Cannapreneur Partners Appoints Former American Express Senior Manager Doug Lennick To Executive Board

MASSACHUSETTS: Cannapreneur Partners, the Westborough, Mass-based holding company finding the cannabis world’s 1% outlier entrepreneurs and industry investment opportunities currently in the middle of a $150 million fundraise round open to investors, has announced the appointment of Doug Lennick to their Executive Board of Directors. 

Lennick is world-renowned for innovative approaches to developing high performance in individuals and organizations, and is an expert in creating practical applications of human behavior that have yielded great success factors for his clients and partners alike in financial services and other industries.

Lennick is a certified financial planner (CFP) and a behavioral financial advisor (BFA) and served as Executive Vice President for American Express Financial Advisors (now Ameriprise Financial), where he led an organization of 17,000 to tremendous success.  Lennick has been the author or co-author of six books translated across 13 languages and has been referenced in the best sellers Working with Emotional Intelligence and Power of Purpose.

“Michael Scott is one of the world’s best at combining entrepreneurial expertise with the passion to make a difference. I am confident Cannapreneur Partners will make a difference, and that’s why I accepted this Board position,” said Lennick.

Lennick currently serves as CEO and co-founder of think2perform, a 15+ year-old professional coaching, leadership consulting, and business development services firm that improves the decision-making skills and performance of individuals and organizations. In November 2000, Lennick was honored by Columbia University’s Center for Social and Emotional Education, and is a Fellow at the Carlson Executive Development Center, Carlson School of Management, and University of Minnesota. He is also a member of the prestigious Consortium for Research on Emotional Intelligence in Organizations.

Michael Scott, Chairman and co-founder of Cannapreneur Partners, says: “I am truly humbled and excited to have Doug, a long time mentor, not only join as a Board Director but also as a strategic, values and purpose driven advisor to our company. Doug and I both see the tremendous value the medicinal side of cannabis can bring to the world.”

Scott notes the chasm between the potential applications and deeper understanding of cannabis as a medicine and where the legal industry currently is, means the opportunity to infuse smart capital and strategic operational excellence is now.

Says Scott: “I am very confident with Doug joining the team as a thought leader we will make a significant, meaningful impact in the cannabis industry.”

Tilray Announces Global Senior Leadership Appointments

Former Coca-Cola, Starbucks, Nestle and Diageo executives join pioneering cannabis company

CANADA: Tilray, a global pioneer in cannabis production, research, cultivation and distribution, announces the expansion of its global senior leadership team with four strategic hires: Greg Christopher as EVP of Operations, formerly with Nestle; Rita Seguin as EVP of Human Resources, formerly with Diageo; Dara Redler as General Counsel, formerly with The Coca-Cola Company; and Charlie Cain as VP of Retail, formerly with Starbucks Corporation.

Tilray_Logo“We are pleased to have these experienced leaders join our team as we continue to disrupt the global pharmaceutical, alcohol, CPG and functional food and beverage industries,” says Brendan Kennedy, Tilray CEO. “Greg, Rita, Dara and Charlie come to Tilray with robust expertise in their respective fields and we look forward to their contributions as we pioneer the future of cannabis around the world.”

Each of the recently hired senior leaders bring invaluable expertise to Tilray’s growing leadership team. Their roles will directly drive the development of Tilray’s robust operations, which have enabled Tilray to distribute its products in 12 countries, as well as accelerate the company’s aggressive global expansion strategy.

Greg Christopher, Executive Vice President, Operations, joins Tilray with over 30 years of global experience in operations and supply chain across the many product categories at Nestle SA most recently serving as Senior Vice President of Supply Chain Operations for Nestle in Canada. Greg will oversee the strategic development and expansion of the company’s global operations and cannabis value chain across Tilray and all its subsidiaries.

Rita Seguin, Executive Vice President, Human Resources, served as the Senior Vice President of Human Resources for Diageo North America and most recently as Vice President of Human Resources for Southern Glazers Wine & Spirits Distributors. Rita’s appointment represents Tilray’s commitment to the long-term growth and success of the people within the organization. She will oversee the synchronization of the company’s growing global team and recruitment of talent all over the world.

Dara Redler, General Counsel, most recently served as Vice President and Senior Counsel for Coca-Cola North America and held a number of leadership roles in the legal division during her tenure at The Coca-Cola Company. In her role as Tilray General Counsel, Dara will oversee the strategic global growth of Tilray and all its subsidiaries with the legal team and work cross-functionally with all teams within the organization.

Charlie Cain, Vice President, Retail, served as Vice President of Concept Development and Franchising for Starbucks Corporation before joining the cannabis industry as CEO of Dockside Cannabis, one of Washington state’s original and most respected cannabis retail chains. Charlie brings more than 15 years of retail strategy, innovation, and operations experience to the development and oversight of Tilray and High Park’s North American retail strategy.

Former Apple Exec Joins Leading Global Cannabis Brand Cura As CMO

OREGON: Cura Partners, one of the largest cannabis brands in the world, today welcomes former Beats by Dre (an Apple company) Global Head of Marketing Jason White as Chief Marketing Officer. White will oversee the development of Cura’s brand family, specifically Select Oil and Select CBD, the company’s best-selling cannabis and hemp oil lines.

Jason White joins Cura with over 19 years of experience in business management and marketing and a lifelong commitment to evolving culture. He brings with him vast experience challenging social constructs through innovative ideas at companies including Beats and Wieden + Kennedy, where he served as Nike Global Account Director and then Managing Director for the Shanghai office.

“Cannabis is an industry deeply rooted in culture and collaboration, and there is no one better suited to solidify our brand Select’s role in the future of this community than Jason White,” said President and Chief Executive Officer Cameron Forni. “Select is already the best-selling cannabis brand on the West Coast, and as we grow around the world, Jason will ensure the brand stays true to its roots in the industry and remains a brand for people from all walks of life.”

“I came to Cura with a desire to make a real impact,” said Cura’s Chief Marketing Officer Jason White. “After the Beijing Olympics with Nike and the world changing ride at Beats across music, sports and fashion; I was thrilled to find another chance to shape the future in the emerging cannabis industry with the incredible team at Cura.”

Cura is one of the largest cannabis companies in the world, on a mission to become the leading provider of cannabis oil in legal U.S. and international markets. Established in 2015, the company has attracted more than $125 million in capital to date and tripled its revenue in the last year. The company is made up of a team of more than 530 employees across four states, with national and global growth on the horizon. It has already begun attracting top talent from industries including global sports brands, public health care companies, top creative agencies and more.

Forni adds, “Our goal is to normalize cannabis and raise the standards so everyone can find a way to consume safely and in a way that fits their lifestyle. Jason’s remarkable experience with brands that impact people’s lives signifies an innovative and bright future for our company and the industry as a whole.”

Sproutly Adds Former Pernod Ricard Beverage Executive To Advisory Board

CANADA: Sproutly Canada has announced the appointment of Constantine Constandis to the Advisory Board.  

Mr. Constandis is a global C-level executive with over 34 years of experience in the wine and spirits industry in Canada, USA, Europe and Asia. Mr. Constandis was a former senior executive with Pernod Ricard SA, the €37B publicly traded producer of wine and spirits whose global portfolio includes leading brands such as Absolute Vodka, Jameson, The Glenlivet, and Beefeater, among others; most recently serving as President of Pernod Ricard China and Pernod Ricard Asia Travel Retail.

Prior to Pernod Ricard, Mr. Constandis was the CEO of Corby Spirit and Wine Ltd, the TSX listed alcohol manufacturing and distribution company whose portfolio includes some of the most renowned brands in Canada, including J.P. Wiser’s Canadian whiskies, Lamb’s rum, Polar Ice vodka and McGuinness liqueurs. Mr. Constandis also previously held senior roles at Seagram Company Ltd., including CFO, Europe & Africa. Mr. Constandis holds a Bachelor of Commerce from Concordia University and is a Qualified Chartered Accountant.

 

“We are very pleased with the addition of Constantine Constandis to Sproutly’s Advisory Board” said Keith Dolo, President and CEO of Sproutly. “Constantine is committed to becoming an active member of the Company’s Advisory Board. His experience in brand building, operations, sales and marketing in the highly-regulated spirits industry will prove to be extremely valuable to Sproutly as it continues to develop into a leading cannabis beverage company” he concluded.

 

As a result of the board currently being at its maximum capacity, Constantine will be initially appointed to the Advisory Board until the company’s next Annual General Meeting, at which time the board intends to nominate a larger Board of Directors which will include Constantine as an independent Board of Director member.

 

From Niche To Normal – Cannabis Use Becoming More Accepted In The United States

NEW YORK: Growing numbers of consumers support the legalization of cannabis in some form and a majority believes it has a positive impact on the economy, according to the newly released 2018 Fall Cannabis Culture Poll, developed jointly by leading global communications agency BCW (Burson Cohn & Wolfe), PSB Research and Civilized, a premium media and lifestyle brand that embraces and highlights modern cannabis culture. A full 83 percent of the poll’s respondents (U.S. adults, cannabis consumers and non-consumers) say they support some form of legalization of cannabis. Sixty-three percent of non-consumers, and 95 percent of cannabis consumers, say legalization has had a positive economic effect on the states where use has been made legal.

PSB Research, in partnership with BCW and Civilized, conducted online interviews between September 26 and October 4, 2018 with 1,200 U.S. adults aged 21 and older to explore views on cannabis and its usage and to determine general habits and behaviors of those who use and those who do not use cannabis. Respondents are defined here as consumers and non-consumers.

While consumers and non-consumers say legalization has benefitted local economies, cannabis purchases continue to be interpersonal transactions. Currently, 46 percent of consumers say they buy cannabis from friends or family, while just 30 percent patronize dispensaries. However, 84 percent of consumers who do not purchase cannabis at a dispensary say they would be willing to consider doing so. Thirty-eight percent of non-consumers say they would consider spending money with a cannabis-related business if it were legal where they live.

Use of cannabis in the U.S. is primarily recreational, but medical use is also popular. One in five (19 percent) of Americans currently consume cannabis, and more than half of those consumers say they use it at least a few times a week. More than four in five self-reported cannabis consumers use it for recreation, while about half of consumers report using cannabis for medical purposes. Cannabidiol (CBD) use among self-reporting consumers is also fairly common — about one in three cannabis consumers also report using CBD for medical or other purposes.

The amount of dried and cured cannabis that consumers buy varies; while about one in 10 consumers buy one gram or less per month, about one third of consumers buy at least a quarter of an ounce every month. Thirty-five percent of cannabis consumers say they spend at least $100 per month cannabis or cannabis-related products.

“The 2018 midterm elections just confirmed the data from The Cannabis Culture Poll – cannabis is moving from niche to normal across the U.S.,” said Chris Foster, President, North America, BCW. “Michigan voters just made their state the tenth in the U.S. to legalize recreational cannabis, and Missouri and Utah passed initiatives to legalize medical marijuana, making medical use legal in 33 states.

“However, as legalization continues to spread across the U.S. and create new market opportunities, it won’t be long before the government begins to establish standards for production, distribution and consumption,” Foster continued. “Entrepreneurs and business owners will need to be prepared to navigate what is sure to become a complex regulatory environment.”

Consumers and non-consumers already see the need for some level of regulation and oversight of the industry. About half of non-consumers and over two-thirds of consumers would view the industry more favorably if it partnered with organizations to develop medical standards and regulations, increased industry funding for research on cannabis’ effects from medical and recreational use, and/or developed public education campaigns to support responsible legal use of cannabis and its derivatives.

“We’re excited to see the strides business leaders and voters in the U.S. are making to normalize cannabis,” says Derek Riedle, Publisher of Civilized. “There is incredible potential for this industry as cannabis sheds its taboo, shadowed past. We’re proud to be part of the movement as the industry brings cannabis out of the dark and into more lives across North America.”

Canada: Far Fewer Young People Using Cannabis

CANADA:  Cannabis use among Canadian adolescents has declined significantly in recent years, and fewer teens say that it is easy to obtain, according to data published in the journal Preventive Medicine.

Investigators at the University of Waterloo in Ontario assessed teen marijuana use trends for the years 2004 to 2015. Researchers reported that adolescent use fell nearly 50 percent between the years 2008/2009 and 2014/2015. The percentage of teens who acknowledged that accessing cannabis “would be easy” fell nearly 40 percent between 2006/2007 and 2014/2015.

“Overall, cannabis use among Canadian youth appears to have peaked around 2008/09, with substantial declines over the past decade,” they concluded.

Adolescent marijuana use rates in the United States have followed a similar decline over the better part of the past two decades.

The researchers published separate data in January finding that few Canadians who consume cannabis meet criteria for problematic use.

Earlier this month, Canada legalized the use and sale of cannabis to those age 18 and older.


For more information, contact Paul Armentano, NORML Deputy Director, at: paul@norml.org. Full text of the study, “Trends in cannabis use over time among Canadian youth: 2004-2014,” appears in Preventive Medicine. NORML’s fact-sheet, “Marijuana regulation and teens use rates,” appears online.

 

Weekend Unlimited Shares Begin Trading On The Canadian Securities Exchange

Trading Under the Symbol YOLO on the CSE on October 15, 2018

CANADA: Weekend Unlimited, a lifestyle cannabis company, announced that  its shares began trading Monday, October 15, 2018 on the Canadian Securities Exchange under the symbol YOLO.

The Company is the result of a two for one consolidation and the previously announced amalgamation of Open Source Health Inc. (formerly OHS) and Weekend Unlimited Inc., a private arms-length company which holds interests in various cannabis-related companies. The resulting company continues under the name Weekend Unlimited Inc. All of the assets previously held by Open Source in the online health space have been sold.

A detailed listing statement dated October 10, 2018 has been filed by the Company on www.sedar.com and on the CSE website.

Weekend Unlimited has built significant momentum in the lead up to going public, with an existing portfolio in Washington State, Orchard Heights Growers, British Columbia, Northern Lights Organics and internationally, Jerome Baker Designs, in the effort to build a strong, versatile foundation for substantial growth. Additional potential acquisitions have been identified and are subject to letters of intent in Jamaica (an existing cultivation and productions facility), California (a beverage company) and California (a multi-state THC and CBD infused candy company).

Weekend Unlimited’s Brand Acquisition Model

Weekend Unlimited aggregates and scales its small to medium brands, primarily in the categories of flower, extracts, and edibles. Weekend Unlimited brands have best of class operations, distribution, and strong revenue trajectories, making them ideal candidates for the deployment of capital and expertise through access to technologies, infrastructure and centralized systems. With assets secured in British Columbia, Washington State and internationally through Jerome Baker Designs, Weekend Unlimited is establishing itself as an integrated cannabis company.

Current Brands Include:

Weekend Unlimited BrandsJEROME BAKER DESIGNS

  • Since 1991, Jerome Baker Designs has been at the forefront of design and creativity in the glass and canna industries.
  • This 3 X High Times Cannabis Cup winner, with offices in Las Vegas, New York and Maui, Jerome Baker Designs creates custom glass artwork that its clientele is proud to display in their homes and offices.
  • Pending launch of CBD line of products in fall of 2018
  • Pending launch of an infused water bottle in trademarked Jerome Baker bong design in fall of 2018

NORTHERN LIGHTS ORGANICS

  • With the agricultural rich land and certified organic farming expertise, Northern Lights will become Canada’s first high CBD focused hemp & cannabis farm, grown from certified organic soils with final products certified organic
  • 300-Acres will be dedicated to outdoor organic hemp for CBD extraction
  • Indoor cannabis cultivation will be housed in 68,000 sq. ft. of purpose-built grow rooms with rolling table automation
  • The Northern Lights Organics Campus will include veg, clone and genetics rooms and an extraction facility for CBD Hemp oils and concentrates.

ORCHARD HEIGHTS GROWERS

  • Orchard Heights Growers in Washington State are focused on premium quality indoor cultivation and processing.
  • The company provides a combination of mixed light greenhouses with a processing room for extraction.
  • Orchard Heights Growers phase one development includes a state of the art, optimized efficiency Cannabis greenhouse with full climate controls.

Capital Structure

After the private placement detailed below, the Company currently has 248,982,255 issued and outstanding shares, and 189,775,724 shares reserved for issuance upon the exercise of warrants and options. 142,222,711 shares are subject to a hold period until February 16, 2019, and an additional 21,172,500 shares are subject to a 3-year escrow.

Private Placement

The Company has closed non-brokered private placement of $5,409,154 by the issuance of 27,045,770 units at $0.20. Each unit consists of one common share and one warrant entitling the holder to subscribe for one additional share for $0.25 for a period of 2 years, subject to the Company’s right to accelerate the expiry date upon 30 days’ notice if its shares trade at $0.50 or more for a period of 10 days. Proceeds will be used for working capital and for further acquisitions.

Survey: Cannabis Use Becoming Common Among Older Adults

COLORADO: The use of cannabis is relatively common among those over the age of 65 who reside in a legal marijuana state, according to data published in the Journal of the American Geriatrics Society.

Investigators from the University of Colorado, Anschutz Medical Campus anonymously surveyed older adults at a pair of ambulatory geriatric primary care clinics in Colorado.

Thirty-two percent of respondents reported having used cannabis following legalization, and 16 percent reported that they were current users. Subjects were most likely to report using cannabis to mitigate symptoms of pain, anxiety, and depression, or to stimulate appetite.

Authors concluded: “[O]ur survey of ambulatory older adults from Colorado demonstrated that marijuana use in this population was common. Respondents reported using recreational marijuana to target a variety of medical symptoms and conditions with few reported adverse effects. Thus, it is prudent for primary care providers of older adults to inquire specifically about marijuana use before considering prescription changes or additions.”

Separate studies find that self-reported cannabis usage among older Americans is rising dramatically, and that many seniors reduce their use of prescription medications, particularly opioids, following their marijuana use. According to clinical data assessing seniors’ long-term use of cannabis, consumption is safe and is associated with a “significant improvement” in subjects’ “overall quality of life.”


For more information, contact Paul Armentano, NORML Deputy Director, at: paul@norml.org. Full text of the study, “Characteristics and patterns of marijuana use in community-dwelling older adults,” appears in the Journal of the American Geriatrics Society.

About Six-In-Ten Americans Support Marijuana Legalization

U.S. public opinion on legalizing marijuana, 1969-2018About six-in-ten Americans (62%) say the use of marijuana should be legalized, reflecting a steady increase over the past decade, according to a new Pew Research Center survey. The share of U.S. adults who support marijuana legalization is little changed from about a year ago – when 61% favored it – but it is double what it was in 2000 (31%).

The growth in public support for legal marijuana comes as a growing number of states have legalized the drug for medical or recreational purposes in recent years.

Nine states and the District of Columbia have legalized the drug for recreational purposes, according to the National Conference of State Legislatures. More than half the states (31) – plus the District of Columbia, Guam and Puerto Rico – have legalized it for medical purposes. Marijuana remains illegal under U.S. federal law.

The list of states that have legalized marijuana could expand this November. Voters in Michigan and North Dakota will decide whether to allow recreational use, while those in Missouri and Utah will decide on medical use. In Utah, Gov. Gary Herbert announced this month that he would call a special session in November to debate a different medical marijuana proposal, regardless of how the ballot measure turns out.

As in the past, there are wide generational and partisan differences in views of marijuana legalization. Majorities of Millennials (74%), Gen Xers (63%) and Baby Boomers (54%) say the use of marijuana should be legal. Members of the Silent Generation continue to be the least supportive of legalization (39%), but they have become more supportive in the past year.

Nearly seven-in-ten Democrats (69%) say marijuana use should be legal, as do 75% of independents who lean toward the Democratic Party.

Republicans are divided, with 45% in favor of legalizing marijuana and 51% opposed. Still, the share of Republicans saying marijuana should be legal has increased from 39% in 2015. Independents who lean toward the Republican Party are far more likely than Republicans to favor marijuana legalization (59% vs. 45%).

 

Poll: Health Specialists Support Legalizing Cannabis

OREGON: Health professionals support the legalization of marijuana for both medical and recreational use, according to survey data compiled by MedScape.

Eighty-two percent of nurses, 82 percent of psychologists, 71 percent of pharmacists, and 67 percent of physicians agreed with the statement, “Medical marijuana should be legalized nationally.” Majorities in each profession also endorsed legalizing the adult use of marijuana.

A 2014 poll by WebMD/Medscape of 1,544 physicians previously reported that 67 percent of doctors believe that the plant should be a legal option for patients. The results of a 2013 survey conducted by the New England Journal of Medicine reported that 76 percent of physician respondents supported the use of cannabis for medical purposes.


For more information, contact Paul Armentano, NORML Deputy Director, at: paul@norml.org.