Monday, August 31, 2020
Friday, August 28, 2020
Thursday, August 27, 2020
Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 461 (CSE: $TRUL.C) (OTC: $MJNA) (OTCQB: $WRHLF) (TSXV: $SUGR.V)
Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 461 (CSE: $TRUL.C) (OTC: $MJNA) (OTCQB: $WRHLF) (TSXV: $SUGR.V)
Delta, Kelowna, BC, August 27, 2020 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today’s podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:
https://www.investorideas.com/Audio/Podcasts/2020/082720-StocksToWatch.mp3
Read this in full at https://www.investorideas.com/news/2020/cannabis-potcasts/08271TRUL-MJNA-WRHLF-SUGR.asp
Hear Investor ideas cannabis potcast on iTunes
Hear the investor ideas potcast on Spotify
Today’s podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com "Potcast" featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.
In today’s podcast we look at a few private and public company announcements.
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States, announced that it will soon begin offering edible cannabis products to patients in Florida. Following finalized regulations from the Florida Department of Health for the sale of edible cannabis products and approval of its products, Trulieve will introduce edibles in its medical cannabis dispensaries across the state, expanding patient access to the types of products they have been requesting for years.
Trulieve has planned for the debut of edibles and, with the final guidelines in place from the Department of Health (DOH), once its products are approved by the DOH, will be able to introduce an exciting assortment of edible products.
In preparation for edibles rollout, Trulieve built out a 10,000 sq. ft. commercial-grade kitchen at its production facility in Quincy, FL, where Trulieve's skilled production team will produce initial products as well as test and develop new offerings. In addition to its branded product line, Trulieve has partnered with specialty edible brand partners Binske, Bhang, District Edibles and Love's Oven to expand its edible offerings to include cookies, brownies, and other products for Trulieve customers.
"Similar to what we saw when flower was introduced in 2019, we expect that edibles will contribute to a sizable share of overall sales," said Kim Rivers, CEO of Trulieve. "We know the demand is there, as we have been hearing from our customers for some time now. To meet that pending demand, Trulieve was the first in the Florida market to introduce ingestible products. We started with capsules and extended to other forms, such as TruPowder in January, follow-on flavored options just this month, and TruTincture Drops, which are similar to lozenges. We are glad to finally be able to offer edibles as yet another option for medical cannabis patients across Florida."
Rivers added, "We believe we are well-positioned to meet the expected market demand for edibles, and believe we are the only cannabis company in the state that can serve this variety across 56 stores with not only our own Trulieve branded edibles, but also robust product lines from partner brands."
Trulieve continues to build on strong expansion and financial growth, recently reporting Q2 2020 revenue of $120.8M and opening its 57th dispensary this week in Florida to serve nearly 400,000 patients in the state. Deemed an essential business, the company has continued to operate throughout COVID-19 and expanded its employee base to meet increased demand.
Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly traded cannabis company in the United States that launched the world's first cannabis-derived nutraceutical products, brands and supply chain, announced today that the Company has reached a significant operational milestone of selling and shipping more than 1.6 billion milligrams of hemp-based cannabidiol (CBD) since 2017.
The Company’s milestone comes at a time when e-commerce CBD sales have seen a sharp increase as four out of 10 CBD consumers plan to use CBD oil more frequently during the COVID-19 pandemic and 15 percent of those consumers plan on using a higher dose of CBD than usual.
“For a decade, our Company has offered the highest potency CBD product in an oral applicator form through our flagship product, Real Scientific Hemp Oil™. We’ve seen international media coverage of our customers having positive experiences with our products for over half of a decade,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “Many products on the market today use isolate forms of CBD, or contain no CBD at all, marketing themselves as ‘hemp oil.’ While we are glad to have such high demand for CBD products, we’re also proud to remain one of the highest quality CBD oils on the market.”
As one of the pioneers of the American hemp CBD industry, Medical Marijuana, Inc. has advocated for the compound for over a decade and the Company’s products have remained popular among consumers as mass awareness of CBD rapidly increases. Today, over 62 percent of Americans recognize CBD and/or CBD products and about 33 percent of Americans have used CBD at least once.
“We continue to believe in a world where CBD and other cannabinoid-based products are a part of the general population’s everyday wellness routine,” said Medical Marijuana, Inc. COO Blake Schroeder. “While many new companies enter the hemp CBD space, our portfolio of companies was the first to legally offer CBD products derived from industrial hemp.”
World High Life (OTCQB: WRHLF) acquired its wholly owned subsidiary, Love Hemp, less than a year ago, and since securing the London-based CBD company, World High Life continues to have that decision validated. In 2020, Love Hemp has enjoyed a breakout year of consistently strong growth, and the company recently announced that it has once again posted impressive numbers, this time for July 2020.
After reporting record financials in the first two quarters of 2020 that led to a 107% increase in online sales from January to May 2020, Love Hemp has continued that success to start the third quarter. In July, the company reported a 57% growth in sales over corporate sales in June 2020. Additionally, Love Hemp said its online sales remain significantly higher than pre-COVID-19 levels, which made up 62% of all of the company’s sales in July compared to the 40% of sales registered in January 2020.
Love Hemp is spearheading the development of the United Kingdom’s (UK) leading range of trusted CBD products, and its Chief Executive Officer (CEO), Tony Calamita, said of the continued growth, “The wellness industry isn't showing any signs of slowing down. What we have witnessed is an increased consumption of CBD during the pandemic, and we expect this to continue post-COVID-19.”
In fact, the growth has been so strong this year that Love Hemp has not only produced impressive sales results month after month, but it is now expanding its operations to meet overwhelming consumer demand. World High Life’s subsidiary has started construction on a new multi-level 13,500-square-foot facility that will increase production by more than five times its current output across its entire range of CBD products, including oils, cosmetics, and capsules.
The company announced that the new facility, which should be completed in about six months, will increase its daily on-site production from a limit of about 8,000 units of CBD oils, cosmetics, and capsules currently, to in excess of, 43,000 units per day when the project is completed in early 2021.
Love Hemp’s CEO commenting on the expansion said, “This expansion further increases our capabilities in striving to exceed customer and consumer requirements while improving storage and production capabilities, lead times and ensuring the safety of our staff. Our strategy is to continue to expand our local footprint, contributing to the future growth of our business, while also providing quality CBD products to our consumers throughout the UK and around the world.”
Expanding operations to increase production output comes at just the right time as the company’s sales continue to explode and as Love Hemp launched two new brands into the market this year. Love Hemp has over 80 products, including oils, sprays, edibles, cosmetics, and vapes, and the company currently enjoys around 1,200 retail listings. Calamita has always pointed to new product development, which is at the heart of everything the company does, to stay on top of what consumers are demanding more of from Love Hemp and the industry in general. “We currently have 15 new products in the development stage, and we remain committed to creating the UK’s leading range of trusted CBD products.”
In April, Love Hemp launched Love Hemp Immune, a blend of CBD, essential vitamins, including vitamins C and D, and bilberry extract to maintain a healthy immune system by supporting our body’s natural defenses. And, then in July, World High Life announced Love Hemp’s new brand, “Buzz Leaf.”
The Buzz Leaf product line is aimed at younger consumers that include the release of four broad spectrum CBD infused e-liquids with added terpenes, and eventually the launch of a full range of CBD products, including CBD oils and capsules. According to the company, the e-liquids feature exotic flavors that contain 500mg of CBD.
Sugarbud Craft Growers Corp. (TSXV: SUGR) announced that, as part of the previously announced contract manufacturing agreement, it has formally started the final development and qualification of its additive-free, full-spectrum vape cartridges with Heritage Cannabis Holdings Corp. (CSE: CANN).
Under the terms of the Agreement, Heritage will continue to provide Sugarbud with extraction, formulation and production services for the development of its pre-filled vape cartridges utilizing proprietary, additive-free formulations.
"Our high quality, additive-free, full-spectrum vape products contain dried cannabis as the sole ingredient and are a natural and logical extension of our inhaled product strategy. Sugarbud vape products will leverage and embody the quality, consistency, flavour profiles and aromas found in our exceptional craft cannabis flower," stated Mr. Kondrosky, CEO of Sugarbud.
New cannabis derivative products and formats such as vape cartridges and pens are a rapidly growing segment of the Canadian adult-use recreational market and Sugarbud expects that its high-quality, additive-free vape products will become a significant catalyst for future growth.
"We are confident that our partnership with Heritage will equip Sugarbud to deliver high quality products to consumers with the safety, integrity and exceptional outcomes they demand," concluded Mr. Kondrosky.
"We are very pleased to be working with Sugarbud on the production of full-spectrum vape cartridge products to support its cannabis 2.0 strategy," commented Clint Sharples, CEO of Heritage. "As Sugarbud's manufacturing partner, Heritage will produce high-demand, full-spectrum cannabis oil products using no harmful additives, flavours or carrier oils, and will maintain consistency in the strain profile between Sugarbud's craft cannabis and the final products."
The Company expects to apply to Health Canada for an amendment to its sales license to permit the direct sale of cannabis extracts in early Q4 of 2020.
Investor ideas reminds all listeners to read our disclaimers and disclosures on the Investorideas.com website and that this podcast is not an endorsement to buy products or services or securities. Investors are reminded all investment involves risk and possible loss of investment.
Learn more about our cannabis podcasts at https://www.investorideas.com/Audio/Potcasts.asp
Hear Investor ideas cannabis potcast on iTunes
Hear the investor ideas potcast on Spotify
To hear more Investorideas.com podcasts visit: https://www.investorideas.com/Audio/.
Investorideas.com podcasts are also available on iTunes, Spotify, Google Play Music, Stitcher, Spreaker, YouTube via Spreaker, iHeartradio and Tunein.
Potcasts is now a certified word mark Trademark on the blockchain through Cognate, Inc. CM Certification-Registration Number: 10468217708
About Investorideas.com - News that Inspires Big Investing Ideas
Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea’s original branded content includes the following podcasts and columns : Crypto Corner , Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change , Exploring Mining the AI Eye .
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
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Tuesday, August 25, 2020
Investorideas.com - Cannabis Stock News: THC (CSE: THC) (OTC: THCBF) Kiss Beverage Shot to Ship to Ontario's OCS - Pure Cannabis Sticks Available on Medical Site
Investorideas.com - Cannabis Stock News: THC (CSE: THC) (OTC: THCBF) Kiss Beverage Shot to Ship to Ontario's OCS - Pure Cannabis Sticks Available on Medical Site
Get the latest Cannabis and Hemp stock news from www.investorideas.com
Get the latest Cannabis and Hemp stock news from www.investorideas.com
Monday, August 24, 2020
Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 459 (TSXV: $SUGR.V) (TSX: $AVCN.TO) (CSE: $THC.C) (CSE: $CHV.C) (CSE: $TTT.C)
Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 459 (TSXV: $SUGR.V) (TSX: $AVCN.TO) (CSE: $THC.C) (CSE: $CHV.C) (CSE: $TTT.C)
Listen to the podcast:
https://www.investorideas.com/Audio/Podcasts/2020/082420-StocksToWatch.mp3
Read this in full at https://www.investorideas.com/news/2020/cannabis-potcasts/08241SUGR-AVCN-THC-CHV-TTT.asp
Hear Investor ideas cannabis potcast on iTunes
Hear the investor ideas potcast on Spotify
Today’s podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com "Potcast" featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.
In today’s podcast we look at a few public and private company announcements.
Sugarbud Craft Growers Corp. (TSXV: SUGR) announced that it has received approval from Health Canada for its amended sales license permitting the sale of dried cannabis products. Sugarbud is now able to directly sell its portfolio of exceptional craft cannabis products to all authorized provincial and territorial distributors/retailers as well as registered medical patients.
"Today's announcement represents yet another pivotal milestone for Sugarbud as we continue to scale up our commercial activities and build overall shareholder value for the Company," stated Sugarbud CEO, John Kondrosky. "Our amended Sales License now gives us the ability to take direct control of our own sales and marketing activities and further accelerate and expand the distribution of our core Craft Cannabis Dried Flower and Pre-Roll products into new target provinces - such as Alberta and British Columbia," continued Mr. Kondrosky.
The Company estimates that less than 30% of all active federally approved license holders possess a sales license permitting the sale of dried cannabis to authorized provincial and territorial distributors/retailers as well as registered medical patients. "Receipt of our amended Sales License is significant and was the result of a successful comprehensive inspection process. It is a testament to our day-to-day operational readiness and unwavering commitment to compliance as much as it is to the hard work, dedication and passion that our employees continue to demonstrate each and every day," concluded Mr. Kondrosky.
Sugarbud products are currently available in the province of Saskatchewan under the terms and conditions of the previously announced licensing and distribution agreement with Agro-Greens Natural Products Ltd.
Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products announced that through its majority owned subsidiary, Santa Marta Golden Hemp S.A.S., the company has completed exports of CBG and CBD isolates into the United States, CBD isolate into Germany and the commencement of a pilot tracking system for the export of its active pharmaceutical ingredient products in partnership with TruTrace Technologies Inc. (CSE: TTT) (OTCQB: TTTSF). The Company also announced that the Colombian Ministry of Justice and Law has granted SMGH a commercial and industrial cultivation quota for 12,264 THC plants by.
The export and sale of the commercial lot of isolated CBG into the United States was completed in parallel with commercial export of isolated CBD into the United States, as well as a pilot export for R&D purposes of CBD into Germany. The cultivation, extraction and purification of these cannabinoids including the rare cannabinoid, CBG, were all completed through Avicanna's vertical integration at SMGH and validate the company's innovation and leadership in natural rare cannabinoid production. The products are part of the Aureus™ product portfolio that now includes feminized seeds and advanced formulations as well as CBD, CBG and THC API products.
"This is another massive accomplishment for our team in Colombia as we enter the largest market in the world for non-psychoactive cannabinoids with our proprietary CBG offering. As the cannabinoid-derived products sector continues to evolve, our Aureus branded portfolio continues to advance in order to cater to the needs of our cosmetics and pharmaceutical partners, which require an innovative, credible, thoroughly-tested, organic, sustainable and economical source of input materials. Additionally, with the support of TruTrace, the Aureus products will be provided with traceability and trackability all the way back to the seed through a secured blockchain system." - Aras Azadian, Chief Executive Officer of Avicanna.
The Colombian Ministry of Justice and Law granted SMGH a supplementary cultivation quota to cultivate 12,264 psychoactive cannabis plants. 11,587 plants will be destined to produce dry flower which will then be used to manufacture psychoactive derivatives for commercial production for export. The remaining 677 plants will be utilized for psychoactive derivatives for the purposes of research and development and pilot production of Avicanna's RHO Phyto™ branded products in Colombia.
Lucas Nosiglia, President of Avicanna LATAM commented: "This achievement took years of characterization, evaluation and planning which will finally allow Avicanna to produce our THC products and export THC derivatives to our international partners. As one of the only companies permitted to produce THC commercially for the global market, we can focus on less competitive and high margin products."
THC BioMed Intl Ltd. (CSE: THC) announced the following updates:
THC BioMed announced that it has received notice from the U.S. Patent and Trademark Office, that it has allowed the patent application for THC's Clone Shipper Constant Illuminated, Tamper-Resistant Plant Container. This is a successful end to the patent application process. The next step will be the Issue Notification Letter to come from the USPTO, which THC expects to receive approximately 3 weeks prior to the official issuance date of the patent.
As noted in the title, this container provides the plant inside it with a constant source of light and helps plants do very well during shipping. The container is also tamper-resistant, which is important for shipping plants such as cannabis clones.
THC has also been focused on product development and sales for "Cannabis 2.0," with edibles and beverages. It has submitted the following new products to Health Canada for the 60-day notice period for new products:
THC BioMed's latest product, THC Kiss Gummies, are tasty gummy candies containing 2.5 mg of THC each. They will come with 4 in a package (10 mg.) The cannabis extract used is from the same proprietary extraction system as that used in THC Kiss beverage shot.
THC is also pleased to announce that a new product, Kiss Water, has been submitted to Health Canada. THC Kiss Water is a refreshing beverage with a slight herbal taste. Each 220 ml beverage contains 3 mg of THC.
THC chocolate has been formulated with the same cannabis extract used is from the same proprietary extraction system as that used in THC Kiss beverage shot and THC Kiss Gummies. The extract is designed to be fast acting and uplifting and to provide a realistic and great-tasting alternative to smoking cannabis.
Canada House Wellness Group Inc. (CSE: CHV) announced today that its wholly owned subsidiary, Abba Medix Corp., has received its amended sales license from Health Canada allowing for the sale of cannabis oil, concentrate, topical and edible products produced from its facility in Pickering, Ontario.
The Company also announced that Abba has entered into an agreement with Organic Extraction Technologies and is currently employing equipment and services sourced from OET to produce solventless cannabis rosin at its Pickering, Ontario facility.
This license amendment allows the Company to further expand its existing product offerings to the medical and recreational consumer markets with internally produced oil, concentrate, extract, topical and edible products. Abba is currently generating full-spectrum concentrates and will continue to work closely with Canada House's wholly owned subsidiary, Canada House Clinics ("CHC"), to expand its portfolio of products to best manage the complex physical and psychological conditions of its medical patient base.
"Receiving our Cannabis 2.0 sales license to allow for the sale of higher margin, internally produced products represents another key milestone on Canada House's path to profitability," said Chris Churchill-Smith, Canada House CEO. "Cannabis oil, rosin, and edibles are in high demand, and we've been developing formulations to address the health and wellness needs specifically as it relates to our Veteran patient base. This license amendment will allow Abba to capture an even greater share of the over $27M per year of medical products purchased by CHC's patients."
"It is a pleasure to work with Abba's terrific team while implementing our technology in their top-notch facility," commented Lindsay Labelle, CEO of Organic Extraction Technologies. "Solventless extraction without chemicals or additives only works with high quality cannabis. Our solventless products will allow us to showcase some of the best flower and trim in the industry. We are excited to bring the great genetics grown by Abba and its partners to market in new full-spectrum formats."
Investor ideas reminds all listeners to read our disclaimers and disclosures on the Investorideas.com website and that this podcast is not an endorsement to buy products or services or securities. Investors are reminded all investment involves risk and possible loss of investment.
Learn more about our cannabis podcasts at https://www.investorideas.com/Audio/Potcasts.asp
Hear Investor ideas cannabis potcast on iTunes
Hear the investor ideas potcast on Spotify
To hear more Investorideas.com podcasts visit: https://www.investorideas.com/Audio/.
Investorideas.com podcasts are also available on iTunes, Spotify, Google Play Music, Stitcher, Spreaker, YouTube via Spreaker, iHeartradio and Tunein.
Potcasts is now a certified word mark Trademark on the blockchain through Cognate, Inc. CM Certification-Registration Number: 10468217708
About Investorideas.com - News that Inspires Big Investing Ideas
Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea’s original branded content includes the following podcasts and columns : Crypto Corner , Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change , Exploring Mining the AI Eye .
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy:
https://www.investorideas.com/About/Private_Policy.asp
Investor Ideas does not condone the use of cannabis except where permissible by law. Our site does not possess, distribute, or sell cannabis products.
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Friday, August 21, 2020
Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 458- Interview with Tommy Chong- Legendary Activist, Actor and Comedian; @tommychong
Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 458- Interview with Tommy Chong- Legendary Activist, Actor and Comedian; @tommychong
Listen to the podcast:
https://www.investorideas.com/Audio/Podcasts/2020/082120-StocksToWatch.mp3
Read this in full at https://www.investorideas.com/news/2020/cannabis-potcasts/08211Interview-Tommy-Chong.asp
Hear the investor ideas potcast on Spotify
Hear Investor ideas cannabis potcast on iTunes
Today’s podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com "Potcast" featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.
In today’s podcast Investorideas interviews a legend within the cannabis space, Tommy Chong, where we discussed his thoughts on the cannabis industry today, where he sees things heading in the future as well as his recent multi-year agreement with Five Point Holdings through its subsidiary Five Point Distribution and Chongson Inc. of California.
Tommy Chong has built up his legendary status within the cannabis community as part of the iconic comedy duo Cheech & Chong. The duo have released a score of comedy albums, movies such as Up in Smoke, Cheech and Chong’s Next Movie and Still Smokin with Chong also having a separate acting career and having a recurring role on That 70’s Show.
Chong may have received fame and celebrity from his comedy and acting career but like any true activist he has also experienced the legal difficulties surrounding cannabis.
In 2003, Chong became caught up in two American investigations, code-named Operation Pipe Dreams and Operation Headhunter, which tried to trace drug traffic and users through businesses selling drug paraphernalia, mostly bongs.
Chong was charged for his part in financing and promoting Chong Glass/Nice Dreams, a company started by his son Paris. His case never went to trial, as his attorney negotiated a plea agreement with the US Attorney for the Western District of Pennsylvania's Office. He admitted to distributing 7,500 bongs and water pipes on the Internet through Nice Dreams, a family company. Chong agreed to plead guilty to one count of conspiracy to distribute drug paraphernalia in exchange for non-prosecution of his wife, Shelby, and his son, Paris. Chong cooperated with the government and was the first of the Operation Pipe Dreams defendants to plead guilty.
These events were among those chronicled in a/k/a Tommy Chong (2006), a documentary by Josh Gilbert. It premiered theatrically at the New York Film Forum in New York City and won awards. His time in prison was also a main point in his book, "The I Chong".
The irony is palpable that the very actions that saw him incarcerated earlier in life are now offering him a booming source of income as Cheech and Chong Glass expands across North America and as his and Cheech’s brand become one of the most sought after endorsements in the industry today.
When asked about this strange turn of events Chong commented, “I’ve been vindicated. I’ve always known that weed was good. When I was growing up I got into body building early, 15 or 16 years old, and with bodybuilding comes a healthy lifestyle and the only substance that anyone would abuse would be marijuana. So I knew early in my life that marijuana was good for you. It was healthy. My attitude was that anything that’s good, whether it’s legal or not, I’m gonna do it and it worked really well on a lot of levels. When it was illegal our movies were underground and we were the outlaws, and same with the records. We changed the whole comedy record business when we made 9 albums and now we’re about to be indicted into the Rock n Roll Hall of Fame. So we went from being these outlaw characters to now one of the foremost brands in the world. It’s been a nice ride.”
Chong then continued to discuss his thoughts on the industry as it stands right now saying, “Right now we’re in the beginning process of everything and so a lot of kinks are being worked out but I’m very happy that it’s legal and above board. Having been incarcerated for bongs, we went rags to riches and right now we’re on the verge of a lot of riches.”
When asked his thoughts on how many today are able to profit from the hard work and sacrifice of the many activists and people like himself he expressed a very beautiful outlook that many grassroots activists hopefully share.
“I was never in that illegal camp. I was never anti-pot and then all of a sudden the money was in there and then I’m pro-pot. I’ve been pro-pot since the beginning back to 1957.”
“Is there any animosity towards the many who were anti-pot and have now changed sides for profitability?”
“No not at all. I always look at people as either you’re turned on you’re not and once you get turned on it doesn’t matter what you were before.”
He continued by comparing this to the song Amazing Grace which was written in 1772 by English poet and Anglican clergyman John Newton. “It was written by a captain of a slave ship. He’d made a living transporting slaves to America and then one voyage he saw the light and wrote a song. So he changed from one of the most evil people on the planet to writing a classic song about redemption. That’s what I see when people flip from being a DEA agent to the head of a marijuana combine. I just see that as Amazing Grace in action. They saw the light and most of this is because the laws themselves were and are themselves racist. Marijuana was never illegal in the earlier days and was always used as a medicine. These laws have always been racist similar to how alcohol prohibition was racist as well. Marijuana prohibition replaced alcohol prohibition when enough French and Italian and Spanish got into power to change the laws but then they needed something else to jump on to be racist, and they grabbed marijuana.”
Discussing how he ended up partnering with Five Point Holdings he commented, “We were approached by a few people earlier, but none were serious enough. If you do anything for money you’re in trouble, but when you do it out of love like we did, well we just waited, and finally our turn came. We weren’t actively looking for anything, we were waiting to be found, and we got found and now Cheech is very happy and so am I. Five Points approached us with a very nice deal and Cheech and I both agreed. We’re gonna be around the world eventually but for now we're starting with San Francisco and Las Angeles. We’re going to be adding our celebrity-ism to this partnership and of course will be focusing on having a good product. If you have a good product, people will drive thousands of miles to get it.”
The company's management team has successfully operated businesses in the regulated cannabis market including retail, manufacturing, cultivation and distribution. This combination galvanizes the company and the Tommy Chong Cannabis brand partnership.
"It's important for me to feel comfortable when I'm putting my name on a product. I trust this team so our partnership is a natural fit" emphasizes Tommy Chong.
This partnership positions the company to be vertically integrated, selling through its own retail locations and distributing the branded flower to other licensed California dispensaries. This model creates the "moat" for the company as described by Warren Buffet.
"Combining Tommy's brand with the company's flagship Cheech and Chong Dispensary brand allows us to maximize resources. This enables the company to focus on scaling and opening new markets in both retail and wholesale" add the company's CEO Jonathan Black. The company expects to have products in the market by the end of 2020
We also asked Chong about his preferred methods of consumption these days to which he commented, “I’m a one toker. One or two tokes and that’s all I need. I also have those THC breathe strips that my wife takes to help her sleep and it helps knock her out for a couple of hours. I love them, but she loves them more than me. I’ve gotten everyone around me hooked on them. I’ve had Sugar Ray Lenord and his wife come biking by my house and they stay outside, because of social distancing, and asking for more strips and I’ve been getting everyone hooked on them. They’re so easy, they melt in your mouth and it even helps your breathe.”
Tommy also went on to discuss his vision of the future for cannabis in which it is accessible globally as well as where he sees things heading.
“It’s going to calm down. Our governments, especially in Canada, are trying to treat it like alcohol and trying to impose a “sin” tax because of it’s bad reputation. But, like I’ve told everybody, you gotta jump through hoops. I was approached by some Irish pot activists and they want me to help with legalization in Ireland. I told them we need very, very rich donors, we need deep pockets. Then we need the right lawyers and the right politician so they can talk with the right people and the Prime Minister and get things moving. Then we need to bring in Dr. Sandra Gupta to talk about the medical benefits of cannabis. That’s how we legalize it. When they legalized it in Colorado I was there and people were lining up outside of the dispensaries and it looked like people waiting to be healed by Jesus. There were in wheelchairs or crutches, MS patients, schizophrenics and all sorts of other people with mental problems or disabilities who needed this medicine to heal. If I were to testify anywhere now I’m gonna say that “marijuana was deemed essential during a pandemic” and what more do you need to know.”
Chong remains optimistic about the industry, a sentiment many investors can relate to in the cannabis sector and finished on a great line saying, “We’ve still got a lot of cleaning up to do and more than anything we need education but these are going to be the jobs of the future, in the weed industry.”
About Five Point Holding
Five Point Holdings Inc. and its entities, is an emerging cannabis company focused on distribution, products and brands operating across the U.S. The Company is actively developing infrastructure to support the proliferation of its assets initially through its acquisition of the exclusive rights in five states to the Cheech and Chong brand. The principals of the company have had multiple successful exits in the cannabis space.
Visit their website here.
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