Wednesday, March 15, 2023

Cannabis Deal Tracker: Investment and M&A Activity in the Cannabis, CBD and Psychedelics Industry March 6th, 2023 - March 10th, 2023

Cannabis Deal Tracker: Investment and M&A Activity in the Cannabis, CBD and Psychedelics Industry March 6th, 2023 - March 10th, 2023

Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move: #CzechRepublic, US Rescheduling and Raphael Mechoulam

 



 

Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move: #CzechRepublic, US Rescheduling and Raphael Mechoulam

 

Delta, Kelowna, BC, March 15, 2023 (Investorideas.com Newswire), investorideas.com,  a global news source covering leading sectors including marijuana and hemp stocks and its potcast site  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/2023/031523-Cannabis.mp3

 

Read this in full at https://www.investorideas.com/news/2023/cannabis-potcasts/03151Czech-Republic.asp

 

Hear Investor ideas cannabis potcast on iTunes  

 

Hear the investor ideas potcast on Spotify

 

Today’s podcast overview/transcript:

 

In today’s podcast we discuss some recent news in Europe regarding the Czech Republic, the progress of cannabis rescheduling in the US, and the death of renowned cannabis researcher Raphael Mechoulam.

 

In recent news out of Europe, Journalist Robert Veverka, director of the Czech-based cannabis magazine Legalizace, was convicted this week of ‘inciting the abuse of addictive substances’ and ‘spreading drug addiction through his magazine’.

 

According to the court in Ostrava, the third largest Czech city, the magazine offered instructions on how to illegally obtain cannabis, how to grow, process and use the plant. From time to time there were also seeds inserted in the magazine, since the sale and possession of cannabis seeds is completely legal in the Czech Republic, and there were disclaimers attached. The court also didn’t like advertisements of fertiliser companies and seed banks, although all the goods are normally sold in gardening shops and are all perfectly legal.

 

Veverka described the “spreading toxicomania” (or the ‘promotion of drug addiction’) section cited in the law as very flexible, sufficiently vague that it can be interpreted in many different ways so that it suits the prosecution, saying:

 

“It is a Bolshevik relic and a relic of totalitarianism. It allows for a loose interpretation of what constitutes incitement to substance abuse.”

 

He points out that it applies to all drugs but one – alcohol. The Czech media are full of adverts glamorising alcohol consumption, and promoting it even to kids. “But if you tell somebody they may want to try cannabis ointment on their knee, you can end up in court,” said the publisher.

 

The decision is definitive, his only remaining option being to appeal to the Supreme and Constitutional Court, which Robert Veverka intends to do– although nobody knows when (and if) these courts would take up the case, because they are overwhelmed.

 

“I will try to take this further to the highest courts to protect not only myself but any other media outlet that chooses to write about cannabis,” he said.

 

Throughout the court case, Mr. Veverka has had the support of prominent politicians from the Czech Pirate Party, of which he is a member.

 

For example, minister of regional development and vice prime minister Ivan BartoŇ° wrote on his Facebook: “The Pirate Party will always protect free access to information. In my opinion, in the case of Robert Veverka, the courts are criminalising the sharing of information that is completely harmless to society.”

 

In what has been described as an ‘attack on freedom of information and expression’, the Czech courts appear to be in contradiction with the country’s recent progressive approach to cannabis.

 

Just a month ago, government officials announced the country’s intention to legalise the adult-use of cannabis.

 

Veverka had previously appealed a conviction and sentence handed to him during an initial trial in November 2021.

 

After more than a year of arm wrestling with justice, he was again convicted by the Regional Court of Ostrava on Thursday, 2 March for ‘spreading drug addiction through his magazine’.

 

The news was announced yesterday by his friend and business partner Lukas Hurt in a post on LinkedIn.

 

In other recent news, last week more than a dozen bipartisan congressional lawmakers sent a letter to top Biden administration officials, demanding transparency in the ongoing marijuana scheduling review that the president directed last year.

 

Rep. Earl Blumenauer (D-OR) recently circulated a draft of the letter among colleagues, seeking signatories before sending the final version to U.S. Attorney General Merrick Garland and Health and Human Services (HHS) Secretary Xavier Becerra.

 

The letter states that Biden’s scheduling directive represents “an opportunity to make an honest assessment of the origins and implications of federal policy,” adding that “marijuana was scheduled based on stigma not science,” and it’s “time to address marijuana’s existing reality as a state-regulated substance.”

 

“The administrative review of marijuana’s scheduling should place the burden of evidence on maintaining marijuana’s status as a scheduled substance. To correct the failed war on drugs and cannabis prohibition, the assumption must be that, unless evidence undeniably indicates that marijuana is more prone to drug abuse than unscheduled substances already regulated at the state level, marijuana should be fully descheduled from the Controlled Substances Act.”

 

The lawmakers added that administrative descheduling would “not negate Congress’ obligation to act on comprehensive federal cannabis reform,” and that there are a variety of thoughtful legislative reform proposals that have been introduced in past sessions.

 

“Each of these proposals works to respect the leadership states have demonstrated for 50 years in rethinking the failed and discriminatory war on drugs approach to marijuana,” the letter says. “Given the scope of the federal government’s failure on marijuana, the Administration must also take meaningful action to deschedule marijuana and partner with Congress and the states in the work ahead.”

 

“To ensure accountability in your conclusions—which has been absent in so much of the history of federal marijuana regulation—transparency is key. We urge you to make available for public review and comment any evidence cited to demonstrate marijuana is more prone to drug abuse than descheduled substances already regulated at the state level. With the severe federal restrictions on cannabis research due to marijuana’s scheduling, it’s important that your departments review the full scope of research available. It is time to set the federal government on a better path for marijuana policy and engage transparently with the evidence.”

 

Lastly, Raphael Mechoulam, a renowned Israeli scientist often referred to as the "father of cannabis research," has passed away  at the age of 92.

 

Mechoulam and his team of researchers at Hebrew University began conducting experiments on cannabinoids in the 1960s and were the first to isolate delta-9 THC, the psychoactive component of cannabis. He also designed and synthesised several new cannabinoids with potential as pharmaceutical drugs.

 

Mechoulam was nominated for over 25 academic awards, including the Heinrich Wieland Prize in 2004, an honorary doctorate from Complutense University in Madrid in 2006, and the Israel Prize in Exact Sciences, Chemistry, in 2000. He was a founding member of the International Association for Cannabinoid Medicines and the International Cannabinoid Research Society.

Mechoulam was born in Bulgaria in 1930 and immigrated with his family to Israel in 1949, where he studied chemistry. He later received a Ph.D. from the Weizmann Institute in 1958, focusing on the chemistry of steroids. Mechoulam became a full professor at the Hebrew University of Jerusalem in 1972 after working as a member of the scientific staff of the Weizmann Institute from 1960 to 1965, where he focused on the isolation, structure elucidation, and synthesis of the main active principles of cannabis. His contributions to the scientific community have been immeasurable, and his groundbreaking studies have paved the way for future research on cannabis.

 

“I have spent most of my life decoding the mysteries to be found within this incredible plant,” he said. “I would like to see my colleagues forge ahead with their investigations, advancing even further the acceptance and integration of cannabinoids in traditional medicine.”

 

“Most of the human and scientific knowledge about cannabis was accumulated thanks to Prof. Mechoulam,” Hebrew University President Asher Cohen said in a statement. “He paved the way for groundbreaking studies and initiated scientific cooperation between researchers around the world. Mechoulam was a sharp-minded and charismatic pioneer.”

 

In 2022, the YIVO Institute for Jewish Research in New York City mounted its exhibition on Jewish contributions to the history of cannabis and highlighted the work of Mechoulam. “He’s worked on cannabis his entire life, and in the 1990s he and his colleagues discovered the endocannabinoid system, which regulates homeostasis — a significant discovery on how the human body deals with cannabinoids,” Eddy Portnoy, who curated the exhibit, told the Jewish Telegraphic Agency at the time. “I read an interview with him where he says that because he was in a small country, he would have to find a niche that other people weren’t working in.”

 

Prof. Mechoulam leaves behind his wife Dalia, son Roy and daughters Dafna and Hadas. His funeral was held on Sunday, March 12, in Jerusalem.

 

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.

 

To hear more Investorideas.com podcasts visit: https://www.investorideas.com/Audio/

 

The Investorideas.com podcasts are also available on iTunes ( Apple Podcasts) ,  Audible , Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio ,  Google Podcasts and most audio platforms available.

 

About Investorideas.com - Big Investing Ideas

We publish breaking stock news, stock research, guest posts and create original top rated investing podcasts, plus sector tag articles featuring up and coming companies and industry leaders.  Investor Idea’s original branded content includes the Crypto Corner Podcast , Play by Play Sports Podcast , Cannabis News and Stocks on the Move Podcast ,  Cleantech and Climate Change Podcast,  Exploring Mining Podcast , Betting on Gaming Stocks Podcast and the AI Eye Podcast.  We also create free investor stock directories for AI and tech, biotech, cannabis, cleantech, crypto, defense, gaming, health and wellness, mining, oil and gas, sports and water.

 

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.

Thursday, March 9, 2023

Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move: #Oklahoma, #Australia and Continued Cannabis Stigmas

 



 

Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move: #Oklahoma, #Australia and Continued Cannabis Stigmas

 

Delta, Kelowna, BC, March 9th, 2023 (Investorideas.com Newswire), investorideas.com,  a global news source covering leading sectors including marijuana and hemp stocks and its potcast site  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/2023/030923-Cannabis.mp3

 

Read this in full at https://www.investorideas.com/news/2023/cannabis-potcasts/03091Oklahoma-Australia.asp

 

Hear Investor ideas cannabis potcast on iTunes  

 

Hear the investor ideas potcast on Spotify

 

Today’s podcast overview/transcript:

 

In today’s podcast we look at Oklahoma’s rejection of recreational cannabis, roadside testing in Australia and the issues surrounding roadside testing in legal cannabis jurisdictions and the continued use of outdated cannabis stigmas

 

In recent news, Oklahoma rejected a new ballot intended to bring recreational cannabis to the state. The state, which currently has a growing medical cannabis industry, rejected the recent ballot question that would have allowed dispensaries across the state to sell cannabis to anyone over the age of 21.

 

The proposal was widely opposed by law enforcement, school administrators, and political and faith leaders.

 

About 10% of the adult population now has a medical licence, but the programme has been plagued by illegal growers, headline-grabbing crimes and a deluge of out-of-state consumers.

 

Pat McFerron, an advisor to the No 820 campaign, said the vote "sends a clear message that Oklahomans oppose the unfettered access to marijuana we have experienced under our so-called medical programme".

 

"Oklahoma is a law and order state," added Governor Kevin Stitt, a Republican who also opposed the measure. He vowed to "continue to hold bad actors accountable and crack down on illegal marijuana operations".

 

“Today’s decision in Oklahoma is heartbreaking, especially considering how many challenges this bill faced before it got to the ballot and how much work advocates put in,” said Jeffrey M. Zucker, co-founder and president of Denver-based cannabis consultancy Green Lion Partners and vice chair of the board at the Marijuana Policy Project, a national legalisation advocacy group.

 

“We have a long way to go to undo the damage of the war on drugs, especially in a state where more than 4,500 people are arrested annually for cannabis possession,” he added.

 

Last November, similar cannabis referendums were approved in Maryland and Missouri, but defeated in Arkansas, North Dakota and South Dakota.

 

In other news coming from Australia, Victoria’s drug-driving laws are set to be overhauled for medicinal cannabis users, with both major parties backing a push by Legalise Cannabis over the “unfair” rules.

 

Debate on the Road Safety Amendment (Medicinal Cannabis) bill, introduced by the newly elected Legalise Cannabis MPs, was adjourned on Wednesday after the government committed to addressing the issue within months.

 

The bill seeks to change the state’s road safety laws to treat medicinal cannabis like other prescription medications for drivers. Currently, it is an offence for a person to drive with any trace of tetrahydrocannabinol (THC) in their system, even if they have a prescription from their doctor.

 

The Labor MP Harriet Shing, who is a member of the medicinal cannabis and safe driving working group established by the government, said finding a “distinction between presence [of THC] and impairment” was a “significant priority”.

 

“This work has been going on for a number of years now. The working group has actually discussed at length the complexities of this matter and the options and opportunities that might be available,” she told the upper house on Wednesday.

 

“We need … to find a way through all of this so that all drivers are able to be safe on our roads and so that we can provide those medical supports that Victorians need and indeed deserve.”

 

The opposition leader in the upper house, Matt Bach, said the Coalition viewed the current system as “unfair” and “inconsistent” for 65,000 Victorians currently prescribed medicinal cannabis.

 

This has been an issue raised in many US states with medical programs as well as in Canada since federal legislation. One of the key issues being looked at in all areas is the specifics surrounding roadside testing and accuracy of the various equipment being used, how THC is absorbed in the body and the length of time it stays in your system and the fact that this is a medical product prescribed for a variety of medical conditions, some of which are necessary for work, unlike alcohol or other drugs which are tested for on the road.

 

Finally we look at the continued use of either unfounded or outdated cannabis stigmas in a variety of news outlets and how these so called “news stories” continue to avoid much more serious issues caused by alcohol use, tobacco use, refined sugars and traditional pharmaceutical medications.

 

It takes only a brief search on any search platform, most notoriously Google, to find a variety of news articles and seudo-studies discussing the dangers of cannabis use, the unknowns of cannabis use, outdated stigmas and anti-cannabis propaganda.

 

Typing just simply “cannabis” into Google’s search engine today brings up the following articles to list just a few.:

 

     Long-Term Cannabis Use, Cognitive Decline, and the Hippocampus” from Psychology Today, an article which implies a direct correlation between cannabis use and cognitive decline, but also offers none of the original data, underplays the fact that most of this data is obtained from interviews and does not include the cross reference data from the control groups.

     National Survey Reveals More Than One-Third of U.S. Women Consume Cannabis, But Stigmas Linger” from the Financial Post, which openly discusses how even though a large percentage of women admit to cannabis use privately, social stigmas keep them from admitting this openly, especially when looking at mothers.

     Rise in people using cannabis to treat health conditions - but doctors warn patients are putting themselves at risk” from Sky News, which discusses how as more people continue to use cannabis in the UK, doctors warn users of the risks of illicit cannabis, even though while cannabis users can admit themselves to the hospital, for a supposed cannabis overdose, there have been no reported overdoses of cannabis, a drug which has been connected to human culture for thousands of years

 

If you’re looking for articles which show much more realistic studies that have been conducted both long term and short term and have a much larger study group to go off of and discuss the vast potential of cannabis in reducing opioid addiction and overdoses, alcoholism, as well as anxiety, inflammation and depression, you have to go to cannabis devoted news sources like MJBizDaily, Marijuana Moment and Herb, to name a few.

 

It would be easy to argue there are biases on both sides of the argument, but the difference is the fear mongering surrounding cannabis is widely, if not entirely, unfounded. The criticism of pharmaceutical products like prescription opioids, which in 2021 had 16,706 deaths reported, alcohol, which is linked to more than 140,000 people (approximately 97,000 men and 43,000 women) deaths from alcohol-related causes annually, or refined sugars, specifically in beverages produced by companies such as Coca Cola and Pepsi, which a New Harvard School of Public Health (HSPH) research suggests that roughly 180,000 obesity-related deaths worldwide—including 25,000 Americans—are associated with the consumption of sugary drinks.

 

When compared to cannabis, which actually has more data that suggests that cannabis use appears to prevent approximately 17,400 to 38,500 premature deaths annually under current policies and an estimated 23,500 to 47,500 deaths which could be prevented annually if medical marijuana were legal nationwide.

 

This factual reality can seem impossible to believe when you consider that both alcohol, pharmaceutical products, some of which are being recommended for off-label use such as the recent news surrounding Ozempic, and refined sugar products are all allowed to be advertised nationally, if not globally, including on programming which minors can view, and are endorsed by government officials and regulatory bodies such as the FDA and CDC.

 

When looking at these facts and the transparent hypocrisy surrounding cannabis when compared to other openly legal substances, it's hard not to ask yourself, what are our world government’s smoking? It certainly isn’t weed.

 

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.

 

To hear more Investorideas.com podcasts visit: https://www.investorideas.com/Audio/.

The Investorideas.com podcasts are also available on iTunes ( Apple Podcasts) ,  Audible , Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio ,  Google Podcasts and most audio platforms available.

 

About Investorideas.com - Big Investing Ideas

We publish breaking stock news, stock research, guest posts and create original top rated investing podcasts, plus sector tag articles featuring up and coming companies and industry leaders.  Investor Idea’s original branded content includes the Crypto Corner Podcast , Play by Play Sports Podcast , Cannabis News and Stocks on the Move Podcast ,  Cleantech and Climate Change Podcast,  Exploring Mining Podcast , Betting on Gaming Stocks Podcast and the AI Eye Podcast.  We also create free investor stock directories for AI and tech, biotech, cannabis, cleantech, crypto, defense, gaming, health and wellness, mining, oil and gas, sports and water.

 

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.

 

Tuesday, February 28, 2023

Investor Ideas #Potcasts 649, #Cannabis News- Interview with CEO of NorCal Cannabis

 



 

Investor Ideas #Potcasts 649, #Cannabis News- Interview with CEO of NorCal Cannabis

 

Delta, Kelowna, BC, February 28, 2023 (Investorideas.com Newswire), investorideas.com,  a global news source covering leading sectors including marijuana and hemp stocks and its potcast site  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/2023/022823-Cannabis.mp3

 

Read this in full at https://www.investorideas.com/news/2023/cannabis-potcasts/02281Interview-NorCal.asp

 

Hear Investor ideas cannabis potcast on iTunes  

 

Hear the investor ideas potcast on Spotify

 

Today’s podcast overview/transcript:

 

In today’s podcast Investorideas interviews Jigar Patel, CEO of NorCal Cannabis, one of the largest cannabis operators in California and number one seller of indoor flower, powering beloved brands such as lolo, 1Lyfe, and Panacea, where we discussed surviving in the California cannabis industry, brand creation, inflation on cannabis sales and California cannabis cafes.

 

Patel has over 20 years experience in the cannabis industry and has been a key player in California’s explosive legal market. Founder of four cannabis businesses as well as being an industry leader in bringing local regulatory compliance to many jurisdictions including San Francisco, Santa Rosa, and Sonoma County, Patel’s leadership brought NorCal’s revenue from $2m to over $70m in just three years.

 

Patel began his cannabis journey in true organic fashion as he stated, “I guess my cannabis journey really began with consumption of the product at a young age. Like a lot of folks in my teens, I started trying cannabis and for me it was really an eye-opening thing. As the son of immigrants, I sort of had this path where I was supposed to, go be a doctor or a pharmacist and get a house and get married. And that was what the immigrant story was of the American dream. And I think, cannabis opened me up to a whole world, which I didn't really see prior to that and introduced me to lots of folks from different backgrounds.”

 

“When I went to school at Purdue, I ended up meeting some folks that were growing cannabis back then. Obviously in those days it was highly illegal, and some of those same guys actually had moved to California in the late nineties because of Prop 215 here, and I stayed in contact with them, learned about what was going on in the space and quickly knew that I wanted to be in it. I really dove into the culture of cannabis here in Northern California. Really seeing what it was about and what was this whole prop 215 thing, right? Not many people in those days really understood what it meant, and it was the quasi-legal way of providing medical cannabis to patients. So I quickly realised this was where I wanted to be, moved out here in the early two thousands, then jumped into the political realm and started to understand how I could help effectuate change at the local level and worked with Sonoma County, worked with the city of San Francisco and a lot of other cannabis policies early on. Fast forward to 2015 and I jumped in with two feet and built a grow in San Francisco and that was really the beginning of North Cal. During that time, I'd come across my other two co-founders, Blair Carter and Doug Cortina, who were doing a very similar thing in the same neighbourhood in San Francisco. We quickly realised we were stronger together and that initial partnership was at the beginning of NorCal and today we operate about a hundred thousand square feet of production with almost 30,000 square feet of canopy in our Santa Rosa campus.”

 

When asked about how NorCal helps differentiate itself from the competition and work towards true brand creations, Patel commented, “for us lead cultivators that have been working with for almost 20 some years, we've stayed together as a team, which is very rare in this space. So we operate three brands. One Life, panacea and Lolo. Really that's the good, better, best of indoor flower, and along with that we also make other products, but our core capabilities are in indoor cultivation. We really believe we are some of the most efficient operators in this space. Because we are efficient it allows us to, especially in our brand Lola, actually lead with quality, consistency, but also price.Because we are so efficient at what we do, we're able to provide that value to the consumer consistently and we believe we have the makings of a real brand. I don't think we've truly seen a real brand in cannabis yet and I think we've latched onto something really good with Lolo. I think it resonates with the consumer. I think the value proposition is perfect.”

 

When asked about the difficulties when it comes to marketing a brand like Lolo, Patel went on to say, “when we started NorCal, like everybody else, we'd raised a bunch of money and we had brought on a strong marketing team. I think that even when you talked to those folks that were part of that marketing team early on, I think what they will tell you is, everybody had grand ideas for how to really market cannabis, but nobody had ever really done it. They didn't understand how the system worked, they didn't understand the supply chain and as we brought in these great marketers, who came from very diverse backgrounds, I think what they realised quickly was this wasn't digital marketing, this wasn't Twitter, this wasn't any of the stuff that they were used to. This was a knife fight, those were their words. I think it became clear that these monster marketing budgets weren't really doing much. They weren't moving the needle, right? You would get media play out of it. They'd get a lot of attraction, but the ROI of actually selling cannabis wasn't there.”

 

Patel continued, “I think what we did, which was a little different, was when we did our marketing push early on, we spent a lot of time on business intelligence. What we were able to do there was utilise some of our historical knowledge of what happens in the space, combined with data that we finally had access to, and we were able to look and say, what does a consumer really want? What does a power consumer want? If you look at the power consumer in California, it always came back that they cared about quality, consistency, and price, and a bell went off for us. We don't have to do much. We don't have to spend a bunch of money on marketing. If we can hit those three things and provide that to the consumer, it will resonate. If you look at Lolo over the last year, we sold almost 1 million eighths of flour, which is pretty crazy to think about in a state like California where competition is crazy, and the fact that it's indoor flower I think says more. When we look at other states and realise that most states don't have the ability to grow outdoors, you start to see how Lolo can actually be a brand that actually resonates nationwide, right? As long as the feds don't legalise, which they’re not gonna do anytime soon in our opinion, you'll be able to have, I almost think of it like Coca-Cola bottling plants, different indoor facilities in different states producing the same type of product.”

 

In recent news, a new bill introduced in the state legislature by San Francisco Assemblymember Matt Haney, Assembly Bill 374, would allow cannabis lounges and retailers to offer food, drink, and live entertainment.

 

When asked about this new change for the Cannabis Cafes, Patel said, “I think the cafes are great. I think the one issue that we've seen is just the inability to have food and or drinks really takes the recreational aspect out of it. I'm a firm believer in letting people do what they wanna do and I think the more we can normalise that and allow that, the better it is for the plant.”

 

California’s cannabis industry, though still the largest legal market in the world, has been facing some issues in the legal industry over the past few years.

 

When asked what measures the state could take towards addressing some of the industrie’s issues, Patel commented, “I think there needs to be a reduction of the excise tax. What they did for cultivation tax in California was great, but again, it needs to be passed onto the consumer and I think that the conversation needs to change from this just being about tax revenue to really about jobs and employment.”

 

“We have ways to tax and make money as a state. What we really want are jobs and I think that mindset needs to change and people need to start looking at us, not as just a source of income for the state, but actually as citizens” Patel concluded.

 

No matter what market you’re looking at, there is always a discussion about Black Market cannabis and in California this is a large issue.

 

When asked about how he sees the black market either developing or fading out, Patel said, “People have been growing weed for 30 and 40 years on their parents' properties. You have this generation of folks where this was their life. When you think about the black market going away, what I do think is, I don't think you're gonna start seeing younger and younger growers getting into the game again. I think that the old timers either will make the transition or at some point give up. I think just if I look regionally, and we pay a lot of attention to what happens in the black market because it's all one market at the end of the day, when I talk to the grow shop owners or just locals around here, what I am seeing is a lot of those 10 lighters and 20 lighters and even 50 lighters that used to proliferate the Sonoma Napa or Sonoma Mendo landscape aren't there anymore and people have no intent of putting 'em back up.”

 

To keep updated on NorCal’s business and brands or to find out more information about NorCal Cannabis visit their website here.

About Investorideas.com - Big Investing Ideas

We publish breaking stock news, stock research, guest posts and create original top rated investing podcasts, plus sector tag articles featuring up and coming companies and industry leaders.  Investor Idea’s original branded content includes the Crypto Corner Podcast , Play by Play Sports Podcast , Cannabis News and Stocks on the Move Podcast ,  Cleantech and Climate Change Podcast,  Exploring Mining Podcast , Betting on Gaming Stocks Podcast and the AI Eye Podcast.  We also create free investor stock directories for AI and tech, biotech, cannabis, cleantech, crypto, defense, gaming, health and wellness, mining, oil and gas, sports and water. 

 

The Investorideas.com podcasts are also available on Apple Podcasts ,  Audible , Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio, Google Podcasts  and most audio platforms available.  

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.