's decision to eliminate drug testing for marijuana and the company's support for the MORE Act.
"As the United States' second-largest private employer, Amazon committing to no longer test those of its 1.3 million employees not regulated by DOT for marijuana - and publicly supporting the MORE Act - is a huge step forward in eliminating one of the main ways the drug war has robbed so many of their livelihoods," says Kassandra Frederique, executive director of the Drug Policy Alliance. "Drug testing has never provided an accurate indication of a person's ability to perform their job, and yet this incredibly invasive practice has locked out millions of people who use drugs - both licit and illicit - from the workplace.
MANITOWOC, Wisconsin, June 2, 2021 - PRESS RELEASE – Dramm now offers 50 and 100 gallon FertiCarts with agitation forlarger fertigation needs. For years, Dramm has offered smaller FertiCart Injector Carts in20 gallon and multi-tank versions. Great for outdoor fields or areas where separate injection isrequired. The new FertiCarts are available with battery-operated recirculation agitation tokeep chemicals and fertilizers in solution. The larger FertiCarts are designed for use with the20 and 40 gpm Dosatron injectors and come complete with all plumbing, including a 200mesh filter and check valve to prevent damage from water hammer.
Dramm was founded in 1941 with the creation of the 400AL Water Breaker. This toolwas developed to modify and improve the water that growers used in growing their plants.Today, more than 75 years later, Dramm still focuses on improving the water growers usedaily, whether it is with one of Dramm's wide variety of watering tools, automatic irrigationsystems, chemical application systems, humidity management systems or watertreatment and management systems.
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If you scoop your fingers through layers of fresh, moist soil and look closely, you may notice the soil moves, crawls and even seems to breathe with life. There are more living organisms in a teaspoon of healthy soil than there are living people on Earth. Microbes, fungi, bacteria and insects are a few of the billions of hungry critters consuming and excreting their way through a living web of life within the soil.
This is why some indoor cannabis growers are embracing organic living soil methods. Organic living soil allows a plant to easily access which essential nutrients it needs when it needs them. The microorganisms exchange nutrients and microlife with the plants, creating a symbiosis in the soil that will continue perpetually. Growers mimic this natural balance indoors using a base soil and adding amendments and inoculants filled with fungi, bacteria, beneficial insects and other microlife. Healthy, balanced soil will make available all of the nutrients necessary for an eager, hungry hemp seed while keeping pests and disease at bay without the use of harsh pesticides or herbicides.
Take advantage of the below tips at your indoor growing facility so you can ensure your living soil will continue to give back to your cannabis plants day after day, week after week, and season after season.
Tip 1: Get a Base
The first step to maintaining a healthy living soil according to Chris Teeters, director of cultivation at Harbor Farmz in Michigan, is to have a good base. He’s not just talking about base soil, but also a base of knowledge and experience about growing organically. Take some time to understand the systems of microbes that are responsible for keeping the soil alive and nutrient-dense for your plant, called the soil food web.
“Learn how to create a good base soil. Read about it, find a recipe that will work for you,” Teeters said. Research is important, as living soil can be a scientific process. But learning through experience is just as important as reading up. “Don’t get too wrapped up in, what I call, ‘analysis paralysis,’” he said. “A lot of people will get stuck on what they’re reading and what’s going on in their head that they forget to just learn through application and observation.”
Base Soil
Base soil is the foundation of your living soil. You can buy premixed recipes of living soil online, but Teeters recommends finding a local compost or soil business where you can see and touch the soil. They will also have a good understanding of soil mixes that will work well in your local environment. Most living soil recipes are a combination of peat, aeration (like pumice) and compost.
Louisiana medical cannabis patients may soon have access tosmokable cannabis products, as the state legislature passed a bill May 27 toexpand the program’s eligible product list.
This move follows the state taking a step toward decriminalizingcannabis and legalizing it for adult use after the House advanced threeadditional cannabis reforms in early May.
RELATED: Several Cannabis Reforms Advance in Louisiana, Including a Decriminalization Bill
Under the current legislation, medical cannabis patients cannotaccess whole-plant flower, and smoking is prohibited; however, patients canvaporize cannabis preparations using a “metered-dose inhaler.” A “meter-doseinhaler” is a device that is typically self-administered by the patient anddelivers a specific amount of medication to the lungs, according to the bill text.
The new measure would permit physicians to recommend medicalcannabis to patients in raw or crude form (or flower) and limit dispensing ofcertain forms of medical cannabis. It would also establish medical cannabisrules and regulations for the Louisiana Board of Pharmacy, the bill textstates. The Senate passed the measure, House Bill 391, in a 23 to 14 vote.
OAKLAND,Calif., June 1, 2021 – PRESS RELEASE – Harborside Inc., a California-focused, verticallyintegrated cannabis enterprise, announced it has signed a definitive agreement toacquire 100% of the issued and outstanding equity of Sublimation Inc. ("Sublime"),an award-winning cannabis manufacturing company located in Oakland, Calif., fora total consideration of U.S. $43.8 million. The acquisition is expected toclose, subject to customary closing conditions, in July 2021.
Foundedin 2016, Sublime is best known for its expansive line of high-potency,high-quality and affordable, Fuzzies branded pre-rolls, a leading brand ofpre-rolls in the state of California, as well as vapes and roll-your-own flowerkits. Since 2019 Sublime has delivered a revenue compound annual growthrate (CAGR) of approximately 70%, and ended 2020 with 7.9% California pre-rollmarket share, according to BDS Analytics.Sublime is strategically positioned for continued growth as pre-rolls are thefastest growing cannabis sub-segment within the California market since thebeginning of 2020.
Uponcompletion of the acquisition, Harborside expects to realize significantsynergies by bringing together Sublime’s brands, production capabilities androbust distribution system with the high-quality cannabis grown at the company’sSalinas, Calif. cultivation facility, which is anticipated to result inadditional gross profit and earningsbefore interest, taxes, depreciation and amortization (EBITDA) byextending the reach of Sublime, Harborside and Key branded products throughoutthe state. Harborside also expects to bolster Sublime’s marketing capabilities,which is expected to drive higher retail margins for the company as an ownedbrand within its portfolio. Finally, Harborside will seek to license theFuzzies California lifestyle brand in additional legal adult-use markets acrossthe country, particularly those that do not currently have high potency infusedproducts.
“Thisacquisition adds an iconic, award-winning California brand, with an exceptionalproduct offering and consumer following, to our growing brand portfolio,” HarborsideInterim CEO Peter Bilodeau said. “Harborside has been a customer of Sublime formany years, and we know the quality of their products. With the existingproduction capacity and soon to be completed upgrades at our Salinascultivation facility, we are well-positioned to support the continued growth ofthe Sublime brands while expanding the reach of Harborside’s existing brandedproduct portfolio in both the retail and wholesale markets, which we expect toultimately drive increased profitability across our entire business. We’re veryexcited to continue to provide consumers with innovative, high-quality productswhile delivering strong value for our shareholders. The company will issuenew guidance in due course.”
SublimeCEO Ahmer Iqbal said, “Harborside is known for being an innovative pioneerwithin the California cannabis market and has garnered a long-term reputationacross the state for being a leading retailer and producing high-qualityproducts. As a leader among California brands, we are thrilled that Sublimewill join the Harborside owned-brand portfolio, leveraging their production andretail capabilities to further expand the distribution of Sublime productsthroughout California.”
TransactionDetails
We have all read the headlines and press releases touting an acquisition with a fit so seemingly perfect it feels predestined. It may be true in some cases that two businesses just “found” each other. However, it is more likely that a solid acquisition is the result of a calculated process on both sides of the deal. To put it bluntly: Good acquisitions do not materialize out of thin air.
Do not depend upon your amazing product or service offering, no matter how revolutionary, to reel in the deals alone. Do not believe that your own hype will raise the interest of potential buyers. Do not feel that you will be one of the rare companies that just “finds” its perfect match. If you are pursuing an exit strategy of acquisition, you had better be thinking with an acquisition mindset and planning to make it occur.
Developing a roadmap to acquisition may seem a little daunting, but the process can actually be fairly simple—if not easy. It can be summed up in four critical steps which, when followed, will dramatically increase your chances of success. These are the signs that say you are serious about being acquired.
Step one: Create a strategy
It might seem like an obvious first step, but you would be surprised by the number of business leaders who do not follow, or even possess, a clear, articulated strategy. I am convinced that without one, any success a company meets is purely by chance. The power of a great idea or an incredible product can only take you so far. You need a North Star to guide you.
But creating a strong strategy that accurately reflects what your business offers and how it can be leveraged for acquisition is not always easy. The temptation to exaggerate strengths and downplay weaknesses can be strong. Your strategy must address what makes your business attractive while honestly acknowledging where it falls short, and how the business can make up for these perceived shortcomings. When developing a strategy that will take you to acquisition, pie-in-the-sky thinking must be tossed aside in place of stone-cold reality.
Christopher Jensen, cofounder and treasurer of the National Cannabis Roundtable (NCR), says the work the trade association has done on the Secure and Fair Enforcement (SAFE) Banking Act is just one example of the behind-the-scenes efforts the industry group does on a regular basis to push cannabis reform.
“It’s not just a trade association that monitors what’s happening on the Hill and reports back to their members. We’re doing a lot of the work,” says Jensen, who is also co-founder and CEO of Mana Supply Co., a medical cannabis company based in Maryland with locations in Missouri and Colorado. “And that was really attractive to me, to be able to sit down and not only spend the time explaining, educating, doing tours, doing things to help legislators understand what the issues were, but I really liked the notion that we were going to be so involved in policy itself.”
Now that the SAFE Banking Act is on its way to the Senate, where there is hope it will finally pass after making its way through the House multiple times, Jensen explains what NCR is focusing on next.
Michelle Simakis: What has been the National Cannabis Roundtable’s (NCR) priority most recently?
Christopher Jensen: We’ve done a lot of work on the SAFE Banking Act over the past couple of years. It’s come out of the House and we’re looking for a place for a place for that bill in the Senate.
[NCR helped] legislators with all the background information, and we got an alliance with the American Bankers Association … getting them all the information they needed to get to the place [the bill] is now, which is a banking bill that with bipartisan support very easily made it out of the House, and we do expect bipartisan support out of the Senate side.
More and more, colleges and universities are jumping into the cannabis space and offering some sort of pathway to a new career. This past week, we covered the news out Syracuse University that Green Flower is helping to power a certification program for students interested in the industry.
It’s a sign of normalization, that key word that means so much.
As the wave of cannabis legalization continues, so too will the number of job opportunities continue to rise. And that translates to more businesses helping to propel the cannabis market to a better, more inclusive arena.
We’ve rounded up some of the major cannabis headlines from the week right here.
Assistant Editor Andriana Ruscitto reports on how “University College at Syracuse University, the academic college of continuing education and professional studies, has partnered with Green Flower, a cannabis education association, to offer four programs where individuals can receive non-credit certificates in Cannabis Education.” Read more “Founded by co-CEOs Michael Horner and Chris Leonard in 2019, Cannavia is vertically integrated and fully owned by its farmer and producer members. It’s pillared to help smaller farms own their brands, build equity and retain the legacy culture that helped create the cannabis space in the first place,” Associate Editor Tony Lange writes in his feature on Cannavia’s recent work. Read more CULTA, in Maryland, launched its tissue culture program this week. “Plant tissue culture is not a hard process to do, but it takes a lot of knowledge and skill to master,” CULTA Tissue Culture Lab Supervisor Isaac Fisher said. Read more “Rural New Mexico will soon be the home to one of the nation’s largest cannabis manufacturing and research facilities, Gov. Michelle Lujan Grisham and Bright Green Corp. announced Monday.” Read more Keef Brands announced that Travis Tharp will be taking over as CEO, so we talked with him about where he sees the beverage market segment going. Read moreAnd elsewhere on the web, here are the stories we’ve been reading this week:
Santa Ynez Valley News: “Arguments a community organization has used to challenge Santa Barbara County cannabis cultivation permits suffered a minor blow Tuesday when a Superior Court judge rejected them in a petition for a writ of mandate focused on a Buellton area operation.” Read more GreenState: “Thanks to the legalization of medical marijuana, cannabis-related arrests in Missouri’s state parks have dropped by 60% last year.” Read more Syracuse.com: The recent NY Cannabis Insider Live event featured a number of speakers from New York. “If there was one recurring theme to the entire presentation, it was the importance of the law’s social equity provisions.” Read more WSBT: “Green Stem in Niles, Mich., is aiming to help small businesses by working with them and getting the community involved. It's an initiative to help other businesses and also defeat the stigma surrounding cannabis.” Read more Denver Post: “Workers at two Longmont, Colo., cannabis companies unionized this week, a move the labor organization hopes sets a precedent as the first-ever national union contract for CBD workers.” Read more ]]>The competition just got stiffer among leading licensed producers vying for a top spot in the adult-use cannabis market in Canada.
HEXO Corp., an Ottawa, Ontario-headquartered consumer packaging goods cannabis company, announced May 28 its definitive agreement to acquire Redecan, Canada’s largest privately owned licensed producer. HEXO promoted the C$925-million deal as one that will help propel the company to its goal of being the No. 1 licensed producer by market share in Canada.
The acquisition comes on the heels of two other major deals by HEXO this year, including all-share acquisitions of Zenabis Global Inc. to the tune of $235 million in February and 48North Cannabis Corp. for $50 million earlier this month.
Founded in 2013, HEXO’s $925-million acquisition of Redecan will be its largest deal yet, CEO Sébastien St-Louis told Cannabis Business Times.
“Well, I’ve never been afraid of price tags,” he said. “What I look for is what’s the fundamental value. [Redecan] had the best growth in the whole industry. So, 169 percent growth year-over-year. They’re the most profitable licensed producer in the industry. And there was a beautiful product overlap. So, from that perspective, it was a hard opportunity to say no to.”
When the transaction closes—expected in the third quarter of 2021—HEXO will hold approximately 17% of the adult-use market share in Canada, according to St-Louis. That percentage, he believes, would provide HEXO a bigger piece of the Canadian market than the Tilray-Aphria combo, which closed a megadeal earlier this month, he said.
Today House Judiciary Committee Chairman Jerrold Nadler (D-N.Y.) reintroduced the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act to the U.S. House, legislation that would federally legalize cannabis and encourage social equity in the industry.
The measure would "decriminalize and deschedule cannabis, to provide for reinvestment in certain persons adversely impacted by the War on Drugs, to provide for expungement of certain cannabis offenses and for other purposes."
Nadler introduced the first version of the MORE Act in July 2019, and the House passed it in a 228-164 vote on Dec. 4, 2020; however, the measure did not make it through the Republican-controlled Senate.
Since Nadler last introduced the MORE Act to Congress, numerous additional states across the U.S., including New York, New Jersey, Virginia, Illinois, Montana, Arizona and more, bringing the total number of U.S. states that have legalized cannabis to 17.
And Americans have also recently shown support of federal legalization, as 70% of voters favor federal legalization, according to a recent poll from the U.S. Cannabis Council (USCC).
"I'm proud to reintroduce the MORE Act to decriminalize marijuana at the federal level, remove the needless burden of marijuana convictions on so many Americans, and invest in communities that have been disproportionately harmed by the War on Drugs," said Nadler in a press release.
Cannabis beverages are becoming a more visible product category, particularly as dispensaries begin adding adequate cooler space for brands entering the space. For Keef Brands, which has been around for years, the evolution has been steady—moving through medical markets, allowing patients to become acquainted with the product, and then getting familiar with the burgeoning adult-use landscape in the U.S.
Keef Cola originated in Boulder, Colo., in 2010, with a keen eye to the many adaptive shifts that were coming in the cannabis market. Eventually, just based on how humans interact with one another, the market would embrace cannabinoid-infused beverages. With $2.9 million in U.S. sales in Q1, according to Headset, Keef Brands makes up a large part of what remains a small (but growing) market segment.
Travis Tharp was named CEO after serving as president and COO. Here, we spoke with Tharp about the state of the cannabis beverage segment and what we can expect next.
Eric Sandy: What’s the current scope of Keef Brands in the U.S.?
Travis Tharp: We're currently in seven states, plus Puerto Rico, and those are Colorado, California, Arizona, Oklahoma, Missouri, Maine and Ohio. We launched our three latest markets of Ohio, Maine and Missouri in the first quarter of 2021, and we've been very pleased with the acceptance that those people have welcomed us to in all of these states. We've had really great partners in all of these, because we have to work with a manufacturer in each area. You have to set up your entire ecosystem in each state, and we've been very fortunate to have some wonderful partners over the years. This latest group is no exception.
ES: How does Keef Brands navigates the differences between medical and adult-use markets?
John Fetterman, Lieutenant Governor of Pennsylvania, launched his U.S. Senate campaign earlier this year with cannabis legalization on the forefront of his political agenda. With more than a dozen states across the country having legalized adult-use and/or medicinal cannabis in recent years and months, Fetterman is pushing for legalization not just in his home state, but at the federal level, too. Cannabis Business Times caught up with Fetterman as he ramps up his Senate campaign and his push for cannabis adult-use legalization.
Zach Mentz: As someone who is running for U.S. Senate in 2022, what are your priorities as a lawmaker and how does cannabis legalization fit into that?
John Fetterman: [Cannabis legalization] is a no brainer. I would challenge anybody to come up with a public policy decision that would generate more revenue, jobs, freedom and justice than just simply saying yes to a plant. It's not about re-making health care. It's not about some complicated infrastructure. It's just saying, ‘Okay, we're not going to arrest anybody anymore for weed. We're going to make it a legitimate business and reap billions and billions and billions in free money that's already being given to the cartels in places where it's illegal, and we're going to expunge the criminal records of anyone that's ever had their lives damaged by this ridiculous prohibition.’ All it means is saying yes to a plant. It's pretty simple.
ZM: You mentioned plenty of people that have had their lives negatively affected by this prohibition and have been in jail for years. And that’s largely a minority communities.
JF: It disproportionately impacts people from those communities. And there's literally no good reason for it. None. I don't know how you can compartmentalize your brain and say you'd be adamantly opposed to the prohibition of alcohol but you're you support prohibition of marijuana, given that alcohol kills close to 90,000 people every year and creates all kinds of extra finalities on society, yet marijuana with no overdose deaths … it doesn't make any sense to me.
ZM: From your perspective, are there any state models that you'd like Pennsylvania to follow? Any states you think are doing a great job?
SANTA FE, N.M., May 24, 2021 – PRESS RELEASE – Rural New Mexico will soon be the home to one of the nation’s largest cannabis manufacturing and research facilities, Gov. Michelle Lujan Grisham and Bright Green Corp. announced Monday. A $300-million investment in a state-of-the-art agricultural ecosystem on company-owned property in Grants—about 70 miles west of Albuquerque—will use the latest technology and automation, delivering consistency and purity to the production of high-quality cannabis for the advancement of medical research.
The project is expected to create more than 170 construction jobs and an initial 200 research and agricultural jobs.
“I couldn’t be more excited about the development of another world-class research facility right here in New Mexico,” Lujan Grisham said. “New Mexico as a state has a legacy of leading in research and science. And Bright Green is an exciting partner that I’m glad has chosen to make an impact here in our state. We have the talent, workforce and innovative spirit to make this forthcoming new industry a complete success. Investments like this one make me even more optimistic.”
Bright Green Chairman Terry Rafih said, “Gov. Lujan Grisham, New Mexico’s federal delegation and the local and tribal communities in Cibola County have worked with us from the beginning to create the right environment for innovation and research and we are excited to finally share news of this investment with the rest of New Mexico.”
“With the cooperative spirit of federal, state and business we found in New Mexico, we will see New Mexico and Bright Green Corp. become leaders in this emerging field of medical research,” said Lynn Stockwell, the majority owner and controlling stockholder of Bright Green.
Based in Grants, Bright Green (BGC) was approved by the Drug Enforcement Administration (DEA) to facilitate the production, storage, packaging and distribution of medical research cannabis under the new regulations, as well as other applicable legal standards and relevant laws. BGC executed a memorandum of agreement with the DEA last week.
CHICAGO, May 27, 2021 – PRESS RELEASE – Global insurance brokerage HUB International (HUB) continues to strengthen its cannabis capabilities with the appointment of Bradley Rutt as U.S. cannabis specialty leader. Rutt will work alongside Jay Virdi, HUB chief sales officer of cannabis specialty, in supporting the practice strategy nationally.
Rutt will play a leading role in continuing the growth of HUB’s U.S. presence in the cannabis industry. As more states continue to legalize cannabis and with the continued rapid innovation of the industry, his focus will be on enhancing cannabis insurance solutions and risk services, further developing cutting-edge resources for clients to support their needs, and attracting and retaining talent to deepen knowledge and expertise to help cannabis clients thrive.
As senior vice president at HUB, Rutt specializes in cannabis executive liability. He has worked with several large public and private management services organizations in designing tailored insurance programs and risk management programs. Before joining HUB, he was vice president and partner at Elkins Jones Insurance Agency in Los Angeles. Elkins Jones was acquired by HUB in 2017. Rutt is a licensed attorney and admitted in California.
“Brad is an industry leader, and his diverse experience and deep understanding of the cannabis industry to insure its unique risks will play a critical role in continuing to strengthen our practice,” Virdi said. “More importantly, we continue our commitment as trusted advisers to our clients to provide them with relevant support and solutions to help them continue to grow.”
]]>DENVER, May 27, 2021 – PRESS RELEASE – GrowGeneration Corp., the nation’s largest chain of specialty hydroponic and organic garden centers, today announced the appointment of Paul Rutenis as chief merchant officer (CMO), effective June 21, 2021.
Rutenis’ two-decade career in retail spans management positions at several large public companies, including Dick’s Sporting Goods, West Marine, JC Penney and RadioShack. Rutenis received his bachelor’s degree from Clemson University and holds an Master of Business Administration (MBA) from the University of St. Louis.
“We’re pleased to bring a seasoned merchandising executive of Paul’s caliber to the GrowGeneration team,” GrowGen CEO Darren Lampert said. “Paul has years of experience leading retail and merchandising strategy for some of the nation’s largest retail chains. His insights will be invaluable as GrowGen continues to scale and build a national chain of hydroponic garden centers and best-in-class private-label brands.”
Rutenis served as executive vice president at West Marine from 2015-2018, where he helped grow the top and bottom line by successfully moving the company to an omnichannel format that enhanced the company’s brick-and-mortar format. At Dick’s Sporting Goods, from 2006 to 2011, he helped drive sales and gross margin expansion in private label and branded products.
“I'm honored to join GrowGeneration’s leadership team at this time of record growth and expansion,” Rutenis said. “GrowGen is uniquely positioned in one of the most exciting and dynamic emerging industries in the country, and I look forward to helping build GrowGen’s national brand and portfolio of private-label products.”]]>Following New York legalizing adult-use cannabis in March, one university is already working to meet the growing demand for qualified and educated professionals in the emerging industry.
University College at Syracuse University, the academic college of continuing education and professional studies, has partnered with Green Flower, a cannabis education association, to offer four programs where individuals can receive non-credit certificates in Cannabis Education.
The four programs are: Healthcare and Medicine, Cannabis Law and Policy, The Business of Cannabis, and Cannabis Agriculture and Horticulture. Each course is six months and includes three eight-week online classes.
Individuals do not have to be a student at Syracuse to enroll in the course. University College Dean Michael Frasciello said the university expects the primary student population to be individuals already in the industry looking to upskill and further educate themselves or people looking to enter the industry. However, he suspects that more university students will show interest in the programs over time as the cannabis industry continues to expand.
Frasciello gives a general overview of each program:
The Cannabis Law and Policy program will cover business practices, U.S. Food and Drug Administration (FDA) regulation, future opportunities in related career fields, intellectual property, social equity, labor law, environmental law and consumer law, including advertising, labeling and packaging, he said.
LAS VEGAS, May 25, 2021 – PRESS RELEASE – Hervé, maker of luxury French-inspired and cannabis-infused desserts, announced the successful close of its oversubscribed $3 million Series A round of funding. This raise will accelerate Hervé’s growth and support new opportunities across the rapidly growing cannabis industry.
Since its launch in February 2020, Hervé has created an entirely new category of edibles for the discerning cannabis consumer. In Nevada, dispensaries welcomed Hervé as a refreshing new category in the market that addressed the growing demand for higher quality cannabis products. The company’s portfolio launch included three exquisitely flavored gluten-free French macarons, which outsold all premium edibles in the market and commanded retail prices on average two to three times higher than competing products. Strong demand for additional flavors resulted in Hervé expanding the portfolio with two new flavors in mid-2020.
Following its macarons, Hervé launched its Le Mirage collection of four gluten-free and vegan hard candies. Le Mirage candies are completely free of processed sugar, feature all-natural ingredients, offer sublingual faster-onset and boast fewer than two calories per serving. Flavors include menthe (peppermint), pêche (sour peach), pomme verte (sour green apple) and cerise (cherry). The Le Mirage collection features a patent-pending dispensing system that enables discrete consumption for any occasion.
Having established itself as a leader in luxury cannabis products, Hervé is now focused on expanding its winning formula to other markets. With the additional capital, Hervé will launch in two new cannabis markets before the end of 2021 and expand into three additional markets in 2022. The funding will also be used to add both new flavors of existing products and new products altogether to Hervé's product portfolio.
"While we originally set out to create a new category of cannabis edibles, we never expected that we would already be introducing new products and planning our expansion within a year of launch," said Sebastien Centner, founder and president of Hervé. "We are thrilled about where the next two years will take us as Hervé becomes a household name available in markets across the U.S. and recognized as the benchmark for luxury cannabis products."
The Series A round was completed with existing and new investors participating, along with a new investment by SOL Global Investments Corp. In addition to its investment, SOL Global will be providing Hervé with strategic support through its vast network to help bring the Hervé brand to more markets and more outlets.
When Evelyn Wang was named the CEO of California-based cannabis and CBD wellness company Papa & Barkley in January, she joined the space after 15-plus years of senior management experience in the beauty sector and a lifetime of cultural heritage.
Born in the subtropical Taiwan capital city of Taipei, Wang emigrated to Vancouver, British Columbia, Canada, when she was 18 months old. She earned her Master of Business Administration from the University of Southern California and became a U.S. citizen nearly two decades ago.
Wang’s senior management experience came while leading premier beauty brands at L’Oréal and Estée Lauder. Most recently, she served as chief marketing officer for Milani Cosmetics, a leading international color cosmetics brand. Her crossover from beauty to cannabis is pillared by her expertise in building brands as well as her fundamental principles.
With a personal commitment to plant-based medicine, wellness and sustainability, Wang aligns with Papa & Barkley’s core values, said Adam Grossman, who founded the company five years ago after he formulated a homemade cannabis balm with a crockpot in his kitchen that eased his father’s back pain that had left him bedridden. That balm, in conjunction with other therapies, got “Papa” off hospice and able to return home, he said. “Barkley” is the family’s loyal pit bull.
“The board and I are confident that Evelyn is the right leader to build on our momentum and brand, adding depth to our stellar executive team,” Grossman said in a press release announcing Wang’s appointment to CEO, a position Grossman previously held. Papa & Barkley offers THC products in California and ships CBD products to all 50 states.
