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2017 Recap and New Year’s Wishes from Cannabis Industry Leaders!

The cannabis industry began 2017 with a high degree of optimism but also a great deal of uncertainty.

The fall of 2016 saw tremendous movement towards legalization with new initiatives in the form of full legalization in California, Nevada, Maine and Massachusetts. Four other states, Arkansas, Florida, Montana and North Dakota moved towards legalization of medical marijuana. Nevada raced towards implementing a fully regulated adult-use program and California begins the implementation of its regulated adult-use program January 1st.

Legislatures in Maine and Massachusetts went through the year trying to come up with a viable adult-use program only to face setbacks delaying implementation of the voters will, and Florida continues to struggle with the same regarding its medical program.

Canada moved towards full legalization under the Trudeau administration and the Canadian capital markets, encouraged by that and the opportunity to export around the world to other emerging regulated programs in Europe, South America, Central America, the Caribbean and Australia.

But with all of the momentum 2016 promised to bring, the U.S. cannabis industry is still mired in the uncertainty that has come with the election of Donald Trump and his mishmash of cabinet appointees and one Jeff Sessions, a prohibitionist through and through, and his cluelessness about cannabis with views that are set in the Stone Age.

An administration that has been embroiled in controversy since day one has failed to take advantage of an easy win and the support of the majority of Americans to end prohibition and right the wrongs of the War on Drugs, while creating hundreds of thousands of jobs, more federal tax revenues and providing relief to those suffering from PTSD, cancer, multiple sclerosis, muscular dystrophy, seizures and a myriad of other ailments as well as chronic pain – which in many cases contribute to the nation’s opioid crisis.

Overall, the Industry has seen positive movement in 2017 in many areas. If the excitement and attendance at this past fall’s MJ Biz Conference is any indication of its future promise, the little engine that roared will continue to build momentum even though future impediments, some seen and some hidden in the murky world of the prohibitionists who want to impose their minority position on the U.S., remain. At last count, the state of cannabis legalization through year-end 2017 is reflected nicely in the following scorecard.

Cannabis Programs Number of States Population % of US
States with CBD Programs 45  297,475,810 95%
States With Hemp Programs 16 237,476,445 76%
States with Medical Programs 30  195,131,085 62%
States with Adult-Use Programs 8 68,678,407 22%
US Population  312,326,693

Issues that rank high on the list of needing movement/progress in 2018 include banking, federal taxation, the opening of the U.S. capital markets – all of which are predicated on changes regarding cannabis regulation at the federal  level.

As we embark on 2018, CBE asked several cannabis industry pioneers and leaders to share their wishes for the industry in 2018. Below are their cannabis industry wishes for the New Year.

CBE Press thanks all of you for helping us grow and serve you this year. Happy New Year 2018!

2018 New Year’s Wishes From Cannabis Industry Leadership

Amy Andrle
Co-owner
L’Eagle Services

“With the cannabis industry continuing to take hold across the country, we will see consumers respond like they do when shopping in any other sector such as organic produce or craft beer. In the New Year, educated consumers will become more educated on differentiation and learning what questions to ask when it comes to what’s in their weed. They will drive the need for certified products. When the power shifts to the consumer who is demanding comprehensive testing, organic cultivation methods and fair trade practices – the business owners will adapt.Forward-thinking third-party organizations such as Clean Green Certified and the Cannabis Certification Council will continue to grow and provide businesses with recommendations on standardizing sustainable and ethical practices, and consumers with labels and seals they can trust. Certifications will offer consumers a way to make  informed purchases, and give brands a way to differentiate their products from competitors.”

 

 

Michael Bronstein
Executive Director
American Trade
Association of Cannabis and Hemp (ATACH)
and President,
Bronstein & Weaver, Inc.

“We find ourselves at a pivotal moment in the cannabis industry, perhaps the most important since Colorado, of which there will be before and after. It is becoming increasingly apparent that the very existence of this industry hinges on our own ability to show the public that we act responsibly. Those that meet these challenges successfully and help professionalize the marketplace, will be written into history as having changed the world. In other words, the stakes are high and our times require bold leadership. My wish for the industry is that we: work to professionalization the industry and bring credibility to the marketplace, develop standards that take into account health and safety of the consumer, embrace the role mainstream businesses will eventually play into the industry, focus on bringing real medical research to the market, end the 280 E and banking issues that have plagued the industry, and that we continue to make our case for legitimacy by the way we conduct ourselves. I am firmly convinced that the way that way we achieve our goals, and by extension grant our wishes for 2018, is that we do this work together, with one voice, and as a unified front.”
 

Avis Bulbulyan
CEO
Siva Enterprises

“If I had a wish for the industry, I would wish for everyone to be safe.  We’ve come a very long way but we didn’t get here just to get here.  This year was an amazing year for the industry with monumental advancements made on multiple levels.  In 2018, I think we’re going to witness an explosion of historic levels that many are simply not prepared for.  At a time in an industry filled with uncertainties and multiple threats on multiple fronts, we need to really step up this year, united and together.  The reality is that some companies will succeed and other companies will fail, it’s called business and our industry is no different.  Unfortunately, our industry is at a point in its time where there are regulatory restrictions on pretty much every level, making it much more dangerous in addition to all the other issues normal businesses face every day.  If we’re not safe, a lot of the other stuff doesn’t matter as much.  So I wish for everyone to focus on what they are trying to accomplish day in and day out and change or cause to change what you’re seeking to change, but always being safe doing it.

Now if you asked for a wish list, my top wishes include access to banking, regulatory protections, 280e reform, and de-scheduling, but I would also wish success for all the men and women out there grinding away, building what they’re building.  Even though many of us are competitors, I think it’s better to build together today, we will have more than enough time to be competitors in the future.  We are still at a point in time in the industry where there’s more than enough to go around to a point that it’s like fighting a wildfire with a cup of water.  Since you can’t control it all yourself, why not have an entire industry with cups of water in their hand to first contain the fire.  Then when the fire is contained, and we are a regulated industry that’s treated no different than any other regulated industry, let the competition begin.  And, even more realistically, by the time we even get there, and from the business plans I see daily, most of the companies fighting today will have long had a successful exit to 2nd gen operators.

I wish for everyone to be safe and successful in the New Year.”

 

 

Vicki Christophersen
Executive Director
Washington
Cannabusiness Association (WACA)

“While other industries celebrate the recent passage of a 2017 tax plan that provides relief and incentives in many sectors of our economy, cannabis remains unique in its ‘part-way there’ status. Despite the millions of dollars being generated in local and state coffers, job creation and innovation with a product that is bringing health relief and wellness to many, among other benefits, cannabis is still vilified by many from our nation’s Capitol to county commission rooms and city halls. In 2018, my wish is for parity in consideration of what cannabis delivers as an industry made up of highly-regulated entrepreneurs and professionals. And as the regulated cannabis industry in Washington looks back on the five years since voters first approved a legal marketplace in 2012, we acknowledge that our businesses are very much part of a still growing economic sector. We look forward to continuing to collaborate with lawmakers and regulators on practical solutions to continue supporting our nascent industry. As more states consider creating their own legal marketplace, we hope that in 2018 Washington will continue to be a leader in showing the way for safe, quality-controlled and regulated cannabis marketplaces across the country.”

 

 

Jay and Diane Czarkowski
Owners
Canna Advisors

“We wish for a wide open market where everyone has the opportunity to be involved. Then, let the cream rise to the top. That’s the only way a robust industry develops — and it’s the American way.”
 

 

Bob Eschino
Founder and President
Medically Correct, LLC

“With 2018 rapidly approaching, established cannabis industry operators, like incredibles, know that COMPLIANCE is the topic of the moment! Between Colorado updating its regulations (yet again) on January 1st, California unrolling retail and cultivation licensing, a plethora of new medical markets coming online across the Nation – industry-leading cannabis companies are now faced with the task of navigating the labyrinth of overlapping, often contradictory and unnecessarily complex regulations. As an industry, it is our duty to lead by example, always err on the side of caution and to focus on systematizing compliance best practices. As I say about incredibles “We’re a compliance company first and foremost,” which means that as we expand to Nevada, Illinois, Oregon and eventually California, Arizona, Ohio and beyond… our legal, compliance, marketing and operations department need to work in tandem. Our goal is to not only streamline incredibles’ operations in each state, but also to replicate legal due diligence, labels and best-practice protocols properly to ensure every nuance of each individual state law is executed upon to the word of law.
Starting with Colorado on January 1st, testing rules and labeling requirements are being updated. This requires licensees to adequately prepare, plan inventory and clearly communicate internally and externally. Not only is this an expensive endeavor, it is also the second time that a change like this has had to occur in the last year. Identifying individuals within your organization with cannabis experience and who are committed to regulatory compliance is the key to success. Looking to California, the historical ‘grey market’ is rapidly disappearing, but at a delayed and often disproportionate pace. This is made clear by the fact that, even with recreational sales set to unroll on January 1st in some areas, the cultivation licensing application process was only released on December 19th, less than two weeks before recreational cannabis was scheduled to unroll across the state. In conclusion, it is the prerogative of every brand, retailer and cultivator to remember the old adage ‘a rising tide lifts all boats,’ and to focus on compliance to ensure that the reputation of the cannabis industry continues to gain respect internationally.”
 

Dustin Eide
CEO
CanPay

2018 will be the year of cannabis e-commerce.

“While traditional retailers have seen large portions of their revenues shift to online sales, the cannabis industry, both due to strict state-level regulations and lack of transparent financial services, has so far been left out of this consumer-driven trend. That will change in 2018 as online payments become a reality for legal cannabis businesses.

Cannabis consumers, in states where such services are legal, will be able to order AND pay online for delivery or in-store pickup. As it has revolutionized retailer/consumer interactions in traditional industries, so to will e-commerce deliver convenience and safety to the cannabis purchasing experience.”

 

 

Marc Graboyes
CEO
Next Frontier Biosciences

“For 2018, I’m excited to see the cannabis industry continue embracing the power of scientific research and development to develop safer and more effective cannabinoid based products. I expect the industry to more deeply explore the benefits of cannabinoid purification and scientific formulation in the quest for cleaner and more well-characterized products that are free from the harmful effects associated with smoking. As we educate the public about the therapeutic benefits of cannabinoids, we will see patients trading in their dangerous opioids for safer cannabinoid-based products. With these improvements, the health and wellness communities will take notice of the important work the cannabis industry is doing, allowing us to expand our reach and spread the word to more individuals about how cannabis-based products can help improve their lives.

In the coming year, we will see the industry place a stronger emphasis on research, promoting a scientific evidence-based approach that will allow us to learn more about the vast potential of the plant. Contributing to the growing body of literature on cannabis will help us build and expand upon our current knowledge while informing our future efforts. As an industry, we will continue advocating for sensible legislation so that we can turn back the damage wreaked by prohibition and eventually overcome the negative stigma surrounding cannabis altogether. In turn, we will foster an academic dialogue that elevates the industry to the highest standards of excellence and cultivate a positive nationwide discourse.”

 

 

Marco Hoffman
CEO and Founder
Evergreen Herbal

“If you’re going to wish,
You’d better wish big
or don’t wish at all;
Because wasting a wish,
Is wishing small.

I wish for the end of racially skewed mass incarceration of non-violet drug offenders.

I wish for all the people who are struggling with opioid addiction, who have been lied to by their doctors and preyed upon by big pharma, are instead encouraged to find plant-based medicine giving them the ability to finally break the chains of addiction.

I wish that hemp based polymers bring an end to PET plastic bottles so we may begin to restore our oceans, and as a society demonstrate respect for the animals and their habitats that we have taken for granted.

I wish that our leaders will learn to follow the will of the people.

And finally,

To all my friends in the industry, I wish you success and happiness this year and every other.

May your 2018 be filled with peace, love and cannabis!”

 

 

Matt Karnes
Founder and Managing Partner
GreenWave Advisors, LLC

“As we look forward to the implementation and regulation of California’s recreational use market, we hope for detailed disclosures and reporting by the state pertaining to all aspects of its cannabis commerce.  A protocol similar (or even more granular) to Washington state, which provides specific sales by product (upon request under the Freedom of Information Act), would enable investors, business owners and analysts to make better informed decisions.  Accordingly, less reliance would be placed on statistical data which could differ materially from actual reported results and, at some point, we hope that all regulated cannabis markets will provide similar disclosures.”
 

Tripp Keber
Dixie Brands

“Once again 2017 was a whirlwind year for me with a flurry of activity including Dixie market expansion (some that is paying off – NV / some that is not – AZ) as well as various M&D deals that were presented. As with most other companies, Dixie was faced with some tough decisions  due to the fact that we were undercapitalized.  I have found this consistent across most cannabis brands and I am excited to see where my company is positioned for 2018 and beyond. As many have read, Dixie will be embarking on its next round of financing in 1Q ‘18 and my biggest wish is that all interested parties will see the value that currently resides within the company; moreover the long-term value that is still yet to come. The most recent strategic announcement allows for us to leverage a larger footprint through the Rose Capital “ecosystem” while likely being able to reduce overall operating costs. This bodes well for our shareholders – new and old !
Additionally in my new role with BR Brands, I will spend a good part of the coming year with cannabis brands across the country to determine which might be most accretive to the Rose “ecosystem”. I am incredibly excited to begin this next chapter in what has already been an amazing and fulfilling career. I am confident there are many deals to be explored and my desire is to meet these “brands” sooner vs later!
Lastly I wish my teammates at Dixie, my business partner Chuck and of course all of the thousands of fellow cannabis entrepreneurs across the world much prosperity and success in the coming year. May the seas be calm but there be a strong wind at our backs!”

Kristi Kelly
Executive Director
Marijuana Industry Group

“In 2018, my wish would be to see the end of cannabis prohibition, and the opening of safe and legal pathways to access. But that’s a long-term goal, so a more pragmatic wish would be to see the industry come together to resolve pressing limitations like 280E, to proactively and responsively use science and data to educate (the aforementioned) prohibitionists, and to participate in the creation of a national/global blueprint for the industry’s enduring success.”

Neal Levine
Senior VP
Government Affairs
Livwell Enlightened Health
and Chairman
New Federalism Fund

“My wishes for the industry are an equitable tax structure to any other industry in America, real commercial banking services, renewal of Rohrabacher/Blumenauer, and federal law enforcement to continue to show respect and deference to the rights of the states that have opted out of federal cannabis prohibition in some form.

To my fellow travelers in the industry, I wish for happiness, eventual prosperity, and for everyone to be engaged in the communities that we operate in. We are ambassadors, trailblazers, and freedom fighters. Be diligent, be focused, and be kind to everyone you meet.”

John Lord
Chief Executive Officer
Livwell Enlightened Health

“Looking ahead to 2018, I am proud of the accomplishments our industry has achieved, and I look forward to further progress in the coming year. As more Americans enjoy the benefits that accompany legal cannabis – including increased tax revenue, job creation, ancillary business growth, diminishing cartel profits, and quality medicine for patients in need – the public’s support for common sense cannabis policy reform has become overwhelming. It may not be next year, but it is now possible to see legal cannabis becoming a reality for all Americans in the near future.
Although we in the cannabis industry continue to face headwinds, from an unfair tax burden (280E) and banking restrictions to overly aggressive compliance regulations that prevent some entrepreneurs from entering the industry and impede the growth and successful operations of those already in business, I am confident that we will see positive developments across the board in 2018. With the support of our fellow businesses, our industry regulators, our allies in elected office, and our loyal patients and customers, there is no limit to the progress we can achieve.
I am ever-grateful to the hardworking staff at LivWell Enlightened Health, and to the amazing patients and customers we serve every day. The stories of patients whose lives have been changed for the better thanks to cannabis continue to inspire me and my colleagues to build the best industry possible. I wish everyone a happy, healthy, and successful 2018!”

Celeste Miranda
Founder and CEO
The Cannabis Marketing Lab

“With the holidays upon us and 2017 drawing to a close, it’s a great time to look back at this unforgettable year. Together we have reached new heights with cannabis legalization and advancements. I’m so very proud of the work that you and your teams are doing to make the plant a force for good in the world, both through products and by making a difference on issues that touch millions of lives.
Enjoy this time with your friends and loved ones. I could not be more excited about what’s in store for next year, and for the opportunity to work with all of you to make it happen.
From myself and my teams at The Cannabis Marketing Lab and MACE Media, we wish all of you the happiest of holidays.”
 

Don Murphy
Director of Conservative Outreach
MPP

“My wishes for the New Year include having Rohrabacher ‘baked into the cake’ of the CJS Appropriations bill. An end to the ‘Hero Double-Standard’  aka VA Directive 2001-004. I’d like for EVERYDAY be an industry Lobby Day on Capitol Hill. And I’d like to trade in some bad guys for good guys in November 2018.”
 

Allen St. Pierre
Vice President,
FreedomLeaf Partner,
Sensible Alternative
Investments Member,
NORML board of directors

“My sincere hopes for 2018 in the world of cannabis are:
  1. In the states that have abandoned pot prohibition the economic, public safety and societal benefits from a tax-n-control cannabis policy continue to be self-evident, with hundreds of millions coming into local, county and state tax coffers.
  2. At least four more states choosing tax-n-control over prohibition, notably in the states of AZ and MI (voter initiatives) and RI and VT (via legislation). Once a state ends cannabis prohibition via legislation, it likely opens up a dam of a few dozen states soon following, which, ultimately forces the federal government to end its 80-year-old prohibition.
  3. The rollout of legalization in America’s biggest and most important state, California, goes well, paving the way for numerous other states to follow.
  4. States proactively file lawsuits against the federal government in a manner similar to states’ current efforts in the U.S. Supreme Court seeking to allow states to establish their own online sports betting systems.
  5. Congress passing an ‘Anti-RICO Abuse’, which is directed at stopping private citizens and businesses from trying to use the federal courts to shut down state-licensed and compliant cannabis-related businesses.
  6. As cannabis legalization continues to blaze state-to-state serious and immediate policy discussion ensue, such as is the case in California currently, where legislatures in reformed states embark on a program of releasing all non-violent, cannabis-related prisoners (of which there an estimated 60,000-80,000 in America).”

Jonathan Wachs
Principle
Offit Kurman

“I wish regulators across the country will actively compare notes and begin to create a common set of understandings regarding industry best practices and shared observations.

I wish industry operators will recommit themselves to finding the right balance of building their individual businesses while at the same time building a successful yet fragile industry.

I wish the federal government will recognize the inefficiencies and hypocrisies present in the current system and will work towards rescheduling cannabis.

I wish 2018 is viewed as the beginning of “tipping point” – the commencement of enough successful legal cannabis programs in enough states such that Americans not only believe but view first-hand how the industry can be safe, well-regulated and a lasting component of everyday life in our country.”

 

Nancy Whiteman
Co-founder/co-owner
Wana Brands

“In 2018, the cannabis industry will see continued sophistication and expansion. We will see rapid expansion of professional brands customers have learned to trust, and we will also see a lot of consolidation. 2018 will be the year of cannabis expansion in the United States and around the world. We could see adult-use legislation on a dozen or more state ballots in November, such as Arizona, Florida, Illinois and Michigan. Trusted brands will move into states where the adult-use market is coming online in 2018, including California, Maine and Massachusetts. Cannabis brands will address consumers’ desire for products that are consistent and deliver a specific expected effect. And there will be more tools and resources for education–both for consumers and sales associates/budtenders–so consumers have the best possible experience after they leave the dispensary.”

 

Adrian Z. Sedlin
Chief Executive Officer
Candescent

“In 2018, I hope to see more investment by traditional, institutional sources into U.S. cannabis companies.  At present, our Canadian counterparts are locking in long-term strategic advantage by attracting institutional capital and the valuations to match.  To compete in the mid and long-term, U.S. cannabis companies need access to these deeper capital pools to build out IP and to accelerate their race to scale.  Without proper access to capital, U.S. players who touch the plant will be little more than couch-locked, zombies waiting to be taken out by their friends in the North.  My hope in 2018 is for institutional capital providers to recognize that cannabis will come off Schedule 1 and that the time to invest in the U.S. is now.”
Rob Meagher

Rob Meagher

Rob Meagher, CBE’s Founder, President and Editor-in-Chief is a 30 year veteran of the media world. His career has spanned from stints representing the Washington Post, USA Weekend, Reader’s Digest, Financial World & Corporate Finance to the technology world where he worked at International Data Group and Ziff Davis where he was part of the launch team for The Web Magazine, Yahoo Internet Life, Smart Business and Expedia Travels before starting his own marketing and Publisher’s Representative Firm. He also ran all print and online media sales and marketing for the Society for Human Resource Management before partnering with Forbes and then Fortune to create Special Sections covering a variety of topics. Rob, who started CBE Press in 2014, can be contacted at [email protected].

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