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Georgia Awards Six Medical Cannabis Business Licenses

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LAS VEGAS, NV JULY 22, 2021 – Cannabis Conference, produced by parent company GIE Media Inc. and industry-leading Cannabis Business Times, Cannabis Dispensary, and Hemp Grower magazines, announces today Sherbinskis’ Founder and Chief Creative Officer Mario Guzman as the keynote speaker on Day 1 of its annual event, to take place Aug. 24-26, 2021, at Paris Las Vegas Hotel & Casino.

In a Fireside Chat led by Cannabis Conference Digital Editor Eric Sandy, Guzman will share his dynamic cannabis story—from his humble beginnings as an entrepreneur working from his garage to becoming a world-famous tastemaker and curator of high-quality genetics. He will discuss lessons learned along the way, from scaling his business in California to finding multi-state and retail partners, as well as recognizing the importance of diversity and inclusion in his business model. Guzman will also share emerging trends in cannabis genetics, medical research, ‘seed-to-scale’ cultivation and much more.   

The keynote will take place on Tuesday, Aug. 24 from 2:10 p.m. – 3:10 p.m. PT.

Guzman has been a key player in the medical cannabis movement for more than 20 years, breeding and cultivating internationally renowned genetics like Pink Panties, Sunset Sherbert and the Gelato line. Guzman, who recently joined the Board of Directors for the Minority Cannabis Business Association, says his desire to serve stems from his motivation to ensure that the next generation of minority cannabis business professionals have the assistance and guidance from other minorities that he wasn’t fortunate enough to have.

“It’s exciting to participate in an event that’s curated for us—people in plant-touching operations. As cultivators and retailers of cannabis, we uniquely understand the labor of love it is to grow this plant, and how important it is to work through industry challenges with the utmost integrity and the consumer top of mind,” Guzman said. “I’m looking forward to sharing stories from my own journey these past two decades, as well as connecting with others pushing the industry forward and becoming vehicles for change for communities of color.” 

“Mario has the respect of his peers in the industry and has achieved such strong brand recognition—something every plant-touching cannabis business strives for. We are thrilled to have him as such a big part of the Cannabis Conference,” said Cannabis Conference Editorial Director Noelle Skodzinski. “He is a trailblazer who has not only persisted but thrived over two turbulent decades in the cannabis industry, and long-time cannabis businesses as well as newcomers to the industry have much to learn from his experiences and successes.”

More information about Cannabis Conference, including sessions, speakers, exhibitors and FAQs, can be found at www.CannabisConference.com. Rates will increase July 31, 2021. Click hereto review pricing and to register.

 

About Cannabis Conference

Cannabis Conference 2021, presented by the award-winning Cannabis Business Times, Cannabis Dispensary, and Hemp Grower media brands, is the leading educational provider for plant-touching businesses in the legal cannabis and hemp markets. The three-day event will take place at Paris Las Vegas Hotel & Casino in Las Vegas, Nev., on Aug. 24-26, 2021. The Cannabis Conference exhibition hall will feature 170+ industry-leading technologies, solutions and services for the professional cannabis cultivator and retail businesses. For more information, visit www.CannabisConference.com.

About GIE Media

GIE Media was founded in 1980 and has grown over 41 years into a leading marketing and communications business-to-business media company serving 17 industries—including the horticulture industry through its Horticulture Group (Greenhouse Management, Produce Grower, Nursery Management, Garden Center, Cannabis Business Times, Cannabis Dispensary and Hemp Grower). The company employs nearly 100 editors, publishers, sales representatives, marketers and other professionals. For more information, visit www.GIEMedia.com. 

 

Allied Corp. Commends Colombian Authorities for Approving the Export of Dried Cannabis Flower From Colombia

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  • Colombian legislative update now allows for the sale and export of raw cannabis materials, namely dried flower, to international markets
  • New regulations position Colombia’s cultivators as leaders to supply the global cannabis market; dried cannabis flower continues to account for an estimated 50% of demand in major international markets, including U.S., Germany and Australia
  • New regulations allow for the manufacturing, sale and export of ingestible cannabinoid products in Colombia, increasing near-term revenue potential for Flora’s Kasa Wholefoods division
  • Flora capitalizes on law change, signing a supply agreement with an international distributor based in South Africa to provide raw and finished medical cannabis products
  • Update allows for the promotion and advertising of cannabis brands and products in Colombia, increasing access to the growing Colombian cannabis market

TORONTO, July 26, 2021 – PRESS RELEASE – Flora Growth Corp., a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, is pleased to announce that following an extensive consultation process, Colombia President Ivan Duque Marquez has accepted and signed into effect the revisions related to the existing Colombian cannabis laws. The reformed legislation is aimed at improving access to cannabis products for Colombians and positions Colombia as the leader to supply the global cannabis market.

Colombian Cannabis Cultivation

Located near the equator, select regions of Colombia have the ideal climate for the cultivation of cannabis 365 days a year. The country also boasts one of the world’s largest cut-flower industries, resulting in a labor force with substantial agricultural experience that can produce a high-quality cannabis product at low-cost. This combination of geographic factors and legislative updates positions Colombia as a major player in the international cannabis market due to its low-cost structure.

Flora’s Colombian cultivation facility, Cosechemos, has maximized this cultivation potential by achieving a production cost below $0.06 per gram (or roughly $27 per pound) of dried flower. This represents a 60% lower production cost than its closest competitor. With more than 12.5 hours of natural sunlight, natural water springs onsite and 247-plus acres of licensed all-outdoor organic cultivation, Flora Growth is well-positioned to benefit from this legislative update across a number of verticals.

Legislative Update Signifies Increased Revenue Potential

The new regulations are expected to allow Flora to increase near-term and long-term revenue, optimize its global supply chain of premium brands and products, and maximize economics both domestically and abroad. The following points highlight the impact of this legislative change:

  1. Currently in the global cannabis market, dried flower accounts for more than 50% of the sales demand. Through this legislative update, Colombian cultivators like Flora, have gained access to this massive segment of the global market that was previously inaccessible. With a production cost that is substantially lower than its North American peers, Flora is able to market a high-quality product at below North American prices.
  2. By allowing the manufacturing, sale and export of cannabinoid ingestible products, near-term revenue opportunities are created. Flora’s food and beverage division, Kasa Wholefoods, anticipates amplified revenue growth and intends on leveraging existing relationships to distribute CBD versions of its portfolio, including the recently announced U.S.$10M distribution agreement with Tropi, Colombia’s largest food and beverage distributor with 130,000 points of distribution across the country.
  3. By removing marketing restrictions on cannabis products locally, Flora is expected to be able to drive increased awareness across its portfolio of products and additional sales through its 1,500-plus points of distribution within Colombia.
  4. By permitting the sale of cannabinoid medical products through drugstores as “custom formulas,” access to cannabis products is substantially increased within the domestic Colombian market. Custom formulas are pharmaceutical products prescribed and prepared by pharmacists to meet the unique needs of a patient and are intended to complement medical prescriptions. This change favors Flora Lab, which holds licenses to produce custom formulas and has existing relationships with drugstore chains throughout Colombia.

“We would like to thank the Colombian government and all of the parties involved with passing this legislation. As we quickly move to ramp up production at Cosechemos, we believe that Colombia will become a global player in the regulated cannabis market. We believe this will result in an increased positive economic impact to our community, while also benefiting Flora and its shareholders,” Flora President and CEO Luis Merchan said. “We’re also very pleased to now be able to bring new and existing wellness products to market. We have a loyal and passionate following and are very eager to meet the demand that we’ve been receiving but haven’t been able to deliver on previously because of the regulations.”

Flora Targets International Cannabis Markets

As an immediate impact of this law change, Flora has signed a letter of intent with an international distributor to supply its dried flower and derivatives. The company expects to ship its premium cannabis products upon completion of its first commercial harvest and obtaining necessary import licenses.

The cannabis products will be distributed by Kiricann, with operations in South Africa and distribution agreements in Germany and the European Union. Kiricann imports and distributes medical cannabidiol (CBD) while working with patients and wellness practitioners to educate about the authorization and use of medical cannabis and the benefits of CBD.

Flora anticipates signing additional supply agreements in the coming months as the global cannabis market begins to appreciate the low-cost, high-quality product that is cultivated within Colombia. This includes assessing the opportunity to ship its low-cost cannabis flower to pending acquisition Koch & Gsell, for use in its market-leading cannabis pre-roll brand (Heimat), which generated more than U.S.$7.6M in trailing 12-month revenue.

“This legislative update immediately accelerates Flora’s ability to generate revenue through the sale of our cannabis flower to international markets, as noted by our first international supply agreement. Having the ability to export our high-margin, high-quality cannabis flower—in addition to selling cannabinoid ingestible products—will meaningfully impact our growth and revenue generation,” Flora Chief Revenue Officer Jason Warnock said. “We are very excited to leverage our existing product portfolio and distribution channels to quickly deliver these new products to Colombians and our international partners.”

Arkansas Group Gathers Signatures to Place Adult-Use Cannabis Legalization on 2022 Ballot

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  • Colombian legislative update now allows for the sale and export of raw cannabis materials, namely dried flower, to international markets
  • New regulations position Colombia’s cultivators as leaders to supply the global cannabis market; dried cannabis flower continues to account for an estimated 50% of demand in major international markets, including U.S., Germany and Australia
  • New regulations allow for the manufacturing, sale and export of ingestible cannabinoid products in Colombia, increasing near-term revenue potential for Flora’s Kasa Wholefoods division
  • Flora capitalizes on law change, signing a supply agreement with an international distributor based in South Africa to provide raw and finished medical cannabis products
  • Update allows for the promotion and advertising of cannabis brands and products in Colombia, increasing access to the growing Colombian cannabis market

TORONTO, July 26, 2021 – PRESS RELEASE – Flora Growth Corp., a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, is pleased to announce that following an extensive consultation process, Colombia President Ivan Duque Marquez has accepted and signed into effect the revisions related to the existing Colombian cannabis laws. The reformed legislation is aimed at improving access to cannabis products for Colombians and positions Colombia as the leader to supply the global cannabis market.

Colombian Cannabis Cultivation

Located near the equator, select regions of Colombia have the ideal climate for the cultivation of cannabis 365 days a year. The country also boasts one of the world’s largest cut-flower industries, resulting in a labor force with substantial agricultural experience that can produce a high-quality cannabis product at low-cost. This combination of geographic factors and legislative updates positions Colombia as a major player in the international cannabis market due to its low-cost structure.

Flora’s Colombian cultivation facility, Cosechemos, has maximized this cultivation potential by achieving a production cost below $0.06 per gram (or roughly $27 per pound) of dried flower. This represents a 60% lower production cost than its closest competitor. With more than 12.5 hours of natural sunlight, natural water springs onsite and 247-plus acres of licensed all-outdoor organic cultivation, Flora Growth is well-positioned to benefit from this legislative update across a number of verticals.

Legislative Update Signifies Increased Revenue Potential

The new regulations are expected to allow Flora to increase near-term and long-term revenue, optimize its global supply chain of premium brands and products, and maximize economics both domestically and abroad. The following points highlight the impact of this legislative change:

  1. Currently in the global cannabis market, dried flower accounts for more than 50% of the sales demand. Through this legislative update, Colombian cultivators like Flora, have gained access to this massive segment of the global market that was previously inaccessible. With a production cost that is substantially lower than its North American peers, Flora is able to market a high-quality product at below North American prices.
  2. By allowing the manufacturing, sale and export of cannabinoid ingestible products, near-term revenue opportunities are created. Flora’s food and beverage division, Kasa Wholefoods, anticipates amplified revenue growth and intends on leveraging existing relationships to distribute CBD versions of its portfolio, including the recently announced U.S.$10M distribution agreement with Tropi, Colombia’s largest food and beverage distributor with 130,000 points of distribution across the country.
  3. By removing marketing restrictions on cannabis products locally, Flora is expected to be able to drive increased awareness across its portfolio of products and additional sales through its 1,500-plus points of distribution within Colombia.
  4. By permitting the sale of cannabinoid medical products through drugstores as “custom formulas,” access to cannabis products is substantially increased within the domestic Colombian market. Custom formulas are pharmaceutical products prescribed and prepared by pharmacists to meet the unique needs of a patient and are intended to complement medical prescriptions. This change favors Flora Lab, which holds licenses to produce custom formulas and has existing relationships with drugstore chains throughout Colombia.

“We would like to thank the Colombian government and all of the parties involved with passing this legislation. As we quickly move to ramp up production at Cosechemos, we believe that Colombia will become a global player in the regulated cannabis market. We believe this will result in an increased positive economic impact to our community, while also benefiting Flora and its shareholders,” Flora President and CEO Luis Merchan said. “We’re also very pleased to now be able to bring new and existing wellness products to market. We have a loyal and passionate following and are very eager to meet the demand that we’ve been receiving but haven’t been able to deliver on previously because of the regulations.”

Flora Targets International Cannabis Markets

As an immediate impact of this law change, Flora has signed a letter of intent with an international distributor to supply its dried flower and derivatives. The company expects to ship its premium cannabis products upon completion of its first commercial harvest and obtaining necessary import licenses.

The cannabis products will be distributed by Kiricann, with operations in South Africa and distribution agreements in Germany and the European Union. Kiricann imports and distributes medical cannabidiol (CBD) while working with patients and wellness practitioners to educate about the authorization and use of medical cannabis and the benefits of CBD.

Flora anticipates signing additional supply agreements in the coming months as the global cannabis market begins to appreciate the low-cost, high-quality product that is cultivated within Colombia. This includes assessing the opportunity to ship its low-cost cannabis flower to pending acquisition Koch & Gsell, for use in its market-leading cannabis pre-roll brand (Heimat), which generated more than U.S.$7.6M in trailing 12-month revenue.

“This legislative update immediately accelerates Flora’s ability to generate revenue through the sale of our cannabis flower to international markets, as noted by our first international supply agreement. Having the ability to export our high-margin, high-quality cannabis flower—in addition to selling cannabinoid ingestible products—will meaningfully impact our growth and revenue generation,” Flora Chief Revenue Officer Jason Warnock said. “We are very excited to leverage our existing product portfolio and distribution channels to quickly deliver these new products to Colombians and our international partners.”

North Carolina Medical Cannabis Bill Clears Second Senate Committee

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  • Colombian legislative update now allows for the sale and export of raw cannabis materials, namely dried flower, to international markets
  • New regulations position Colombia’s cultivators as leaders to supply the global cannabis market; dried cannabis flower continues to account for an estimated 50% of demand in major international markets, including U.S., Germany and Australia
  • New regulations allow for the manufacturing, sale and export of ingestible cannabinoid products in Colombia, increasing near-term revenue potential for Flora’s Kasa Wholefoods division
  • Flora capitalizes on law change, signing a supply agreement with an international distributor based in South Africa to provide raw and finished medical cannabis products
  • Update allows for the promotion and advertising of cannabis brands and products in Colombia, increasing access to the growing Colombian cannabis market

TORONTO, July 26, 2021 – PRESS RELEASE – Flora Growth Corp., a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, is pleased to announce that following an extensive consultation process, Colombia President Ivan Duque Marquez has accepted and signed into effect the revisions related to the existing Colombian cannabis laws. The reformed legislation is aimed at improving access to cannabis products for Colombians and positions Colombia as the leader to supply the global cannabis market.

Colombian Cannabis Cultivation

Located near the equator, select regions of Colombia have the ideal climate for the cultivation of cannabis 365 days a year. The country also boasts one of the world’s largest cut-flower industries, resulting in a labor force with substantial agricultural experience that can produce a high-quality cannabis product at low-cost. This combination of geographic factors and legislative updates positions Colombia as a major player in the international cannabis market due to its low-cost structure.

Flora’s Colombian cultivation facility, Cosechemos, has maximized this cultivation potential by achieving a production cost below $0.06 per gram (or roughly $27 per pound) of dried flower. This represents a 60% lower production cost than its closest competitor. With more than 12.5 hours of natural sunlight, natural water springs onsite and 247-plus acres of licensed all-outdoor organic cultivation, Flora Growth is well-positioned to benefit from this legislative update across a number of verticals.

Legislative Update Signifies Increased Revenue Potential

The new regulations are expected to allow Flora to increase near-term and long-term revenue, optimize its global supply chain of premium brands and products, and maximize economics both domestically and abroad. The following points highlight the impact of this legislative change:

  1. Currently in the global cannabis market, dried flower accounts for more than 50% of the sales demand. Through this legislative update, Colombian cultivators like Flora, have gained access to this massive segment of the global market that was previously inaccessible. With a production cost that is substantially lower than its North American peers, Flora is able to market a high-quality product at below North American prices.
  2. By allowing the manufacturing, sale and export of cannabinoid ingestible products, near-term revenue opportunities are created. Flora’s food and beverage division, Kasa Wholefoods, anticipates amplified revenue growth and intends on leveraging existing relationships to distribute CBD versions of its portfolio, including the recently announced U.S.$10M distribution agreement with Tropi, Colombia’s largest food and beverage distributor with 130,000 points of distribution across the country.
  3. By removing marketing restrictions on cannabis products locally, Flora is expected to be able to drive increased awareness across its portfolio of products and additional sales through its 1,500-plus points of distribution within Colombia.
  4. By permitting the sale of cannabinoid medical products through drugstores as “custom formulas,” access to cannabis products is substantially increased within the domestic Colombian market. Custom formulas are pharmaceutical products prescribed and prepared by pharmacists to meet the unique needs of a patient and are intended to complement medical prescriptions. This change favors Flora Lab, which holds licenses to produce custom formulas and has existing relationships with drugstore chains throughout Colombia.

“We would like to thank the Colombian government and all of the parties involved with passing this legislation. As we quickly move to ramp up production at Cosechemos, we believe that Colombia will become a global player in the regulated cannabis market. We believe this will result in an increased positive economic impact to our community, while also benefiting Flora and its shareholders,” Flora President and CEO Luis Merchan said. “We’re also very pleased to now be able to bring new and existing wellness products to market. We have a loyal and passionate following and are very eager to meet the demand that we’ve been receiving but haven’t been able to deliver on previously because of the regulations.”

Flora Targets International Cannabis Markets

As an immediate impact of this law change, Flora has signed a letter of intent with an international distributor to supply its dried flower and derivatives. The company expects to ship its premium cannabis products upon completion of its first commercial harvest and obtaining necessary import licenses.

The cannabis products will be distributed by Kiricann, with operations in South Africa and distribution agreements in Germany and the European Union. Kiricann imports and distributes medical cannabidiol (CBD) while working with patients and wellness practitioners to educate about the authorization and use of medical cannabis and the benefits of CBD.

Flora anticipates signing additional supply agreements in the coming months as the global cannabis market begins to appreciate the low-cost, high-quality product that is cultivated within Colombia. This includes assessing the opportunity to ship its low-cost cannabis flower to pending acquisition Koch & Gsell, for use in its market-leading cannabis pre-roll brand (Heimat), which generated more than U.S.$7.6M in trailing 12-month revenue.

“This legislative update immediately accelerates Flora’s ability to generate revenue through the sale of our cannabis flower to international markets, as noted by our first international supply agreement. Having the ability to export our high-margin, high-quality cannabis flower—in addition to selling cannabinoid ingestible products—will meaningfully impact our growth and revenue generation,” Flora Chief Revenue Officer Jason Warnock said. “We are very excited to leverage our existing product portfolio and distribution channels to quickly deliver these new products to Colombians and our international partners.”

Aurora Cannabis Announces Appointment of New Independent Director

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July 1, 2021, marked four years since Nevada launched its first adult-use cannabis sales, and the market has certainly seen its fair share of rapid growth and regulatory changes during that time, not to mention the unprecedented COVID-19 pandemic.

From July 2017 to June 2018, the state saw $529,851,245 in taxable medical and adult-use cannabis sales, a figure that has steadily increased to $719,216,651 during the current fiscal year, which includes sales data from July 2020 to March 2021, according to the Nevada Department of Taxation.

Flexibility is the name of the game for cannabis operators looking to cash in on this rapidly growing market, according to Layke Martin, executive director of the Nevada Dispensary Association (NDA).

“I think this industry is ever-changing, and our owners know that and are prepared for that,” Martin told Cannabis Business Times and Cannabis Dispensary. “They’re flexible and ready to pivot.”

RELATED: A Snapshot of Nevada’s Cannabis Retail Market: Q&A with the Nevada Dispensary Association

The NDA launched roughly five years ago as an advocacy and trade association for the retail segment of the market but has recently expanded to include cannabis cultivators and distributors.

Nevada currently has 86 operational dispensaries, and the industry employs approximately 10,000 people, Martin said.

Reflecting on Lessons Learned

The Source pivoted to the adult-use market quickly, launching its first recreational sales at its Sahara location on July 1, 2017. The company’s Henderson store began serving the adult-use marketplace much later, in October 2017, due to delays in the rollout of local regulations, according to Brandon Wiegand, The Source’s chief commercial officer.

“We saw an immediate impact,” Wiegand said. “Going from medical to recreational, it was about a five-times increase in business. Then, it’s ebbed and flowed.”

When the first adult-use sales launched in 2017, The Source had roughly 50 employees, a number that has since grown to more than 260. The company also won three new retail licenses when the state opened up another licensing round in 2018, and has opened three new stores in Las Vegas, North Las Vegas and Reno.

In the past four years, The Source has adjusted its operations to accommodate the sharp increase in customers, and part of these adjustments include more robust consumer education.

“With recreational, there’s a much bigger knowledge gap,” Wiegand said. “Customers are coming in that either haven’t consumed cannabis in many, many years or may have never consumed cannabis, and so we focus on education, knowledge, [and] creating an environment that helps awareness and understanding of the product, the different methods of consumption [and] the effects of that consumption. … Our big focus as a team is, how do we dispel the myths and stereotypes around the product, and how do we help people find the experience they’re looking for?”

Wiegand said The Source has a “pretty liberal sample policy,” where dispensary employees are encouraged to try the products to help inform their discussions with customers.

“We encourage them to try and experience the product themselves so that they can talk about it from a first-person point of view,” he said.

The COVID-19 pandemic sparked a new set of challenges for the business, Wiegand said, and The Source had to quickly navigate the e-commerce space to offer curbside pickup and delivery services.

“E-commerce has probably been one of the most significant changes in the business over the last four years—getting our product online [and] developing a platform and experience and a way for our customers to shop,” he said. “That’s an area that we’ve continued to focus on and retool. I think we’re still working today on how to make that process cleaner, leaner [and] more efficient. We’ve seen a huge shift in customers going after e-commerce. Coming out of COVID, there are a lot of people who have changed the way they shop. They’re looking for convenience.”

Clearing Regulatory Hurdles

There are some onerous regulations that burden all cannabis operators, such as limited access to banking services and tax code 280E, and then there are state-specific regulatory hurdles that businesses face in each legal market. In Nevada, the most significant regulatory hurdle when adult-use sales launched in 2017 might have been language in the law that required businesses to have distribution licenses in order to deliver product.

“That had not been figured out when we launched recreational sales, and our biggest challenge going into rec sales was storing product,” Wiegand said. “We didn’t know when we were going to be able to get deliveries for recreational product. The state and the regulatory agency—at the time it was the Department of Taxation—had allowed us to one time turn our inventory. So, whatever we had July 1 at 12:01 a.m., we were allowed to use that as recreational inventory. So, all of us, all of the dispensaries in the state, stockpiled, not knowing when we were going to be able to get deliveries.”

Another significant regulatory change was creation of the Cannabis Compliance Board (CCB) to oversee the industry, which had previously been regulated by the Nevada Department of Taxation.

The CCB, modeled after the state’s Gaming Control Board, launched in July 2020, and Martin said she and many of the NDA’s members are happy with how the board has operated over the past year.

“They’ve been great to work with, and it’s excellent having a dedicated regulatory body for the industry,” she said. “It makes it easier to comply. … They’re transparent. … When they were working on regulations, for instance, they [sought] industry guidance so stakeholders were able to provide guidance on what the regulations should look like.”

The CCB recently created a Cannabis Advisory Commission, Martin added, which is made up of industry stakeholders, legislators and government agencies who will ultimately make recommendations to the full board.

“There’s a subcommittee on social equity, one on public health, one on public safety, and one on the cannabis industry and market stability,” Martin said. “Each of those subcommittees will research, analyze and make recommendations to the board. … They just met for the first time this week, so we’re really excited to see where that goes.”

Planning for the Future

During the 2021 legislative session, the Nevada Legislature passed a bill to create a new consumption lounge license, the first new license type since adult-use was legalized. The CCB is currently going through the rulemaking process to draft regulations for these new businesses, and Martin anticipates seeing the first operational lounges in the early part of 2022.

Existing dispensaries can each apply for a license to open one lounge, which must be attached or adjacent to their existing facilities.

“Some of our [dispensary members] … are located near the tourist corridor, [and they] are very excited about the opportunity to have lounges to give tourists, for example, a place to try cannabis products legally,” Martin said.

The Source will pursue a license to create a consumption lounge, Wiegand said, adding, “There’s a whole world of experiences that can be created with the product, and I’m really excited to see what comes out of that and very proud of the fact that Nevada took a stand and will be part of something that will be the next evolution of the industry.”

The NDA will continue to evolve with the industry, Martin said, and the organization is already planning its priorities for the next legislative session, which will take place in 2023.

One of these priorities will likely be reforming state regulations on packaging and labeling, Martin said.

“A lot of our regulations and statutes related to packaging and labeling have evolved, and it’s become … somewhat duplicative, a little bit onerous, and we are taking cues from a couple of other states that have gone back and reformed their packaging and labeling regulations,” she said. “How can we streamline … our packaging and labeling requirements to be more consumer-friendly [and] provide the information, but perhaps in a different way?”

The Source’s upcoming goals focus on running a more efficient dispensary, Wiegand said.

“One area we’ve focused on pretty heavily over the past few years is understanding the customer—understanding buying behavior, understanding product and proper merchandise planning and allocation,” he said. “How do we get the right products in the right volumes at the right times, so we’re not overstocked in some SKUs and understocked in others? How do we make sure that the product our customer is looking for is kept in stock?”

Customer preferences are starting to evolve, he added, and consumers are starting to purchase products based on terpenes rather than potency.

“We spent a lot of time and a lot of effort educating customers about the entourage effect and terpenes and really understanding that there’s a lot more to the experience of the product beyond just the THC percentage,” Wiegand said. “In conversations with customers, there’s definitely a different level of knowledge and customers are seeking out terpenes they know and like and that bring them the benefits and the effects that they’re looking for.”

The Source has continued to scale to meet consumer demand and has converted to vertical cultivation to double its square footage without expanding the size of the building. 

“Then, on top of that, we’ve bought a new distribution center, where we’re going to co-locate our production facility,” Wiegand said, adding that this will support The Source’s dispensaries as well as other retailers that buy The Source’s product wholesale.

“We scale up the business, we plateau and stabilize, and then we develop new products, … we see the demand go up, and we have to retool the business again,” Wiegand said. “I joke about the fact that it has been a sprint from day one, even going back to medical. I don’t know that we’ve had a year of stability. It’s always been something changing, something new, and that’s part of what I love about the business—it’s dynamic and exciting.”

Meir Hospital subjects cannabis to medical standards for review

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Medical cannabis research is growing, but it is still nowhere near as big and deep enough as it should be by the standards of the medical world for ruthless investigation. But due to years of anecdotal evidence for cannabis, the plant has bypassed many of the trials a potential cure would normally have to go through en route to a legitimate drug.

With this in mind, Meir Hospital embarked on an endeavor that would benefit both the cannabis and medical worlds – medical studies conducted with a conservative approach.

Retrospective study of inflammatory bowel disease

Meir Hospital started inflammatory bowel disease with a retrospective observational study in which they “collected data on disease activity before and after cannabis use”.

Cannabis after this first test, however, the lack of a control group, and the variability in cannabis use took some of the shine away from the results.

Meir Hospital conducted “several double-blind, placebo-controlled studies of cannabis in inflammatory bowel disease”.

The first concerned Crohn’s disease, unprecedented in the fact that it was the first double-blind, placebo-controlled study to look at how cannabis affects this condition by using uniform cannabis in all patients, prospectively.

After weeks of weight, the patients who received real cannabis had “a significantly lower disease activity index, but no change in markers of inflammation was observed”. However, the study was not without its limitations, namely its short duration, the small size of the group, and the fact that endoscopic disease activity was not measured.

In another study that focused on CBD alone as a cure for Crohn’s disease, the researchers found no difference between the condition of the control group and the participants who received the real active ingredient.

However, due to the low dosage of CBD that was administered – 20 mg per day, the oral method of ingestion and the good safety profile of CBD, and the promising anti-inflammatory results in previous experimental models, scientists gave CBD the benefit of the doubt. You are currently conducting another double-blind, placebo-controlled study of CBD in steroid-dependent patients with Crohn’s disease.

The researchers also tried to study CBD as a “steroid-sparing therapy” in patients with chronic spontaneous urticaria (CSU).

“The study is ongoing and the data has not yet been pooled. Investigators’ impression, however, is that CBD has had a significant beneficial effect on a sizable cohort of patients. This is supported by the positive feedback from patients. “

The Meir Hospital researchers conclude that cannabis does indeed show promise as a viable drug. However, they also point out the inherent obstacles cannabis poses to research – its psychoactivity, which makes creating a compelling placebo difficult and can also have side effects; its federal illegal status; the variety of chemovars that account for many variables; and the inconsistent nature of extracts that “can never achieve the reproducibility required for a drug”.

Agrify Announces Launch of Innovative, Project-Based Learning Program, Agrify University

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BILLERICA, Mass., July 19, 2021 – PRESS RELEASE – Agrify Corporation, a developer of highly advanced and proprietary precision hardware and software cultivation solutions for the indoor agricultural marketplace, announced the opening of Agrify University, a brand new 3,500-square-foot, state-of-the-art indoor vertical farming facility featuring Agrify’s latest technology and advanced cultivation methods. We believe this new immersive, hands-on project-based learning experience will empower Agrify customers and next-generation growers with the knowledge and education to successfully cultivate cannabis with efficiency at scale by leveraging the power of Agrify’s vertical farming units (VFUs) and the Agrify Insights software solution.

Located in Billerica, Mass., Agrify University, led by David Kessler, Agrify’s Chief Science Officer, and a team of industry experts, horticulturists and scientists, will provide participants with in-classroom, on-site and on-demand learning options. The immersive, multisensory curriculum will enable customers and growers to expand their knowledge of how to apply novel scientific research, interpret cultivation data and leverage Agrify’s technology to improve their indoor cannabis cultivation practices.

“The cultivation methods used by many operators have not evolved as quickly as the industry itself, and we see an opportunity to use the power of data and cutting-edge techniques to dramatically improve the quality and yields from indoor cultivation,” Kessler said. “Agrify University utilizes our vast cannabis research data sets and technological innovation to provide a curriculum that we believe will support the long-term growth of our industry. We’re proud to add this valuable resource to our comprehensive Agrify ecosystem, and we look forward to welcoming our first cohorts.”

Agrify University classes are available now to all customers. For more information on how to apply and on available program resources, please contact Agrify at info@agrify.com.

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Quality Systems 101: CAPA Programs Drive Improvement & Prevent Costly Mistakes

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No business is perfect, especially when humans are part of the equation. But, how do you tackle fixing quality issues as they arise? The goal of this article is to shed some light on the value of a CAPA program and why many states are making them mandatory for cannabis businesses.

Let’s consider the following situations:

  • Analytical lab results for a production batch test above the limit for a banned pesticide or microbial contamination
  • You open a case of tincture bottles and some are broken
  • A customer returns a vape pen because it is leaking or ‘just doesn’t work’

Do you…

  • Document the issue?
  • Perform some sort of an investigation, asking questions of the people involved?
  • Ask for a retest? Then, if the test comes back positive, move on?

Let’s go through each one of these and understand why the suboptimal answer could be costing your business money:

You don’t document the issue

I hear excuses for skipping on documentation all the time.

  • “It’s not a big deal”
  • “It was a one off”
  • “The glasses probably broke in transit”
  • “They are cheap and easily replaceable”
  • “It’s not worth the time”
Tracking and documenting supplier shipments can help you identify supply chain issues.

In the situation of a couple of broken bottles in a shipment, what if it was the seventh time in the last two months? If you haven’t been documenting and tracking the issue, you have no way of knowing if it was a single occurrence. Remember when you were surprised that your filling team did not have enough bottles? Those broken bottles add up. Without documenting the incident, you will never know if it was truly a one-time mistake or the sign of a deeper issue. The reality is, it could be sloppy handling on the production line, issues with the shipper or even a sign of poor quality coming from the supplier.

Have you ever compared the number of fills vs the number of bottles ordered? How much money have you already lost due to those broken bottles adding up? Do you have the ability to answer this question?

You perform an investigation

Let’s say a customer returns a leaky vape pen. You perform an investigation by asking the production workers what they think went wrong. They say that it’s very difficult to get the seal for the cartridge into place. Their supervisor tells them to try harder, refunds the customer and moves on. But, why is it difficult to get the seal into place? Is it a design flaw? Should a special tool be used to assemble the cartridge properly? Without getting to the root cause of why the seals are leading to leaking cartridges, you are doomed to have repeat issues. Numerous studies have found that less than one in twenty dissatisfied customers will complain, and that approximately one in ten will simply leave for another brand or provider. How much is this unresolved issue truly costing your business?

Asking for a retest and if it passes, releasing the product and moving on.

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In Colorado, 15% of the final tested cannabis flower products continue to fail.

Suppose a major producer of cereal received test results for its most popular cereal that were positive for levels of heavy metals that research has shown to be linked to cancer or developmental issues in children. Now, suppose the company stated that it was an isolated incident and a retest showed that the product met acceptable limits. Further investigation showed no paperwork, save for a couple of emails and a phone call between the lab and the producer. Would that give you peace of mind? This is known as “testing into compliance” and was the subject of a landmark lawsuit in 1993 that Barr Laboratories lost.

For many the answer would be a hard NO. But this happens every day. In Colorado, 12.5% of cannabis batches failed final product testing in 2018 and 2019. That’s one in eight batches! What happened to those products? Good question.

Enter: CAPA (Corrective Action and Preventive Action) programs! For people with a background in quality and GMPs (Good Manufacturing Practices), CAPA is a household name. And, it’s quickly becoming a requirement that cannabis regulatory bodies are looking at. Colorado was the first state to explicitly require CAPA programs for all license holders effective January of this year and has provided a free resource for them. But, for the large majority of people, including those in the cannabis industry, it’s just another acronym.

What does a CAPA program do?

The benefits are numerous but two major ones are:

An effective tool for investigating the true root cause

First of all, a CAPA program provides the framework for a tool for investigation – as Murphy’s Law posits – things go wrong all of the time. Whether you have a manual, labor-intensive process or a highly automated operation, the equipment is programmed, maintained and monitored by humans. The logical sequence of problem solving within a CAPA program allows you to thoroughly investigate and determine the root cause of the issue. With a complete understanding of root cause, you are then able to eliminate it and prevent future occurrences – not just in the one area investigated, but in all similar situations throughout the company.

System for continuous improvement

Gathering info from a customer complaint like batch or product IDs can be crucial in a CAPA system

Anyone who is in the market for a new car lately can appreciate the technological advances. In the 1980s, it was air bags and ABS brakes (those of you that drive in snowy climates and remember having to pump your brakes can appreciate technological advancements). Bluetooth technology for hands-free communication and radio control is another example of continuous improvement in cars.

This is one of the biggest predictors and differentiators between profitable and successful companies with satisfied clients and one that is barely scraping by. The cost of poor quality adds up!

Key inputs in a CAPA system 

If the output is an improved system and lower cost of quality, we need to make sure we’re considering the potential inputs. 

Information that feeds into your CAPA system:

Customer complaints

Every complaint must be recorded. Gather as much information as possible, but at a minimum: the product type/SKU, the customer name and date of purchase. If possible, the batch or product ID.

This is not necessarily to identify products for a recall, but to prevent…

Laboratory test results

This should not be restricted to final product testing, but include any in-process inspections. Say you have a product repeatedly failing final testing, what if it’s actually been consistently failing or very close to failing at the very first in-process inspection? It’s also important to work with your laboratory to understand their method validation process, including the accuracy, precision, robustness, etc.

Infrastructure & environmental controls/monitoring

Most people consider “environmental controls” to be things like temperature and humidity control. While that is true, it can also include pest and contamination control. Poorly designed infrastructure layouts are major contributors to product cross contamination as well.

Supplier information

Undetected supply chain issues (remember the broken bottles?) can add up fast! CAPAs for suppliers cannot just include supplier monitoring, but improvement in how you communicate your needs to your suppliers. It’s easy to overlook non-cannabis raw materials as sources of microbiological and chemical contamination. Conduct a risk assessment based on the type of contact with your product and the types of contamination possible and adjust your supplier qualification program accordingly.

Are you ready to recognize the benefits of a CAPA program?

One more major benefit of CAPA programs to mention before we go is … Preventive via predictive analytics.

In Colorado, 15% of the final tested cannabis flower products continue to fail, mostly due to mold and mildew. A quality system, with effective data capture that is funneled into a CAPA program can easily reduce this by 75%. For even a small business doing $2M per year in revenue, that equates to a revenue increase of nearly $200,000 with no additional expenses.

Whether you are operating in the State of Colorado or elsewhere, a CAPA and Recall program will provide immense value. In the best case, it will uncover systemic issues; worst case, it forces you to fix mild errors. What are you waiting for?

Sherbinskis’ Mario Guzman Announced as Day 1 Keynote at Cannabis Conference 2021

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July 1, 2021, marked four years since Nevada launched its first adult-use cannabis sales, and the market has certainly seen its fair share of rapid growth and regulatory changes during that time, not to mention the unprecedented COVID-19 pandemic.

From July 2017 to June 2018, the state saw $529,851,245 in taxable medical and adult-use cannabis sales, a figure that has steadily increased to $719,216,651 during the current fiscal year, which includes sales data from July 2020 to March 2021, according to the Nevada Department of Taxation.

Flexibility is the name of the game for cannabis operators looking to cash in on this rapidly growing market, according to Layke Martin, executive director of the Nevada Dispensary Association (NDA).

“I think this industry is ever-changing, and our owners know that and are prepared for that,” Martin told Cannabis Business Times and Cannabis Dispensary. “They’re flexible and ready to pivot.”

RELATED: A Snapshot of Nevada’s Cannabis Retail Market: Q&A with the Nevada Dispensary Association

The NDA launched roughly five years ago as an advocacy and trade association for the retail segment of the market but has recently expanded to include cannabis cultivators and distributors.

Nevada currently has 86 operational dispensaries, and the industry employs approximately 10,000 people, Martin said.

Reflecting on Lessons Learned

The Source pivoted to the adult-use market quickly, launching its first recreational sales at its Sahara location on July 1, 2017. The company’s Henderson store began serving the adult-use marketplace much later, in October 2017, due to delays in the rollout of local regulations, according to Brandon Wiegand, The Source’s chief commercial officer.

“We saw an immediate impact,” Wiegand said. “Going from medical to recreational, it was about a five-times increase in business. Then, it’s ebbed and flowed.”

When the first adult-use sales launched in 2017, The Source had roughly 50 employees, a number that has since grown to more than 260. The company also won three new retail licenses when the state opened up another licensing round in 2018, and has opened three new stores in Las Vegas, North Las Vegas and Reno.

In the past four years, The Source has adjusted its operations to accommodate the sharp increase in customers, and part of these adjustments include more robust consumer education.

“With recreational, there’s a much bigger knowledge gap,” Wiegand said. “Customers are coming in that either haven’t consumed cannabis in many, many years or may have never consumed cannabis, and so we focus on education, knowledge, [and] creating an environment that helps awareness and understanding of the product, the different methods of consumption [and] the effects of that consumption. … Our big focus as a team is, how do we dispel the myths and stereotypes around the product, and how do we help people find the experience they’re looking for?”

Wiegand said The Source has a “pretty liberal sample policy,” where dispensary employees are encouraged to try the products to help inform their discussions with customers.

“We encourage them to try and experience the product themselves so that they can talk about it from a first-person point of view,” he said.

The COVID-19 pandemic sparked a new set of challenges for the business, Wiegand said, and The Source had to quickly navigate the e-commerce space to offer curbside pickup and delivery services.

“E-commerce has probably been one of the most significant changes in the business over the last four years—getting our product online [and] developing a platform and experience and a way for our customers to shop,” he said. “That’s an area that we’ve continued to focus on and retool. I think we’re still working today on how to make that process cleaner, leaner [and] more efficient. We’ve seen a huge shift in customers going after e-commerce. Coming out of COVID, there are a lot of people who have changed the way they shop. They’re looking for convenience.”

Clearing Regulatory Hurdles

There are some onerous regulations that burden all cannabis operators, such as limited access to banking services and tax code 280E, and then there are state-specific regulatory hurdles that businesses face in each legal market. In Nevada, the most significant regulatory hurdle when adult-use sales launched in 2017 might have been language in the law that required businesses to have distribution licenses in order to deliver product.

“That had not been figured out when we launched recreational sales, and our biggest challenge going into rec sales was storing product,” Wiegand said. “We didn’t know when we were going to be able to get deliveries for recreational product. The state and the regulatory agency—at the time it was the Department of Taxation—had allowed us to one time turn our inventory. So, whatever we had July 1 at 12:01 a.m., we were allowed to use that as recreational inventory. So, all of us, all of the dispensaries in the state, stockpiled, not knowing when we were going to be able to get deliveries.”

Another significant regulatory change was creation of the Cannabis Compliance Board (CCB) to oversee the industry, which had previously been regulated by the Nevada Department of Taxation.

The CCB, modeled after the state’s Gaming Control Board, launched in July 2020, and Martin said she and many of the NDA’s members are happy with how the board has operated over the past year.

“They’ve been great to work with, and it’s excellent having a dedicated regulatory body for the industry,” she said. “It makes it easier to comply. … They’re transparent. … When they were working on regulations, for instance, they [sought] industry guidance so stakeholders were able to provide guidance on what the regulations should look like.”

The CCB recently created a Cannabis Advisory Commission, Martin added, which is made up of industry stakeholders, legislators and government agencies who will ultimately make recommendations to the full board.

“There’s a subcommittee on social equity, one on public health, one on public safety, and one on the cannabis industry and market stability,” Martin said. “Each of those subcommittees will research, analyze and make recommendations to the board. … They just met for the first time this week, so we’re really excited to see where that goes.”

Planning for the Future

During the 2021 legislative session, the Nevada Legislature passed a bill to create a new consumption lounge license, the first new license type since adult-use was legalized. The CCB is currently going through the rulemaking process to draft regulations for these new businesses, and Martin anticipates seeing the first operational lounges in the early part of 2022.

Existing dispensaries can each apply for a license to open one lounge, which must be attached or adjacent to their existing facilities.

“Some of our [dispensary members] … are located near the tourist corridor, [and they] are very excited about the opportunity to have lounges to give tourists, for example, a place to try cannabis products legally,” Martin said.

The Source will pursue a license to create a consumption lounge, Wiegand said, adding, “There’s a whole world of experiences that can be created with the product, and I’m really excited to see what comes out of that and very proud of the fact that Nevada took a stand and will be part of something that will be the next evolution of the industry.”

The NDA will continue to evolve with the industry, Martin said, and the organization is already planning its priorities for the next legislative session, which will take place in 2023.

One of these priorities will likely be reforming state regulations on packaging and labeling, Martin said.

“A lot of our regulations and statutes related to packaging and labeling have evolved, and it’s become … somewhat duplicative, a little bit onerous, and we are taking cues from a couple of other states that have gone back and reformed their packaging and labeling regulations,” she said. “How can we streamline … our packaging and labeling requirements to be more consumer-friendly [and] provide the information, but perhaps in a different way?”

The Source’s upcoming goals focus on running a more efficient dispensary, Wiegand said.

“One area we’ve focused on pretty heavily over the past few years is understanding the customer—understanding buying behavior, understanding product and proper merchandise planning and allocation,” he said. “How do we get the right products in the right volumes at the right times, so we’re not overstocked in some SKUs and understocked in others? How do we make sure that the product our customer is looking for is kept in stock?”

Customer preferences are starting to evolve, he added, and consumers are starting to purchase products based on terpenes rather than potency.

“We spent a lot of time and a lot of effort educating customers about the entourage effect and terpenes and really understanding that there’s a lot more to the experience of the product beyond just the THC percentage,” Wiegand said. “In conversations with customers, there’s definitely a different level of knowledge and customers are seeking out terpenes they know and like and that bring them the benefits and the effects that they’re looking for.”

The Source has continued to scale to meet consumer demand and has converted to vertical cultivation to double its square footage without expanding the size of the building. 

“Then, on top of that, we’ve bought a new distribution center, where we’re going to co-locate our production facility,” Wiegand said, adding that this will support The Source’s dispensaries as well as other retailers that buy The Source’s product wholesale.

“We scale up the business, we plateau and stabilize, and then we develop new products, … we see the demand go up, and we have to retool the business again,” Wiegand said. “I joke about the fact that it has been a sprint from day one, even going back to medical. I don’t know that we’ve had a year of stability. It’s always been something changing, something new, and that’s part of what I love about the business—it’s dynamic and exciting.”

How to keep your cannabis business out of trouble

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Legal cannabis sales are skyrocketing, with U.S. revenues projected to exceed $ 28 billion in 2022, a whopping 60 percent increase from the numbers reported for 2020. But when an industry is on the rise, an influx of questionable people and companies inevitably follows, resulting in a steady stream of opportunists trying to make quick money off of hard-working – but inexperienced – business owners. Here are some things you can do to protect your business from scammers who come with all kinds of promises:

Avoid credit card workaround solutions

If someone offers you a workaround to accept credit cards, immediately decline it. No matter what anyone tells you, none of the major credit card companies allow cannabis transactions on their rails. Everyone understands that customers value the convenience of paying by credit, but working with a provider who is violating card company bylaws just so you can keep your clientele happy is not an avenue you want to take. Earlier this year, two Eaze Technologies consultants were caught trying to trick banks into processing more than $ 100 million in credit card payments. Then they were sent to prison. jail. And they’re far from the only ones of their kind. There are plenty of criminals out there, so be careful not to look the other way or “forget” to ask questions if something doesn’t seem right.

Read your dealer agreement

Dishonest guys bet you won’t read the fine print. So read it! For example, some of the same payment processors that offer sketchy credit card workarounds will have a note buried deep in their merchant contracts that their policy is to hold a percentage of your money for a period of time. They will say the main thing is to make sure you are good with your payments, but this waiting period can create problems when you have an unexpected expense and you cannot access your funds to cover it. And what if your processor is caught violating the law and goes out of business? When that happens, they are never will give you the money back. Case in point: Linx Card recently closed and many of its retailer customers with reserves were just unlucky with no recourse.

Some crooked processors that shut down reappear under a different name. This can also be a headache for you, as working with operators who keep disappearing or jumping back and forth between different processors disrupts your operations. And interruptions have a tangible cost. In our experience at Dama, retailers who don’t use electronic payment see an immediate 25 to 30 percent drop in sales. You don’t want this to happen to you.

Don’t hide from the banking system

When you open a bank account – or have someone open an account to the You, like many shady players in the industry are going to offer – but don’t state that you use cannabis, the bank will inevitably find out and close your account. No matter how hard you try to obscure the nature of your business, sooner or later something will sound the alarm, be it a check from a suspicious company or too many cash deposits. And if you open a new account after yours has been closed, which is most likely the case, that account will also be closed. This cycle will continue until you are eventually blackmailed, which affects not only your business but your personal banking situation as well – and this can have a serious impact on your life outside of work. It’s just not worth it, so don’t do it.

Stay legal = stay safe

Every cannabis company wants to make money, but it is important to conduct your business legally and transparently, no matter how tempting the alternatives may be. You worked hard to get where you are so don’t throw it all away by getting caught up with scammers who are only after themselves. When something looks too good to be true, it usually is. And when you deal with cheaters, eventually they will cheat on you too.

Eric Kaufmann
Main tax office
lady
www.damafinancial.com

Sources of supply:
Sale 2020
Forecasts for 2021
Eaze beliefs
Linx owes money to retailers