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Donald Trump

Trump’s Trade War Hits the Cannabis Community

Written by Anthony Johnson on . Posted in Business, CBC Portland.

Regardless of your political leanings generally, or thoughts about Donald Trump, you probably don’t want to spend more money or make less money. Unfortunately, Trump’s trade war with China is about to hit the cannabis community as the price of equipment and devices from vaporizers to grow equipment to cell phones, to many things in between, are set to increase soon, pushing prices higher for businesses and consumers.

Arnaud Dumas de Rauly, co-CEO of The Blinc Group, a vapor and cannabis incubator, and treasurer for the Vapor Technology Association, testified about the detrimental impact of Trump’s proposed tariffs on his business sector as part of The Office of the U.S. Trade Representative public hearings regarding the proposed tariffs on July 24th. CNBC reported on the tariff’s consequences for vaping businesses, other cannabis-related companies, consumers, and patients:

Companies that import vaping products will have to either absorb the additional cost of the tariff, source production in another country or increase the prices charged to consumers.

However, the profit margin on those devices is only between 10 percent and 15 percent and few alternatives exist for making them, Dumas de Rauly said. As a result, the extra cost of the tariff will be largely passed on to consumers by way of higher prices.

That will impact the “entire cannabis consumption market — including medical and recreational marijuana,” he said.

“There’s no question that tariffs will raise the price of those products, which producers and importers will try to pass on,” added Dan Ikenson, the director of the Herbert A. Stiefel Center for Trade Policy Studies at the Cato Institute, a nonprofit think tank in Washington, D.C.

As Juan Carlos Negrin, President of the New Jersey Marijuana Retailers Association, explained to Forbes, cannabis companies are particularly vulnerable to increased costs because of the 280e IRS tax provision prohibitions normal deductions of business expenses from their taxes. Negin stated that “A tariff on goods the companies use in daily operations will have a substantially negative impact on their earnings”

With the cannabis industry so overregulated and ultracompetitive, any increase in business costs that force consumers and patients to pay more are certainly not welcome. A few important lessons come to mind for me. One, it’s always good to diversify, so your business isn’t so susceptible to the whims of any president, especially one that makes policy via Twitter. Secondly, this reinforces the importance of politics to the cannabis industry. It is imperative that we united to elect officials that wholeheartedly support the cannabis industry and to end harmful policies, such as unnecessary tariffs and draconian tax policy.

If cannabis is your industry, then politics is your business. For the cannabis industry to thrive like it should, we must always remember the importance of politics. We’ve made great strides in recent years, but Trump’s tariffs are just one example of how our burgeoning industry can be impacted by an election and a policy choice or two.

The International Cannabis Business Conference has been combining business and politics better than any global B2B since it began four years ago. Politicians of all levels, as well as government regulators, are always featured at the ICBC and the Portland event on September 27-28 is no exception. Don’t miss your opportunity to learn the latest and network with top professionals from around the world. Get your tickets by September 12th to save $200. 

Scales of Justice

Let’s Help More Drug War Victims Join the Cannabis Industry

Written by Anthony Johnson on . Posted in Business, CBC Portland, Politics, Social.

The economic benefits of the cannabis industry garner a vast majority of the headlines, but those of us that have put in years upon years fighting the Drug War know that keeping people out of prison, along with helping sick and disabled patients, remain the foundation of the legalization movement. Unfortunately, too many victims of the War on Drugs are now unable to enter the cannabis industry, either due to their convictions or because of the financial toll that their arrests, prosecutions, and convictions have placed upon them. It is good to see that some localities and states are trying to make amends.

I’m proud that my home city of Portland, Oregon, despite the criticisms that I have about its local regulations, has done something to step up to the plate as The Skanner reported:

As one of the fastest growing industries in the United States, cannabis is still largely leaving African Americans out of the race – with only one percent of dispensaries owned by a Black person.

Some, however, are adamantly trying to change that statistic. In March 2017, a group of cannabis business owners, policy makers and activists drafted the first-ever cannabis bill that would assist those harmed by racial disparities in drug law by providing them opportunities within the cannabis economy – through business ownership, certification, and even record expungement.

Locally, the city of Portland passed a milestone last year when voters approved a three percent tax on recreational cannabis, a portion of which will help fund programs that support workforce development and minority-owned cannabis businesses.

It’s awesome to see Sacramento, California, also joining the fight, according to The Sacramento Bee:

The Sacramento City Council took a big step Thursday toward giving minority business owners and residents of disadvantaged neighborhoods better access to the billion-dollar cannabis industry.

The Council unanimously approved the Cannabis Opportunity Reinvestment and Equity (CORE) program after months of fine-tuning.

Council members said the program would allow those impacted most by the “War on Drugs” to open a cannabis business without paying thousands of dollars in permit fees. It also will provide support to entrepreneurs to help them navigate the permitting process.

And Massachusetts is leading the way with statewide social equity and economic empowerment programs, led by activist Shaleen Title, who was named the Bay State’s top regulator, as detailed by Tom Angell in Forbes:

Participation in the social equity program is available to people who have a past drug conviction or are married to or the child of a person with a drug conviction. It is also open to residents of “areas of disproportionate impact” under the drug war and whose income is sufficiently low. Those who qualify can receive training and technical assistance in employee recruitment and management, accounting, tax compliance, raising capital and other areas.

Regulators also launched a separate economic empowerment program that gave priority application review status to businesses that met criteria such as majority ownership of people of color or a majority of whose employees have drug convictions.

At a recent meeting of the commission, Title laid into municipalities that, in her view, are requiring marijuana business license seekers to pay excessive fees, a situation which she says creates “obstacles to the commission’s mission statement, which is to safely, equitably and productively implement the law.”

All of us at the International Cannabis Business Conference are activists first, while we want to see businesses thrive, we want to end the Drug War and assist those that have been hurt by the disastrous War on Drugs. At the upcoming ICBC in Portland, this September 27th-28th, we’ll be hearing pitches from some local mom-and-pop businesses for a chance to win $10,000 no strings attached. One of the factors in naming a finalist is what they have done to help in the Drug War. As all of us participate in the cannabis industry, as advocates, entrepreneurs, investors, or consumers, let’s all keep in mind the underlying foundations of our movement. Let’s use our talent, voice, and dollars to help end prohibition and do our best to fix decades of Drug War injustices.

Denver, Colorado

Colorado Cannabis Commerce Hit All-Time Highs in 2017

Written by Anthony Johnson on . Posted in Business, CBC Portland.

First of all, I apologize for the punny headline, but when you’re discussing record-breaking cannabis sales in a state that includes the Mile High City and inspired Bob Denver to pen “Rocky Mountain High” it is hard to avoid. Plus, it’s Friday.

Colorado has made a lot of headlines for the revenue marijuana has brought to the state since it became the first state to pass legalization in 2012. It made a lot of sense that the Centennial State would reap the benefits of pioneering the market, however sales have continued to exceed expectations as the state topped $1 billion, and now $1.5 billion across the state. Denver has led the way, but the rest of the state is starting to catch up a bit, as The Denver Post reported:

Denver dispensaries sold more than $587 million in marijuana in 2017 even as sales in shops in other parts of the state continue to grow.

Retail sales totaled $377 million in Denver, according to the city’s annual report on the marijuana industry released Thursday. The city’s revenue from all marijuana sales in 2017 grew to $44 million, a 20 percent increase from the previous year.

Denver uses the money to pay for regulation of the marijuana industry, enforcement of its laws and drug education. It also helps pays for maintenance, affordable housing and opioid intervention.

While the big population centers garnered the most sales, smaller border towns are benefitting financially from the surrounding prohibition states:

Las Animas County, which is on the Colorado-New Mexico border and bisected by Interstate 25, isn’t the only border county experiencing a green rush. An analysis of sales data by The Denver Post and Brian Keegan, a computational social scientist at the University of Colorado, shows that three of the five counties with the highest per-capita sales of recreational marijuana are situated along Colorado’s southern border.

***

Las Animas led the state in per-capita sales at $3,118, followed by neighboring Costilla County at $1,036. Montezuma County, encompassing the Four Corners region, was fifth at $735, according to calculations utilizing Colorado Department of Revenue sales data and Colorado State Demography Office population estimates.

Michigan is set to join the list of states ending marijuana prohibition this November and the cannabis revenue brought in by Colorado and other legalized states will only appeal more and more to policymakers, legislators, and voters across the nation. The cannabis industry isn’t the business choice for those wanting to get rich quick, but if you love the plant and are dedicated for the long haul, Colorado is proving that cannabis commerce can indeed be very, very profitable.

Learn the latest about cannabis laws, network with the top professionals from around the world, and get tips on how you can survive and thrive in the cannabis industry at the International Cannabis Business Conference in Portland, Oregon, this September 27th-28th. If you know of a local Oregon business that would be a good contender to pitch their business at the Portland ICBC, be sure to spread the word about our Mom and Pop Pitch Event. Get early bird tickets by September 12th to save $200!

ICBC to Award Mom-and-Pop Cannabis Business $10,000!

Written by Anthony Johnson on . Posted in Business, CBC Portland, CBC Vancouver.

The International Cannabis Business Conference (ICBC) made its debut in Portland four years ago, just before Oregon became the third state to pass an adult-use legalization law. There was no way that any of us involved with producing the conference could predict the rapid growth of the marijuana market across the globe. The Oregon cannabis industry has created thousands of jobs, paying more than the wine industry on average, and shattered the expected revenue the state initially predicted, bringing in $40 million every six months, when the fiscal estimate was between $17 to $40 million per year.

The industry has proven to be ultracompetitive and often too expensive for true mom-and-pop businesses. The ICBC is here to help an Oregon craft business by awarding a local company at least $10,000 on the main stage at the Portland ICBC on September 28th. The money is a great incentive, but for the finalists participating in this event, the opportunity to present their business to a sold-out crowd of attendees who perfectly fit their target demographic may be a bigger business opportunity in the long run than winning $10,000.

One of the highlights of the Vancouver ICBC was the Canopy Rivers “Micro License, Macro Impact” Pitch Day, and I am so excited to be a part of an event that will help out a small Oregon cannabis business. While $10,000 isn’t a huge amount of money in today’s economy, it can be used to cover renewal fees or for any reason that the licensed business wants, no strings attached.

To qualify an Oregon business must sign up online. Potential candidates must be an Oregon Liquor Control Commission (OLCC) licensed marijuana business and eligibility preference will be given to businesses that have majority ownership from local Oregonian. Those that wish to throw their hat in the ring must agree to the contest rules and be able to give a five-minute presentation at the 2018 Portland ICBC  and answer questions from a group of judges. Those interested have to submit a short essay, no more than 300 words, on why they should be considered. Factors considered, among others: sustainable practices, any programs that benefit Oregon Medical Marijuana Program (OMMP) patients, positive engagement with the local community, and any work done to help end the Drug War.

Please spread the word to local businesses that you think would be worthy of the award. I look forward to learning more about some great Oregon businesses and seeing a worthy winner awarded at least $10,000 on September 28th!

To become a potential participant in the ICBC Mom and Pop Pitch Event, fill out the application at: ca.internationalcbc.com/icbc-portland-2018-mompop-pitch

For more information on the ICBC and to purchase tickets, visit: ca.internationalcbc.com

Be sure to get your tickets to the Portland ICBC by September 12th to save $200!

Wrigley Chewing Gum

Wrigley Chewing Gum Heir Invests in the Cannabis Industry

Written by Anthony Johnson on . Posted in Business, CBC Portland.

The signs that cannabis has moved into the mainstream of American society have been piling up over the years. Literally every day, anyone paying attention to media, culture, and politics, whether in the United States or internationally, can see that marijuana has moved out of the shadows into the bright lights of our lives. The latest major signal that cannabis is a legitimate part of our culture is when you follow the money. News that William Wrigley Jr. II, the billionaire heir to the Wrigley Chewing Gum fortune, is investing in cannabis is just the most recent example as Bloomberg reported:

Wrigley, 54, who left the gum and candy business after the sale, backs companies through a personal investment arm based in West Palm Beach, Florida. After an initial investment in Surterra in September, Wrigley is boosting his stake and assuming the role of chairman. Surterra is his first direct investment in the marijuana industry.

Wrigley, known as Beau, said he got into the industry mainly because of marijuana’s medical benefits. He said he’s tapping his experience with product distribution and brand-building to drive growth at Surterra. The cannabis company operates 10 medical dispensaries in Florida, including one in Miami Beach, and has a license to operate in the nascent Texas market.

“When I understood the massive benefits, it really changed my mind about the industry,” Wrigley said in an interview, his first public comments about the investment. “You don’t see too many opportunities to have that kind of an impact in an industry that is being created from scratch.”

Honestly, when most people ask me about investing in the United States cannabis industry, I question their motives and finances and make sure that they know that they are entering an ultracompetitive market that needs changes at the federal level to really capture its potential. There are risks involved, but many, many exciting opportunities are also there to be seized. With investors like Beau Wrigley entering the cannabis industry, it adds even more legitimacy to our cause to legalize more freedom, create more jobs, and generate more revenue. As Mr. Wrigley stated, the chances of getting involved in an industry at the ground level are few and far between. We have a rare opening that was unthinkable not that long ago, we just have to seize it.

Network with top investors and entrepreneurs at the #1 cannabis B2B event in the world, the International Cannabis Business Conference, in Portland, Oregon, this September 27th-28th. Get your tickets by September 12th to secure your spot and save yourself $200!

Big Alcohol and canabis

Cannabis Beer the Latest Twist of an Ancient Tradition

Written by Anthony Johnson on . Posted in Business, CBC Portland, Cultural.

In Canada, residents and tourists may soon have the ability to cheers with cannabis beer and various cannabis-infused beverages. Constellation Brands and Molson Coors have both announced intentions to develop cannabis drinks that adults can sip starting on October 17th in the Great White North. The move by beer companies to jump into the marijuana market are smart on at least two fronts-by getting a piece of a multi-billion dollar burgeoning industry and to recoup some potential financial losses as there’s some evidence that legal cannabis can cut into the profits of alcohol companies. The development of cannabis beer builds upon a tradition that potentially goes back over 10,000 years as Haartz reported:

Creating cannabis beer involves more than merely ashing a joint in your stein. It involves dripping marijuana oil in your stein. Or you can have a manufacturer do that for you, and save yourself the trouble of finding a head shop that legally sells marijuana oil.

***

At another level, spiking with cannabinoids is merely the latest chapter in the great history of experimenting with beer, which goes back to the dawn of civilization.

We cannot know when beer was first invented. Troughs that archaeologists suspect were used to make beer were found at none other than Göbekli Tepe, the prehistoric site in eastern Turkey dating to around 11,000 years ago. Many archaeologists believe Göbekli Tepe is the first temple ever to be built. (Others disagree and argue that the massive stone sculptures adorned houses.)

Whether these alcohol companies are actually creating cannabis beer or just cannabis-infused beverages, getting marijuana in liquid form will probably prove to be a popular option for many consumers. Cannabis beverages allow imbibers to ingest THC, CBD, and the multitude of other cannabinoids without ingesting smoke or creating a distinctive smell. As alcohol companies see the cannabis revenue created in Canada and legal states in the U.S., we can expect more entries into the cannabis industry from Big Alcohol and craft businesses alike. The potential for cannabis beer and other infused beverages to create new choices for consumers and opportunities for entrepreneurs and investors is certainly something to keep an eye on for those in the cannabis industry, or thinking of joining.

Don’t miss the chance to network with top entrepreneurs and investors and learn the latest information and trends pertinent to the cannabis industry at the upcoming International Cannabis Business Conference in Portland, Oregon, this September 27th-28th. Get your tickets by September 12th to save yourself $200!

CBD

CBD Offers Opportunities and Risks for the Cannabis Community

Written by Anthony Johnson on . Posted in Business, CBC Portland, Politics.

Reefer Madness prohibitionists have made numerous ridiculous statements over the years, including the contention that cannabis isn’t medicine, but that cannabis compounds are. While ranting about today’s marijuana, with THC levels over 20%, being so much stronger than that smoked during the Woodstock era, anti-legalization zealots have pushed the synthetic THC drug Marinol on patients, which is 100% THC. Now, with GW Pharmaceuticals likely getting approval for its CBD-based Epidiolex, prohibitionists are hoping that Big Pharma can corner the medical cannabis market.

While it is great that patients in states without medical laws should soon get relief, we cannot let the pharmaceutical industry snuff out medical cannabis programs across the nation. As New Frontier Data notes, CBD products offer both opportunities and risks for the cannabis community:

A particularly prominent development is the diversity of hemp-based CBD products made from high-CBD, low-THC hemp. With the pending 2018 Farm Bill under consideration by Congress this month, legalization is currently inconsistent nationwide, but it has the backing of Senate Majority Leader Mitch McConnell (R-Ky.).

Yet, perhaps of greater significance to investors is that on June 25, the FDA approved London-based GW Pharmaceuticals PLC- ADR GWPH 0.38% Epidiolex. The drug contains CBD as its active ingredient and used to treat two forms of epilepsy, Lennox-Gastaut syndrome and Dravet syndrome, in patients ages 2 years and older. As some welcome it as a victory for medical cannabis, it may yet prove to further muddy the question of legality for CBD. Per the Federal Food, Drug and Cosmetic Act, the FDA considers any product for human consumption containing the active ingredient of an FDA-approved pharmaceutical drug as “adulterated and misbranded,” thus possibly representing a loophole for Big Pharma to take over the CBD market — and medical cannabis at large — nationwide. GW Pharmaceuticals reportedly holds about 100 patents around the medical efficacy of cannabis from CBD extraction processes, to placebos, to dispensing mechanisms, and a range of cannabinoid-based drug formulas to treat dozens of conditions and illnesses.

***

In Canada, as New Frontier Data’s recently acquired Hemp Business Journal predicted in its State of Hemp 2015 report, the CBD market is booming under Justin Trudeau’s cannabis-friendly leadership. M&A activity has been concentrated among Canadian public companies (trading on the TSX, CSE and/or OTC) doing investment and acquisition deals with hemp companies. Overall, access to capital and a better regulatory environment in Canada have played into the stimulated investor activity. Three of the largest Canadian LPs, Canopy Growth Corp. CGC 0.92% Aphria Inc. APHQF 1.15%, and Aurora Cannabis ACBFF 1.98%, have all made hemp-related deals in the past year, and demonstrate how hemp and cannabis markets can successfully mingle.

The mainstreaming of CBD provides entrepreneurs a chance to market a beneficial product to the public, who in turn, receives health benefits unknown to most of the population ten, 20 years ago. However, with just about anything worthwhile, grassroots advocates must work hard to prevent a takeover by big business interests that may seek to control the market. Regardless of the risks, the CBD industry is exploding and its continued growth could provide protection from a Big Pharma hostile takeover.

The International Cannabis Business Conference will provide insight into all things CBD at the upcoming ICBC in Portland, Oregon, this September 27th-28th. If you want to learn more about CBD or the greater cannabis industry, and network with top entrepreneurs and investors, the ICBC is the marijuana B2B event for you.

cannabis plant

91% of Australians Support Medical, Legalization Coming Soon

Written by Anthony Johnson on . Posted in Business, CBC Portland, Politics.

Medical cannabis has broad, supermajority support in just about every poll around the world, so we shouldn’t be surprised that Australians are no different, but 91% support is an amazing number, regardless of the issue. It’s hard to get 9 out of 10 people to agree on just about any political issue. It is a true testament to the obvious medicinal properties of cannabis and the massive amount of education the public has received in recent years, combatting decades of Reefer Madness nonsense. The rapid growth of support for medical cannabis may lead to full adult-use legalization in the near future, as news.com.au reported:

Pharmacist and owner of Health House International Paul Mavor, who brought the first shipment of medicinal cannabis to Australia earlier this year, said patient numbers were above where other countries had been at the same time.

“In the first year of introducing it, Canada, which has a slightly bigger population to us, only had 150 patients, Australia had 300. Canada is now up 300,000 medical patients since legalising it 18 years ago and now they’re just about to go legal for recreational (adult use) in a few months.”

***

On April 16, Greens leader Richard Di Natale announced the Greens plan to legalise cannabis for adult use in Australia, as recreational use is still illegal across the country. They’ve proposed an “Australian Cannabis Agency” (ACA), which would allow experts, regulators and state and territory governments to issue licenses to produce and sell the drug, monitor and enforce those licences and conduct ongoing reviews.

At the Future of Cannabis seminar at Advertising Week APAC in Sydney on Wednesday, Sharlene Mavor, medical scientist and director of Medical Cannabis Research Australia told news.com.au that she anticipates recreational cannabis to become available in about five to 10 years time, once medicinal cannabis becomes fully implemented in Australia.

Patient activists have done a tremendous job around the world piercing through the Reefer Madness propaganda fog, and the success of the cannabis community in recent years has been nothing short of phenomenal. The International Cannabis Business Conference has brought together cannabis advocates, entrepreneurs, and investors from around the world together since its first conference in 2014. The ICBC provides pertinent information, great networking opportunities, and works to continue the momentum for positive reforms in the cities and countries that host the B2B marijuana event. The ICBC has conferences scheduled in Portland, Oregon, (coming up this September 27th-28th); San Francisco, California; Kauai, Hawaii; Vancouver, Brtish Columbia; Berlin, Germany, and Barcelona Spain. Who knows, Australia could be next.

hundred dollar bills

Nevada’s Cannabis Tax Revenue Far Exceeds Expectations

Written by Anthony Johnson on . Posted in Business, CBC Portland, CBC San Francisco, ICBC Barcelona, ICBC Berlin.

In what has been a common occurrence in the United States, a state with legalized cannabis commerce has far exceeded initial projections as Nevada’s first-year of regulated sales has been an indisputable financial success. Nevada follows in the footsteps of states like Colorado, Washington, and Oregon that have all generated more revenue than government estimates. The Seattle Times reported:

RENO, Nev. (AP) — Nevada regulators and industry insiders say the state’s first year of broad marijuana legalization has exceeded even their highest expectations, with sales and tax collections already surpassing year-end projections by 25 percent.

Numbers from June are still outstanding but are expected to push taxable sales past $500 million, netting total tax revenue in the neighborhood of $70 million — with about $25 million devoted to schools.

“I think it has been a huge success, and I don’t see how anyone could argue with that,” said Andrew Jolley, president of the Nevada Dispensary Association.

This unmitigated fiscal triumph in the Silver State bodes really well for more political victories for the cannabis community. While the cannabis law reform advocates behind state legalization measures are mostly concerned about ending harmful citations, arrests, and prison sentences, it isn’t a secret that voters and government officials like new sources of money. The economic benefits of regulated cannabis goes beyond just the tax revenue as the jobs created filter out through ancillary and other impacted businesses. Thank you, Silver State residents and tourists. While the cash spent on cannabis in Las Vegas and other places throughout Nevada stayed in the state to benefit schools and important social programs, the political impact of that money reverberates across state lines and into the halls of Congress.

The cannabis industry is ultracompetitive, but the revenue brought in by Nevada, Colorado, Oregon, Washington, and other states proves that there is financial success to be had. Those that have the best knowledge and connections are put in the best place to succeed. The International Cannabis Business Conference provides the best information and networking opportunities of any marijuana business event. Don’t miss the best global B2B conference in the world this September 27th and 28th in Portland, Oregon. Get your tickets by September 12th to save $200. Can’t make Portland, then maybe we’ll see you in San Francisco, Barcelona, or Berlin.

Molson Coors beers

Molson Coors Brewing Company Developing Cannabis Beverage

Written by Anthony Johnson on . Posted in Business, CBC Portland.

There has been some evidence that legalizing cannabis leads to a bit of a dip in alcohol sales, leading some in the alcohol industry to oppose legalization, but there are signs that joining the marijuana movement is the better financial play.  Molson Coors Brewing Company is certainly (wisely) embracing the burgeoning cannabis industry by developing a cannabis beverage set to be sold to consumers when Canada legalizes for all adults on October 17th, as the Daily Hive reported:

The Molson Coors Brewing Company is joining the cannabis game. In a joint venture with leading cannabis producer, The Hydropothecary Corporation, the two companies will develop non-alcoholic drinks infused with cannabis.

***

“Canada is breaking new ground in the cannabis sector and, as one of the country’s leading beverage companies, Molson Coors Canada has a unique opportunity to participate in this exciting and rapidly expanding consumer segment,” says Frederic Landtmeters, President and CEO of Molson Coors Canada. “While we remain a beer business at our core, we are excited to create a separate new venture with a trusted partner that will be a market leader in offering Canadian consumers new experiences with quality, reliable and consistent non-alcoholic, cannabis-infused beverages.”

The deal will be finalized by the end of September and is subject to the final approval of the Toronto Stock Exchange.

Business Insider covered the ramifications this move may have for the cannabis industry:

Analysts watching the cannabis and beverage space called the deal a “historic milestone” for the Canadian cannabis industry.

“We believe that the merger of the cannabis and beverage industries hold great potential for investors looking to reap the benefits of innovation in the space,” a group of analysts at Beacon Securities, a Toronto-based investment bank, said in a note.

Cannabis is set to be legalized in Canada on October 17, though cannabis-infused edibles and beverages won’t immediately be available. Molson Coors expects cannabis beverages to be legal by 2019. The consulting firm Deloitte expects the Canadian cannabis market to exceed $4.34 billion in sales by 2019.

With several alcohol companies moving into the marijuana business, we can expect more to follow as legalization gets passed state by state, and especially after federal prohibition ends. Thus far, it seems, as usual, that bigger beer companies are getting ahead in the cannabis space. It would be nice to see more craft brewers get in the mix to provide an avenue for mom-and-pops to thrive as well.

The International Cannabis Business Conference is THE marijuana industry event to learn the latest information and network with top professionals from around the world. The next ICBC is in beautiful Portland, Oregon, this September 27th-28th. Get your tickets by September 12th to save $200!

Jeff Merkley

Senator Jeff Merkley to Welcome ICBC Portland Attendees

Written by Anthony Johnson on . Posted in Business, CBC Portland, Politics.

While Senator Jeff Merkley, unfortunately, cannot make it in person to the International Cannabis Business Conference in Portland, Oregon, this September 27th-28th, due to his senatorial duties in Washington, D.C., the ICBC is so pleased that he’s agreed to welcome attendees with a video message. Senator Merkley has proven to be a bold, progressive public servant as he was the first U.S. Senator to endorse a legalization measure on the ballot and was the only senator to endorse Bernie Sander’s presidential candidacy. Jeff Merkley has proven to be one of the best advocates for sensible cannabis laws in Washington, D.C., and he’ll provide a great start to the Portland conference.

Below is the press release announcing the welcoming message from Senator Merkley as well as the rest of the ICBC’s program:

ANNOUNCEMENT: International Cannabis Business Conference in Portland, Oregon on September 27th-28th releases program that includes a welcome message from Oregon Senator Jeff Merkley.

(August 1, 2018) With the International Cannabis Business Conference returning to the city where the conference began four years ago, the ICBC has put together a program that is expressly curated to provide the best networking and learning environment in the industry. Following landmark events in Vancouver, Berlin, and San Francisco, the ICBC returns to the site of its inaugural event on September 27th-28th in Portland, Oregon. Oregon Senator Jeff Merkley, the first United States Senator to endorse a cannabis legalization measure, when he endorsed Measure 91 back in 2014, will be welcoming attendees via a recorded message. With the Senate in session, Sen. Merkley isn’t able to speak in person, but the ICBC is so pleased that he is willing to take the time to welcome attendees to Portland.

Senator Merkley has been proven wise to endorse Measure 91 as Oregon is currently bringing in twice the revenue than initially estimated, with the state on pace to bring in more than $80 million this year after the official government prediction was between $17 to $40 million a year. The economic benefit of legal cannabis goes beyond the new revenue added to the state’s coffers as the industry’s impacts include over $450 million in sales and 20,000 new jobs. Most importantly, marijuana arrests have plummeted and victims of the War on Cannabis are expunging old convictions.

The Portland ICBC will feature a program that includes: a presentation by the Oregon Liquor Control Commission, the state agency in charge of enforcing cannabis regulations; Canadian Securities Exchange Overview and the Opportunities for American Companies to Go Public; Branding & Market Share; Raising Capital; What’s Next for the Cannabis Industry; the ABCs of CBD; and an exciting Mom-and-Pop Pitch Event that will help award a local cannabis company at least $10,000, with no preconditions. “Since we started the ICBC, we have worked hard to develop a curriculum that will leave attendees as informed and prepared as possible. We’re proud to have been able to adapt as needed to always give investors and entrepreneurs pertinent information,” said Alex Rogers, Executive Producer of the ICBC. “As always, we also provide the best networking opportunities of any B2B cannabis event and we’ll have exciting announcements about our entertaining events in the near future.”

For more information, and tickets, visit ca.internationalcbc.com or call 541.864.0090. Early bird pricing of $349 for the conference or $449 for the conference plus VIP party last until September 12th. The event is expected to sell out.

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Willie Nelson Invades Canada and He’s Bringing Cannabis

Written by Anthony Johnson on . Posted in Business, CBC Portland.

It has been a trend, and probably a wise strategic move, for American cannabis companies to initiate a “reverse merger” with a Canadian company. Since Canada is leading the global cannabis movement by legalizing federally, their companies have access to the Canadian Securities Exchange and other financial markets while American marijuana businesses are shut out of the United States stock market. The latest cannabis industry entrepreneur “invading” Canada would be a living legend, someone who would make just about everyone’s “Cannabis Mount Rushmore”, Mr. Willie Nelson, who has struck a deal with LivWell Enlighted Health, as the Portland Press Herald reported:

LivWell Enlightened Health is planning a series of deals that include taking over management of a Calgary-based cannabis firm and a reverse takeover of investment company Target Capital Inc., the companies said Monday.

It is also changing its name to LivWell International and striking a side deal that will give it perpetual distribution rights in Canada to Willie’s Reserve, the U.S. country singer’s namesake marijuana brand, they said. The transactions were first reported by Bloomberg News.

***

Nelson’s pot empire includes the Willie’s Reserve and Willie’s Remedy brands, which market flower, vape pens and edible marijuana products.

“I bought enough of it, so I feel like I should be able to sell some back,” the 85-year-old singer said in a promotional video posted online.

You don’t have to be a living legend like Willie Nelson to utilize the Canadian financial markets to generate the capital you need to thrive in the ultracompetitive cannabis industry. With Canadian companies flexing their financial muscle in the United States, and several American companies now evening the playing field a bit, there probably isn’t a better time for cannabis businesses to look into a merger with a Canadian company. If you have any questions about the pros and cons of such a move, there is no better place than the International Cannabis Business Conference in Portland, Oregon, this September 27th-28th as the Canadian Securities Exchange will be one of the important panels on the agenda.

Oregon Welcomes You

Oregon State Senator Advocates for Cannabis Descheduling

Written by Anthony Johnson on . Posted in Business, CBC Portland, Politics.

Oregon has been helping lead the cannabis law reform movement since it became the first state to decriminalize personal use back in 1973. After voting to join California as a medical state in 1998 and Colorado and Washington as legalized states in 2014, Oregon has maintained its leadership status and its legislators understand that the work still isn’t done. Led by Senator Elizabeth Steiner Hayward, Oregon lawmakers are advocating that the National Conference of State Legislatures pass a directive that will lead to the conference lobbying Congress to deschedule cannabis from the Controlled Substances Schedule, effectively ending federal cannabis prohibition as Statesman Journal reported:

Oregon lawmakers have successfully found support for pot policy resolutions in the past, including one that passed in 2016. A similar resolution passed in 2017. But this year, Oregon is chasing a directive, which has a little more oompf.

Steiner Hayward said a resolution is important because it expresses the general will of the body — but a directive prioritizes lobbying efforts on the issue.

***

The proposed directive before the national lawmakers’ conference states “legitimate business enterprises need access to financial institutions that provide capital, security, efficiency, and record keeping.”

After being born and raised, and starting my cannabis activism, in Missouri, I can truly appreciate how far Oregon, my home state for nearly 15 years, has progressed, while also understanding how much more needs to be done. Locally, we, among other things, still need to legalize cannabis cafes, ensure that patients have safe access to their medicine, and help assist craft businesses compete against big businesses. Federally, we need to do our part to end prohibition, free prisoners, expunge old convictions, fix the tax code, and provide businesses access to banking services. The single policy that can help us move forward towards a whole host of our priorities is descheduling cannabis from the Controlled Substances Schedule.

Descheduling will help the cannabis community, and our nation, by opening up medical research and allow states to implement their own policies, including interstate (if not international) commerce. With cannabis no longer federally illegal, then workplace and insurance policies could change more easily as well. For Oregon, allowing regulated cannabis to be sold across state lines would fix most of the state’s cannabis industry woes, generating more revenue for Beaver State’s government coffers and businesses (and it will be on us to make sure that the extra revenue is utilized to assist low-income patients). A sincere thanks for Elizabeth Steiner Hayward, and all legislators in Oregon, and across the nation working to deschedule cannabis, bringing an end to the failed, harmful, and racist policy of federal cannabis prohibition.

Learn the latest about local, federal, and international cannabis laws and regulations at the International Cannabis Business Conference in Portland, Oregon, this September 27th-28th. Secure your tickets by September 12th to save $200!

Photo courtesy of the Oregon Department of Transportation on Flickr.
Jeff Sessions

Jeff Sessions Says States Can Legalize…but There’s a Catch

Written by Anthony Johnson on . Posted in Business, CBC Portland, Politics.

Cannabis legalization supporters and Drug War reformers certainly weren’t happy when Donald Trump appointed Reefer Madness prohibitionist Jeff Sessions as Attorney General. Sessions then proceeded to validate our fears when he rescinded the Obama administration’s policies that allowed states to move forward with their own cannabis laws without federal interference, discouraged prosecutors from pushing for the most severe punishment for nonviolent drug offenses (Sessions brought back the death penalty!), and moved our nation away from the use of private prisons.

While there are many reasons to oppose Sessions’ Drug War policies, his repealing of the Obama-era Cole Memo hasn’t slowed down the cannabis industry or the movement to reform laws, and, as some of us predicted, his outdated policies actually strengthened the cannabis community. Now, Sessions has come out and said that states are free to make their own marijuana laws (duh), but there’s a catch, as he left open U.S. Attorneys’ ability to enforce federal policy, as Marijuana Moment reported:

States are free to legalize marijuana, U.S. Attorney General Jeff Sessions said on Thursday, but his department plans to continue enforcing federal prohibition anyway.

“Personally my view is that the American republic will not be better if there are marijuana sales on every street corner,” Sessions said in response to a reporter’s question. “But states have a right to set their own laws and will do so.”

Sessions, speaking at a press conference in Boston about unrelated fraud prosecutions, said that when it comes to marijuana, “we’ll enforce the federal law.”

MassLive provided the video:

It’s clear that Jeff Sessions’ Reefer Madness policies are going the way of the dodo bird as state after state moves to legalize the medicinal or adult use of cannabis and, and support is climbing across all party affiliations and demographics. While Sessions may personally want to enforce federal laws, it appears that he’s been politically neutered by US Attorneys that have limited resources and more important priorities. Further, Sessions’ boss, Donald Trump, has signaled his support for a states’ rights legalization bill that could get more support following the 2018 midterm elections. Jeff Sessions will never be a proponent of sensible cannabis policies that are creating jobs and generating revenue across our nation, but it’s good to see that his Reefer Madness is much more bark than bite, and the bark is more of a whimper these days.

Jeff Sessions clearly isn’t going to stop the cannabis industry from thriving, so there has never been a better time to learn pertinent information and network with top professionals to take your business to the next level. If you are in the industry, or thinking of joining, the International Cannabis Business Conference is the event for you. Don’t miss the next ICBC in Portland, Oregon, this September 27th-28th. Get your early bird tickets by September 12th to save $200! 

Caricature credit: DonkeyHotey
Aurora Facebook Cover

Canadian Merger Creates Biggest Cannabis Industry Deal Yet

Written by Anthony Johnson on . Posted in Business, CBC Portland.

With the cannabis industry proven to be ultracompetitive and full of regulatory obstacles, consolidation has been a common tactic that can decrease costs and increase market share. With Canada leading the international market, the biggest deals are currently occurring among Canadian companies and the Financial Post just covered the finalization of the most lucrative cannabis industry deal in history:

Aurora Cannabis Inc. closed what’s likely the largest marijuana deal in history on Wednesday, acquiring rival producer MedReleaf Corp. in a transaction valued at more than $2.5 billion.

The friendly all-stock takeover, which was announced in May, will create an industry giant with large-scale cultivation capacity in Alberta and Ontario, and a presence in several other provinces.

“The closing of this transaction brings together two vertically integrated, successful pioneers in the cannabis industry, creating a company with more than 1,200 employees and a rapidly growing domestic and international footprint,” Aurora’s chief executive Terry Booth said in a press release.

This billion dollar stock deal won’t be the last blockbuster cannabis merger as such consolidating moves don’t seem to be slowing down at all. If anything well-capitalized companies taking over smaller businesses will only increase, and just as we’ve seen in literally every other industry, major mergers and takeovers will be just another part of the business.

While these billion dollar agreements are currently only occurring among Canadian-based companies, we can expect similar deals in the United States once federal prohibition ends. Who knows, it’s possible that Canadian cannabis companies listed on American financial markets, like Tilray and Canopy Growth, could decide to join forces, even before Uncle Sam gives the go-ahead on full legalization.

Learn the latest about major deals and how businesses can compete in the cannabis industry, including using capital gained from listing on the Canadian Securities Exchange at the next International Cannabis Business Conference in Portland, Oregon, this September 27th-28th. Get your early bird tickets by September 12th to save $200! 

Natural Roots Cartridges

Cannabis Products Increasing Market Share in Oregon, Elsewhere

Written by Anthony Johnson on . Posted in Business, CBC Portland.

There are many potential reasons for cannabis consumers to utilize concentrates, extracts, or infused products instead of the plant’s “flower” or “bud”, from avoiding the potential carcinogens in smoke to just wanting to avoid the smell the usual forms of combustion can admit. Additionally, there could be medical reasons that patients need a higher THC dose, or a CBD-only product, or something that may help them sleep, or otherwise improve their livelihood. Whatever the reason, the facts don’t lie, as USA Today reported on the fact that cannabis products are increasing their market share in legal, regulated states like Oregon and Colorado:

“The actual old-school smoking of cannabis is pretty much out the door,” said Jered DeCamp, co-owner of the Herbal Remedies marijuana store in Salem, Oregon. DeCamp said only about half of his sales are now traditional smoked marijuana.

Marijuana enthusiasts say the trend reflects a desire by consumers for stronger, healthier or more discreet ways to consume cannabis. It’s a pattern seen from Colorado to California to Oregon. Nine states and the District of Columbia have legalized recreational marijuana use.

In Colorado, for instance, smokable marijuana known as “flower” made up 67 percent of all sales at pot shops in 2014, when legal sales began. Today, it’s down to 44 percent, while sales of potent concentrates known as “honey” or “butter” have doubled to 31 percent.

Oregon saw flower sales drop from 51 percent to 44 percent in a single year, and in California, flower sales have dropped 3 percent in just four months this year. The data provided by BDS Analytics show that while overall sales of marijuana products continues to grow, marijuana in its simplest form is losing popularity.

While smoking or vaporizing flower is always going to be popular, we can expect the trend toward various cannabis products to continue as more states, and nations, end prohibition. When cannabis is illegal, consumers are stuck with what the local dealer has on hand, but regulation brings a diverse array of choices. As consumers and patients have more options and learn the benefits of various products, it is only natural for them to seek out whatever may work best for them under their unique circumstances.

The increased market share for marijuana products and items is a trend that those in the cannabis industry, or those thinking of joining, should certainly pay attention to as staying ahead of the curve can be crucial to surviving and thriving in a competitive field. Such trends will be a hot topic at the upcoming International Cannabis Business Conference in Portland, Oregon. Don’t miss the opportunity to learn the latest and network with top professionals with a proven record of success.

Photo courtesy of Natural Roots.
Eco Firma Farms

Oregon’s Eco Firma Farms Goes Canadian, Makes Major Moves

Written by Anthony Johnson on . Posted in Business, CBC Portland.

With Canada’s cannabis legalization law advancing past the United States, and every other nation, U.S. companies are turning to the Canadian Securities Exchange to survive and thrive in the competitive marijuana market. With companies from the U.S.’s northern border swooping down with big capital and resources, some enterprising American businesses decided that they should level up the playing field and acquire funding by listing themselves on the Canadian financial market. We’ve seen company’s like Chalice and MedMen pull off “reverse mergers or takeovers” and Oregon’s Eco Firma Farms has done something similar with C21 Investments Inc, although their vertical integration plan appears to be rather unique as reported by the Portland Business Journal’s Pete Danko:

That is, C21 has lately bought retail shops, a major grower and an extraction company.

“The rollup isn’t a surprise — consolidation has been widely anticipated in Oregon’s overcrowded cannabis sector,” Pete writes. “And other Oregon companies, like Chalice Farms, have gone the Canadian route.

“But the sweep of the investments by C21 Investments Inc., pulling together players all along the supply chain, appears to be unprecedented.”

Here’s what the Willamette Week said about Eco Firma Farms, its owner Jesse Peters, and C21 Investments, in its “Meet the New Faces of Cannabis-10 People Now Shaping Legal Weed in Oregon” piece this past May 6th:

Peters is trying to create a large cannabis farm with a small environmental footprint. EcoFirma Farms depends entirely on wind power, replaced all of its light bulbs with LEDs, and recently accepted a grant from the Energy Trust to install solar panels at his Canby farm. The savings in energy means Peters’ weed costs less than $450 a pound to grow and process, so even with the average wholesale price dipping as low as $700 a pound, EcoFirma can still turn a profit. Peters also bears watching because he is symbolic of the Canadian entry into this market. Because of different rules governing banking and finance, Canadian companies, lenders and investors can cross the border and plow money into U.S. cannabis. Peters is also relisting a defunct Canadian stock, C21 Investments, and merging it with EcoFirma so the company can sell shares to investors. “There was a lot of bad impressions when Golden Leaf bought Chalice and now Chalice is opening more Chalices, [but] what we’re doing is a lot different,” Peters says. “There is no Canadian asset that was already up and running. We just want to be in the United States, and we’re from Oregon.”

What people say about him:

“[Peters is] crusading for carbon-neutral grow ops, which is really rad.” “He’s such a wonderful human. The two concessions he’s made: He brought in LED lights and bought wind power from PGE by paying that 0.1 cent more.”

C21 Investments has recently made moves to purchase three dispensaries, another Oregon farm, and a processor, as the company consolidates and grows. Moving into the Canadian Securities Exchange is a fascinating option that seems to have allowed American companies to make major expansion plans and other advances, moves that used to be only available to Canadian companies.

Until the United States government ends federal prohibition, we can expect more U.S. cannabis companies to take advantage of the Canadian financial market. It’s going to be real interesting seeing how many businesses are able to capitalize on the capital that can be gained. American companies turning to the Canadian Securities Exchange will undoubtedly be a prominent topic at the International Cannabis Business Conference in Portland, Oregon, this September 27th-28th, and I’m certainly interested in finding out more and seeing how the maneuver works for those looking to thrive in the ultra-competitive cannabis industry.

Tulsi Gabbard

Tulsi Gabbard Introduces Bipartisan Cannabis Research Bill

Written by Anthony Johnson on . Posted in Business, CBC Kauai, CBC Portland, Politics.

Researching cannabis should be a no-brainer as any nation debates its marijuana laws, but scientific research has long been blocked by Reefer Madness prohibitionists like Trump Attorney General Jeff Sessions and there hasn’t been a serious effort to study the implications of various political models. Thankfully, Democratic Congresswoman Tulsi Gabbard (who filmed a welcome message for attendees at the International Cannabis Business Conference in Kauai) has reached across the political aisle to Republican Carlos Curbelo to develop a landmark cannabis research bill that can cut through the political rhetoric and give policymakers cold hard facts.

From Rep. Gabbard’s press release:

“For decades, bad data and misinformation have fueled the failed War on Drugs that has ruined people’s lives, torn families apart, and wasted billions of taxpayer dollars incarcerating Americans for nonviolent marijuana charges. In 2016 alone, nearly 600,000 people were arrested for marijuana possession. Our laws must be informed by facts — not emotion, manufactured stigma and myths. Our bipartisan legislation, the Marijuana Data Collection Act, will lay the groundwork for real reform by producing an objective, evidence-based report on current marijuana laws that exist in 31 states across the country, and their impact on our communities.”

“Federal lawmakers have long ignored the issues of our outdated federal marijuana policy,” Rep. Carlos Curbelo said.“In recent years, however, voters across the country – including in my home state of Florida and overwhelmingly in my district – have called for modernized marijuana policies in their states. This bill takes a commonsense step toward allowing unbiased research into the impacts that marijuana has had in states that have chosen to legally regulate it. I am proud to support the bipartisan Marijuana Data Collection Act to ensure the federal government is no longer an obstacle to legal, regulated marijuana and starts being part of the discussion for a new federal policy.”

**

Justin Strekal, National Organization for the Reform of Marijuana Laws (NORML), Political Director, said: “We appreciate Representative Gabbard for her tremendous leadership in the fight to reform our nation’s failed policy of prohibition. From emphasizing that marijuana policy be evidence-based, to tasking the National Academies with this important work, to her role as a lead on HR 1227, the Ending Federal Marijuana Prohibition Act, Rep. Gabbard has been one of the most prominent voices in calling for a new sensible approach to cannabis.”

“We look forward to a study conducted by an independent federal agency that isn’t invested in continuing marijuana prohibition,” said Aaron Smith, executive director of the National Cannabis Industry Association. ”Lawmakers and regulators at the state and federal level will benefit from a serious look at the effects of making cannabis legal for medical and adult use. There is already plenty of evidence showing that regulation is working in the states, but we need to look at the potential public health and economic impacts of further reforms, and the real costs of continuing to ban a substance that research shows may be helping to reduce the damage caused by the opioid problem.”

***

The Marijuana Data Collection Act would:

  • Require data collection and study with regard to the impact of state-regulated marijuana legalization on public health, safety, the economy, and criminal justice, among other issues.

  • Require the Secretary of HHS to coordinate with the DOJ, DOL, and States (to the greatest extent possible) and direct the National Academy of Sciences (NAS) to publish a biennial study on the health, safety, and economic effects of state legalized marijuana programs.

  • The Report would also outline best practices for state-led data collection, as well as recommendations to overcome any barriers preventing data collection and gaps in data.

You would think that officials on both sides of the cannabis debate would sign onto such a research proposal, but at this time, no anti-legalization member of Congress is co-sponsoring the bill and the nation’s leading prohibition Smarter Alternatives to Marijuana hasn’t provided a statement, despite a request from Forbes’ contributor Tom Angell. The silence from prohibitionists is deafening, a very significant tell, in that they know that the facts don’t back up their position.

Those of us fighting to end the failed, harmful, and racist policy of cannabis prohibition welcome the Marijuana Data Collection Act, introduced, knowing that the facts on the ground prove that legalization is a much better policy than prohibition. Like alcohol prohibition before it, it is time for federal cannabis prohibition to get swept into the dustbin of history. The sooner that more open-minded officials and voters learn the facts, the sooner that we can legalize more freedom and create more jobs and generate more revenue for communities across the nation. Contact your representative and senators and urge them to support this common-sense research bill.

Learn about the latest laws and regulations for the cannabis industry and network with top investors, entrepreneurs, and advocates from around the world at the International Cannabis Business Conference in Portland, Oregon, this September 27th-28th. Get your tickets by September 12th to save $200!

cannabis

Cannabis Companies Look to Food and Beverage for Talent

Written by Anthony Johnson on . Posted in Business, CBC Portland.

Canadian cannabis companies are gearing up to provide for millions of new customers when October 17th rolls around, creating jobs and paying higher salaries to well-trained employees. As marijuana businesses look to expand operations and fill needed positions, the food and beverage industry has become a natural recruiting ground as The Globe and Mail covered:

Examples of the cannabis sector poaching talent from the food and beverage space aren’t hard to find. Vancouver-based Harvest One Cannabis Inc. named Grant Froese as its chief executive officer on July 4. Mr. Froese took the job after a 38-year career with Loblaw Cos. Ltd., where he last served as chief operating officer. Kelowna’s GreenTec Holdings Ltd. recently wooed two high-level employees from Kelowna food and beverage manufacturer Sun-Rype Products Ltd. – former president and chief executive officer David Lynn and Stefan Sarachie, who was Sun-Rype’s food safety and regulatory affairs specialist.

Jay Wilgar, CEO of Up Cannabis Inc. in Oakville, Ont., says people who have worked in the food and beverage sectors are a natural fit for the recreational cannabis space. “When you think about food and beverage, it’s highly regulated, dealing with the government, dealing with taxation and distribution – all the things we have to deal with,” Mr. Wilgar said.

***

Canopy Growth Corp., one of Canada’s largest cannabis companies with about 1,000 employees, also views the food and beverage sectors as fertile ground to find staff, particularly at the executive level. “There isn’t a deep pool of executive talent that comes from the cannabis industry because it’s so new,” says Jordan Sinclair, vice-president of communications for Canopy Growth. “We look to industries like the beer industry, food production or the pharmaceutical industry because they all have complementary skills sets that you can apply to cannabis in various ways.”

Based in Smith Falls, Ont., Canopy Growth’s leadership team includes beer industry veteran Dave Bigioni. Before he took on the role as the company’s chief marketing officer in August, 2017, Mr. Bigioni was vice-president of marketing and sales for Molson Coors Brewing Co.’s Canadian operations.

The cannabis industry is an extremely tough market, but opportunities abound for those that can carve out their niche. If you are in the food and beverage industry and want to transition into the cannabis industry — where you have the opportunity to rise with companies from the ground floor, familiarize yourself with the cannabis plant, and learn the local rules and regulations that you will need to follow — then now is a perfect time to make that transition. You don’t necessarily have to be an expert, but a solid foundation could go a long way to making it in an exciting industry with huge potential.

If you are in the cannabis industry, or are thinking of joining, the International Cannabis Business Conference is the marijuana business event for you. Don’t miss the opportunity to learn the latest and network with top employers, investors, entrepreneurs and advocates from around the world. The next ICBC is in Portland, Oregon, on September 27th-28th. Get your early bird tickets by September 12th to save $200.

Tilray veg

Cannabis Company Tilray Sees Early Big Gains on Nasdaq

Written by Anthony Johnson on . Posted in Business, CBC Portland.

In full disclosure, when I first read that Canadian cannabis company Tilray was going public on the Nasdaq, becoming the first cannabis IPO on the U.S. Stock market and just the third such company even listed on a major U.S. stock exchange, I made it a point to buy a few shares on its opening day. I’m not a stock market expert by any means, so I’m not advising anyone to make any purchases of Tilray or any other stock. However, how Tilray and other marijuana-related stocks perform is very relevant to the cannabis industry, so I’ll be blogging about the highs (pun intended) and lows these businesses experience. After its first few days on the Nasdaq, Tilray has been a big winner as Seeking Alpha reports:

Tilray Jumps 75% in Two Days Post-IPO

The last major Canadian cannabis company Tilray (TLRY) just officially debuted on the Nasdaq, marking the first IPO on a major U.S. exchange by Canadian cannabis companies. Tilray has long been one of the most anticipated IPO in the cannabis world due to its long operating history and early involvement of private equity. Tilray chose to list in the U.S. instead of Canada in order to attract higher quality investor base including institutions. The majority of Canadian-listed cannabis companies are held by retail investors which made trading more volatile and short term in nature. Tilray has its eyes set on the big prize and has taken its time to execute and raise capital. Clearly, the listing was a huge success and investors are all over it. However, despite our great enthusiasm for Tilray, we would caution investors against buying now due to the high risk of a major pullback. We can’t predict the market but believe the 75% jump is a bit too much and involves some level of speculation. We plan to publish a detailed analysis of Tilray this week.

Anyone thinking of investing in Tilray should definitely do their due diligence. It will be interesting to see how the stock performs when early major investors sell off some shares to make a profit off of their initial investment and big news events, such as when Canada officially legalizes cannabis commerce October 17th or other nations open up to cannabis exports from the Great White North. No matter how well Tilray ends up doing, and I’ll have to admit that I would rather not lose my humble investment in the company, we’re likely to see more and more cannabis companies listed on major exchanges around the world was the legalization movement continues its success.

Want to know about cannabis stocks or any other potential business venture in the burgeoning industry? Then the International Cannabis Business Conference is the event for you. Next up, the ICBC is headed to beautiful Portland, Oregon, on September 27th-28th. Don’t miss this excellent opportunity to learn the latest and network with top investors and entrepreneurs from around the globe. Get your tickets by September 12th to save $200!

NSLC

Nova Scotia to Be the First to Mix Cannabis and Alcohol Sales

Written by Anthony Johnson on . Posted in Business, CBC Portland, Cultural.

“Regulate cannabis like beer and wine” is a pragmatic position backed by a lot of legalization advocates these days and, while the substances certainly aren’t identical, similar regulations make a lot of sense. We all want to keep cannabis and alcohol out of the hands of minors and voters and elected officials love creating new jobs and generating new tax revenue. While cannabis and alcohol share relatively comparable regulatory schemes in non-prohibition states (although marijuana businesses are subjected to even more stringent licensing and tracking rules), no licensed business has mixed both alcohol and cannabis sales together. That is about to change this October 17th, in Nova Scotia, Canada, as CTV News reported:

The Nova Scotia Liquor Corp. offered a glimpse inside one of its coming cannabis stores Wednesday, showcasing a unique retail hybrid not likely found anywhere else in the world.

NSLC president and CEO Bret Mitchell took media on a tour of the cannabis store that’s inside the NSLC on Joseph Howe Drive in Halifax, saying Nova Scotia is the only jurisdiction that brings cannabis and alcohol sales under one roof.

“We have a very unique situation here in Nova Scotia and one that’s definitely going to be setting the stage for the world,” said Mitchell inside the new cannabis store, located in a renovated section of the liquor store.

Nova Scotia Liquor Corp. expects cannabis sales, which will occur in 12 stores will double the companies sale numbers from $11.5 million to $22.5 million, so the combined sales will likely be very, very good for business. While prohibitionists will howl about the mixing of cannabis and alcohol, it is good to see Nova Scotia treat adults like adults. Hopefully, this will be a trend that will be replicated across Canada, the U.S., and the world.

Learn about the latest trends and developments in the cannabis industry at the upcoming International Cannabis Business Conference this September 27th-28th in Portland, Oregon. Get your tickets by September 12th to save $200!

 

Tilray vegetative plants

Cannabis Stocks Like Tilray Are Here to Stay, Prohibitionists

Written by Anthony Johnson on . Posted in Business, CBC Portland.

After decades of global prohibition, cannabis companies are making history as they move forward in our current international patchwork system of various cannabis laws and regulations. With October 17th coming up quickly in Canada, we’ll see more and more history made as a G7 nation will legalize non-medical cannabis commerce for the first time, likely influencing other nations. Canadian cannabis company Tillray made history as the first marijuana IPO (initial public offering) on the U.S. financial markets. Trading under the symbol “TLRY” the stock increased over 23% yesterday.

TechCrunch covered Tilray’s first day on the Nasdaq:

The momentum behind Tilray  is a huge win for the cannabis industry, which has been growing like a weed (sorry again). Related startups attracted $593 million in funding last year, twice what they raised in 2016 and a meaningful jump from the $121 million invested in related startups in 2014, according to CB Insights. Among the different types of companies to garner investor dollars, shows CB Insights’ research, are: startups focused on research or distribution of medical marijuana products (as with Tilray); tools for ensuring compliance with state and federal marijuana laws; startups focused on payments for marijuana companies; startups collecting data and producing marketing insights about the industry; and companies creating novel strains and types of marijuana using new farming techniques.

Tilray’s performance today is also a very positive signal for Seattle-based Privateer Holdings, a private equity firm that owned 100 percentof the startup as it headed into its offering. In fact, Privateer’s CEO, Brendan Kennedy, is also the CEO of Tilray. (Cannabis companies are weird.)

Privateer has itself raised more than $200 million since its founding in 2010, including from Founders Fund and Subversive Capital, and it has used that money to finance, acquire and incubate companies. While it incubated Tilray, for example, it also owns Leafly, a large cannabis information resource that it acquired in 2011. Another of its portfolio companies is Marley Natural, a Bob Marley-branded cannabis line that it launched in partnership with the Marley’s estate and that sells a line of cannabis strains, smoking accessories and even body care products.

Needless to say, some Reefer Madness prohibitionists weren’t pleased with Tilray getting listed on the U.S. stock market as the so-called Smart Approaches to Marijuana leader Kevin Sabet made his feelings known via a press release:

“It is unconscionable – and illegal – to promote the production and commercialization of pot candies, cookies, and other edibles in the US market. We are calling on NASDAQ to immediately stop working with Tilray and other marijuana companies.”

With two other Canadian cannabis companies (the Cronos Group and Canopy Growth) already listed on the U.S. financial markets, Drug War dinosaur Kevin Sabet and crew are a little late. Since Tilray raised more than $150 million on its first day listed, we can expect more financial opportunities will arise to invest

Learn the latest important developments for the cannabis industry while networking with top investors, entrepreneurs, and advocates at the International Cannabis Business Conference this September 27th-28th in Portland, Oregon. Purchase your tickets by September 12th to save $200!

Struggling Oregon Town May Turn to Cannabis for Revenue

Written by Anthony Johnson on . Posted in Business, CBC Portland, Politics.

It cannot be disputed that the Oregon adult-use cannabis system creates jobs and generates revenue. While the Measure 91 legalization was primarily focused on ending unnecessary arrests and better prioritizing limited law enforcement resources, economic benefits were touted and the financial gains have actually been bigger than projected. Unfortunately, many localities have banned licensed cannabis businesses depriving themselves of much-needed funds. After seeing Easter Oregon town Huntington revitalized by cannabis revenue, the city of Ontario may have a chance to see more jobs and more money in the city’s coffers by overturning its local ban* this November as Boise State Public Radio reported:

The city of Ontario continues to struggle with its finances. Numerous consolidations have happened, and, at the start of July, several staff members were let go for budgetary reasons.

Pro-cannabis group MalheurCAN has a solution for the financial woes of the city. The group is pushing an initiative that would overturn Ontario’s ban on recreational weed and licensing dispensaries. It would include a new 3 percent sales tax on pot.

“The marijuana is estimated to bring in between $450,000 and maybe $750,000,” says Ron Verini, the mayor in Ontario.

Many towns and cities like Ontario are hurting and could use several hundred thousands of dollars to improve the lives of their residents. Every sheriff and deputy of Wheeler County recently resigned due to a lack of resources. Hopefully, Ontario voters will vote to bring more jobs and revenue (and freedom) to their town this November and other localities with bans will follow.

Learn the latest about the Oregon cannabis market, including what cities and counties could soon overturn their cannabis business bans, and get updates from other U.S. markets and those around the world at the upcoming International Cannabis Business Conference this September 27th-28th in Portland, Oregon. Get your tickets by September 12th to secure the “early bird” prices. 

*Full disclosure: I assisted the drafting process of the initiative seeking to overturn the ban.
OMMP dispensary

Oregon Medical Cannabis Program Needs to Do More for Patients

Written by Anthony Johnson on . Posted in Business, CBC Portland, Medical, Politics.

In many ways, Oregon is a leader on cannabis policy in the United States. The state was the first to decriminalize personal possession in 1973, was an early medical state in 1998, the third to vote in legalization in 2014, and really led the nation on decreasing criminal penalties across the board and expunging old marijuana offenses. Since implementing regulated sales, the cannabis industry has doubled the amount of tax revenue that the state initially projected and has created thousands of jobs. Unfortunately, lost in the shuffle too often has been the plight of patients and the Oregon Medical Marijuana Program (OMMP) needs to do more for its residents suffering from severe and debilitating medical conditions.

Ask any longtime medical cannabis activist and they will tell you that the OMMP has rarely enacted any policies that benefit patients, with Oregon Health Authority bureaucrats often clinging to the ridiculous notion that they were prohibited from advocating for OMMP patients. The OHA’s recently released report, “Oregon medical marijuana program operations and compliance assessment,” sadly focuses almost entirely on the lack of inspections and oversight of medical gardens, without mentioning the severe decrease in the number of registered patients and the plight of patients, particularly those with low incomes.

Longtime activist Anthony Taylor of Compassionate Oregon covered the issue in a piece for the Oregon Cannabis Connection:

The unwritten policy-that the OHA will not advocate for the OMMP and the patients it serves-has left it on the sidelines. It should have had a frank discussion with the legislature over the impact of the changes it made over last five years and the effect it would have on patients, and what should be done to enhance patient access rather than stifle it or, in the minds of some, destroy it altogether.

***

Misunderstanding issues facing patients in the workplace, in professional careers, and in public service has led to policy that has only increased costs for patients and their growers and has limited their access to the quality medicines they have received nearly for free for many years.

I sent out a press release on behalf of New Approach Oregon (the PAC responsible for the Measure 91 legalization law) that stated:

Understandably, Oregon officials are concerned about federal interference in our state’s medical and recreational programs after Attorney General Jeff Sessions rescinded the Obama administration’s Cole Memo that allowed state cannabis programs to operate under a set of federal guidelines. However, the state’s concerns regarding any potential federal action have now gone too far as too much attention has been placed on acquiescing to the Trump administration and too little attention is being placed on the needs of Oregon’s patients suffering from sick and debilitating medical conditions.

The recently released Oregon Medical Marijuana Program Operations and Compliance Assessment spent too much time focusing on the lack of inspections and too much space congratulating the program on providing safe access to patients. Over 20,000 patients have left the state’s medical program and not once does the report address that issue. Overly burdensome regulations have pushed out many compassionate growers and low-income patients, but the Oregon Health Authority (OHA) hasn’t ever considered the needs of the people in the program.

***

New Approach Oregon is asking the Oregon Health Authority to put patients first. Survey patients in the OMMP and those that have left the OMMP to find out what they need to improve their lives and alleviate their serious medical conditions. Politics are changing rapidly at the national level. Oregon should not be putting the wants of Jeff Sessions and Donald Trump over the needs of Oregon patients.

It is good that Oregon patients don’t have to pay any tax at Oregon retail cannabis establishments. It is great that the Beaver State is creating thousands of jobs and generating millions of dollars in revenue. It’s amazing that arrests for marijuana have plummetted. But Oregon can still do better. We need to always remember the sickest and poorest among our community and keep a focus on policies that help patients.

The International Cannabis Business Conference this September 27th-28th is a great opportunity for the Oregon cannabis community to come together to network and discuss how to effectively help Oregon’s industry AND patients. The ICBC is a business conference, but it is one that keeps a focus on the pillars of the legalization movement: keeping people out of prison and helping sick and disabled patients. Get your “early bird” tickets by September 12th. 

Cannabis plant

Oregon to Implement Recreational Cannabis Harvesting Rules

Written by Anthony Johnson on . Posted in Business, CBC Portland, Politics.

From a macro level, the Oregon cannabis industry is doing great. Governor Kate Brown states that 19,000 new jobs have been created thanks to legal marijuana and the Oregon Revenue Department statistics show that retail taxes are generating more than $20 million every quarter, over twice what the state initially projected. However, a closer examination details the obstacles that businesses face, particularly while cannabis remains illegal at the federal level: the tough competition and regulatory hurdles.

Competition in the adult use cannabis industry is going to be an issue in every legal market as investors and those that love the plant will always flock to the new burgeoning industry. It is exciting to enter a once prohibited market and the potential for profit is great. Only those that can provide a great product and set themselves apart will thrive.

The regulatory hurdles are the most maddening obstacles for the industry because unnecessary rules come from an irrational place out of a failed and harmful policy: federal cannabis prohibition. Because marijuana remains illegal at the national level, every state imposes strict tracking requirements on top of draconian federal policies that overly tax cannabis businesses and block their access to banks and other important services such as reasonable insurance rates.

Now, due to pressure from Jeff Session’s Justice Department, Oregon has been pressured to curtail the “surplus” of legal cannabis that has been registered in the state’s tracking system. As OPB reports, the Oregon Liquor Control Commission, which regulates the state’s recreational marijuana system, will now require outdoor growers to provide them with dates of their harvest so inspectors can have the ability to pop in to inspect:

The harvest doesn’t arrive until September, but a large over-supply of cannabis last year seriously depressed prices. And state regulators worry all that excess cannabis is flowing into the black market. If that market grows too big, it could prompt a federal government crackdown.

So the OLCC has drafted new rules to better monitor the harvest. The rules would require outdoor growers give the state advance notice before harvesting and several possible harvest dates.

The goal is to keep growers focused only on the amount of cannabis that can be sold on the legal, regulated market; a rogue grower, the thinking goes, will be less likely to divert crops to the black market if they know regulators could turn-up at any time.

Of course, many growers aren’t happy about this as it is hard to predict when you want to harvest when bad weather hits. Also, dealing with these inspections is another issue that these licensed growers must face as they are swamped by the logistics of finishing off their crucial harvest. Understandably, many licensed and regulated cultivators are feeling unnecessarily targeted when they have paid their fees, followed regulations, and had their harvest cannabis tracked, while those growing illegally are more likely to be shipping marijuana across state lines.

State regulators, on the other hand, are stuck between a rock and a hard place. They don’t want to quash an industry that is creating thousands of jobs and generating millions in new revenue for the state, so they feel forced to take incremental steps that will keep Jeff Sessions at bay while not hindering the overall system (too much).

The regulatory challenges Oregon has faced will likely be experienced by future legal markets, so long as cannabis remains illegal at the federal level. Until we end cannabis prohibition, marijuana will always be overregulated. While it is necessary to be focused on state and local laws impacting the cannabis industry, it is ever so important that we keep moving towards ending prohibition at the federal level, then the cannabis community can be freer, and the industry can be regulated more appropriately.

Keep up to date with the latest rules and regulations in Oregon, the U.S., and around the world at the upcoming International Cannabis Business Conference in Portland, Oregon, this September 27th-28th. Learn how to best comply with ever-changing rules and how you can set your cannabis business apart to survive and thrive in the coming years. Get your tickets by September 12th to save $200! 

Tilray Cultivation Room

Canadian Cannabis Company Set to Be First U.S. Marijuana IPO

Written by Anthony Johnson on . Posted in Business, CBC Portland, CBC Vancouver, ICBC Barcelona, ICBC Berlin.

Cannabis companies are achieving mainstream milestone after milestone and Canada’s legal industry deserves a ton of the credit. We’ve already seen large alcohol companies invest in the marijuana market, as well as Canada’s largest grocery chains, and two Canadian cannabis companies (Canopy Growth and Cronos) listed on the United States stock markets. Now, another financial landmark has been met as Canadian cannabis company Tilray is set to be the first marijuana IPO in the United States, with a listing on the NASDAQ (Canopy Growth and Cronos weren’t technically IPO, according to Investor’s Business Daily).

If you need a primer on IPO, here’s Investopedia:

An initial public offering, or IPO, is the very first sale of stock issued by a company to the public. Prior to an IPO the company is considered private, with a relatively small number of shareholders made up primarily of early investors (such as the founders, their families and friends) and professional investors (such as venture capitalists or angel investors). The public, on the other hand, consists of everybody else – any individual or institutional investor who wasn’t involved in the early days of the company and who is interested in buying shares of the company. Until a company’s stock is offered for sale to the public, the public is unable to invest in it. You can potentially approach the owners of a private company about investing, but they’re not obligated to sell you anything. Public companies, on the other hand, have sold at least a portion of their shares to the public to be traded on a stock exchange. This is why an IPO is also referred to as “going public.”

Bill Peters, writing for Investor’s Business Daily, reported that Tilray will be traded on the NASDAQ under the listing “TLRY” and that the company will be looking to expand significantly throughout the European Union, especially Germany:

Tilray last week said it would offer 9 million shares with an expected price range of $14-$16 apiece, an offering that could raise as much as $144 million. The company declined to make someone available for an interview ahead of the planned IPO, saying it was in a quiet period before the offering.

Regulatory disclosures say the IPO would help fund the company’s plans to expand cultivation resources, sales and marketing efforts. The IPO money could also go toward potential acquisitions and investments down the road.

***

Tilray said it expects the European Union to eventually become the world’s biggest medical marijuana market. The company based that prediction on the availability of medical pot via government-subsidized health care in the region. Eleven of the 28 EU member nations, Tilray said, have OK’d the use of medical marijuana.

Tilray said Germany was “the largest market opportunity in the European Union in the near term.” Germany, which legalized medical marijuana last year, has a population and a GDP that are more than two times that of Canada’s, Tilray said.

I remember meeting Tilray’s VP of Patient Research and Access, Philippe Lucas, whose activism I long admired from afar, at the very first International Cannabis Business Conference in Portland, Oregon, back in 2014, and it is amazing to see the growth of Tilray and the cannabis industry in general, especially in Canada, since then. While many are rightly concerned about the impact of big-monied interests moving into a market, but so long as companies don’t advocate for unfair business advantages or push for draconian sentences, competition can be a good thing for the cannabis community.

Maybe we’ll see Tilray share how their EU investments are moving forward in future ICBCs in Barcelona or Berlin. At the rate the cannabis industry is advancing, we can expect more companies matching the financial maneuvers of Tilray, Cronos and Canopy Growth as more mainstream investors migrate into the exciting burgeoning industry.

Cannafornia marijuana

Germany to Restart Cannabis Cultivation Bid Process

Written by Anthony Johnson on . Posted in Business, CBC Portland, CBC San Francisco, ICBC Barcelona, ICBC Berlin, Medical.

Germany’s medical cannabis program has experienced tremendous growth over the past year or so. In some ways, the German system has been a victim of its own success as patients have experienced shortages and too high of prices. Thankfully, for many patients, their cannabis is covered by their insurance providers, but prices are still too high and there is a lack of a variety of strains to alleviate their particular medical conditions.

Relief was supposed to be on the horizon, with German authorities awarding cultivation licenses to in-country companies for the first time, as the EU power currently imports cannabis from Canada and the Netherlands. More cannabis cultivators will increase supply and improve options as German companies will be in a better position to react to the demands of patients than foreign companies. However, the bidding process for cultivation licenses was declared faulty, setting back the selection process.

Thankfully, the cultivation licensing process will restart soon, as reported by Marguerite Arnold in the Cannabis Industry Journal:

According to documents obtained by Cannabis Industry Journal, the Bundesinstitut für Arzneimittel und Medizinprodukte (or BfArM) issued letters to original bid respondents in the first week of July. The letters appear to have been sent to all parties who originally applied to the first bid – far from the final top runners.

The translation, from German reads:

“We hereby inform you that we have withdrawn the above-mentioned award procedure…and intend to initiate a new award in a timely manner.”

The letter cited the legal decision of March 28 this year by the Düsseldorf Higher Regional Court as the reason the agency cannot award the contract. Specifically, because of “necessary changes to the tender documents…inparticular with regard to time, we have decided to cancel the procedure altogether and initiate a new award procedure.”

Per the letter, the new procedure will be published in the Official Journal of the EU. No date was mentioned.

It will be interesting to see how the new cultivation license process plays out. Allowing German companies to provide for their own country’s patients will be a win-win for all involved. Companies will create jobs and generate revenue as patients (and their insurers) will see lower prices and, most importantly, sick and disabled Germans will have the ability to find more strains that will meet their medical needs.

Learn the latest about medical and adult-use programs in the United States and around the world at the next International Cannabis Business Conference in Portland, Oregon, this September 27th-28th. After Portland, the ICBC has already scheduled events for 2019 in San Francisco (February 7th-8th), Barcelona (March 14th), and Berlin (March 31st-April 2nd).

 

Jeff Merkley

Senator Merkley Disappointed Banking Bill Blocked, Still Fighting

Written by Anthony Johnson on . Posted in Business, CBC Portland, Politics.

There aren’t many elected officials working as hard to implement sensible cannabis policies than Oregon Senator Jeff Merkley these days. Unlike a lot of politicians, Merkley isn’t just jumping on the bandwagon after seeing poll after poll showing strong voter backing, he was the first United States Senator to endorse a legalization measure when he supported Oregon Measure 91 in 2014.

I had the opportunity to personally thank Senator Merkley for his endorsement a few years later, where he stated that he did so, because, “I just felt it was the right thing to do.” A couple of days after I thanked Sen. Merkley for his support of M91, he announced that he was endorsing Bernie Sanders for president, the only United States Senator to do so. As we’ve seen time and time again, including when he led the charge to protest the treatment of children at the United States border, eventually forcing a change in federal policy.

Merkley, demonstrating his sensible nature, has introduced a common-sense amendment to allow state-regulated cannabis businesses access to banking services. Unfortunately, the banking amendment hasn’ made it out of committee, with even a few of his fellow Democrats opposing the proposal. BuzzFeed’s Ben Smith asked the Oregon Senator about how he felt about his banking amendment getting bottled up in committee, as Marijuana Moment’s Tom Angell reported:

“I was disappointed,” Merkley said in an interview with BuzzFeed editor Ben Smith on Monday. “We had passed this twice before.” We need to establish banking for cannabis because a cash economy is an invitation to money laundering and theft and cheating your employees and cheating on your taxes [and] organized crime. All bad.”

“I accompanied the owner of a company who had $70,000 in his backpack to pay quarterly taxes,” Merkley recounted in response to the cannabis banking question on Monday, which was suggested to BuzzFeed by Marijuana Moment’s editor. “It’s so bizarre going down the freeway and talking about how they have to pay their employees in cash, have to pay their suppliers in cash. It’s a bad system.”

“Everyone should agree: States’ rights on this. Let the states have an electronic system to track what these businesses are doing, not billions of dollars floating around like this.”

With Senator Merkley on the list of potential Democratic presidential candidates, the cannabis community, and those interested in a progressive yet pragmatic candidate that stands up for his principles, should consider supporting him. Thanks to Sen. Merkley, we’ll continue seeing more progress at the federal level, and who knows, we might just seen a future President Merkley signing a bill to end the failed, harmful, and racist policy of cannabis prohibition in a few short years.

Learn the latest about the cannabis industry in Oregon, around the nation, and across the world at the upcoming International Cannabis Business Conference this September 27th-28th in beautiful Portland, Oregon. Get your tickets by September 12th to save $200!

Hedge Funds, Other Big Money Sources, Embracing Cannabis

Written by Anthony Johnson on . Posted in Business, CBC Portland.

With Canada legalizing cannabis this October 17th, and the United States making progress on the issue, we can expect more and more big money to pour into the marijuana market. Currently, hedge funds like Navy Capital Green Fund are leading the charge, while more institutional sources, such as mutual funds are currently staying clear of the cannabis, waiting on the U.S. to end prohibition, but the industry is seeing strong signs that the industry is going mainstream, as Bloomberg reported:

Investors say the industry has received three stamps of legitimacy in the past 12 months: Tiger Global Management, the $22 billion investment firm, bought a stake in San Jose, California-based cannabis software startup Green Bits Inc.; alcohol giant Constellation Brands Inc. bought a 9.9 percent stake in Canopy Growth; and GW Pharmaceuticals Plc received approval from the U.S. Food and Drug Administration for a cannabis-based epilepsy treatment, the first marijuana-derived medicine to get the green light in the U.S.

“Those types of breakthroughs are breaking down stigmas,” said Charles Taerk, chief executive officer of Toronto-based Faircourt Asset Management Inc., which runs the pot-focused UIT Alternative Health Fund. UIT, with about C$20 million in assets, caters primarily to retail investors.

San Francisco-based Poseidon Asset Management, one of the longest-running hedge funds in the cannabis space, said it’s seeing tentative interest from bigger institutions but they may not take the plunge until U.S. federal laws change.

Legal cannabis will see bigger and bigger financial institutions gravitate into the market as prohibition ends in the United States and other nations around the world. We’ve already seen a gradual increase of involvement by established businesses and players in states that have legalized marijuana and in Canada, even before the Great White North passed the Cannabis Act. After Canadians prove that full legalization will create jobs and generate revenue, we’ll see even more mainstream entities into the Canadian cannabis market and into the fight to end prohibition in the U.S. and around the world because, simply, money talks. While we must work hard to prevent big moneyed interests from creating an unlevel playing field that hurts small businesses, their involvement will only add to the momentum to end the failed and harmful policy of prohibition.

Get the info that top investors utilize at the upcoming International Cannabis Business Conference in Portland, Oregon, this September 27th-28th. Get your tickets by September 12th to save $200!

Amazon drugs

Will Amazon Soon Be Selling Cannabis?

Written by Anthony Johnson on . Posted in Business, CBC Portland.

If you’re like me, and well, a lot of folks, you utilize Amazon to purchase a variety of products. While I don’t like the excess packaging and I try to shop at local businesses as much as possible, the convenience of having a new cell phone charger sent to me within two days is just too nice to pass up. If the United States, as expected, follows in the footsteps of Canada, will Amazon soon be delivering cannabis to people’s homes? According to the CEO of Eaze, a cannabis delivery service with the goal of becoming the “Amazon of weed,” the online retail giant will indeed get into the marijuana market, as reported by Yahoo Finance:

“I think there’s no doubt that eventually Amazon will get into this business. The question is, is that five years, 10 years, or 20 years,” says Eaze CEO Jim Patterson. “I think it will be a bit longer for them … until there’s much more clarity at the federal level.”

With laws changing around the country, legal sales of marijuana are expected to more than double in the next five years. Venture capital has taken notice with a reported $700 million worth of investments. Eaze is one of the most highly funded cannabis startups, delivering products in major cities across California.

Patterson says the company leverages technology to create easy access. “Instead of having to go to a store, a dispensary, you can download an app, or go to our website, and you’re able to shop the products from a local dispensary, and then have those products delivered to you.”

We’ve already seen several big companies get into the cannabis industry, particularly in Canada, where a few alcohol companies have dipped their toe into the market, while a big grocery chain has fully jumped in, with plans to open their own cannabis stores. However, we’ve never seen a company like Amazon get into the cannabis industry, but I guess we shouldn’t be surprised, once U.S. law allows it. While many will fear Amazon’s entry, there will still be plenty of opportunities as many consumers want to actually look at the cannabis they are purchasing as well as take a whiff from various jars at retail stores.

More craft cultivators and processor may eventually find a bigger marketplace by selling directly to consumers across state (and maybe even international) lines. Amazon  CEO Jeff Bezos is currently planning on selling trips to space soon, it’s to be seen if he wants to help people alleviate their medical condition or experience lift off from their favorite strain.

Learn the latest developments in cannabis business and politics while networking with top investors, professionals, and advocates from around the world at the International Cannabis Business Conference in Portland, Oregon, this September 27th-28th. Get your tickets by September 12th to save $200 and secure your spot at the ICBC before it sells out.

Photo courtesy of Marco Verch via flickr.
Portland Oregon Sign

High Times Lists Top Ten Portland Cannabis Retail Stores

Written by Anthony Johnson on . Posted in Business, CBC Portland.

With a history of being cannabis friendly and 175 licensed retail stores as of July 6, 2018, Portland, Oregon, is one of the best places to acquire ganja in the entire world. With a surplus* of cannabis logged into the states seed/clone-to-sale retail tracking system, prices have dropped to dramatic levels with plenty of stores advertising low prices around the $3 per gram level. If the cheapest cannabis doesn’t interest you, there are top-shelf strains still selling for $10, $12, or even $14 around the state, as well as extracts, concentrates, edibles, drinks, and other products in a favorable consumer market.

There are a lot of excellent retail stores to choose from and the High Times‘ Lauren Yoshiko provided her ten favorites, in no particular order as: Farma, Oregon’s Finest, Cannabliss & Co., Virtue Supply Co., Five Zero Trees, Serra, Jayne, Bridge City Collective, Jeffrey’s, and Panacea. Here’s what Yoshiko had to say about Cannabliss, who has three locations in Portland, and two more around the state:

Come to visit a dispensary in an old fire station, stay to shop from one of the largest, friendliest selections in town. You’ll still have to enter through one of the large doors big enough for a truck to pass through and walk past the fire pole dissecting reception. Cannabliss has made a habit out of building out unique shops, with a Eugene shop located in an old sorority house.

They’ve become a family of five shops with a competitively-priced menu and merchandise branded with enough subtlety that people actually wear it. High-profile growers like Pruf Cultivar and Ten Four Farms are available for $10/gram, which is $1-2 dollars cheaper than other shops. It’s also the first functioning rec shop to get fictional screentime, the familiar brick exterior and budroom getting a scene in HBO’s Here and Now when a character needs to take the edge off.

Whether you are attending the International Cannabis Business Conference this September 27th and 28th (and if you are in the cannabis industry, or are thinking of joining, you really should!), or visiting Portland, Oregon, another time, there are plenty of great retail stores to choose from. While legalization certainly brings plenty of regulatory headaches for industry participants, these unnecessary burdens will hopefully get ironed out over time, it cannot be denied that consumers are beneficiaries of the regulated system in Oregon with choices and prices that even the most optimistic cannabis community members could have guaranteed. With competition incredibly tough (175 cannabis stores in a mid-sized city!), Oregon-based cannabis businesses are certainly poised to flourish once federal prohibition ends and the industry is truly treated like its wine and beer counterparts.

* Whether there is a surplus of cannabis is really a matter of perspective. If you’re a producer trying to sell pounds at top dollar, a cannabis surplus is certainly an obstacle. If you’re the US District Attorney with jurisdiction over Oregon, you may complain about a surplus, but cannabis legally cultivated and registered in the state’s tracking system really should be the least of your concerns compared to all of the issues facing your office. Finally, if you’re a consumer or a patient on a limited budget, then a surplus is a welcomed thing that brings prices down to a more affordable level.
Canadian cannabis flag

Border War: Americans Set to Invade Canada…for Cannabis

Written by Anthony Johnson on . Posted in Business, CBC Portland, Cultural, Politics.

Rightwing provocateur Alex Jones recently received some well-deserved ridicule for claiming that American liberals were going to start a Second Civil War this past July 4th, a prediction that, of course, went up in flames. Even with that caveat, I’m going to go out on a limb and predict an American invasion of Canada on October 17th this year. No, Donald Trump’s and Justin Trudeau’s Twitter feud won’t escalate into a war, but the Great White North can expect a lot of Americans, especially those from states without legal cannabis, to flock to our northern border to purchase the first fully federally legal available for sale to any tourist.

The Washington Post reported:

Few places will be as affected as Blaine, where Interstate 5 hits the Canadian border, and Windsor, where the Detroit skyline is visible across the Detroit River. Thousands cross the border each day at the two cities for work or other reasons — Windsor’s mayor said he often ducks over to Detroit for lunch at a favorite Thai restaurant, traversing one of the nation’s busiest crossings for trade.

Windsor has long been a party destination for young Americans because 19-year-olds can legally drink and gamble there, two years earlier than in most of the United States. The city is fully expecting tourists of all ages to come smoke marijuana, which is legal for medical purposes in Michigan; a question on the November ballot asks Michiganders whether to make it legal for adult recreational use.

At Higher Limits Cannabis Lounge, where adults smoke medical marijuana while sitting on couches or bar stools and smoking devices including bongs are prominently displayed, co-owner Jon Liedtke has big plans to welcome American tourists. ”We definitely are not going to miss out on the opportunity,” he said.

I am so happy for the Canadian cannabis community as they welcome a day free of so many unnecessary arrests and an era that will bring more jobs and revenue to their local communities. Also, October 17th will be a great day for legalization supporters around the world as we will all be one step closer to ending the failed, harmful, and racist policy of cannabis prohibition. More localities and nations won’t be able to resist legalization after Canada’s success gets prominent media attention.

My fellow Americans, if you are traveling to Canada to celebrate legal cannabis, please be respectful of our more polite neighbors and obey local laws and regulations and generally just be nice. Pretend that you’re Canadian if that helps. And when you head back into the United States and see drug dogs at the border and feel that sense of panic that maybe you didn’t completely get rid of all of the marijuana you bought in Canada, use that feeling to add fuel to your activist fervor. Personally, I feel terrible when I feel less free in the United States than I do in a foreign country. Let’s use Canada as an example and know that the end of prohibition is within our grasp. We just have to continue to work hard and spread the truth about cannabis. Eventually, the truth shall set us free. Well as free as Canadians anyway.

Don’t miss the opportunity to learn the latest about the cannabis laws and movement in Oregon, U.S., Canada, and around the world at the International Cannabis Business Conference in Portland, Oregon, this September 27th-28th. Get your tickets by September 12th to save $200!

Photo credit: abdallahh/Flickr (CC BY 2.0) | Remix by Jason Reed

 

cannabis jars pipes

Oregon County Sells Nearly $1,000 of Cannabis Per Resident

Written by Anthony Johnson on . Posted in Business, CBC Portland, Politics.

When most people think of a cannabis-friendly locale in the beautiful state of Oregon, most people probably think about the weird city of Portland, where I’m happy to call home. Or, if they are familiar with the area, maybe they would point to the college town of Eugene or quirky, little Ashland. Baker County, with a population under 17,000, probably doesn’t come to mind, but the municipality is racking up cannabis sales at an amazing rate that equals $960 per resident. Now in sheer size, Multnomah County, home of Portland and by far the biggest county in the state, naturally reigns supreme, totaling over $175,000,000 in retail sales in 2017, compared to Baker’s $16,077,782, but per capita, Baker’s $960 per resident dwarfs Multnomah’s $220.

What is driving Baker County’s big per capita sales? One word: Idaho. The town of Huntington has been reaping financial benefits due to Idaho’s prohibition, as the Idaho Statesman reported:

“A lot of times they have to hang around quite awhile,” City Councilman Chuck Guerri said. “When (the dispensaries) are really busy, it’s two, two-and-a-half hours before (customers) get their product. So they mingle and they go to the store. They sit and have a hamburger or something. And all that helps. Every little bit of it helps when you’re a small town.”

City Hall might reap enough tax money from marijuana and related sales to double the city’s $200,000 budget.

***

And besides the city’s own marijuana tax money, Huntington stands to receive some money from the state. Oregon allocates 10 percent of the money it takes in from a 17 percent tax on marijuana sales to law enforcement initiatives in cities and counties, Department of Revenue spokeswoman Joy Krawczyk said.

Fortunately for cannabis tourists traveling back to the Gem State, police aren’t making a big point of targeting them, as Idaho State Police spokesperson Tim Marsano told the Idaho Statesman, “The fact that our neighboring states have legalized what is illegal in Idaho doesn’t mean we’re going to go ahead and profile.”

Tourists’ dollars have also been a factor in helping both coastal counties Curry and Lincoln outpace Multnomah, while Tillamook and Clatsop aren’t far behind. As Oregon will experience a budget crisis for the next 15 to 20 years due to the state’s Public Employees Retirement System (PERS) of the 1970s and 80s, as recently detailed in The New York Times, the Beaver State needs to continue increasing revenue.

Cannabis tourism is one way to generate more money, and Portland officials are doing a good job promoting the issue, but the rest of the state needs to get on board. Hopefully, licensed cannabis cafes and lounges will be established in the near future, providing Idahoans, and other tourists enjoying Oregon a reason to hang around a little while longer and spend a little more green.

Learn more about Oregon’s cannabis industry, and marijuana markets across the world, at the upcoming International Cannabis Business Conference in Portland, Oregon, this September 27th-28th. In addition to important information, the ICBC provides the best networking opportunities of any cannabis event. Get your tickets by September 12th to save $200! 

Canada Flag Cannabis

Canadian Investors Still Bullish on Legal Cannabis

Written by Anthony Johnson on . Posted in Business, CBC Portland, CBC Vancouver.

While at the International Cannabis Business Conference in Vancouver, British Columbia, last month, it was easy to feel the excitement that the cannabis community has over legal cannabis coming to Canada. Proud of helping propel Canada to the forefront of the global battle to end cannabis prohibition and feeling optimistic about the economic opportunities that federally-legal cannabis permeated among attendees. Those who have been in the industry for years weren’t naive regarding the obstacles regulatory hurdles pose businesses, but they took comfort knowing that regulations could be improved over time after the government realized that cannabis didn’t need to be treated like plutonium.

According to The New York Times, investors and government officials are still bullish on the financial benefits the upcoming Canadian cannabis industry presents:

A financial boom not seen since the dot-com mania of the late 1990s has overtaken Canada. The legalization of recreational marijuana, scheduled for this autumn, is not only a momentous social change and public health challenge, but also a rare opportunity for entrepreneurs like Mr. Asi to be in on the birth of what they hope will become a multibillion-dollar industry.

Early signs of a boom abound: Marijuana growers have plowed millions into investments that, without having recorded profits yet, have stock-market values measured in billions. Down-on-their-luck towns like Chesterville, Ontario, hope that marijuana will reverse economic decline. Former politicians and law-enforcement officials who once opposed legalizing recreational marijuana have now joined or formed companies to cash in on it.

Some provincial governments forecast that tax revenue from marijuana sales will help balance their budgets. And companies offering every kind of service or product — from real estate to packaging — are all out for a piece of the action.

It makes sense that investors, entrepreneurs, and politicians are still excited about a burgeoning industry expected to rival wine in just a few years, especially with Canada leading the global export market, a market that will only continue to grow over time. While Canadian companies are likely to get some competition within several years, they get to corner the market in the meantime and will have the capital to invest (more) in other nations as well. There will certainly be hiccups along the way, and it won’t be all rainbows and unicorns for Canadian cannabis companies, but the big picture future certainly looks bright for the Great White North.

Entrepreneurs and investors, as well as those thinking of joining the industry, need to be at the International Cannabis Business Conference in Portland, Oregon, this September 27th-28th to learn the latest news and to network with top professionals from around the world. Get your tickets to the Portland ICBC by September 12th to save $200!

Cynthia Nixon

Cynthia Nixon Embraces Cannabis, Raffling a “Broad City” Bong

Written by Anthony Johnson on . Posted in Business, CBC Portland, Cultural, Politics.

“Sex and the City” star Cynthia Nixon has made cannabis legalization a major platform of her progressive, anti-establishment New York gubernatorial race, and she has recently doubled down on the movement, teaming up with the leading ladies of “Broad City” to raffle off a bong. Ilana Glazer and Abbi Jacobson, the creators and stars, of Comedy Central’s “Broad City” are well-known cannabis aficionados and show that Nixon is not afraid of being tied closely to cannabis and that she plans on running up the score among young voters in her quest to unseat Governor Andrew Cuomo in the Democratic primary on September 13th.

Nixon made a big splash among the cannabis community when she spoke at the New York City Cannabis Parade, this past may, co-organized by Steve Bloom (my friend and frequent celebrity interviewer on the International Cannabis Business Conference stage). While on stage, the actor-turned-candidate stated that, “For cannabis is the crown jewel in the racist war on drugs, and we must pluck it down.

I first learned of Nixon’s bong giveaway from Katie Shephard, in Forbes, who reported:

Officially dubbed the “Broad City Bong Contest,” Nixon’s campaign website states, “This may be a silly contest but it’s a serious issue.” For a chance to win now through July 16, participants can choose to make a donation of any amount, but no contribution is necessary and a winner will be chosen at random.

However, the New York Daily News reports that the contest could be illegal citing defense attorney Ron Kuby, who called the contest a “technical violation” that prohibits the sale or offering for sale of drug paraphernalia. He added, “Cynthia Nixon by offering drug paraphernalia, as defined by federal law, could run afoul of federal law, but the lucky winner would not be. I would be thrilled to represent her pro bono should (U.S. Attorney General Jeff) Sessions and his band of trolls arrest her.”

With the statewide legalization of marijuana as a cornerstone of the issues she’d tackle as New York’s next governor, Nixon is also focused on the racial injustice that remains in her messaging surrounding the contest.

Nixon knows that she’s an underdog to unseat a powerful incumbent, but the upset primary victory by Alexandria Ocasio-Cortez over Joe Crowley, who was on the shortlist to become the successor of Nancy Pelosi to be the next House Democratic Leader, has certainly provided a lot of optimism for Nixon backers. Regardless of whether she wins or not, and I’m certainly rooting for her, Nixon’s support for legalization won’t hurt her with voters as a strong majority of voters support ending cannabis prohibition. Additionally, she’s already won some victories for the issue as she’s made Andrew Cuomo more progressive on the issue. If you are able, support Cynthia Nixon’s campaign and help spread the word.

Learn the latest about cannabis politics and business at the upcoming International Cannabis Business Conference in Portland, Oregon, on September 27th-28th, and network with top investors, entrepreneurs, and advocates from around the world. Be sure to get your early bird ticket by September 12th to save $200!

Two Flowers

Portland Brewery Leading the CBD-Infused Beer Movement

Written by Anthony Johnson on . Posted in Business, CBC Portland, Cultural.

Cannabis is certainly a hot, burgeoning market that may put a small dent in the alcohol market. Smart alcohol industry players realize that legalization is eventually coming, so they are looking at ways of becoming a part of the marijuana market, instead of combatting it. We’ve seen very big alcohol companies make serious inroads in Canada, even before the nation passed its legalization law, seeing the writing on the wall. As legalization moves through the U.S. state by state, with some progress federally, alcohol manufacturers have to be a little more cautious, but breweries are certainly starting to dip their toe into the water, as we’re starting to see with infused beers. Coalition Brewing, a craft brewery in Portland, Oregon, is a pioneer in the field.

In the United States, breweries will have to use hemp for now, and according to Tom Hogue, of the U.S. Alcohol and Tobacco Tax and Trade Bureau (TTB), federal, state, and local ordinances impact the ability to infuse and market the beer. As The Ringer’s Molly McHugh reported, there are some serious bureaucratic hoops to jump through, something the cannabis industry definitely understands:

FDA approval of regular beer recipes has become standardized, but according to Hogue, hemp-derived beers are scrutinized much more closely. The TTB has to reconcile these formulas with not only the FDA, but the Drug Enforcement Administration as well because cannabis is a controlled substance. If the beer meets the standards of all three bodies, the drinks can be sold in the states where they’re made.

The Ringer’s McHugh, a Portland-based reporter, doesn’t live far from Coalition, and she asked co-owner Elan Walsky, and Phil Boyle, the brewery’s regional ambassador, about their process and intentions with infused beers, which all began with a cannabis-infused dinner. Of course, they wouldn’t reveal all of their secrets, but you can tell that they are primed to work with the cannabis plant once the laws change:

“We knew that people who were in that room could help us make the beer correctly, because at the time, we didn’t know what we were doing,” Boyle explained in his Irish lilt, which distinguishes him from most stoner bros. Walsky and Boyle teamed up with chemical engineer Bill Stewart from Half Baked Labs, an edibles business, to understand how to work with these new ingredients. The brewery also works with a company called True Terpenes, which extracts terpenes from non-cannabis plants and then mimics strains like OG Kush and Pineapple Express in the form of oils. “There are a lot of questions out there about the efficacy of synthetic CBD, so ultimately we decided to go with one extracted from plant material. It’s more studied at this point,” says Boyle.

Coalition couldn’t — or wouldn’t — tell me everything about how it makes its CBD beers. “The product that we use allows us to stay in full compliance, so we’ve kind of been spearheading [the commercial CBD beer business] in Oregon,” Walsky said. When the DEA stated that CBD, as a cannabis extract, falls under the Controlled Substances Act, it forced Coalition to reformulate. After experimenting with various batches, Coalition released Two Flowers IPA, its first CBD beer, in December 2016.

With some breweries feeling a bit of a pinch due to legal cannabis, it would make a lot of sense to see more beers infused with hemp (for now) and cannabis in the future in the U.S., and really, really soon in Canada. There’s a saying that, if you can’t beat ’em join ’em. I for one, welcome beer and alcohol companies into the cannabis community. Let’s work together to craft laws that allow responsible adults to be responsible adults. If you need any guidance, make sure to attend the International Cannabis Business Conference in Portland, Oregon, this September 27th to 28th and let’s build a market that works best for craft brewers and cultivators alike.

 

 

Florida May Vote to Legalize Cannabis in 2020

Written by Anthony Johnson on . Posted in Business, Politics.

A strong majority of Florida voters first voted to legalize medical cannabis in 2014, but the will of over 57% of Floridians went unheeded as Sunshine State law requires that constitutional measures require at least 60% of the vote. Undeterred, activists went right back to the ballot in 2016, winning overwhelmingly as more than 61% of voters cast ballots for medical marijuana. John Morgan, a local attorney and major financial backer of the medical amendments, now has his eyes set on 2020 to end cannabis prohibition for all adults.

Naples News reported:

Morgan said he is speaking with U.S. marijuana companies to raise enough money to get a proposed constitutional amendment on the ballot and would personally contribute any needed funds. He estimates the campaign would need about $5 million.

“At this particular time in America, people are tired of arguing about marijuana. Just legalize it and let it be,” Morgan said in an interview with The USA Today Network – Florida this week. “It’s a 21st-century business as we are losing jobs to robots and artificial intelligence.”

Morgan hasn’t settled on the details of a legalization amendment other than it would allow adults to use marijuana recreationally, similar to laws in place in Colorado and California.

Latest polls show support for legal cannabis greater than ever, at over 60%, so Floridians activists have  a good shot at ending the failed, harmful, and racist policy of prohibition in a presidential election year with good turnout. Six out of ten voters is certainly a tall task as no state legalization proposal has garnered that big of a portion of the vote, although California got relatively close, with just over 57%.

With 9 states now with legal cannabis, along with our nation’s capital, John Morgan and other legalization backers will be able to point to the success stories of several other states, along with the entire nation of Canada. Hopefully, advocates are successful and Florida, with its booming tourism industry, will be enjoying more freedom, jobs, and revenue thanks to legal cannabis in just a few short years.

Learn about the latest legal, political, and business developments in cannabis at the upcoming International Cannabis Business Conference this September 27th-28th in beautiful Portland, Oregon. Get your tickets by September 12th to save yourself $200!

Boston Massachusetts

Cannabis Commerce in Massachusetts Inches Closer to Reality

Written by Anthony Johnson on . Posted in Business, CBC Portland, Cultural, Politics.

On July 1st, when Vermont officially legalized personal cannabis possession and cultivation, but not any marijuana sales, Massachusetts’ legalization law called for the state to permit cannabis commerce. Unfortunately for consumers, there aren’t any retail stores up and operating, but good news is on the horizon as Bay State regulators did issue the very first provisional retail license.

Rolling Stone reported:

Massachusetts voters legalized recreational marijuana on November 8th, 2016. But in the 600 or so days since, a cautious bureaucracy and hesitant local communities have slowed the advent of recreational marijuana dispensaries. July 1st was the first day licensed stores could sell marijuana, but the Cannabis Control Commission (CCC) – the body that regulates weed in the state – has not yet issued any licenses to retail outlets.

On Monday, the regulators finally approved the first recreational retail license in the state for a dispensary in the central Massachusetts town of Leicester. However, it will still be some time before it opens: Regulators need to approve a laboratory to test recreational marijuana before dispensaries can begin sales and all approved dispensaries are subject to inspections before they can welcome customers.

Since legislation only stipulated when marijuana sales could begin – not when they had to begin – no deadline was missed, CCC chairman Steven Hoffman tells Rolling Stone, adding that the commission is working effectively to get licensing done right the first time. “There is no legislative mandate for a start date for this industry: It’s do it right, to do it right for the long term. And that’s exactly what’s happening,” he says.

As MassLive.com noted, as of July 1st, Massachusetts officials should be licensing many more businesses within the next three months:

As of Monday, the Massachusetts Cannabis Control Commission was considering 63 license applications that included all four of the required packets of information – an application of intent, a background check, a management and operations profile and payment of the application fee, the commission said.

That means many applicants intent on getting licensed to operate a recreational  marijuana business so far have submitted applications with less than the four required packets.

The commission has received a total of 1,694 applications: 1,453 are incomplete; 151 are pending, meaning they contain at least one of the required packets; 89 have been withdrawn; and one license has been issued provisionally, the commission said.

The commission has 90 days to issue a provisional license or deny an application.

The rollout of cannabis commerce must be excruciatingly slow for Massachusetts cannabis companies and consumers, but I would urge all to try their best to be as patient as possible. Massachusetts was the first state to select a longtime cannabis legalization activist (Shaleen Title) to be the head regulator and establish an equity program designed to give priority to applicants that show they will financially empower communities harmed by prohibition and assist people from those communities open up cannabis businesses.

Each state that legalizes cannabis has the opportunity to positively impact other states, particularly nearby neighbours. Massachusetts’ system may influence New Jersey, New York, Rhode Island, Delaware, and other New England states on the verge of ending cannabis prohibition. While the Bay State cannabis community is certainly anxious for sales to begin, I hope that folks can take a moment to appreciate the freedom they enjoy over most U.S. residents, and take comfort in knowing that more jobs and revenue will soon follow.

Stay up-to-date on the latest developments around the U.S. and the world at the upcoming International Cannabis Business Conference in Portland, Oregon, this September 27th-28th. Be sure to get your tickets by September 12th to save $200 and ensure that you have a spot reserved before the event sells out!

 

cannabis

Oregon Cannabis Prices Down, But Revenue Remains Substantial

Written by Anthony Johnson on . Posted in Business, CBC Portland, Politics.

Cannabis officially became legal to possess and cultivate in Oregon on July 1st, 2015. Three years later, the Beaver State has become a cannabis consumers paradise. Advertisements for $3 grams are common, with “bulk” deal of $5 for 3.5 grams available as well. At times, you may even see $1 grams for sale, especially when you purchase a full ounce (28 grams). If you are an Oregon Medical Marijuana Program patient, Portland dispensary Panacea actually donates free medicine. While cannabis prices have come down dramatically, overall sales and the tax revenue generated remain steady and substantial.

Wholesale prices of cannabis have dropped in all legal states, but nowhere as dramatically as Oregon as the Willamette Week reported:

The national average price for a pound of cannabis was about $1,789 in 2016, but had fallen by 13 percent to $1,562 by the end of 2017, according to the Cannabis Benchmarks U.S. Spot Index, which tracks marijuana prices.

***

The price has tumbled much lower here than the national average: Oregon’s wholesale sun-grown weed fell from $1,500 a pound last summer to as low as $700 by mid-October.

Other states’ legal marijuana markets have been similarly suffering from a downturn in prices. Some attribute the falling prices to an unpredictable market, oversaturation and even corporate consolidation in the industry.

The drop in wholesale cannabis prices has been problematic for many craft growers and mom-and-pop retail stores. Those managing to thrive have had to make up for the drop in prices by increasing volume and becoming vertically integrated.

As the Bend Bulletin covered, profits can remain steady even with prices falling:

Local cannabis retailers reported similar sales trends at their stores. The price of dried marijuana flower fell about 30 percent in the past six months, said Mark Capps, of Oregon Euphorics on SW Century Drive in Bend. That translates to a drop from $12-$18 per gram to $8-$15 per gram, depending on the strain. “There’s a race to the bottom right now as far as price,” he said.

Still, the shop is holding its own in terms of sales, which are “somewhat” increasing, he said.

“Even though prices are falling, our margins are about the same,” Capps said.

As the Mail Tribune noted, Southern Oregon cannabis pioneer, Brie Malarkey vertically integrated and expanded even in the face of more competition:

Malarkey started with a farm and Breeze Botanicals in Gold Hill. Now she has another store in Ashland, along with a processing facility in Medford. She employs about 40 people with a monthly payroll of about $45,000, or more than $500,000 annually.

When Malarkey started her business in 2014, her Gold Hill store was the only OLCC licensed facility in the county. Now, the Oregon Liquor Control Commission lists 34 active licenses for retailers in the county, with another 18 pending applications.

Revenue forecasts for the state continue to exceed initial expectations with sales buoyed more than expected by increased demand from residents and tourists alike. Also, these projections probably downplay sales initially because they are partly based on surveys that people may not be truthful on as they are reluctant to state their actual intake of a still-federally-illegal substance.

It is going to be extremely interesting to see the Oregon market evolve over the coming years. It is hard to see prices coming down too much further for now, so businesses need to adapt to the current market through marketing and branding, and, if feasible, consolidation and vertical integration.

While we continue to work to end federal prohibition, which will open up new markets for growers, the cannabis industry needs to unite behind changes to state law that will promote more tourism.  Legalizing cannabis cafes, an idea that Portland officials are behind, is a huge key to increasing sales, profit margins, and tax revenue, a true win-win-win for the entire state.

Get informed about the latest cannabis industry developments and network with top entrepreneurs, investors, and advocates from around the world at the next International Cannabis Business Conference in beautiful Portland, Oregon, this September 27th-28th. Get your tickets by September 12th to save $200!

Oregon coast

The Oregon Coast Experiencing Elevated Cannabis Sales

Written by Anthony Johnson on . Posted in Business, CBC Portland, Cultural, Politics, Social.

The Oregon coast provides breathtaking natural beauty, great seafood, and some of the highest per capita cannabis sales in the state. Local retail stores seem to believe that tourists were a big boost to the market as travellers are stopping in to experience state-legal marijuana from regulated stores, where they know that their products have been tested for impurities, THC, and CBD, as Fox 12 reported:

“At this point, it’s still a novelty so a lot of tourists are coming in and never seen legal weed,” Andrew Sauls said. “It’s exciting and maybe it’s completely nerve-racking and they walk through the door and they want the experience.”

Sauls manages the dispensary Five Zero Trees in Cannon Beach and Astoria.

“There’s days we will be as busy if not busier than some of our Portland stores,” Sauls said.

He said he’s not surprised the northern coast held its own in pot sales.

“Tourists they’re on vacation, so they’re already expecting to come down and have some fun and, you know, this is part of the expenses of that vacation,” Sauls said.

According to Fox 12, Clatsop County (home to just 39,000 people, including District Attorney Josh Marquis, one of the main anti-legalization zealots in the state) ranked 6th in per capita sales with $208 per resident, Tillamook ranks 5th at $214, and third-place Lincoln County actually outpaced Multnomah (the largest and most progressive county) with $284 per resident to $220. Whether the residents and tourists are utilizing cannabis medicinally or recreationally, or both, they are helping create jobs and generate revenue for Oregon’s schools, drug treatment programs, and other important state programs.

While there may be quite a few tokers in these small coastal cities, these per capita sales demonstrate the importance of tourism to the Oregon cannabis market and the state as a whole as the economic benefit filters out throughout our society. With Canada fully legalizing on October 17th and more states ending prohibition just about every year, it is important that Oregon remains a tourist destination for the cannabis community.

As travellers realize that California’s Bay Area, Las Vegas, and Vancouver, Canada, allow cannabis cafes, it will behove Oregon to keep pace. It is great that Oregon gives tourists an opportunity to legally purchase cannabis, the Beaver State should also allow safe, regulated locations where people can responsibly utilize cannabis with other like-minded adults.

Learn the latest about the Oregon cannabis system, and markets across the U.S., and the world at the International Cannabis Business Conference this September 27th-28th. Get your tickets by September 12th to save $200!

WelcomeToCaliforniaSign

Most Populous U.S. County Set to Legalize Cannabis Commerce

Written by Anthony Johnson on . Posted in Business, CBC Portland, CBC San Francisco, Politics.

Licencing of cannabis businesses has been rather slow out of California since the state started accepting applications last December. The deliberate pace caused for early economic projections to be downgraded by some analysts, a rare occurrence thus far as most states have exceeded initial estimates. The California market is about to get a shot of adrenaline as Los Angeles County, the most populous county in the United States, is finally ready to welcome licensed and regulated commerce within its boundary, officially considering three options, as Hilary Bricken notes in AboveTheLaw.com:

For option number 1, the County came up with 8 components that would make up a comprehensive regulatory framework for all license types “that promotes health equity, ensures the health and safety of consumers and people living and working nearby, prevents cannabis businesses from causing blight or becoming nuisances in their communities, takes residents’ concerns into account, and does not promote commercial cannabis activities at the expense of other considerations.” Those components are to:

  1. Establish a cannabis commission to oversee the licensing and regulatory enforcement program in conjunction with the existing Office of Cannabis Management.
  2. Complete a health impact assessment on the health equity impacts of permitting cannabis businesses in unincorporated areas. This assessment would inform the county regarding the communal impact stemming from regulation and the establishment of cannabis businesses within certain communities.
  3. Create permits to allow cannabis stores, delivery services, indoor cultivation, manufacturing, distribution, and testing laboratories in unincorporated areas. Outdoor cultivation would be a no-go.
  4. Institute permit caps. In the first two years of the program, there would be no more than 25 cannabis store permits, with no more than 5 store permits per supervisorial district and no more than 2 cannabis store permits in any one unincorporated community. There would also be 25 cannabis delivery-only permits, with no more than 5 delivery-only permits per supervisorial district, 10 cultivation permits, 10 manufacturing permits, 10 distribution permits, and 10 testing laboratory permits.
  5. Institute zoning limitations and buffers. Cannabis stores, delivery, and testing laboratories would only be allowed in heavy commercial and manufacturing zones and all other commercial cannabis businesses could only go into manufacturing zones. Stores would be required to locate not less than 1,000 feet from schools (K-12), 600 feet from day cares (including preschools), public parks, public libraries, licensed drug and alcohol treatment centers, and other cannabis stores, and 300 feet from off-site alcohol sales, such as liquor stores. All other commercial cannabis businesses would need to locate not less than 1,000 feet from schools (K-12) and 600 feet from day cares (including preschools), public parks, and public libraries. Maps of where operators could potentially go can be found here.
  6. Come up with a social equity program to reduce barriers to entry for those who were disproportionately impacted by the War on Drugs.
  7. Create a 15-member stakeholder advisory board to assist the cannabis commission and the board of supervisors.
  8. Create a business license category for commercial cannabis businesses (in addition to the required permits). The County is also discussing tax proposals for commercial cannabis activity if it opts to institute comprehensive regulation.

***

Proposed County Option 2 would limit the types of businesses that could engage in a cannabis business in the County. It might do this by, for example, allowing only medical cannabis but no adult use cannabis, or just by allowing retail and delivery in an effort to curb the gray and black market shops that continue popping up.

County Option 3 would continue the ban on commercial cannabis activity in all portions of unincorporated LA County. Without exception, all of my firm’s California cannabis lawyers see this as unlikely to happen given the time and money the County has already spent analyzing its options and givn how many tax dollars it will lose by not going forward. LA County need only look at its inability to shut down illegal operators to know that its implementing comprehensive (or even limited) regulation will likely help with identifying good versus bad actors. If Los Angeles County wants to succeed with its cannabis regulations it will go with Option 1 and that is exactly what I see it doing.

Not only is Los Angeles County the most populous county in the U.S., but it’s also one of the most powerful economies in the world. Located within a state that is the 6th largest economy in the world, L.A. County would be ranked in the top 25 largest economies in the world by itself, with a gross domestic product of over $700 billion, a larger economy than Argentina, Belgium, and Sweden. California greatly aided the movement to end cannabis prohibition and it is important that the Golden State irons out its regulatory kinks, for both its own economy, but also for our greater movement. With Los Angeles County coming on board, it’s only a matter of time before the California cannabis industry starts realizing its vast potential.

Keep up to date with the latest info regarding the cannabis industry and network with top professionals, investors, and advocates at the International Cannabis Business Conference in Portland, Oregon this September 27th-28th. Get your tickets by September 12th to save $200! If you can’t make Portland, for some reason, the ICBC returns to San Francisco February 7th-8th, 2019. 

marijuana and wine

Cannabis Industry Eclipses Wine in Southern Oregon

Written by Anthony Johnson on . Posted in Business, CBC Portland, Politics.

There are several reasons to expect the cannabis industry in the United States to surpass the economic impact of the wine industry once federal cannabis prohibition ends. Canada’s cannabis industry, about to take off under a full legalization law on October 17th, is expected to rival wine in a few years and sales in the limited number of legal states are already inching close to wine sales in the U.S.

The Oregon cannabis industry, without the ability to export across state lines, has about 1/3 of the economic impact of the wine industry already, just over $1.2 billion for marijuana, compared to about $3.3 billion for wine. Damian Mann reported in the Mail Tribune that the cannabis industry has already exceeded wine business’ economic impact in Southern Oregon in many ways, including the number of jobs and average annual pay:

The local cannabis industry, which includes 37 farms and 19 retail stores in the program’s database, employs 439 with total payroll of $12.58 million. The wine industry employs 355 with total annual wages of $10 million.

Not all wineries, vineyards or pot businesses are in the unemployment insurance program, but the data give some idea of marijuana’s rise as an economic player in Southern Oregon.

Cannabis pays better than the wine industry, too. The average annual wage for cannabis farms is $33,731, and for retail stores it’s $24,988, according to the Employment Department. Wineries pay an average wage of $29,512, while vineyards pay $25,478.

The competition is extremely tough in any cannabis market, especially Oregon, with relatively low barriers to entry and no limit placed on the number of licensed businesses (although a “pause” on processing applications has just gone into place). Despite the competition, and regulatory hurdles, it is great to see that many in the industry are creating jobs and creating a positive economic impact, especially in Southern Oregon, arguably the best area to produce cannabis in the world. Once Uncle Sam finally ends cannabis prohibition, a day that is getting closer and closer, Southern Oregon farmers, and the ancillary businesses around them, will truly flourish.

Learn the latest about the cannabis industry in Oregon and beyond at the International Cannabis Business Conference in beautiful Portland September 27th-28th.  Get your tickets by September 12th to save $200!

Big Alcohol and canabis

Corona Owner Wins on Canadian Cannabis, Interested in the U.S.

Written by Anthony Johnson on . Posted in Business, CBC Portland.

Constellation Brands, the owner of Corona Beer and Robert Mondavi wine made big news when the company bought a stake of Canopy Browth, the largest cannabis producer in Canada and the first cannabis company to be listed on the New York Stock Exchange. That investment has paid off as Consteallation has already netted a $700 million windfall according to Chief Executive Officer Robert Sands in a conference call to reporters, while noting that the company would be interested in making a similar investment in the U.S. once federal law changes, as Bloomberg reported:

Sands suggested the company might invest in the U.S. market if it would be legal to do so. While marijuana is outlawed at the federal level, Massachusetts will on Sunday become the seventh state to allow recreational sales.

“We are not going to do anything that is volative of federal law, but we are looking closely at that issue and making sure we understand what we can do and what we can’t do,” he said. If it’s legal, “we will do it,” he said.

Constellation paid about about C$245 million ($186 million) for an almost 10 percent stake in Canopy in October. Sands said earlier this year that the alcohol giant and Canopy are developing a pot-laced beverage for the Canadian market.

Constellation’s financial gains in the cannabis world come at a good time for the company as its stock prices just took a dip after profit margins dropped. Once federal prohibition ends, it looks like there will be some competition from a couple of other brewers as well as a tobacco company, according to Investor’s Business daily:

In an effort to get ahead, Heineken (HEINY)-owned Lagunitas, a brewer in California, said this week it will launch a THC-infused sparkling water in California dispensaries on July 30. Sands said Constellation was “pretty interested” in what Lagunitas was doing, and how it was doing it.

Lagunitas’ cannabis beverage, Hi-Fi Hops, stems from a collaboration with AbsoluteXtracts, which is part of CannaCraft, a California marijuana producer.

***

Molson Coors (TAP) is also reportedly weighing whether to partner with a Canadian marijuana company to offer cannabis-infused drinks. U.K. tobacco company Imperial Brands (IMBBY) this week said it was investing in a medical marijuana research company.

Alcohol companies entering the cannabis market are too be expected and we should seek to capitalize on the benefits they provide. Beer is about as American as apple pie and cannabis-infused products provide a new revenue stream as well help bring cannabis into the mainstream. As big companies enter into the cannabis market, we must work even harder to ensure that regulations don’t become too burdensome and that we stay true to our foundational principles of keeping people out of prison and helping patients in need. We can seize economic opportunities while staying true to our cause for freedom.

To stay up to date on the latest developments in the cannabis industry and network with top investors, entrepreneurs, and activists in the industry, join us in Portland, Oregon, for the Internationational Cannabis Business Conference this September 27th-28th. Get your tickets by September 12th to save $200!

U.S. Farmers, Especially in Oregon and Kentucky, Look to Hemp

Written by Anthony Johnson on . Posted in Business, CBC Portland, Cultural, Politics.

Cannabis gets most of the headlines, whether it is Canada ending prohibition, or GW Pharmaceuticals getting FDA approval for Epidiolex, medical use passing in the (very) conservative state of Oklahoma, or legalization supporters winning at the ballot box, but hemp has also made remarkable strides politically. After decades of seemingly* getting banned due to Reefer Madness propaganda around marijuana, hemp will be federally legal shortly if the Senate’s newly-passed Farm Bill gets signed into law. (I’m usually a skeptic, but one conspiracy theory that I believe is that cannabis was initially made illegal because of the economic impact hemp would have on other industries, and not that hemp was made illegal because of the psychoactive effects of cannabis. Motivations changed over time, however.)

Politics makes strange bedfellows and if you pay attention to our national discourse, you would know that Oregon’ Senators, Jeff Merkley and Ron Wyden, rarely agree with their counterparts in Kentucky, Mitch McConnell and Rand Paul. Hemp is one issue that bridges that divide, due to the financial opportunities that the hemp industry provides their respective states, as Senator Wyden explained to OPB:

He believes legalizing hemp could be a big opportunity for job growth in Oregon. “We have several hundred farmers who are interested in this,” he said.

It’s not only Oregon farmers interested in growing and selling hemp. Farmers in Kentucky latched onto the opportunity as well.

“All of a sudden we had a bipartisan coalition, with two states with lots of farmers who are really interested in this,” Wyden said.

Jack Herer, the godfather of the hemp and cannabis legalization movement, said often that, “Hemp can save the world.” The environmental benefits of the plant are certainly needed more than ever. It is rare to have a win-win for the environment and business, but hemp is that rare example.

Hemp is a renewable resource with literally thousands of uses. Those multitude of uses provide ample economic benefits for those in the hemp industry, which has a rather symbiotic relationship with the cannabis industry, an example being CBD Naturals sponsoring the recent International Cannabis Business Conference in Vancouver. The hemp industry is growing with the cannabis industry and the future looks bright for hemp farmers, processors, and ancillary business ideas. Hopefully, the Senate Farm Bill will get signed into law soon and the United States can start to unleash the potential of the hemp plant. Hemp for Victory!

Learn about the latest developments for cannabis and hemp at the International Cannabis Business Conference in Portland, Oregon, this September 27th-28th. Get your tickets by September 12th to save $200!

Photo courtesy of Lesley L. via Flickr.
US Capitol

Senate Minority Leader Introduces Cannabis Descheduling Bill

Written by Anthony Johnson on . Posted in Business, CBC Portland, Politics.

Senate Minority Leader Chuck Schumer shocked the political world when he announced that he would introduce a bill to end federal cannabis prohibition by descheduling marijuana from the list of federally controlled substances. Of course, Schumer decided to announce his evolution on cannabis policy on April 20th. Here’s what the New York Democrat wrote about his change of heart, a Medium piece titled “Why I Changed My Stance on Marijuana“:

When looking at the support for legalization that clearly exists across wide swaths of the American population, it is difficult to make sense of our existing laws. Under current federal law, marijuana is treated as though it’s as dangerous as heroin and more dangerous than cocaine.

A staggering number of American citizens, a disproportionate number of whom are African-American and Latino, continue to be arrested every day for something that most Americans agree should not be a crime. Meanwhile, those who are entering into the marijuana market in states that have legalized are set to make a fortune. This is not only misguided, but it undermines the basic principles of fairness and equal opportunity that are foundational to the American way of life.

That is why I am not only announcing my support for decriminalizing marijuana at the federal level. I am also announcing that in the coming weeks, I will be introducing legislation aimed at achieving this goal. This legislation will allow each state to ultimately decide how they will treat marijuana. In addition to freeing up the residents of each state to make the decisions on what’s best for them, the bill will make targeted investments which are necessary to protect public health and safety and ensure that members of all communities are able to participate in the new and thriving marijuana economy.

The top Senate Democrat made good on his promise yesterday, introducing the Marijuana Freedom and Opportunity Act, a progressive proposal that would greatly benefit the country by turning the page on the failed, harmful, and racist War on Cannabis. Marijuana Moment reported on the historic bill, noting some important benefits above and beyond simply ending federal prohibition:

The legislation, which is cosponsored by Sens. Bernie Sanders (I-VT), Tim Kaine (D-VA) and Tammy Duckworth (D-IL), would also set aside $20 million annually to states and municipalities for the purpose of administering, expanding or developing expungement or sealing programs for marijuana possession convictions. No less than half of the funds would be earmarked for public defenders and legal aid providers.

Another provision, according to its section title, would “level the economic playing field” in the cannabis industry by requiring the Treasury Department to annually transfer an amount equal to 10% of total tax revenue generated by marijuana or $10 million, whichever is greater, to an account called the Marijuana Opportunity Trust Fund. Grants would be doled out by the Small Business Administration to industry outfits controlled by women and socially and economically disadvantaged people.

“The time to decriminalize marijuana is now,” Schumer said in a press release. “The new Marijuana Freedom and Opportunity Act is about giving states the freedom to be the laboratories that they should be and giving Americans – especially women and minority business owners as well as those convicted of simple possession of marijuana intended for personal use- the opportunity to succeed in today’s economy. This legislation is simply the right thing to do and I am hopeful that the balanced approach it takes can earn bipartisan support in Congress and across the country.”

The Marijuana Freedom and Opportunity Act is a great step forward for the cannabis legalization movement and provides a great foundational building block for future federal efforts. Having the top Democratic Senator support such a progressive bill is a major victory for the movement and the bill provides a proper perspective on the important issues facing the cannabis community.

Senator Schumer seeks to unleash the economic benefits of the cannabis industry by opening up commerce across state (and even international borders) while helping mom-and-pop businesses, and erasing some of the harm inflicted by victims of the Drug War. So long as the cannabis community remains focused on showing the benefits of legalization and supporting officials that back the Marijuana Freedom and Opportunity Act and other similar bills, the days of federal prohibition are numbered.

Learn more about federal and state efforts to end the War on Cannabis and unleash the positive economic and social benefits of the cannabis industry at the International Cannabis Business Conference this September 27th-28th in Portland, Oregon. Get your tickets by September 12th to save $200! 

Canopy pitch winner

Congratulations Million-Dollar Pitch Winner, Bella Vista Cannabis!

Written by Anthony Johnson on . Posted in Business, CBC Vancouver, Social.

Negotiations are still underway as Bella Vista Cannabis has the potential to receive up to $1 million dollars in funding from Canopy Rivers, in collaboration with Canadian cannabis and hemp producer Canopy Growth. Bella Vista Cannabis founder Mike Mathews made his pitch to four “Micro Cannabis, Macro Impact” judges in front of a crowded Sheraton Wall Centre conference room filled with Vancouver International Cannabis Business Conference attendees. In addition to capital from Canopy Rivers, Bella Vista also qualified for a marketing and branding package from Civilized worth in excess of $65,000.

Hosted by ICBC MC and a star of Netflix’s “Cooking on High,” Ngaio Bealum, the “Best Pitch” contest was an entertaining and engaging event that was an interesting detour from the usual conference curriculum. Competitors also included a lab, a startup developing tech that controls and improves the cultivation process, and a craft cannabis retail store chain. Judges included Canadian cannabis icon and pioneer Hilary Black, activist attorney Kirk Tousaw, Canopy Rivers COO Olivier Dufourmantelle, and House of the Great Gardner owner Mat Beren.

Ms. Black congratulated all of the pitchers and expressed her admiration for their courage to put themselves out there and urged them all to follow their dreams. Balck told the Vancouver Sun that Mathews, a fifth-generation farmer, edged out the tough competition because of his dedication to the environment and social consciousness, demonstrating important for the cannabis community as legalization in Canada emerges:

“I really believe that the cannabis industry needs to become the most socially responsible industry in the world.”

“We are just on the verge of being one of the first countries in the world to legalize cannabis for recreational purposes. I would say the cannabis industry is about to take off and we have the potential to do a lot of good for the world.”

“There are great economic benefits to the country and communities and we will lead the world in repealing this tremendously harmful prohibition that we have been living under for 100 years,” she said.

Everyone involved with the International Cannabis Business Conference was proud and honored to have produced the first marijuana industry event after the passage of the Cannabis Act. For the last four years, the ICBC has traversed the globe to present the best information available, provide exemplary networking opportunities, and continue the momentum of cannabis legalization by promoting the economic benefits of the industry while maintaining a focus on the foundational principles of keeping people out of prison and taking care of patients. Canopy Rivers “Micro Cannabis, Macro Impact” million-dollar pitch event was a perfect fit for the Vancouver ICBC.

We’ll be following the future endeavours of Bella Vista Cannabis and look forward to future events that help good people do good business. With the historic Vancouver conference now in the rearview mirror (a sincere thanks to everyone that attended the event and helped make it such a success), the ICBC continues playing its part in the global momentum for sensible cannabis laws in beautiful Portland, Oregon, on September 27th-28th to provide a focus on current and future cannabis laws and regulations in the United States.

Secure your tickets to the Portland ICBC by September 12th to save $200.

Cannabis plant

FDA Approves Epidiolex, It’s First Cannabis-Based Medicine

Written by Anthony Johnson on . Posted in Business, CBC Portland, Medical, Politics.

It was bound to happen eventually as the United States government couldn’t deny the medicinal benefits of the cannabis forever. While Uncle Sam had previously approved Drobinal, synthetic THC drug, GW Pharmaceutical’s Epidiolex is Cannabidiol (CBD) derived from the actual cannabis plant. The FDA’s approval of the epilepsy/seizure treatment is a somewhat complicated blessing and a potential curse for medicinal marijuana programs across the nation. The ball is now in the DEA’s court as the Drug Enforcement Administration has to sign off on the drug before it can be prescribed.

On one hand, it is a great step forward for the medical cannabis movement that that FDA certified that the cannabis plant itself has medicinal properties and that patients suffering from seizures can get relief, particularly those that live in states without effective cannabis laws on the books or would otherwise not use a non-FDA approved medicine. It is great news for patients in prohibition states, as everyone’s hearts have to go out to those that have been without an effective treatment for epileptic seizures, especially young children.

As more patients benefit from Epidiolex (if the DEA allows the medicine), it will likely open more eyes to the folly of the War on Cannabis and educate more people about the medical benefits of the misunderstood plant. More research should go into studying other cannabinoids, eventually providing patients with more life-improving and life-saving cannabis-based medicines.

The danger of Epidiolex to the cannabis community is the money that Big Pharma may use to lobby Congress to eliminate state medical programs. State medical laws remain extremely important because many patients have found particular strains are best for their condition and that they need THC or other cannabinoids as well as CBD to treat their condition. A lot of patients also find it very therapeutic to tend to their own gardens. We must be more active than ever to protect the will of the voters and the health of patients in medical cannabis states against the likely onslaught from Big Pharma.

So long as federal law protects state medicinal systems from interference, such as the Rohrabacher-Blumenauer Amendment has, then the approval of cannabis-based medicines pose no threat. However, it is understandable that some patients and their advocates are wary. Some Reefer Madness prohibitionists are already claiming victory in their war against patients, claiming that this is the “beginning of the end” for medical cannabis. We’ve defeated these anti-patient zealots time and time again since 1996, and we must remain vigilant to defeat them again and again as they are backed by bigger and bigger checks from Big Pharma.

What does Big Pharma’s plans mean for the cannabis community and industry? What opportunities may arise from the continued education about the cannabis plant? How will adult-use and medical programs coexist due to changes in state and federal law? Learn more about these topics and more at the upcoming International Cannabis Business Conference in Portland, Oregon, this September 27th-28th. Get your tickets by September 12th to save $200 and secure your spot before the event sells out.

 

Rollins ICBC Vancouver

After an Epic Event in Vancouver, the ICBC Returns to Portland

Written by Anthony Johnson on . Posted in Business, CBC Portland, Cultural, Politics.

Henry Rollins brought people to their feet, Canadian industry experts shared their knowledge, Canopy Rivers selected a young company to fund, Civilized agreed to help market Bella Vista (who won Canopy’s “Micro Cannabis, Macro Impact” pitch competition), PRØHBTD Media shared branding tips, Netflix’s “Cooking on High” star Ngaio Bealum had the crowd laughing, and Del the Funky Homosapien had conference attendees dancing the night away. To say that the latest International Cannabis Business Conference in Vancouver was epic is not hyperbole. The first cannabis conference in a truly legal state was an energetic, inspiring event from beginning to end.

It will be hard to match Vancouver, but I think that Portland, Oregon, is up to the task.  Oregon has created 19,000 jobs and is currently bringing in $80 million in new tax revenue a year. Yes, the competition is extremely tough in Oregon with the plentiful number of licensees pushing prices down to a level that creates a consumer’s paradise, but is certainly an obstacle for growers. With positive movement on the federal level, relief may be on the way for many businesses. Most importantly, marijuana arrests and citations have plummetted, and old convictions have been expunged from records.

The STATES Act, while not perfect, would open up the possibility of legal cannabis states to agree to allow commerce across state lines, a development that would be a boon for Oregon’s fantastic cultivators. Representative Earl Blumenauer and Senators Ron Wyden and Jeff Merkley have become some of the biggest proponents of states’ right to legalize in Washington, D.C., and Portland’s Mayor Ted Wheeler, is one of the founding members of the Government for Responsible U.S. Cannabis Policy Coalition. The Oregon cannabis community has been an effective lobbying force and most of the state’s congressional delegation votes the right way when federal reform bills are introduced.

With more states legalizing adult-use and medical cannabis in the near future, and the prospect of the federal government finally ending prohibition in the next few years, the future is bright for the cannabis community in Oregon and across the United States. The ICBC will be a great time to network, learn, and continue the movement for more freedom, jobs, and revenue.

Get your tickets to the Portland ICBC by September 12th to save $200.

Vancouver ICBC VIP Party

After Epic VIP Party, Vancouver ICBC Program Kicks Off Today!

Written by Anthony Johnson on . Posted in Business, CBC Vancouver, Cultural, Politics, Social.

After another electric VIP party featuring Henry Rollins filled with good vibes and great networking, the International Cannabis Business Conference’s program in Vancouver begins this morning (Monday, June 25th), with a keynote address by Mr. Rollins followed by presentations from top experts across the industry. After a day of learning the latest about the Canadian cannabis industry, with some international knowledge sprinkled in, conference attendees will unwind with the musical stylings of hip-hop legend Del the Funky Homosapien.

A unique and exciting addition to the usual informative conference schedule, this year’s ICBC features a million-dollar pitch project from Canopy Rivers in collaboration with Canopy Growth. The “Micro-Cannabis, Macro Impact” event is bringing future Canadian licensees to present before a group of judges to earn capital from Canopy Rivers to help jump-start their business venture. Good luck to everyone participating!

Unless you have been living under a rock, you know that Canada just passed the first truly full legalization law (including home cultivation and sales to adult tourists!), so it is the perfect time for anyone in the industry, or thinking of joining the industry, to learn from, and network with, top Canadian industry participants. The ICBC includes a who’s who of Canadian advocates and entrepreneurs including Groundworks’ Jamie Shaw, Hilary Black of Canopy Growth, MMJ Canada’s Clint Younge, Stephen Verbeek of Hello Cannabis, attorneys Kirk Tousaw and Robert Laurie, and more!

With branding, marketing, and strategic partnerships so important in this competitive business, industry participants will be able to learn from PRØHBTD Media’s Drake Sutton-Shearer and Civilized’s Derek Riedle, among others. PRØHBTD is even holding a branding seminar exclusively for the first 50 attendees that sign up.

With Netflix’s Cooking on High star Ngaio Bealum as MC, and Del the Funky Homosapien performing at the ICBC afterparty, the Vancouver ICBC will be entertaining as well as engaging and informative. There are just a few tickets left before the event sells out, so if you can make it to the Sheraton Wall Centre in beautiful Vancouver, British Columbia, get yourself a ticket and be a part of this historic event, the first cannabis conference held in a nation that’s passed a full legalization law.

Vancouver ICBC Kicks Off This Sunday!

Written by ICBC Staff on . Posted in Business, CBC Vancouver, Cultural, Social.

Cannabis law reformers and industry participants have a lot of reasons to celebrate and there’s no better place to be than the International Cannabis Business Conference in Vancouver which kicks off with an exclusive VIP party Sunday, June 24th. The iconic Henry Rollins will be on hand to give a speech and meet with party attendees as entrepreneurs, investors, employers, and advocates network and mingle. Many business deals have been developed at ICBC events since the first conference four years ago. With Canada passing the historic Cannabis Act, there’s never been a better time to attend the ICBC.

Even though Henry Rollins doesn’t use cannabis, he explained why he’s passionate about ending prohibition to Leafly:

“They’re after brown people and people like me—white people who talk about it,” he says. “The brown, the female, the gay—and I felt I was part of that coming from music. Being in Black Flag, we were easily identifiable by cops. They would let us know that they recognized us. I felt, in a way, ‘You want me gone, too.’ They really didn’t hide that.

A drug conviction, he stresses, was a powerful tool for police to remove dissidents from voting rolls, prohibit those convicted from getting jobs, and get them refused apartments.

“While I don’t use cannabis, I advocate for its legalization and decriminalization,” he says. “This is why. I’ve seen this war on people.”

On Monday, June 25th, Rollins will kick off the ICBC program with a passionate keynote address calling upon the cannabis industry to keep in mind patients and the victims of the Drug War. After Rollins’ speech, the conference schedule will update attendees on the latest developments in Canada, with some global news sprinkled in, as leaders among various fields share information as well as tips and tools of their respective trades. After the conference, the networking, and fun, continues as conference participants get to enjoy an exclusive concert performance from hip-hop legend Del the Funky Homosapien.

If you are in the cannabis business, or are thinking of taking the plunge, the International Cannabis Business Conference in beautiful, cannabis-friendly Vancouver is the place to be. Get your tickets before they sell out and be a part of history!