Member Blog: Maximizing Success in the Cannabis Industry – Unpacking Market Maturity and Strategic Approaches
The cannabis industry is evolving faster than ever, with new markets opening up and existing ones maturing. But how do you know if your state is primed for growth or if you’re navigating an already saturated market? To thrive, it’s essential to understand where your state sits on the legalization journey and what strategic actions can drive success.
Join us for an insightful webinar hosted by the National Cannabis Industry Association (NCIA) in collaboration with CannaSpyglass and featuring expert insights from Apex Trading and CannMenus. This session, titled “Service Solutions: Mastering Data-Driven Success in the Cannabis Industry,” will dive into key factors that shape success in emerging and mature cannabis markets. Below, you’ll get a sneak peek at what we’ll cover on November 13th, 2024, at 3:00 PM ET.
Key Market Phases: Understanding Your State’s Trajectory
Cannabis markets in the U.S. generally fall into three categories: Upcoming, Emerging, and Mature. Each stage comes with unique regulatory landscapes, market opportunities, and challenges. Let’s break down what each phase means and how it could impact your business:
Upcoming Markets These states are in the early stages of cannabis legalization, often focusing on medical use with limited licenses. Examples include Kentucky and Minnesota, where medical programs are being established, with retail sales anticipated by early 2025. In these states, early movers can seize vendor partnerships and establish consumer trust before the market becomes crowded.
Emerging Markets States like New Jersey and Ohio represent active markets where licenses are increasingly accessible. Businesses here benefit from expanding consumer bases and opportunities for new entrants, with regulated sales expected to soar—New Jersey alone anticipates over $1 billion in sales by the end of 2024. Emerging markets are excellent grounds for growth but demand a keen focus on compliance and adapting to evolving regulations.
Mature Markets In established states like California and Colorado, competition is fierce, and margins can be tight. While new licenses may be limited, these markets allow opportunities for mergers, acquisitions, and refined operations. Mature markets also provide a roadmap for price trends and consumer demand shifts, valuable lessons for businesses in newer markets.
Navigating the Hype Cycle: The Influential Role of Market Dynamics
Whether you’re in an upcoming or mature market, the factors that influence success go beyond the legalization timeline. During the webinar, our panel will address the critical elements of the cannabis hype cycle and discuss how they influence market dynamics:
License Caps & Moratoriums: Limited vs. unlimited license markets can dictate competition levels and growth rates.
Compliance Requirements: From rigorous inspections to video surveillance mandates, compliance can impact operational costs and scalability.
Municipal Guidelines: Local opt-outs and license restrictions affect market density and accessibility for consumers.
Social Equity Programs: Equity initiatives can provide critical opportunities or barriers, depending on your status and location.
Multi-State Operators (MSOs): In certain states, MSOs dominate, creating competitive challenges and setting high standards for new entrants.
Seizing Opportunities in Each Market Phase
For cannabis businesses, each market phase offers opportunities and hurdles. Here’s a quick look at how each stage requires tailored strategies:
Upcoming Markets: These markets present chances for early partnerships and brand establishment. Vendors here are in high demand as businesses prepare for retail launches.
Emerging Markets: Building a loyal customer base and securing real estate can be pivotal as more operators enter. For cultivators, planning for price declines is critical.
Mature Markets: Efficiency is paramount. Businesses must focus on lowering production costs and exploring niche segments to sustain profitability amidst tightening margins.
Webinar Takeaways: Empowering Cannabis Business Leaders with Data-Driven Insights
This session won’t be just an industry overview; it will provide you with a roadmap for actionable insights. Attendees will walk away with:
Understanding of Your Market’s Position in the Maturity Cycle: Learn where your state stands and what challenges or opportunities lie ahead.
Strategic Tips for Each Market Stage: Discover tailored approaches for upcoming, emerging, and mature markets.
Insights into Regulatory Impacts: Gain a thorough understanding of how license caps, compliance, and social equity affect the industry.
This is an unmissable opportunity for cannabis entrepreneurs and stakeholders to elevate their knowledge and drive data-driven success. Register nowto join NCIA, CannaSpyglass, Apex Trading, and CannMenus on November13th for a webinar that promises to reshape your approach to cannabis market strategy.
Access the full recording of our insightful webinar, “Rescheduled Realities,” and explore the transformative impact of cannabis rescheduling to Schedule III on the manufacturing sector.
In this fifth installment of NCIA’s #IndustryEssentials multi-part webinar series, our expert Cannabis Manufacturing Committee delves into the major shifts and implications following the rescheduling of cannabis. This session provides invaluable insights and practical guidance to help your business adapt and excel in the evolving landscape.
Learning Objectives:
Future of Manufacturing Post-Rescheduling: Understand the anticipated changes and their impact on the industry.
GMP and Regulatory Requirements: Navigate the updated Good Manufacturing Practices and regulatory standards.
Focus on Extracts and Concentrates: Gain insights into the production and regulation of cannabis extracts and concentrates.
Impact of Big Pharma: Explore how the pharmaceutical industry’s involvement might influence manufacturing.
Best Practices for Non-Pharmaceutical Quality: Learn strategies to maintain high-quality standards in a non-pharmaceutical context.
This session is essential for cannabis manufacturers looking to navigate the upcoming changes, ensure compliance, and maintain high-quality production standards. Join us to stay informed and prepared for the future of cannabis manufacturing.
Why Watch?
Gain critical knowledge and practical tools to adapt to regulatory changes, enhance your manufacturing practices, and remain competitive in the market.
Watch Now to equip yourself with the insights needed to thrive in the new cannabis manufacturing landscape!
Taking the Long View – Strategic Facility Design Considerations for the Schedule III Era
In the dynamic landscape of the cannabis industry, regulatory changes can significantly impact how businesses operate and plan for growth. The recent proposal to reschedule cannabis from Schedule I to Schedule III has sparked discussions across the industry, particularly regarding facility design and operational strategies. This blog dives into key insights from the National Cannabis Industry Association’s webinar on “Taking the Long View – Strategic Facility Design Considerations for the Schedule III Era,” highlighting expert advice and practical recommendations for stakeholders navigating these changes.
The webinar, hosted by Brian Gilbert of the NCIA, served as a crucial platform for industry professionals to explore the implications of cannabis rescheduling on facility design and operations. The session focused on four main pillars: understanding tax changes, enhancing operational efficiency, promoting sustainable growth, and implementing practical strategies to navigate regulatory shifts.
Key Takeaways
1. Policy and Tax Implications
The discussion, led by Shawn Cooney of Cloud Farming, Chair of NCIA’s Facilities Design Committee, underscored the potential financial benefits for businesses following cannabis rescheduling (00:03:41). A highlight was the exploration of Section 280E, which could offer substantial tax savings once regulatory changes are implemented. Jeremy Schlicher of Urban Green Design expanded on these insights, offering strategic financial planning advice aimed at leveraging tax incentives to reinvest in facility improvements (00:07:21).
2. Operational Efficiency and Sustainability
Efficiency in energy management emerged as a critical theme throughout the webinar. Experts emphasized the importance of conducting energy audits and adopting efficient lighting and HVAC systems (00:10:18). These measures not only reduce operational costs but also align with sustainability goals crucial for long-term viability in the industry. Practical recommendations tailored to cultivation, manufacturing, and retail sectors were discussed to optimize workflow efficiencies and regulatory compliance (00:15:10).
3. Cultivation Methods and Environmental Considerations
Kim Kannapel of Modern Thermal Design provided invaluable insights into cultivation methods and environmental sustainability. The webinar highlighted the viability of various methods—indoor, greenhouse, and outdoor—each catering to different market segments and regulatory landscapes. The discussion underscored the role of climate and local regulations in shaping cultivation decisions (00:37:28), emphasizing the need for adaptable strategies that prioritize energy efficiency and environmental stewardship.
As Chair of NCIA’s Facility Design Committee, Shawn Cooney brought deep regulatory expertise to the discussion. He emphasized the importance of holistic sustainability practices and compliance with evolving regulatory frameworks. His insights into tax implications and strategic planning resonated with participants seeking clarity on financial strategies post-rescheduling (00:25:32).
Kim Kannapel’s contributions focused on environmental sustainability within cannabis cultivation. Her expertise in optimizing cultivation methods highlighted the interconnectedness of environmental stewardship and operational efficiency. By advocating for adaptive strategies, Kim encouraged businesses to consider long-term environmental impacts when designing and expanding their facilities (00:37:28).
A staunch advocate for the innovative triple bottom line approach, Jeremy Schlicher brings a wealth of knowledge to the discussion on strategic facility design in the cannabis industry. He emphasizes the integration of economic prosperity, environmental stewardship, and social responsibility in every aspect of facility planning and operations. Jeremy’s insights into maximizing operational efficiency through sustainable practices, such as energy audits and efficient HVAC systems, underscore his commitment to reducing environmental impact while enhancing business profitability.
Importance of Participating in the Public Comment Period
Participating in the public comment period is crucial for shaping the future regulatory landscape of the cannabis industry. The Department of Justice’s proposal to reschedule cannabis presents a unique opportunity for stakeholders to voice their perspectives and influence policy decisions. NCIA has launched a dedicated tool to streamline this process, making it easier for industry professionals to submit informed comments.Submit your comment here.
Recap of Episode I & II
Episode I: Understanding Section 280E and its Impact on Cannabis Businesses
In Episode I, the focus was on the financial and tax implications of rescheduling cannabis. Section 280E was a major topic, with discussions centered on how the rescheduling could lead to significant tax savings and the importance of strategic financial planning for businesses to maximize these benefits.
Episode II: Cannabis Rescheduling’s Impact on Research and Safety
Episode II delved into the implications of cannabis rescheduling on research and safety protocols. This session emphasized the potential for increased research opportunities and the necessity for businesses to stay ahead of regulatory changes to maintain compliance and ensure product safety.
Looking Ahead: Preview of Episodes 4 & 5
Episode IV: Navigating Insurance and Risk Management in the Schedule III Era
Join us for the fourth episode of NCIA’s multi-part #IndustryEssentials webinar series, “Navigating Insurance and Risk Management in the Schedule III Era,” led by our Risk Management & Insurance Committee. This session delves into the evolving landscape of cannabis insurance and risk management, highlighting the opportunities and challenges presented by the rescheduling of cannabis to Schedule III.
Date: Tuesday, July 9th, 2024 Time: 3:00 PM EST – 4:00 PM ET
Episode V: Cannabis Manufacturing in the Schedule III Era
Building on the insights from our first four episodes, join us for the fifth installment of NCIA’s #IndustryEssentials multi-part webinar series. This session, led by our expert Cannabis Manufacturing Committee, will focus on the profound impacts and implications of rescheduling cannabis on the manufacturing sector. As we navigate these unprecedented changes, our panel of industry leaders will provide critical insights and practical guidance to help your business adapt and thrive in this new landscape.
Advancing the Industry Together: NCIA’s Mission in Action
The overarching theme of this series is to equip cannabis industry stakeholders with the knowledge and strategies needed to navigate the complex landscape of regulatory changes. By understanding the financial, operational, and research implications of cannabis rescheduling, businesses can better position themselves for sustainable growth and success. Each episode builds on the previous one, creating a comprehensive resource for industry professionals to stay informed and proactive in their planning and operations.
The webinar “Taking the Long View – Strategic Facility Design Considerations for the Schedule III Era,” offered a comprehensive roadmap for stakeholders navigating regulatory changes in the cannabis industry. By addressing tax implications, promoting operational efficiency, and advocating for sustainable growth practices, the session equipped participants with actionable strategies to thrive amidst evolving regulatory landscapes.
Call to Action
As the industry continues to evolve, staying informed and proactive is crucial for cannabis businesses. Explore NCIA’s resources, including upcoming webinars and educational materials, to deepen your understanding of regulatory changes and strategic facility design considerations. Engage with industry peers and experts to share insights and best practices that drive sustainable growth and operational excellence.
For those not yet members, consider joining the National Cannabis Industry Association (NCIA) to unlock unmatched benefits, resources, and access. Membership provides exclusive opportunities to influence industry standards, gain regulatory insights, and network with industry leaders. Join NCIA today to leverage these benefits and stay ahead in the competitive cannabis market.
Cannabis Rescheduling Impact on Research and Safety: Insights from NCIA Webinar
In the second episode of NCIA’s new multi-part #IndustryEssentials webinar series, titled “Advancing Cannabis Science: Research Opportunities and Safety Post-Rescheduling,” we delved into the significant changes and opportunities that would emerge following the rescheduling of cannabis to a Schedule III drug. Led by NCIA’s Scientific Advisory Committee, this session provided a comprehensive overview of the cannabis rescheduling impact on research and safety in the evolving cannabis landscape.
Setting the Stage | Panelist & Moderator Introductions
The discussion began with an overview of the Controlled Substances Act and the historical context of cannabis scheduling. The panelists highlighted the journey from Schedule I to Schedule III, emphasizing the critical changes that come with this shift, particularly in terms of research opportunities and regulatory frameworks.
Cassin Coleman provided an in-depth explanation of the rescheduling process, focusing on the 8-factor analysis used to determine the appropriate schedule for a substance. This analysis includes factors such as the drug’s potential for abuse, scientific evidence of its pharmacological effects, and the current scientific knowledge regarding the substance.
The panelists explored the new landscape for researchers, discussing the relaxation of stringent requirements that previously hampered cannabis research. They highlighted the potential for increased federal funding, the ability to conduct more comprehensive studies, and the removal of barriers that have long impeded scientific progress in the field.
The conversation shifted to the practical implications for researchers and industry professionals. The panelists shared insights on how to prepare for the new opportunities afforded by rescheduling, including advice on setting up compliant research protocols and leveraging the new regulatory environment to advance scientific inquiry and innovation.
Kenya Alexander and Dr. Cynthia Shelby-Lane emphasized the importance of ensuring diverse representation in cannabis research. She discussed strategies to include underrepresented communities in studies and the critical need for research that addresses the unique needs and experiences of these populations. This part of the discussion further underscored the cannabis rescheduling impact on research and safety.
The panel addressed the broader social implications of cannabis rescheduling, particularly the need to heal the damage caused by the War on Drugs. They discussed the importance of bridging the communication gap between researchers and communities and ensuring that the benefits of cannabis research are equitably distributed.
Audience Q&A
The session included a robust Q&A segment, where the panelists answered a wide range of questions from the audience:
In their closing remarks, the panelists reiterated the importance of embracing the new opportunities presented by cannabis rescheduling. They encouraged researchers, product developers, and industry stakeholders to stay informed and proactive in adapting to these changes.
The session concluded with a heartfelt thanks to all participants and a reminder of the value of NCIA membership. By supporting the organization, members help drive critical reforms and advancements in the cannabis industry, ensuring a brighter future for all stakeholders.
This episode of NCIA’s #IndustryEssentials webinar series provided essential insights into cannabis rescheduling impact on research and consumer safety. As we navigate these changes, NCIA remains committed to supporting our members and advocating for a more inclusive, equitable, and scientifically advanced industry. Stay tuned for future episodes and continue to engage with our expert-led discussions.
Join us for Episode III, “Committee Insights: Taking the Long View – Strategic Facility Design Considerations for the Schedule III Era,” on Tuesday, June 18th at 3PM ET / 12PM PT. Experts from NCIA’s Facilities Design Committee will discuss the implications of cannabis rescheduling on facility design and operations, focusing on strategies for optimizing facility layout, equipment selection, and workflow management. Learn how to leverage tax changes and sustainability principles to enhance operational efficiency and ensure long-term viability. Don’t miss this opportunity to gain valuable insights for your cannabis business. Register now!
Start Making Sense: What Does Schedule III & Section 280E Mean for Me?
Rescheduling cannabis signifies a monumental shift for our industry, specifically presenting a potential pathway to alleviate the burdens imposed by Section 280E. In a new multi-part #IndustryEssentials webinar series, led by experts from our 14 member-led Committees, NCIA will provide a comprehensive analysis of the immediate and long-term impacts on different sectors within the cannabis industry.
In our debut session, led by the Banking & Financial Services Committee, we provided invaluable insights into the transformative implications of rescheduling cannabis to a Schedule III drug and its consequent impact on Section 280E of the Internal Revenue Code. In “Schedule III & Section 280E: What Does It Mean for Me?” broadcast LIVE on Thursday, May 30th, we explored the game-changing potential of this shift, offering actionable insights for businesses navigating the evolving regulatory environment.
Neil Rosenfield, CPA:Provided insights into the significance of comprehending and championing advocacy organizations to address regulatory hurdles.
Steven Gotsdiner, CPA: Illuminated accounting requirements tailored to cannabis businesses, drawing attention to the nuances across various states.
Eric Kaufman, COO: Shed light on the hurdles encountered by cannabis enterprises, while also elucidating the potential benefits stemming from regulatory changes.
Aaron Smith, NCIA: Emphasized the pivotal role of industry participation in policy reform endeavors, highlighting NCIA’s instrumental role.
Among the topics explored during the webinar was the profound impact of rescheduling cannabis on federal legality, state and local tax obligations, and the broader regulatory landscape. With cannabis poised to transition to Schedule III, businesses are poised to embrace newfound opportunities while confronting challenges inherent in navigating this regulatory terrain.
Neil Rosenfield of BakerTilly USA underscored the significance of contributing to and championing advocacy organizations to effectively address regulatory hurdles. Aaron Smith echoed this sentiment, emphasizing the pivotal role of industry participation in policy reform endeavors, highlighting NCIA’s instrumental role in spearheading these changes.
Another focal point of discussion revolved around the ramifications of rescheduling on tax obligations and deductions governed by Section 280E. The panelists provided invaluable insights into the implications for tax planning, including adjustments to tax bills, cash flows, and essential updates to accounting records and charts of accounts.
Steven Gotsdiner of HBK CPAs illuminated accounting requirements tailored to cannabis businesses, drawing attention to the nuances across various states. Eric Kaufman, COO of FundCanna, shed light on the hurdles encountered by cannabis enterprises, while also elucidating the potential benefits stemming from regulatory changes, such as managing surplus cash flows and preparing for shifts in interstate commerce.
Eric Kaufman explored whether rescheduling cannabis to Schedule III would reduce the cost of capital for operators and recommended strategies for deploying increased cash flows to scale and grow businesses effectively.
The webinar also delved into the anticipated timeline for these regulatory shifts, offering insights into potential implementation trajectories spanning from 2023 to 2025. Strategies for navigating diverse timelines and regulatory fluxes were discussed, equipping businesses with the tools needed to adapt and flourish in an ever-evolving landscape.
Thanks to the informed engagement of our audience members, a cornerstone of what makes our webinar series so valuable for members, the discussion touched on the definition of “Good Accounting Practices” and whether this includes Generally Accepted Accounting Principles (GAAP). The panelists also speculated on the possibility of new excise taxes replacing 280E and the potential impacts on federal protections like bankruptcy and IPOs.
As the program was extended in order to answer all of our audience questions, the session concluded with insights into how these regulatory changes might affect the CBD and hemp industries. The panelists emphasized the importance of staying informed and adapting to varying state-level requirements.
As the cannabis industry continues its evolution, proactive engagement with regulatory changes remains paramount for business success. The insights shared during NCIA’s #IndustryEssentials webinar series offer a compass to navigate the labyrinth of regulatory complexities and position businesses for enduring prosperity. By fostering active engagement and advocacy, cannabis enterprises can shape a regulatory landscape conducive to industry growth and development.
To continue facilitating these crucial dialogues amongst operators, regulators, and stakeholders, NCIA relies on the support of dedicated members like you. Join NCIA today to access exclusive resources, stay informed about the latest industry developments, and be part of a community committed to driving positive change in the cannabis industry.
Supporting advocacy efforts is integral to driving meaningful change in the cannabis industry. By becoming an NCIA member, you’re not just investing in your business’s success; you’re also supporting initiatives that shape the future of the industry. Together, we can amplify our collective voice and effect tangible change.
As we conclude this recap of our insightful session on Schedule III and Section 280E, we’re thrilled to announce the next episode in NCIA’s #IndustryEssentials multi-part webinar series: “Committee Insights: Advancing Cannabis Science: Research Opportunities and Challenges Post-Rescheduling.” Led by our esteemed Scientific Advisory Committee, this episode promises to explore the exciting realm of scientific research and consumer safety in the wake of cannabis rescheduling.
Join us for an engaging discussion with industry experts, gain valuable insights, and shape the future of cannabis science and consumer safety. Register now to reserve your spot and be part of the conversation!
Navigating the Cannabis Industry: Leveraging Data and News for Success
In the ever-evolving landscape of the cannabis industry, staying ahead of the curve is essential for businesses looking to thrive. With the National Cannabis Industry Association (NCIA) providing exclusive access to valuable resources and partner discounts, entrepreneurs have a powerful toolkit at their disposal. In this blog, we’ll delve into the insights shared by industry experts during a recent NCIA #IndustryEssenitals webinar, focusing on the importance of leveraging data analytics and news aggregation to drive growth and navigate industry challenges.
Understanding Market Trends with New Frontier Data:
Amanda Reiman, an expert in data-driven decision-making, emphasized the critical role of market insights provided by New Frontier Data. She highlighted the significance of identifying trends, opportunities, and challenges within the cannabis industry. By leveraging data analytics, businesses can make strategic decisions to optimize marketing efforts, enhance product offerings, and improve overall performance. Exclusive member benefits offered by New Frontier Data provide NCIA members with access to invaluable resources, empowering them to stay ahead of the competition.
Driving Growth with Data-Backed Strategies and BDSA:
Lexie Barton expanded on Amanda’s insights by focusing on the practical applications of data analytics, particularly through BDSA. She discussed the importance of optimizing sales strategies and harnessing the power of data to inform product innovation, pricing strategies, and market expansion. By maximizing sales with BDSA’s insights, NCIA members can gain a competitive edge and drive business growth in a rapidly evolving market.
Meeting Information Needs with Cannabis NewsHub:
Samantha Hobbs shed light on the role of Cannabis NewsHub in meeting the information needs of cannabis businesses. By centralizing industry news and delivering tailored updates directly to businesses, Cannabis NewsHub streamlines the process of staying informed and ahead of industry developments. With access to the latest news and updates, businesses can anticipate challenges, identify opportunities, and adjust their strategies accordingly.
Optimizing Business Decision-Making with NCIA:
Aaron Smith, Co-Founder & CEO of NCIA, underscored the importance of leveraging professional resources and strategic partnerships to optimize business decision-making processes. He emphasized the value of NCIA membership in driving sustainable growth and success within the cannabis industry. By accessing exclusive partner discounts and resources, NCIA members can make informed decisions, mitigate risks, and capitalize on emerging opportunities.
Conclusion:
In conclusion, the insights shared by industry experts during the most recent NCIA #IndustryEssentials webinar highlight the critical role of data analytics and news aggregation in navigating the complexities of the cannabis industry. By leveraging tools provided by partners like New Frontier Data, BDSA, and Cannabis NewsHub, businesses can make informed decisions, identify growth opportunities, and stay ahead of the competition. Additionally, NCIA membership offers exclusive benefits and resources that further empower businesses to succeed in the dynamic cannabis market. Stay informed, stay ahead, and maximize your business potential with NCIA and its esteemed partners.
Ready to dive deeper into the world of cannabis industry insights? Be sure to watch the full recording of our webinar for a comprehensive look at leveraging data and news for success in this ever-evolving market. Click the link below to access the complete program and gain access to exclusive tips, strategies, and resources tailored specifically for cannabis businesses.
Call to Action:
Ready to leverage data and news for success in the cannabis industry? Join NCIA and gain access to exclusive partner discounts and resources. Strengthen your position in the industry and unlock the tools you need to thrive in the ever-evolving cannabis market. Don’t miss out on this exclusive opportunity to maximize your business potential with NCIA and its esteemed partners.
Policy Matters: High Stakes in the Heartland – Missouri’s Cannabis Landscape
Unlock the full recording of our must-watch #IndustryEssentials webinar series, “Policy Matters,” where we take you inside the evolving world of cannabis regulation in Missouri.
In this insightful episode, we are honored to feature Amy Moore, Director of the Division of Cannabis Regulation at the Missouri Department of Health and Senior Services. With her extensive experience, Amy shares her journey as a regulator, providing an in-depth look at the challenges and triumphs in shaping Missouri’s cannabis marketplace.
What You’ll Learn:
The evolution of Missouri’s cannabis market
Regulatory strategies implemented by the Division of Cannabis Regulation
Key insights leading up to our Missouri Stakeholder Summit
Whether you’re preparing for the upcoming Missouri Stakeholder Summit or seeking to understand the regulatory dynamics that could impact your business, this webinar is your go-to resource.
Don’t miss out—gain the knowledge that could shape the future of cannabis regulation in Missouri.
Watch Now and stay ahead of the curve!
Navigating Missouri’s Stringent Cannabis Testing Requirements: A Deep Dive
When it comes to cannabis testing requirements, Missouri absolutely lives up to its nickname as the Show Me State, requiring its licensed cannabis businesses to run a wide series of tests to prove the cannabis they are sending to store shelves is safe.
As a relatively new state to join the cannabis industry, with voters approving medical marijuana in 2018 and recreational cannabis in 2022, Missouri has had the benefit of watching several other states develop programs ahead of it and its testing regulations reflect that.
In Missouri, both flower and pre-rolls, for example, must be tested by one of 10 state certified labs for:
Moisture Content and water activity;
Residual solvents and processing chemicals;
Residual pesticides;
Microbial impurities;
Mycotoxins;
Foreign materials;
The “big four” heavy metals (arsenic, cadmium, lead and mercury) + Chromium;
Cannabinoids; and
Terpenes (if requested).
The majority of these tests are designed to protect consumers from potential dangers hidden in their cannabis products, so it is important that any rolling paper or pre rolled cones you buy – even for personal use – should pass these tests.
For example, moisture content and water activity can point to the potential for mold growth. Any water activity above 0.70 Aw creates the conditions for mold to grow, which can be harmful if consumed, which is why Missouri, like many states, caps water activity at 0.65 Aw in flower and pre-rolls.
Missouri, however, is one of a handful of states that also include chromium in their testing regiment, another dangerous heavy metal. Once chromium reaches the bloodstream, chromium can damage the kidneys, liver, and blood cells with the potential for renal and liver failure if untreated. So, you can see why states have begun adding it to their testing requirements.
MICROBIALS AND MYCOTOXINS
While heavy metals are dangerous, microbials and mycotoxins pose the greatest risk to human health.
Mycotoxins are a toxic compound produced by molds, such as Aspergillus, and can suppress the immune system and cause liver damage. Missouri requires testing for two classes of mycotoxins, Aflatoxins and Ochratoxin A. Both have properties that can alter DNA and potentially cause the formation of cancer cells. Testing for mycotoxins help ensure cannabis products are safe for human consumption.
Missouri regulations require a total mycotoxin concentration of less than 20 micrograms per kilogram for cannabis to receive a passing mark.
Missouri also requires testing for other microbials like Pathogenic E. Coli, Salmonella and Pathogenic Aspergillus Species including A. fumigatus, A. flabus, A. niger and A. terreus.
PESTICIDES
Missouri also requires testing for residual pesticides and other chemicals. The state allows some pesticides to be used on cannabis – tracked by the Missouri Department of Agriculture’s Pesticide Program – but cultivators are required to report in the state track and trace system all pesticides, fertilizers and other chemicals applied to the plants, as well as all the ingredients contained in each of those.
State law requires tests for 61 chemicals and 20 residual solvents, with actionable limits, and foreign matter screening.
LABELING LAWS
Missouri also has a very strict labeling law for its cannabis packaging that requires specific information in a specific order, beginning with the state’s diamond THC logo, the letter “M,” all ingredients, license number of the producer and where the products passed their testing, as well as the track-and-trace number for the samples and the THC potency, among others.
LAB LICENSING AND LAB SHOPPING
Aside from specifics for testing, the Show Me State goes even further when it comes to which labs can be used and how those labs get licensed.
Missouri law contains provisions for exactly who at the labs can conduct the tests, requiring the labs to be employ a laboratory director with a degree in a natural science and at least five years’ experience in a regulated lab environment or a degree in “another applicable field” with 10 years’ experience. It also requires the person performing the test to have a bachelor’s degree in natural science and at least two years of lab experience.
But recent updates to Missouri’s regulations go even a step further than most states in an attempt to stop the process known as “lab shopping” to get desired results. Normally aimed at trying to limit THC potency inflation, the new law requires producers and labs to submit their samples to other labs so results can be compared.
For example, the new regulations say that up to 10 times per year, the state will require one lab to pick up samples from another lab and re-perform a test. The state will review all the results to make sure they have similar potency results and to see if one lab is passing samples for pesticide residue while another one is failing it.
According to Custom Cones USA Compliance Manager André Bayard, while the main focus of the new law appears to be THC potency inflation, which, of course, is a major driver of sales for cannabis companies, that too is a safety concern, especially in the medical market or for low-dose patients and consumers.
ENSURING PRE-ROLL COMPLIANCE
As noted, the Missouri law requires all products be tested in their final form, including pre-rolls. That means even if your cannabis is clean, your products can fail and be destroyed if your rolling papers are not.
Because of that, manufacturers need to protect themselves – and their customers – by carefully selecting suppliers. After all, a study from California’s SC labs found that 11% of rolling papers they tested would fail that state’s testing regiment, which doesn’t even include Chromium, and that 90% of rolling papers contained heavy metals with more than 8% containing them at a rate above the allowable limits.
Pre-roll manufacturers in particular need to pay attention to their suppliers and make sure that the company from which they buy their paper takes testing as seriously as they do. Bayard recommends making sure your pre-roll paper supplier is a partner.
“Find a supplier that is willing to work with you and do the due diligence to make sure you know ahead of time whether your paper will pass,” Bayard says.
Bayard notes that when contacted by a manufacturer in Missouri in 2022 about chromium content causing failures, Custom Cones USA sent samples ahead of time so the manufacturer could pack and test a handful of their completed pre-rolls to make sure the products were clean before committing to a full order.
If your pre-roll supplier is not willing to go through that step, it may be a red flag.
Testing failures can be expensive, so make sure you not only keep up on the latest changes to your states regulations, but also work with a Pre-Roll Expert to get the cleanest, best-tested pre rolled cones you can find. And always ask to see COAs.
Engage with Missouri’s Cannabis Community: Join Us at the Summit!
As you navigate through Missouri’s stringent cannabis testing requirements, it’s imperative to stay informed and engaged with the latest developments in the industry. To further your understanding and involvement, consider joining us at the upcoming Missouri Stakeholder Summit, hosted by the National Cannabis Industry Association (NCIA). The Missouri Stakeholder Summit serves as a crucial platform for industry leaders, policymakers, and stakeholders to convene and discuss the pressing issues shaping Missouri’s cannabis landscape. Each event will host a wide range of programming including interactive panel discussions, intimate fireside chats, and live Q&A to provide participants the opportunity to make the Voice of Main Street Cannabis heard by key decision makers.
All industry professionals are invited; NCIA members attend free and have exclusive access to Q&A sessions. From regulatory updates to market insights, this summit offers a comprehensive view of the opportunities and challenges ahead. From regulatory updates to market insights, this summit offers a comprehensive view of the opportunities and challenges ahead.
Ready to elevate your involvement in the cannabis industry? Explore the benefits of NCIA membership and gain access to exclusive resources, networking opportunities, and advocacy initiatives. Join online today or schedule a meeting with our team to learn more about membership and how NCIA can support your professional growth and business success.
Whether you’re a seasoned professional or new to the industry, the summit provides invaluable networking opportunities, expert panels, and discussions tailored to meet your needs. It’s a chance to connect with like-minded individuals, gain strategic knowledge, and contribute to the growth of Missouri’s cannabis market. Don’t miss out on this unique opportunity to be part of the conversation that drives change and innovation in Missouri’s cannabis industry. Register now to secure your spot and take an active role in shaping the future of cannabis in the Show Me State!
Webinar Release: Positioning for Prosperity – Insurance Essentials for Social Equity Awardees
In our ongoing commitment to providing timely and essential education to the cannabis industry, the National Cannabis Industry Association (NCIA) recently hosted a thought-provoking webinar titled “Positioning for Prosperity: Insurance Essentials for Social Equity Awardees.” In collaboration with NCIA’s Risk Management & Insurance Committee (RMIC), this webinar delved into the critical considerations surrounding insurance needs within the cannabis industry.
Led by a panel of esteemed experts, the discussion navigated the intricate landscape of insurance coverage, specifically tailored to address the needs of social equity awardees. From exploring the advantages and disadvantages of social equity programs to addressing challenges such as information inaccessibility and skyrocketing premiums, the webinar provided valuable insights for businesses seeking to navigate the insurance landscape.
Key topics included:
Defining social equity awardees and discussing their advantages and disadvantages in the industry and market.
Exploring the unique coverage needs for social equity awardees.
Examining real-life examples of what has and hasn’t worked in the cannabis industry regarding insurance coverage.
Understanding the differences between state requirements and optimal coverage for cannabis businesses.
Exploring other financial requirements that help social equity awardees establish sustainable companies.
Throughout the webinar, participants gained insights into how to position their businesses for success in the evolving cannabis landscape while gaining a deeper understanding of the vital role organizations like CANNRA play in progressive policy improvement.
Missed the webinar? Don’t worry! You can watch the full recording on our YouTube channel below.
At NCIA, we remain committed to providing valuable resources, education, and insights to empower businesses and individuals within the cannabis industry. Stay tuned for more updates, webinars, and events designed to support your journey in the cannabis space.
Thank you to our panelists, attendees, and the RMIC for their contributions to making this webinar a success.
Navigating the New Normal: A Regulator’s Outlook on Federal Momentum | 10.26.23 | Policy Matters
Welcome to the second edition of our new Policy Matters series, dedicated to unraveling the intricate world of regulatory and policy dynamics within the cannabis industry. In the previous edition of Policy Matters, we had the privilege of hosting Will Tilburg from the Maryland Cannabis Administration, who shared his perspectives into the strategic aspects of designing a thriving cannabis market while meeting regulatory standards. This month, we continue our exploration into the world of cannabis policy, focusing on the potential implications of federal cannabis reform and recommended preparations for various stakeholders, including regulators, industry players, and the public.
In this #IndustryEssentials webinar series, we aim to provide Main Street cannabis operators valuable insights from regulators, industry experts, and advocates to keep you informed about the latest developments and challenges in the ever-evolving cannabis landscape. This article provides a comprehensive summary of the discussions, speaker highlights, and key takeaways from the event, continue reading and view the full recording below.
John Hudak: A Transition from Academia to Public Service
Our guest speaker for October’s edition of “Policy Matters”, John Hudak, serves as the Director of the Office of Cannabis Policy in Maine, a role he took on after serving as a senior fellow at the Brookings Institution. His background is an interesting blend of academic expertise and hands-on experience in state government and he touched on how this transition reflects his strong commitment to public service and his desire to implement real-world policies.
Hudak emphasized the challenges of engaging with industry stakeholders and regulators, even from a state perspective. He highlighted the importance of good public policy that not only benefits the cannabis industry but also safeguards the well-being of the people of Maine. His insights underscored the need for a balanced approach in crafting cannabis policies that are in the best interest of all stakeholders.
The Significance of Cannabis Rescheduling
The recent rescheduling recommendations of cannabis was discussed as great momentum in the right direction on the path to federal cannabis reform. While it wasn’t expected to lead to full descheduling, rescheduling still represents a positive step forward. This shift in classification may offer some much-needed tax relief for an industry that has faced considerable financial challenges, especially for smaller businesses.
The change in cannabis classification may also prompt a reevaluation of state-level business deductions, aligning them more closely with federal tax codes. Additionally, it was noted that the optics of President Biden initiating the rescheduling process were noteworthy, given his history on drug policy. However, it was emphasized that federal legalization should only occur when the government is well-prepared to manage the potential repercussions to avoid any undesirable outcomes.
Congressional Challenges to Federal Cannabis Reform
Michelle Rutter Friberg, NCIA’s Director of Government Relations, joined the discussion this month, shedding light on the challenges related to congressional action or inaction in the context of federal cannabis reform. She raised concerns that Congress might view its work as done if rescheduling takes place and that the historical difficulty in reaching a consensus on various issues within Congress poses a potential threat to further federal cannabis reform.
Years of congressional inaction have led to market consolidation, impacting small businesses and creating disparities within the industry. These insights highlighted the inherently political nature of the current reform process. Michelle also mentioned President Biden’s campaign promise to reform cannabis policies, which continues to influence the ongoing debate.
Balancing Politics and Cannabis Policy
Khurshid Khoja, NCIA’s Policy Co-Chair & Co-Host of Policy Matters, contributed his perspective to the discussion, recognizing that rescheduling is indeed a positive step as it acknowledges the medical uses of cannabis. He emphasized that the cannabis industry would welcome any form of tax relief that may come with rescheduling. The speakers collectively explored the fears and expectations related to rescheduling and its potential impact on the industry. They also discussed the importance of cautious regulation and research-backed medical claims while stressing the importance of protecting small businesses and ensuring they are not left behind during the reform process.
John Hudak shared further insights into the importance of collaboration between federal and state regulators with the challenges of shared jurisdiction between federal and state authorities being highlighted, particularly concerning public health and safety. Hudak emphasized the need for guidance or regulations from the Food and Drug Administration (FDA) to provide clarity for both regulators and the industry. The benefits of standardization in labeling and packaging across states were also discussed, with an emphasis on reducing burdens for small cannabis businesses.
Hudak’s approach to preparing Maine for federal legalization differs from how other states might approach it. Rather than rushing to issue new rules or guidance based on assumptions, he emphasized the importance of crafting contingency plans. Such plans would allow states to be ready for various scenarios post-federal legalization, rather than being caught flat-footed. He explained that they are considering unknown, known, and nearly guaranteed aspects of federal legalization to ensure they are well-prepared.
Hudak cited the importance of labeling standards, as these are among the regulatory aspects that are likely to be implemented. Drawing from past experiences with federal reforms, such as the Affordable Care Act and HIPAA, he illustrated the significance of state preparation and the impact it has on successful implementation.
Audience Question and Opportunities for Industry Engagement
An audience question by Tucker Holland (principal of Blooming Member Entourage Cannabis, an Oregon infused product manufacturer) raised the necessity of federal descheduling leading to federal re-regulation. The question emphasized that states already regulate their individual markets, and there was interest in exploring a pathway where federal responsibility might be pushed to the states.
In response, the speakers discussed the complexities of the issue and the need for effective collaboration between state and federal regulators. While the specifics of such collaboration remain a work in progress, the role of state regulators remains pivotal in shaping the future of cannabis regulation.
Conclusion
In conclusion, the insights shared during this Policy Matters webinar shed light on the complexities and challenges associated with federal cannabis reform. From the significance of rescheduling to the impact of taxation and market consolidation, the conversations between the panelists highlighted the need for cautious and well-informed policies. The discussions also underscored the importance of industry engagement and active participation in shaping federal regulations. This is a pivotal moment for the cannabis industry, and it is clear that industry stakeholders have a role to play in influencing the path forward.
The journey towards federal cannabis reform is an ongoing process, and it’s imperative that industry stakeholders, advocates, and regulators work together to navigate the challenges and opportunities that lie ahead. With your commitment to informed and balanced policies, we can continue to move forward, fostering an environment that benefits all members of the cannabis community. Join NCIA today to be a part of this influential movement.
Watch the Full Discussion on YouTube
If you’re eager to dive deeper into this insightful conversation, we encourage you to watch the full webinar on NCIA’s official YouTube channel. This video provides an opportunity to absorb every detail, gain a comprehensive understanding of the issues discussed, and explore the valuable insights offered by our panel of experts.
The Path Forward
As the cannabis industry continues to evolve and adapt, staying informed and engaged remains crucial. Opportunities like the NCIA’s committee applications, industry events, and educational sessions provide avenues for individuals and businesses to get involved and make their voices heard.
Last month, we had the opportunity to gain valuable insights from Will Tilburg of the Maryland Cannabis Administration, shedding light on the challenges and successes of of launching an adult-use cannabis market in record time. This month, we’ve explored the critical topic of preparing for federal cannabis reform, its potential implications for various industry stakeholders and the nuanced aspects surrounding it.
Stay tuned for future editions of Policy Matters, where we’ll continue to tackle the most pertinent issues in the cannabis industry, providing you with valuable insights and fostering dialogue on the policies that shape the future of cannabis in the United States. Your voice in the development of common sense policy matters, and together, we can make a difference.
Welcome to the National Cannabis Industry Association’s (NCIA) insightful webinar recording, “Committee Insights: Where Risk Assessment Integrity Meets Policy.” Hosted by NCIA’s Cannabis Manufacturing Committee and originally broadcast on Tuesday, October 24th, 2023, this session provided a deep dive into the complex but critical intersection of cannabis industry risk assessment and policy development. This blog post will highlight key discussions and insights from the panel, offering a condensed overview of the critical issues explored during the webinar, continue reading and view the full recording below.
Comprehensive Risk Assessment for Vape Product Manufacturers
The panelists underscored the importance of thorough risk assessments for vape product manufacturers, especially in the highly regulated cannabis and hemp sectors. The conversation centered on essential areas of concern, including the potential for fraud, liability, and the significance of ingredient selection, particularly terpenes. Material of construction and employee safety were also key factors that were addressed.
Hardware Risks and Due Diligence
The webinar uncovered the risks associated with hardware components and vendors. It shed light on the due diligence required when introducing new vape products, which includes vetting hardware suppliers and partners. Addressing concerns related to shrinkage and theft was another significant aspect of risk management. Additionally, the panel stressed the importance of setting safety guidelines based on industry standards such as ASTM.
Safety Standards and Ingredient Considerations
The discussion dived into the implications of safety standards, especially ASTM, and their role in determining acceptable safety levels within the industry. The panel emphasized the importance of ingredient considerations, particularly in preventing E-cigarette or Vaping Product Use-Associated Lung Injury (EVALI). Risk assessment for ingredients was a major focus, as it plays a critical role in product safety and integrity.
Implications of Fraud and Counterfeit Products
A crucial point discussed was the far-reaching implications of fraud, counterfeit products, and negligence within the cannabis and hemp industry. The panelists delved into the legal considerations when unknowingly selling dangerous products. They also highlighted the industry’s ongoing struggle with counterfeiting and the need for robust prevention measures to protect consumers.
Regulatory Challenges and Industry Growth
The webinar touched upon the challenges of navigating regulatory environments for both regulators and operators. The panelists emphasized the need for striking a balance between regulation and innovation to ensure the industry’s growth while maintaining product safety. The conversation also addressed the evolving landscape of marketing and advertising regulations, emphasizing the need for clear guidance in these areas.
Essential Insights from Industry Experts
Learn more about our distinguished panel of NCIA member experts including hardware & product manufacturers, toxicologists, legal professionals and regulators each of which brought their unique perspective and insights to our comprehensive exploration.
This is the third of five in a multi-part series of #IndustryEssentials webinars. You can watch Parts I & II plus register Part IV & V at the links below.
Episode I – Committee Insights: Mapping the Vape Landscape: Where are We and Where Do We Go from Here?” – [Watch Here]
Episode II – Committee Insights: Cannabis Vaping – Avoid Being an Easy Target – [Watch Here]
Episode IV: Committee Insights: Cannabis Vaping – Beyond the Pen – [Date & Time TBD]
Episode V: Committee Insights: Dabinar Special Edition – Dabbing 101 – [Date & Time TBD]
For access to our full webinar recording archive, featuring 100+ episodes from five separate recurring series, head here.
Join NCIA and Be Part of Future Speaking Opportunities
If you’re eager to share your expertise and insights with our dynamic cannabis community, we encourage you to consider becoming a member of the National Cannabis Industry Association (NCIA). Our member-led committees, such as the Cannabis Manufacturing Committee, offer numerous opportunities to participate in our webinars and events as a speaker. By joining NCIA, you’ll be well-positioned to become a part of our expert panelists in the future. Don’t miss the chance to contribute to meaningful discussions that help shape the cannabis industry.
Learn more about NCIA membership and the benefits it offers here.
Explore Sponsorship Opportunities
For those interested in sponsoring future webinars and events to reach a broad and engaged audience within the cannabis industry, we invite you to fill out our sponsorship inquiry form. Our team will be happy to provide you with more details on how you can collaborate with NCIA to promote your brand and engage with our community.
Your involvement with NCIA opens doors to a wealth of opportunities in the ever-evolving cannabis industry. We look forward to having you as part of our vibrant community!
A Valuable Resource for Industry Professionals
NCIA’s “Committee Insights” series serves as a comprehensive resource for cannabis and hemp industry professionals and this episode offers valuable insights into the critical role of risk assessment and policy development in shaping the future of cannabis operations. By exploring our full recording, you’ll gain invaluable insights and stay informed about the latest developments in the ever-evolving cannabis industry.
Stay Connected with NCIA
Thank you for being a part of our dynamic cannabis community. NCIA’s #IndustryEssentials webinar series is our premier digital educational platform, offering timely and essential insights precisely when you need them. This session is part of our Committee Insights series, produced in collaboration with our member-led committees. Sign up today to receive more industry insights and updates to stay ahead in the evolving cannabis and hemp sectors.
Cannabis Vaping – Avoid Being an Easy Target | 10.12.23 | NCIA #IndustryEssentials Webinar
In the ever-evolving cannabis industry, staying informed and educated is paramount. The National Cannabis Industry Association (NCIA) understands this need and presents its premier digital educational series, the #IndustryEssentials webinar series. The latest installment, “Committee Insights: Cannabis Vaping – Avoid Being an Easy Target” is a deep dive into the world of cannabis manufacturing risk management.
A Changing Landscape: The 2019 EVALI Outbreak
The year 2019 brought a significant shift in the cannabis vaping landscape with the EVALI outbreak. This crisis stirred up the cannabis vape industry, causing some businesses to become easy targets in the court of public opinion. The incident prompted a critical need for companies to design safer products and expand their due diligence testing during the product development phase. With vaping remaining a popular form of consumption, particularly among GenZ users, the industry found itself at a crossroads.
A Journey into Risk Management
NCIA’s second vaping webinar of 2023 addressed these challenges head-on, gathering industry experts to discuss what their companies are doing to avoid being easy targets, prevent another EVALI-like crisis, and navigate an industry in the absence of regulations. The session focused on key learning objectives, including risk assessment and due diligence protocols, best practices and manufacturing standards during product development, youth prevention strategies, and insights gained from emissions testing of vape products.
A Source of Valuable Insights
This webinar was a source of invaluable insights, covering risk management strategies that are crucial for manufacturers in the cannabis industry. It highlighted the significance of risk assessment and due diligence protocols, enabling businesses to determine consumer exposure limits. The presentation of best practices and manufacturing standards helps set industry benchmarks, ensuring product quality and safety. Addressing youth prevention strategies is essential for responsible cannabis consumption. Finally, the discussion on emissions testing of vape products provides information for creating a safer industry.
Becoming Part of the NCIA Community
If you found this webinar valuable and wish to access more educational content and networking opportunities, consider becoming a member of the National Cannabis Industry Association (NCIA). Membership opens doors to a wealth of resources and opportunities in the cannabis industry.
Sponsorship Opportunities
For businesses looking to gain visibility in educational programs and webinars like this one, NCIA offers sponsorship opportunities. Partnering with NCIA can help companies establish a presence in the industry and connect with professionals and enthusiasts.
In conclusion, NCIA’s commitment to providing timely, engaging, and essential education is evident in its #IndustryEssentials webinar series. The “Committee Insights: Cannabis Vaping – Avoid Being an Easy Target” webinar brings us closer to understanding the risks and challenges faced by manufacturers in the cannabis industry. As the industry continues to evolve, staying informed and educated is key to success.
Future Editions of this Series
This is the second of five in a multi-part series of #IndustryEssentials webinars. You can watch Parts I & III plus register Part IV & V at the links below.
Episode I – Committee Insights: Mapping the Vape Landscape: Where are We and Where Do We Go from Here?” – [Watch Here]
Episode III – Committee Insights: Where Risk Assessment Integrity Meets Policy –[Watch Here]
Episode IV: Committee Insights: Cannabis Vaping – Beyond the Pen – [Date & Time TBD]
Episode V: Committee Insights: Dabinar Special Edition – Dabbing 101 – [Date & Time TBD]
Stay tuned as more details surrounding Parts IV & V will be announced soon!
Thank you for reading, and stay tuned for more updates from NCIA, your trusted source for cannabis industry insights and knowledge.
Mapping the Vape Landscape | 10.2.23 | Committee Insights
Welcome to the recorded session of our webinar, “Mapping the Vape Landscape: Where are We and Where Do We Go from Here?” In this engaging discussion, hosted by NCIA’s Cannabis Manufacturing Committee, we dive into the dynamic world of vaping in the cannabis industry.
NCIA’s #IndustryEssentials webinar series is our premier digital educational platform, offering timely and essential insights when you need them most. This session is part of our Committee Insights series, produced in collaboration with our member-led committees.
Vaping is often hailed as the future of our industry, providing potent doses at a lower cost. However, it’s also a topic of controversy. This webinar features a distinguished panel that covers all aspects of the vaping vertical, from industry leaders to experts in hardware and safety standards. Whether you’re a retailer, brand representative, manufacturer, or a newcomer, this discussion addresses misconceptions, spotlights current trends, and prepares you for the future of vaping.
Learning Objectives:
• Explore the current categories of devices, products, and formulations.
• Discover strategies to optimize the user experience in a rapidly evolving market.
• Gain insights into the regulations shaping the vaping industry.
• Peer into the future: standards, trends, and potential game-changers.
Panelists:
Tucker Holland
Co-founder, CFO and Processing Director Entourage Cannabis
Darwin Millard
Chief Scientific Officer Final Bell
Join us in this exploration of the vape landscape and gain valuable insights from industry experts. Watch the recording to enhance your understanding of the cannabis industry’s most polarizing yet transformative segment.
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This is the first of five in a multi-part series of #IndustryEssentials webinars. You can watch Parts II & III plus register Part IV & V at the links below.
Episode II – Committee Insights: Cannabis Vaping – Avoid Being an Easy Target – [Watch Here]
Episode III – Committee Insights: Where Risk Assessment Integrity Meets Policy –[Watch Here]
Episode IV: Committee Insights: Cannabis Vaping – Beyond the Pen – [Date & Time TBD]
Episode V: Committee Insights: Dabinar Special Edition – Dabbing 101 – [Date & Time TBD]
Stay tuned as more details surrounding Parts IV & V will be announced soon!
Service Solutions | 9.20.23 | Seed to Sprout – Defining an Engaging Employee Experience for Retention & Performance
In this thought-provoking #IndustryEssentials webinar, we delve into a crucial topic for cannabis businesses: “Defining an Engaging Employee Experience for Retention & Performance”
In the ever-evolving landscape of the cannabis industry, businesses face unique challenges, including high turnover rates and low employee engagement. These issues can have a significant impact on a company’s bottom line. Did you know that replacing an entry-level worker can cost up to 50% of their salary, while for high-level workers, this figure can skyrocket to 400%?
In this webinar, we explore how prioritizing the employee experience is not only a strategy to maintain your workforce but also a means to provide a quality work-life balance for your staff. Our expert speakers discuss the value of the employee experience, immediate strategies for improvement, top trends to incorporate into your strategy, and how to develop a framework for success.
Whether you’re a seasoned cannabis industry professional or just beginning your journey, this webinar provides valuable insights that can transform your approach to employee engagement. NCIA’s #IndustryEssentials webinar series is your premier source for timely, engaging, and essential education when you need it most.
Stay connected with NCIA for more insightful webinars and industry updates. Subscribe, like, and hit the notification bell to never miss our valuable content. Join us in redefining the employee experience and boosting your business’s success. Watch the full webinar now and take the first step towards a more engaged and productive workforce.
America in Miniature Goes Green: Maryland’s Journey to Adult-Use Cannabis | 9.7.23 | Policy Matters
Introducing “Policy Matters” – an insightful new #IndustryEssentials webinar series dedicated to unraveling the intricate world of regulatory and policy dynamics within the cannabis industry. As the cannabis landscape continues to evolve, staying informed about the latest regulations and policies impacting Main Street cannabis operators is crucial for success. Join us for a series of engaging discussions where regional regulators, industry leaders, legal experts, and policy influencers come together with NCIA leadership to shed light on the most pressing issues facing cannabis professionals.
Are you curious about the intricacies of launching an adult-use cannabis market in record time? In the debut episode of our new Policy Matters webinar series we delved into the strategic aspects of designing a thriving cannabis market while meeting regulatory standards. In this exclusive session, NCIA Policy Co-Chairs Khurshid Khoja and Michael Cooper were joined by Will Tilburg, Director of the Maryland Cannabis Administration and President of the Cannabis Regulators Association, to explore invaluable insights into the objectives that drive cannabis regulators and the pitfalls they strive to avoid. Discover the pressing enforcement challenges that are top of mind for cannabis regulators in 2023 and gain a clear understanding of the evolving landscape.
Don’t miss this opportunity to gain an understanding of how policy matters in the fast-paced cannabis sector. Stay informed, stay ahead, and be part of the conversation that’s shaping the future of cannabis policy. Tune in today and empower yourself with the knowledge to thrive in this dynamic industry.
03:40 – Launching an Adult Use Market in 2023 | Were there lessons from the existing medical market and others around the nation that you identified as important, both success stories and pitfalls to avoid?
07:23 – Launching an Adult Use Market in 2023 | What allowed you to move so efficiently and what lessons would you highlight for industry and regulators in new markets rolling-out in the future?
12:48 – Launching an Adult Use Market in 2023 | What are some priorities you have for the months ahead?
16:55 – Launching an Adult Use Market in 2023 | What advice would you give to future regulators on building relationships within the executive branch to prioritize these issues?
22:20 – Social Equity | Can you talk about reserving the first round of adult-use cannabis licenses exclusively for social equity applicants and other recent milestones or developments working with the Office of Social Equity?
28:56 – Social Equity | How has Maryland worked to make its medical cannabis industry more equitable and ensure these goals aren’t undercut as they have been with similar licensing preferences in other states?
34:04 – Enforcement | How did the state set up its enforcement plan? How do you strike a balance in a new market between a complete absence of enforcement and protecting public health?
37:34 – Enforcement | What are some key enforcement priorities for you looking ahead?
41:40 – CANNRA | Can you talk about the Cannabis Regulators Association (CANNRA) purpose, membership, and goals?
44:39 – CANNRA | What are the priorities or goals for your tenure as CANNRA president?
47:20 – Federal Reform & Regulation | What is Maryland doing to address the hemp-derived cannabinoids issue as it relates to protecting public health and unfair competition with adult-use cannabis licensees?
52:10 – Federal Reform & Regulation | As a state regulator, how did you receive the recent HHS recommendation for rescheduling of cannabis to Schedule III?
56:34 – Federal Reform & Regulation | What is the optimal division of labor between state and federal government if cannabis is completely descheduled in the future?
Cracking the Code – Unraveling the Challenge of Coverage for Novel Cannabinoids | 8.8.23 | Committee Insights
NCIA’s #IndustryEssentials webinar series is our premier digital educational platform featuring a variety of interactive programs allowing us to provide you timely, engaging and essential education when you need it most.
In this edition of our Committee Insights series, originally aired on August 8, NCIA’s Risk Management & Insurance Committee explored why insurance for novel cannabinoids can be such a challenging code to crack. Our discussion will help you navigate through liability and legislative loopholes, offering a clearer understanding of your exposure, while considering the patchwork of federal and state requirements.
In case you missed it, in conjunction with this session they’ve also released the third edition of their “Risk Management and Insurance Manual” specifically exploring this subject, which is available for download on NCIA’s website here: https://bit.ly/3OvGtag
You’ll leave with a better understanding of how unravel the complexities of insuring novel cannabinoids and equipped with the knowledge needed to make informed decisions regarding your insurance coverage. Whether you’re a cannabis business owner, a risk manager, an insurance professional, or anyone with an interest in this topic, this webinar will provide you with practical takeaways to safeguard your products, operations, and workforce.
Tune in as we crack the code to safeguard your products, operations and workforce!
Committee Insights | 7.26.23 | Concepts for Regulatory Consideration – Shifting the Conversation from “Cannabis vs. Hemp” to “The Cannabinoids”
NCIA’s #IndustryEssentials webinar series is our premier digital educational platform featuring a variety of interactive programs allowing us to provide you timely, engaging and essential education when you need it most.
In this edition of our NCIA Committee Insights series, originally aired on July 26, we were joined by leading cannabinoid product manufacturers and Cannabis Regulators Association (representing cannabis and hemp regulators across more than 40 states and U.S. territories) to examine different approaches to regulating consumer products containing cannabinoids across the US and discuss the potential for harmonized regulations in the future.
Regulating the cannabinoids is difficult enough, but throw in the challenges associated with cannabinoids derived from marijuana or hemp and the challenges can get even more complicated. Not to mention the debate between intoxicating and non-intoxicating cannabinoids and how to address the risks to public health and safety from these different types of cannabinoids. Then you have the proverbial “cherry on top” with how to address cannabinoids, both naturally occurring and novel, being produced by genetically modified organisms and scientists in the lab. There has got to be a logical way to solve this problem.
One potential solution is shifting the conversation away from cannabis vs. hemp and toward the constituents of concern, the cannabinoids. By regulating the cannabinoids, we can focus the debate on what matters, how to regulate cannabinoid ingredients in a way that is proportional to the level of risk to public health and safety. This ensures we have both a functional and vibrant cannabinoid products market and the means to protect consumers.
Learning Objectives:
• Learn about the similarities and differences between marijuana and hemp regulations for consumer products containing cannabinoids
• Find out what a consumer product containing cannabinoids is and how this concept can be used to promote more common sense regulations
• Listen to new perspectives on the challenges facing the cannabinoid-containing consumer products space and how to more efficiently regulate this marketplace
Curious about the complex world of cannabinoid regulation? Sit back and settle in for an insightful webinar where we delve into the challenges (and solutions!) surrounding cannabinoids derived from marijuana and hemp.
Safeguarding Consumers in the Cannabinoid Product Landscape (Part III):
Know Your Hazards – Occupational Health and Safety Considerations in Cannabinoid Ingredient Manufacturing (Part IV): https://bit.ly/3rEUeKP
Committee Insights | 7.13.23 | Know Your Hazards – Occupational Health and Safety Considerations in Cannabinoid Ingredient Manufacturing
NCIA’s #IndustryEssentials webinar series is our premier digital educational platform featuring a variety of interactive programs allowing us to provide you timely, engaging and essential education when you need it most.
In this edition of our NCIA Committee Insights series, originally aired on July 13, we were joined by members of NCIA’s Cannabis Manufacturing, Scientific Advisory and Hemp Committees for an in-depth discussion highlighting the occupational health and safety considerations to make during the manufacture of cannabinoids and provide recommendations for mitigating risk.
There is no mistaking that manufacturing cannabinoids is here to stay. It is more and more prevalent to see historically plant/naturally derived bulk ingredients being manufactured in a controlled environment in the lab or through innovative processes like precision fermentation. It is likely that bulk ingredient manufacturing of cannabinoids will go this route too.
For cannabinoids like HHC, that do not exist naturally in the plant or in high enough quantities to be commercially viable for extraction, it is most certainly the case that manufacture of these compounds will occur in the lab. To produce these compounds safely, we can luckily look toward existing regulations and occupational health and safety guidelines for producing novel ingredients for use in foods and non-foods.
Learning Objectives:
• Recognizing common occupational safety hazards associated with manufacturing cannabinoids and recommendation to mitigate these hazards
• Learning the different occupational safety considerations between isolation and purification of naturally occurring cannabinoids and the manufacture (synthesis) of cannabinoids in the lab
• Understanding the special safety considerations that processes like hydrogenation and others have and why these are critical to mitigating liability for your business
Safeguarding Consumers in the Cannabinoid Product Landscape (Part III):
Know Your Hazards – Occupational Health and Safety Considerations in Cannabinoid Ingredient Manufacturing (Part IV): https://bit.ly/3rEUeKP
Concepts for Regulatory Consideration – Shifting the Conversation from “Cannabis vs. Hemp” to “The Cannabinoids” (Part V): https://bit.ly/3P3r5AW
Committee Insights | Safeguarding Consumers in the Cannabinoid Product Landscape
NCIA’s #IndustryEssentials webinar series is our premier digital educational platform featuring a variety of interactive programs allowing us to provide you timely, engaging and essential education when you need it most.
In this edition of our NCIA Committee Insights series, originally aired on June 13, we were joined by members of NCIA’s Cannabis Manufacturing, Scientific Advisory and Hemp Committees for an in-depth discussion of the current cannabinoid testing & labeling landscape alongside complications compounding consumer safety and product manufacturing concerns.
Consumer products that contain cannabinoids are a popular new consumer product category sweeping the United States. Whether these consumer products are manufactured using cannabinoids derived from cannabis or hemp, consumers deserve to know what they are consuming.
Truth in labeling is critical to providing cannabinoid content information to a consumer so they can make an informed purchase decision and in ensuring consumer safety. However, with so many different label content requirements from state to state for consumer products containing cannabinoids, this lack of consistency can lead to potential risks to the end consumer.
This is especially true when the majority of cannabinoid product manufacturers are dependent on third-party data during product manufacturing and compliance testing. This interdependence between testing laboratories and product manufacturers makes it all the more important that label content requirements are both achievable from a manufacturing standpoint without being overly burdensome for regulators to verify and do not endanger public health and safety.
In this webinar, our panelists explored about the current state of America’s somewhat-monitored cannabinoid-product marketplace, and examined several of the issues related to cannabinoid quantification, cannabinoid content declarations, and label claim verification and how these relate to consumer safety.
Learning Objectives:
• Learn about the potential risks associated with untested, unlabeled products both for the business owner and as a consumer
• Review the current landscape of cannabinoid testing requirements, how they vary state to state and the role 3rd party labs play in the picture
• Understand the nuances with label content compliance and implications on label claims
• Explore data integrity issues preventing consumers from making informed decisions
• Share best practices for what the the industry should do, what consumers can do and what regulators need to do
Panelists:
Paul Coble
Technology Attorney
Harris Bricken Sliwoski LLP
Matthew Johnson
Vice President, Risk Services
QuadScore Insurance Services
Safeguarding Consumers in the Cannabinoid Product Landscape (Part III): https://bit.ly/3Xc9Lx6
Know Your Hazards – Occupational Health and Safety Considerations in Cannabinoid Ingredient Manufacturing (Part IV): https://bit.ly/3rEUeKP
Concepts for Regulatory Consideration – Shifting the Conversation from “Cannabis vs. Hemp” to “The Cannabinoids” (Part V): https://bit.ly/3P3r5AW
Catalyst Conversations | 06.06.23 | It Takes an Educational Ecosystem to Empower a Community
NCIA’s #IndustryEssentials webinar series is our premier digital educational platform featuring a variety of interactive programs allowing us to provide you timely, engaging and essential education when you need it most. NCIA’s Catalyst Conversations series is an advanced webinar series curated to give enrollees in our Social Equity Scholarship program the opportunity to network and gain access to valuable knowledge that will help them excel in the cannabis industry.
Looking for ways to empower your community? Trying to figure out a way to build an impactful business in cannabis? It’s going to take dynamic and intentional ecosystems to get the most out of the generational opportunities cannabis is opening up.
In this edition of our Catalyst Conversations series originally aired on Wednesday, June 6, members of NCIA’s Education Committee and Health Equity Working Group were joined by San Francisco’s Office of Cannabis, City College of San Francisco, and Green Enterprise’s HBCU College to Careers Tour.
The institutions shared their experiences, lessons learned, best practices, and perhaps most importantly demonstrated the importance of collaboration to create truly holistic educational ecosystems that will create both long and short term impact, particularly in communities harmed by the War on Drugs.
Learning Objectives
• Gain insights into how educational institutions, government agencies, the business community, and the private sector are collaborating to foster Equity in cannabis and the community at large
• Understand the obstacles and how to navigate them when creating a college to careers pipeline for greater DEI in cannabis
• Learn about what types of educational programming exists for people interested in entering the cannabis industry
Panelists:
Toni MSN, RN, CYT
Founder
Toni – Consulting and Wellness
Cherron Perry-Thomas
Director of Social Impact | Founder
Diasporic Alliance for Cannabis Opportunities (DACO) | Black Cannabis Week
Jeremy Schwartz
Deputy Director
Office of Cannabis for the City and County of San Francisco
J Dawgert Carlin (they/them)
Dean of the School of Social Sciences, Behavioral Sciences, Ethnic Studies, and Social Justice
City College of San Francisco
Kevin Greene
Vice President
Cleveland School of Cannabis
Mike Lomuto (Moderator)
Diversity, Equity & Inclusion Manager
NCIA
Committee Insights | Meet the Minors (Novel, Minor, Synthetic Cannabinoids – Part II)
In this edition of our NCIA Committee Insights series, originally aired on May 11, 2023, we were joined by members of NCIA’s Cannabis Manufacturing, Scientific Advisory and Hemp Committees for an in-depth discussion of the most talked about minor, novel, and synthetic cannabinoids.
What scientific publications exist for each compound? What do we know about each molecule’s physiological, psychoactive, and therapeutic effects?
You’ll find out during this informative session featuring leading chemical experts, manufacturers and product development specialists. Along with audience members they explored these compounds from various perspectives to examine their implications for consumers, medical practitioners, patients, producers and regulators.
Learning Objectives:
• Molecular Structures and Identification of novel, minor, and synthetic compounds
• Published Physiological and Psychoactive effects of these compounds
• Perceived therapeutic effects
• Opportunity to ask about other new compounds not in presentation.
Safeguarding Consumers in the Cannabinoid Product Landscape (Part III):
Know Your Hazards – Occupational Health and Safety Considerations in Cannabinoid Ingredient Manufacturing (Part IV): https://bit.ly/3rEUeKP
Concepts for Regulatory Consideration – Shifting the Conversation from “Cannabis vs. Hemp” to “The Cannabinoids” (Part V): https://bit.ly/3P3r5AW
Catalyst Conversation | 2.22.23 | What’s Hot for 2023?
NCIA’s #IndustryEssentials webinar series is our premier digital educational series featuring a variety of interactive programs allowing us to provide you timely, engaging and essential education when you need it most.
NCIA’s Catalyst Conversations series is an advanced webinar series curated to give enrollees in our Social Equity Scholarship program the opportunity to network and gain access to valuable knowledge that will help them excel in the cannabis industry.
Another year, another set of opportunities! Interested in learning more about up and coming opportunities within the cannabis industry?
In this edition of our Catalyst Conversations series originally aired on Wednesday, February 22, you’ll hear from a great panel of industry veterans, as they provide their seasoned take on where they see the industry headed. The purpose of this conversation is to catalyze thought and provide insights into where things are going over the coming months, so that you can:
• Identify potential opportunities that your business can capitalize on
• Expand your understanding of the current state of the cannabis industry
• Refine your business strategy for the year, and beyond
Whether you’re new to the industry, or have been at it for awhile, join us for this great discussion to level up your staying power in the industry.
Speakers:
Mike Lomuto
Diversity, Equity, and Inclusion Manager
NCIA
Catalyst Conversations | 2.21.23 | Gain an Edge and Make an Impact – Community Benefit Agreements
NCIA’s #IndustryEssentials webinar series is our premier digital educational series featuring a variety of interactive programs allowing us to provide you timely, engaging and essential education when you need it most.
NCIA’s Catalyst Conversations series is an advanced webinar series curated to give enrollees in our Social Equity Scholarship program the opportunity to network and gain access to valuable knowledge that will help them excel in the cannabis industry.
In this edition of our Catalyst Conversations series originally aired on Tuesday, February 21, we hosted a dynamic and practical conversation with members of NCIA’s Retail Committee, alongside cannabis industry leaders based in Chicago – Doug and Gary – surrounding the importance of businesses collaborating with community members, and how to create mutually beneficial partnerships between communities & businesses through community benefit agreements.
Going through the licensing or permitting process? Trying to figure out how to launch your business model in a municipality that isn’t set up for it yet? Are you operating already, and looking for insights as to how to keep your license or strengthen your business model?
You’re in luck as you’ll leave this conversation with a better understanding of what Community Benefit Agreements (CBA) are, and how they are a necessary component of the licensing and license retention process.
On top of gaining insights into how to develop a CBA that works for your business’ bottom line while also creating community impact you’ll also learn about existing CBA’s and the success we’ve already seen in these early stages.
Panelists:
Mike Lomuto
Diversity, Equity, and Inclusion Manager
NCIA
NCIA’s #IndustryEssentials webinar series is our premier digital educational series featuring a variety of interactive programs allowing us to provide you timely, engaging and essential education when you need it most.
In this edition of our NCIA Committee Insights series, originally aired on December 14 and produced in collaboration by NCIA’s Cannabis Manufacturing Committee, Scientific Advisory Committee and Hemp Committee we introduced and framed the myriad regulatory, scientific, linguistic, and ethical issues that come with the rise of minor, novel, and synthetic cannabinoids.
Learning Objectives:
• Understand the role of minor, novel, and synthetic cannabinoids in the cannabis industry and the unique issues relating to their current status.
At the conclusion of the discussion our panel hosted a lengthy moderated Q&A session so our network could get all their burning questions answered by these leading manufacturing, biochemical, and legal professionals from the hemp and cannabis industries.
Panelists:
Scott Seeley
Biochemist and Patent/TM Attorney @Eastgate IP
Cassin Coleman
Founder
Cassin Consulting
Keith Butler
CEO
OP Innovates / Hemp Mellow
Paul Coble
Intellectual Property Attorney
Harris Bricken Sliwoski LLP
There is more to cannabis than THC and CBD. As our understanding (and commercialization) of cannabis evolves, new compounds like CBG, delta-8-THC, THCv, and others are coming onto the scene. These various “minor” cannabinoids, however, bring with them a host of new issues.
Over the next few months this collaboration will continue to explore these issues with various subjects ranging from basic and advanced overviews of these molecules, regulatory recommendations, risk management and compliance concerns all the way to consumer and manufacturer safety. Stay up to date and be the first to know when additional follow-up sessions are scheduled by signing up via the form below.
From Lab to Label: Safeguarding Consumers in the Cannabinoid Product Landscape (Part III): https://bit.ly/3Xc9Lx6
Know Your Hazards – Occupational Health and Safety Considerations in Cannabinoid Ingredient Manufacturing (Part IV): https://bit.ly/3rEUeKP
Concepts for Regulatory Consideration – Shifting the Conversation from “Cannabis vs. Hemp” to “The Cannabinoids” (Part V): https://bit.ly/3P3r5AW
Committee Insights | 11.29 | The Pathway to Greater Equity in New York’s Adult Use Cannabis Market
In this edition of our NCIA Committee Insights series, originally aired on November 29 and produced NCIA’s Diversity, Equity & Inclusion Committee, we held a lively discussion to present the official recommendations jointly submitted to the New York Office of Cannabis Management in Fall 2022.
Since early 2022, NCIA and our DEI Committee has been conducting an ongoing roundtable discussion consisting of multiple national and New York based cannabis social equity and industry organizations to assess and provide feedback regarding rules and regulations. We also covered the PIES Program, which is an innovative program that draws on the lessons learned from other states to create a streamlined solution with true DEI front and center.We also covered the PIES Program, which is an innovative program that draws on the lessons learned from other states to create a streamlined solution with true DEI front and center.
Learning Objectives:
• Learn about NCIA’s New York Social Equity Roundtable, a collaboration of multiple National and New York based cannabis social equity and industry organizations
• Gain insights into how New York is rolling out its Adult Use Cannabis market with regards to Social Equity and Justice Involved individuals
• Understand how our recommendations would impact New York’s market if implemented, and Identify opportunities for organizations and the state agency to work collaboratively
Panelists:
Frederika McClary Easley
Director of Strategic Initiatives
The People’s Ecosystem
Scheril Murray Powell, Esq.
Chief Operating Officer
The JUSTÜS Foundation
Maur Stringer
Founder, Owner, CEO
The Magi Tree LLC
Cynthia L. Mompoint
Black and Brown Economic Power in Cannabis
Adrian Adams, Ed.D.
CEO
Ontogen Botanicals
Mike Lomuto (Moderator)
Diversity, Equity, and Inclusion Manager
National Cannabis Industry Association
Sponsored By:
Video: NCIA Today – Thursday, January 12, 2023
NCIA Director of Communications Bethany Moore checks in with what’s going on across the country with the National Cannabis Industry Association’s membership, board, allies, and staff. Join us every other Thursday here on Facebook for NCIA Today Live.
Reach thousands of leading cannabis businesses while supporting NCIA’s advocacy work to protect and expand the industry by securing the right sponsorship package for your marketing needs. Contact us at Sponsorship@TheCannabisIndustry.org to learn more
Committee Insights | 12.7.22 | How To Use A Marketing Mindset To Raise Capital For Your Cannabis Company
NCIA’s #IndustryEssentials webinar series is our premier digital educational series featuring a variety of interactive programs allowing us to provide you timely, engaging and essential education when you need it most.
In this edition of our NCIA Committee Insights series, originally aired on December 7 and produced by NCIA’s Marketing & Advertising Committee, our panel of cannabis finance specialists, leading operators and capital raising experts will guide you through best marketing practices and considerations to deploy when fundraising in the cannabis industry from a marketing perspective.
Learn tips and tricks and do’s and don’ts from marketing pro’s and industry insiders to best position your company to get the attention of investors in the current market conditions just as you’ve done when targeting consumers.
Committee Insights | 6.28.22 | Meet the Cannabis Influencers: Everything You Need to Know About Influencer Marketing
NCIA’s #IndustryEssentials webinar series is our premier digital educational series featuring a variety of interactive programs allowing us to provide you timely, engaging and essential education when you need it most.
Got questions about how influencer marketing can help your cannabis brand? Interested in working with a cannabis influencer but don’t know how?
You’ll get all your questions answered in this edition of our NCIA Committee Insights series originally aired on Tuesday, June 28, 2022 in which members of NCIA’s Marketing & Advertising Committee convened an all-star panel of innovative influencers who’ve worked with the cannabis industry’s leading brands.
Tune in to the conversation featuring moderator Allison Disney as she speaks with the amazing Alice Moon, Shayda Torabi, and Monica Lo to discuss how to reach and engage cannabis users with original branded content.
What You’ll Learn:
WHY influencer marketing should be in your marketing mix
WHO is most influential in cannabis conversations online
WHAT a successful influencer marketing partnership looks like
HOW to engage the right influencer partner(s) for your brand
Committee Insights | Setting the Stage: Minor, Novel, and Synthetic Cannabinoids
There is more to cannabis than THC and CBD. As our understanding (and commercialization) of cannabis evolves, new compounds like CBG, delta-8-THC, THCv, and others are coming onto the scene. These various “minor” cannabinoids, however, bring with them a host of new issues.
NCIA’s Cannabis Manufacturing Committee, Scientific Advisory Committee and Hemp Committee are all collaborating on a series of #IndustryEssentials webinars over the next few months which will explore these issues with various subjects ranging from basic and advanced overviews of these molecules, regulatory recommendations, risk management and compliance concerns all the way to consumer and manufacturer safety.
To kick off this series we’re showcasing an initial session taking place on Wednesday, December, 14th at 3PM ET / 12PM PT introducing and framing the myriad regulatory, scientific, linguistic, and ethical issues that come with the rise of minor, novel, and synthetic cannabinoids.
But before we get started … Acquire the foundational knowledge needed to dive deep into this session by watching this introductory video on Minor, Novel and Synthetic Cannabinoids.
During this brief 15-minute presentation our panelists Scott Seeley of Eastgate IP and James Granger of Clear Cannabis Inc, both members of NCIA’s Cannabis Manufacturing Committee, will walk you through the categories of compounds, outside of the commonly known big two – THC and CBD, and explain what is known about these compounds along with what the industry can do to move forward to provide safe products to consumers.
Service Solutions | 10.26.22 | Show Me the Money – The Current State of Cannabis Lending
NCIA’s Service Solutions series is our sponsored content webinar program which allows business owners the opportunity to learn more about premier products, services and industry solutions directly from our network of established suppliers, providers and thought leaders.
In this edition originally aired on Wednesday, October 26, 2022 we were joined by the experts from cannabis-focused financial institutions FundCanna, Safe Harbor Financial, and AVANA Companies to dive deep into the current state of cannabis lending with leading industry journalist John Schroyer of Green Market Report.
A decade after California and Colorado became the first adult use states, the regulated U.S. cannabis market encompasses over 70,000 cannabis-related businesses. Shockingly, most of those businesses still lack easy access to debt and other forms of growth and operating capital. From federal prohibitions and the impact of IRS regulation 280e, to state and local taxation issues, the costs of operating a regulated cannabis company continue to remain nearly unendurable.
Learn what may change in the coming six to 12 months so you’ll know how to access debt capital most cost-effectively in this ever evolving environment. No matter your place in the industry or the supply chain from cultivators, manufacturers, vendors, suppliers, distributors and retailers this conversation will provide the insights to meet your financial needs.
At the conclusion of the discussion our panel hosted a moderated Q&A session to provide NCIA members an opportunity to interact with leading minds from the financial services space, join today to contribute to future conversations!
Panelists:
Adam Stettner
Founder & CEO
FundCanna
Sundie Seefried
Founder and CEO
Safe Harbor Financial
02:13 – Equity vs. Debt: With equity dried up, should cannabis companies be looking at debt financing to grow now?
07:28 – Equity vs. Debt: What do borrowers need to do before approaching a debt provider (vs. an equity provider)?
13:25 – Equity vs. Debt: What can cannabis companies or entrepreneurs do to improve their overall credit worthiness prior to seeking capital?
17:16 – How has the interest rate increases by the Federal Reserve impacted capital markets (and the industry at large) in 2022?
26:07 – Audience Q&A: “If there’s “no reason not to have banking” for your cannabis business how can I easily (and inexpensively) establish and maintain a compliant bank account?”
28:56 – Lending: What significant lending challenges are your clients currently facing within the industry?
33:56 – Lending: What advice can you provide business owners for evaluating lenders that you should (or shouldn’t) work with and tips for avoiding predatory lending practices?
39:05 – Cannabis Reform: What impact do you expect President Biden’s recent announcement will have on the industry?
49:32 – Audience Q&A: “Are your financial institutions planning to offer lending and banking services in New York, New Jersey and other new markets?”
51:42 – Audience Q&A: “With the mindset of “Investors are betting on the Jockey not the Horse.” What type of CEO or founding team would be a red flag or not a viable investment?”
55:19 – Audience Q&A: “How can I start to shift my retail company from being primarily a cash-only business?”
