August 16 2021,
THE BIG IDEA
Remember when August used to be sleepy? Not anymore. Today we’ve got tons of new hires, all sorts of company milestones and an exclusive interview.
- Trulieve CEO’s husband found guilty in federal corruption trial
- FDA snubs CBD again?
- Talking Points: Marketer and Branding Bud author David Paleschuck
Let’s get to it,
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Why did the FDA snub CBD (again)?
Talking Points: Branding Bud author David Paleschuck
Before he joined the cannabis industry, David Paleschuck put together a career that seemed destined for it. A skateboarder with an MBA, before going green, he notched stints at American Express, Microsoft and Mountain Dew among other big brands. Now he’s Group Chief Branding Officer at The Matters Group.
Paleschuck’s new book, Branding Bud: The Commercialization of Cannabis, is a compendium of what he’s learned from a decade in the industry with in-depth examinations of many prominent brands. He recently shared a few thoughts with WeedWeek for our Talking Points interview series.
- As legalization gains steam, anti-legalization activist Kevin Sabet’s group Smart Approaches to Marijuana is shifting its focus to promote potency caps.
The News Station
- Illinois, Maine, Michigan and Missouri reported record breaking sales in July.
Detroit News, Press Herald
- An investor called Trulieve, Curaleaf, Green Thumb and Cresco Labs the fab four MSOs. (Cresco reported Q2 revenue of $210M and net income of $2.7M)
- CNBC has four things to watch during earnings season.
- The Wall Street Journal took a look at hydroponics retailer Grow Generation‘s stock.
- A former mayor of Adelanto, Calif. who opened his town to the industry, was arrested by the FBI and plead not guilty to corruption charges. I wrote about him in 2017.
San Bernardino Sun
- A judge ruled the Las Vegas Police Department’s ban on cops using cannabis is “untenable.“
- In Oklahoma, a computer glitch apparently led to a raid on a licensed MED grow causing millions in damages.
- Due to the difficulties of the business, California growers may be at increased risk of suicide. If you or someone you know is in crisis, resources are available through the National Suicide Prevention Lifeline (800-273-8255)
- Pennsylvania won’t reveal how many MED patients say they are addicted to opioids.
- Critics says Arizona’s nearly finalized equity rules don’t go far enough.
- California’s supreme court prohibited cannabis possession in prison.
- Massachusetts dispensary Major Bloom wants to appeal to traditional market consumers.
- MSO Ayr Wellness said it would acquire the Massachusetts-based parent of Levia infused seltzers for $20M plus up to $40M in milestone payments.
- MSO PharmaCann confidentially filed to go public at a valuation well over $1B.
- Canadian retailer Superette unveiled its new Sip -‘n’-Smoke retail concept.
- Weedmaps‘ iPhone app is now shoppable.
- MJBizCon announced a partnership with Hall of Flowers.
- Real estate finance group New Lake went public in a deal valued at about $100M.
- Branding agency Green Street will merge with cultivator Green Spectrum and distributor Bridge Distribution into a vertically integrated company led by former Pabst Brewing company CEO Matt Bruhn.
- MSO C3 Industries released a brand refresh.
- Tilt Holdings entered a partnership with edibles brand 1906 to manufacture and distribute its products in Pennsylvania, Ohio and Massachusetts. TILT also said it would uplist to Canada’s NEO stock exchange.
- Testing tech company PathogenDx said its Quant-x Total Yeast and Mold test received an AOAC® Performance Tested Methods SM (PTM) Certificate.
- Veritas Fine Cannabis appointed banker Charles Womack as its exclusive financial advisor.
- MSO MariMed named former Sam Adams CMO Robert Hall to be senior brand and marketing advisor. It also hired Kevin Compagna as VP wholesale and licensing, North America.
- The Parent Company named Troy Datcher to be the first Black CEO of a major cannabis company. Datcher has had a long career at the Clorox Company. Current CEO Steve Allan will remain at the company.
- Goodness Growth Holdings named Josh Rosen, managing partner at Bengal Capital and former 4Front CEO, to its board of directors.
- Former anti-legalization congressman and head of the Department of Health and Human Services under President Trump Tom Price joined the board of Botanical Services, one of six cannabis businesses to receive a MED license in Georgia.
- California retailer Urbn Leaf named former FAO Schwartz CEO Ed Schmults CEO. It also appointed Danelle Sarvas VP marketing and promoted Dina Howard to VP human resources.
- Rolling papers player Republic Brands named Paul Marobella president and CMO. He was previously chairman and CEO of North America for Paris-based advertising company Havas.
WEEDWEEK HIGH SOCIETY -- 8/16/21
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Here’s Zeno Dose CEO Jack Dreifuss and delivery service Grassdoor CEO Zack Ein at an L.A. party introducing Zeno’s microdose (0.4 mg THC) tablets. (On Grassdoor, a pack of 18, containing 7.2 mg of THC, costs $20.)
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