#Lightshade Dispensaries (CO)

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Cannabis Trade Federation Announces Full Board, Readies Inclusive Membership Options

Cannabis Trade Federation Announces Full Board, Readies Inclusive Membership Options

What started with the formation of the New Federalism Fund back in March of 2017, has taken on increasing momentum as the Cannabis Trade Federation (CTF) has clearly emerged as the professional “Voice of the Cannabis Industry”. After many months of building a formidable team to represent the Cannabis Industry’s interests at the federal level on Capitol Hill, CTF, which was founded on 4/20/2018…

[marijuanabusines]

The Week In Cannabis: Stocks On The Rise, Earnings, Big Cannabis Sales, Moves In Argentina, & Marijuana Hedge Fund

Cannabis stocks were back in the green this week, as earnings season kicked off. 7/17/20 - #Marijuana #HedgeFund : DayTradeReport.com

But it was not only companies reporting their sales this week. States like Illinois and Colorado also put out their marihuana figures. Illinois said it saw marijuana tax revenue total $52 million in the six months since it legalized recreational use on Jan. 1. Over the same period, cannabis sales in the Prairie State amounted to $239 million.

Meanwhile, “Colorado continued to show what a juggernaut it is in terms of sales,” Debra Borchardt, CEO of Green Market Report, told Benzinga. “$192 million in the month of May during a pandemic is impressive, to say the least. With so many new states coming on, we forget how important Colorado is to this industry.”

Worldwide legal cannabis spending also surged considerably, posting its biggest year of growth in 2019, according to data firm BDSA. The Arcview Market Research/BDSA forecast model shows worldwide spending grew 46.1% to $14.8 billion in 2019 over the course of a six-year period from2013 to 2019.

During that time, legal spending grew at a 34.3% compound annual growth rate (CAGR).

Worldwide legal cannabis industry revenue is forecast to grow another 38% to $20.4 billion in 2020, and sales are forecast to reach $46.8 billion in 2025, growing at a 21.2% CAGR 2019-2025.

In the U.S. legal cannabis spending increased by 36.5% to $12.4 billion in 2019.

Bank of America Securities also weighed in on cannabis this week. According to a research report by Bryan Spillane and Lisa Lewandowski, cannabis legalization will likely be an important issue for the U.S. presidential election of 2020.

However, the COVID-19 pandemic could put the debate on hold, they said.

The analysts break down the hypothesis into four elements, which include congressional activity, the Unity task force formed by Democratic candidate Joe Biden and Vermont Senator Bernie Sanders, cannabis taxation and legalization measures at the state level. Read the full article here.

In Argentina, the Ministry of Health said it would make definitive changes to the country’s medical marijuana law. On Wednesday, the Health Minister met with key actors to close details on a draft regulation that will allow for home cultivation of cannabis and the production of oils and topicals by local pharmacies.

The measure will also guarantee access to medical cannabis to all patients free of charge, regardless of their health coverage.

MPX International Corp. (CSE: MPXI) (OTC: MPXOF) reported its revenue jumped by 276% over the year to CA$798,516 (US$587,000). That’s a sequential increase of 29.5%.

MJardin Group Inc. (CSE: MJAR) (OTC: MJARF) released its first-quarter financial results for fiscal 2020. The Toronto-based company generated revenue of CA$2.2 million (US$1.6 million) during the quarter, down by roughly 80% compared to the same quarter last year. The company posted a negative adjusted EBITDA of CA$3.2 million versus a loss of around CA$3.4 million in the first quarter of fiscal 2019.

WeedMD Inc. (TSXV: WMD) (OTC: WDDMF) disclosed that its revenue rose by 327% to $12.2 million. That's a year-over-year increase of 265%.

More on this week’s results, including those out of Artelo Biosciences (NASDAQ: ARTL), at Benzinga Cannabis’ Earnings Center.

Stocks were mostly in the green. Over the five trading days of the week:

ETFMG Alternative Harvest ETF (NYSE: MJ): gained 3%

AdvisorShares Pure Cannabis ETF (NYSE: YOLO): surged 4.2%

Cannabis ETF (NYSE: THCX): rose 3.9%

Amplify Seymour Cannabis ETF (NYSE: CNBS): advanced 3.8%

SPDR S&P 500 ETF Trust (NYSE: SPY) closed the period up 1.3%

Benzinga Cannabis’ content is now available in Spanish on El Planteo.

The week, we also learned that Aphria (TSE:APHA) (NASDAQ: APHA) and Aurora Cannabis (TSE:ACB) (NYSE: ACB) were considering a merger, but suspended talks after failing to agree on board composition, according to Bloomberg.

If a deal had come to fruition, the combined entity would be valued at roughly $3.5 billion and maintain a 30 percent market share of the Canadian recreational cannabis sector.

Following the news, Cantor Fitzgerald's Pablo Zuanic maintained an overweight stance on both companies.

Regarding APHA, Zuanic increased its 12-month price target from C$9.55 to C$10.50. Aphria’s fourth-quarter 2020 results will be released on July 28.

Due to the economic disruptions generated by COVID pandemic, Zuanic anticipates small gains in profitability, modeling gross margins to stay at 25% - consolidated - and EBITDA at C$7.7 million - 5.1% of sales.

Mike Tyson-founded The Ranch Companies has acquired a license to print cannabis products from Smart Cups. Read about this interesting development here.

Jushi Holdings Inc. (CSE: JUSH) (OTC: JUSHF) updated a debt financing deal, raising a total of $17.4 million via a debt offering.

Israeli cannabis company Univo Pharmaceuticals Ltd (TLV: UNVO) saw its stock soar this week, especially on Thursday, after the company reported preliminary results for the first half of 2020.

The spike comes on the heels of several company announcements. Read all about them here.

AltMed Enterprises was awarded U.S. and European patents for its Encapsulation Technology and trademark on EnCaps. This new technology delivers faster and long-lasting relief for medical cannabis patients and creates more effective products for those who want a smoke-free option, a company representative explained.

“These techniques have been widely used in the pharmaceutical industry to improve the efficiency and efficacy of products,” said Todd Beckwith, AltMed Director of Corporate Affairs. “This formulation innovation simply delivers more effective and faster-acting effects that will continue to clearly differentiate the MÜV Products line from others.”

Lightshade, a chain of cannabis dispensaries in Colorado, added its ninth location with the acquisition of craft cannabis retailer Sacred Seed. With locations in Denver, Federal Heights and Aurora, Lightshade is one of the last independent dispensary chains in the state. This was a major factor for Sacred Seed co-founders Jennifer and Jeremy Kilbourne and Gabriel Gaston when deciding to sell.

“This is not a takeover. Our plan is to honor the original store and the hard work that was put into creating it,” said Lisa Gee, Director of Marketing and CSR at Lightshade. “These smaller, independent dispensaries are an important part of their neighborhoods and we are not going to forget this, but highlight it instead.”

Jennifer will stay on at Lightshade and Jeremy will now devote his time to his nonprofit The Mask Project, which makes and donates protective masks to local fire departments and assisted-living facilities.

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A Lack of Federal COVID-19 Relief Impacts Cannabis—But A Proposal May Change That

Addison Herron-Wheeler of High Times Reports:

As bailout money for businesses and stimulus checks for individuals come rolling in, one industry is left entirely out of the equation: cannabis. 

Although in many states, cannabis has been deemed an essential industry and allowed to stay open, that’s not the case in every state, and even in essential states, sales have taken a hit because of social distancing and stay-at-home orders. The industry could also use a bailout, and it’s not getting it. 

“As long as cannabis is a Schedule I substance under federal law, it is illegal for any federal funds to be issued directly to cannabis companies that touch the plant,” explained Andrew DeAngelo, cannabis industry consultant and strategic advisor and co-founder of Harborside dispensary in California. “Some funds may, but not likely, get issued to cannabis companies from state or local funds, but I am sorry to say that we will be on the bottom of the list of stakeholders who receive funds. Cannabis may be deemed essential in some legal states, but the stigma of cannabis is alive and well and will prevent funds from coming our way. The political power of cannabis is not yet up to speed enough to make meaningful changes to this outcome given the politics of the stimulus.”

Because of this harsh truth, companies are left to their own devices, promoting, looking for avenues that are still legal, and hopefully staying afloat.

“Without relief, many companies will be forced to shut their doors, including retailers, brands, farms, and ancillary businesses,” said Sam Ludwig, president of Aster Farms, a sustainable-growth cannabis farm in Northern California. “Our industry currently employees almost 250,000 people. That is more than the textile, brewing, and coal mining industries combined. Cannabis is the fastest-growing industry in the country, so hopefully the government will wise up, take notice, and support the extraordinary growth our industry has witnessed over the past few years.”

Because of this predicament, Lisa Gee, director of marketing at Lightshade, a dispensary chain in Colorado, believes that the best way to help the hurting industry is to create legal loopholes that will help it survive and thrive. 

“I think the silver lining is that the conversation in our industry has shifted a little bit now that it’s been considered an essential service,” she explained. “This is probably the 20th or 25th interview I’ve done on the topic, so there’s definitely conversation. In Colorado, overnight, we saw an implementation of curbside, and even delivery, which was completely off the table before all this happened. So there are ways to do it and potential workarounds if cannabis companies can’t get grants or loans.” 

She also explained that another way the industry could get help in essential states is a loosening of regulations. Understaffed and overworked because of sick employees staying home, folks running dispensaries wish they could help out and hire those who have been laid off from food service, but the red tape of getting a license to work in the industry stops that from happening instantly. 

“There could be some permissions granted to allow people to work on a 90-day basis or 120-day basis without a medical badge,” she explained. “If the industry can come up with some of these suggestions on the state level, then we can continue to add value to our economies. Cannabis has driven over a billion dollars worth of taxable revenue in the state of Colorado and creates a huge base of taxable income that goes to support lots of other industries, not just our own.” 

Hope On The Horizon

In light of the struggle cannabis businesses are facing, as well as the fact that many small businesses have balked at the closing of the first round of COVID-19 funding, 10 senators and 34 members of the house are calling for cannabis businesses in legal states to be eligible for the next round of funding. 

“The cannabis industry supports more than 240,000 workers in the United States, spanning 33 states and the District of Columbia,” the senators wrote in a letter on April 22. “We ask Senate leadership to include in any future relief package provisions to allow state-legal cannabis small businesses and the small businesses who work with this industry to access the critical SBA support they need during these challenging and unprecedented times.”

If cannabis businesses across the U.S. receive federal funding, this will further solidify the need for legal cannabis, and will no doubt save some small cannabis businesses that will otherwise go under during this crisis. In the meantime, many are hoping for local regulations to loosen as well.

TO READ MORE OF THIS ARTICLE ON HIGH TIMES, CLICK HERE. 

https://hightimes.com/news/politics/lack-federal-covid-relief-impacts-cannabis-proposal-may-change/

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Dispensary Tour - Lightshade Havana, CO

Dispensary Tour – Lightshade Havana, CO

Lightshade is one of the most reputable, high-end marijuana dispensaries in Denver, serving medical and adult customers at multiple locations in the Denver metro area, including Aurora and Lakewood. Established in 2011, Lightshade has a reputation for growing the best quality genetics in Colorado. With the highest THC levels in lab results for our marijuana strains, it’s no surprise that cannabis…

[medicalmarijuana-news]

Lightshade on Havana – 2016 Leafly List Winner (Colorado)

At a Glance

Dispensary: Lightshade – Havana

Location: 503 Havana St., Aurora

Medical/recreational: Both

Owner: Steve Brooks

Years in business: 6

Number of reviews in 2016: 886

Total products: 217

Flower products: 12

Concentrate products: 47

Edible products: 75

Pre-rolls: 6

Other products: 77

Budtender Casey Robertson, right, helps customers Jeremy Driskill, from left, Destyni Paschall, and Derick Pruitt choose from merchandise Wednesday, Jan. 11, 2017 at the Lightshade dispensary located at 503 S Havana Street Denver, CO. Robertson has worked at Lightshade for four years. (Daniel Brenner for Leafly)

With six locations across Colorado and two more set to open this summer, Lightshade is one of the key players responsible for setting the pace of the cannabis industry. “When Colorado moved forward with the legalization of medical cannabis, I saw an opportunity to get involved and to create a unique business model,” says Steve Brooks, one of three partner owners of Lightshade. “[It’s] centered on providing excellent customer service, high-quality product, and a warm and welcoming shopping experience.” Each Lightshade location adheres to this tried and true model, and each has found success in the booming Colorado cannabis business.

All three Lightshade partners are former home builders, and they leveraged extensive experience to build their first storefront and a state-of-the-art cultivation facility in 2010. With the facility at their disposal, the sky became the limit for creating exceptional products. “We carefully select only the best genetics to grow in our own cultivation facilities, [and] use the most current growing techniques, organic nutrients, and pest control methods,” says Brooks of the strains that make it onto the shelves at the Havana location. In addition to these strains, Brooks makes it a priority to “regularly meet with our processors and third-party vendors to collaborate on how to provide the highest-quality product.” Lightshade also actively develops community engagement programs to give back to local causes, and as a member of the Cannabis Chamber of Commerce and the National Cannabis Industry Association, the company is often looked to as a model of how to build and expand a cannabis business.

The team at Lightshade on Havana regularly surveys customers to gain insight on what products to carry and changes to make, so don’t be afraid to make your voice heard when you visit the store. Education is a high priority for both budtenders and consumers; currently, the team is creating and rolling out video content that covers all things cannabis, from how to consume various products to cannabis laws and guidelines. When you stop by the cozy and friendly dispensary, be sure to check out the smorgasbord of artisanal waxes, shatters, live resin, distillates, budders, and full melt, crafted by local producers from Lighthouse’s homegrown strains. And after your visit, pop right next door to El Camaron Loco for some tasty seafood-centric munchies.

The exterior of a Lightshade dispensary Wednesday, Jan. 11, 2017 located at 503 S Havana Street Denver, CO. (Daniel Brenner for Leafly)

In Brooks’s Words

Top selling product: “White Dawg flower.”

What is the surrounding neighborhood like? “Filled with fun, engaging customers who are loyal and friendly. There is a great taco truck parked next door that serves amazing street tacos. It is a must-stop for me every time I visit our Havana location.”

Fun fact about your dispensary: “The name ‘Lightshade’ comes from the cannabis plant flowering cycle and the need for 12 hours of light and 12 hours of shade in order for the plant to begin flowering.”

What inspires you to come to work? “It is an honor to be a part of a movement in this country to end cannabis prohibition. I love coming to work every day because of the dynamic nature of the industry and the challenge to stay relevant in a very competitive market.”

Budtender Casey Robertson uses chalk to color a drawing on the wall Wednesday, Jan. 11, 2017 at the Lightshade dispensary located at 503 S Havana Street Denver, CO. Robertson creates chalk artwork at seven locations and has worked at Lightshade for four years. (Daniel Brenner for Leafly)

What Leafly Reviewers Say

The “high-quality” service at Lightshade makes consumers shout, “Can I get an amen!?” They are “always convenient and fast” with “fresh buds” and products that are “a step above any dispensary” around. With rotating deals, fans are always “impressed” by this “awesome” Lightshade Havana location.

Runner-Up: Infinite Wellness Center (Fort Collins, CO)

Leafly Staff

The post Lightshade on Havana – 2016 Leafly List Winner (Colorado) appeared first on Leafly.

from Medical Marijuana News http://ift.tt/2iDfqMF via https://www.potbox.com/