Business
MSOs' growth plan leaked
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November 8 2021,
TOGETHER WITH
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THE BIG IDEA
Hi everyone,
Today’s newsletter has our first link to a predictions for 2022 post. I’m sure it won’t be the last.
What are some of your predictions that go against the conventional wisdom? Send them to alex@weedweek.net and I’ll share a few favorites.
In today’s newsletter:
— MSOs not-so-secret growth plans leaked
— Could GOP bill end D.C. deadlock?
Plus lots more. Enjoy!
Alex
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TOGETHER WITH
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Politics
Could GOP cannabis plan break D.C. deadlock?
QUICK HITS
Business:
- MJBiz explains why Big Booze is bullish on the tiny infused-drinks market.
- Giant Canopy Growth blamed competition for its abysmal quarter. Canadian killjoy Rob McPherson predicted these results and expects the company to be “profitable in the Year Never.”
Green Market Report, MarketWatch - In Forbes, Lindsey Bartlett talked to DreamFields brand Jeeter, about how it became California’s, and America’s, best-selling pre-roll.
- A former executive sued beleaguered MSO iAnthus for racial discrimination. (iAnthus did not immediately respond to a request for comment.)
Law360 - Communications shop Grasslands shared 10 predictions for marketing and the industry in 2022.
- Business Insider looks at competition between MED psychedelics companies.
State news:
- In Illinois, former cannabis regulators are now cashing in.
Chicago Sun-Times - Federal law enforcement subpoenaed records from Missouri’s MED regulators.
Grown In - A federal grand jury subpoenaed records related to licensing in Baldwin Park and neighboring cities in Los Angeles County.
L.A. Times - Amanda Chicago Lewis asks why California’s illicit market continues to thrive.
Guardian - Alumna and Simply Pure entrepreneur Wanda James is running to be a regent of the University of Colorado.
Health and science:
- Scientists found massive doses of THC wouldn’t kill monkeys, but would kill rats.
- The New York Times discusses ketamine use to treat depression.
- The New Yorker delves into medicine’s wellness conundrum.
Equity:
- A report by the California Cannabis Industry Association found the state’s equity programs are falling short of expectations.
Fun and interesting:
- LAWeekly’s Jimi Devine listed his favorite strains and products of 2021. He also profiled Jungle Boys as an Apex Hype brand.
- There’s a new cannabis/anime/manga podcast called FADEDbrks.
COMPANY MILESTONES
- MSO Curaleaf agreed to buy Tryke Cos. , parent of Reef Dispensary, for $286M, boosting its presence in Nevada and Arizona.
MarketWatch - HERBL announced an exclusive distribution partnership with Cannadips, a tobacco-free THC dip pouch which is about to relaunch.
- Unrivaled Brands announced the launch of its new direct-to-consumer Bay Area distribution hub.
- Goodness Growth Holdings, parent of MSO Vireo, announced it is selling an Arizona dispensary license for $15M, but is remaining in the state as a wholesale biomass supplier.
- Oklahoma-based Nirvana Group announced a partnership with MSB (multi-state brand) Toast.
- Marketing tech firm Fyllo raised a $40M Series C, just seven months after raising $30M. CEO Chad Bronstein says he’s looking to go public. The company also announced several new hires: Robert Hucik as EVP engineering, Dawn Hartman as VP sales and regulatory databases, Rachel De La Montanya as regional VP of media for the west.
Business Insider, Benzinga
JOB NEWS
- Nevada state assemblyman and lawyer Steve Yeager was appointed to the state Cannabis Advisory Commission.
- Destiny Thompson joined MSO Verano as Chief People Officer.
- Pure Beauty named Esther Song as its first Chief Marketing Officer. She previously held the role at Canndescent.
- Texas Original Compassionate Cultivation hired Aaron Trahan as head of customer operations.
- John Brebeck joined Glass House Brands as VP investor relations.
- Angela Hill has been appointed deputy director of government affairs at the California Department of Cannabis Control.
PRODUCT NEWS
- California-brand Leune announced the release of its latest Gem Drop edibles.
- Five experts weigh in on why the future of edibles is fast-acting.
Forbes
ON SOCIAL
- Brett Puffenbarger asks about the first time you smoked weed.
- Influencer @LizzyJeff dropped her “Big Purr” Remix.
- @laganjaestranja floats on.
- Element Apothec CEO Davina Kaonohi shared her family’s cannabis history.
- Entrepreneur and equity activist Amber Senter called on Oakland to forgive loans to social equity businesses and provide them with more support.
- “A 200g+ live hash rosin snake!”
Sit down dinner edition
WEEDWEEK HIGH SOCIETY
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Here’s some of the menu from Cultivating Spirits‘ second annual cannabis pairing dinner at the Claremont Hotel in Berkeley, Calif.
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