Interest Remains High For Investment At New Jersey Cannabis Symposium

By Stu Zakim

A crowd of over 300 Cannabis investment enthusiasts attended the second edition of the NJ Cannabis Symposium in Newark NJ last week to hear two panels discussing the financial and investment opportunities that are and will be available to people involved in the Cannabis industry in New Jersey.

The hottest topics during the networking sessions last Thursday night in Newark NJ were a combination of Governor Murphy’s efforts towards legalization of adult use cannabis and his just announced expansion of medical cannabis mixed in with a lot ofs “was that Keith Stroup,” referring to NORML’s founder who was one of the featured speakers.

keith and brian and mrs

The evening got off to a standing ovation for Stroup, who, as the night’s first speaker, took the group on a journey through his first experiences with the plant in 1965 through today, declaring his continued passion for “Smoking Weed.”   Stroup was there to also announce a new service that NORML will offer a directory of attorneys with cannabis practices beyond criminal law as the need has grown beyond that specialization.  He thanked NJCS hosts Joshua Bauchner, Ellie Siegel and Gary Rosen who brought the idea of expanding the listing to Stroup and NORML.

The panels, moderated by BSC Group CEO Brian Staffa and NJ Cannabis Insider Editor in Chief Justin Zaremba, gave the audience a very thorough overview and insights into the what a legal industry will look like, what will be required to get into it and advice.  One of the crowd pleasers was the name badges that were color coded to say if you were looking for money, investing money or just an expert networker, which made the three networking sessions so worthwhile.

nj cannabis symposiumAccording to John Perricone, CEO of SunGrown Zero, a proprietary hybrid-light cultivation facility powered by natural sunlight and with precise climate control that delivers the lowest operating costs and highest profit margins of any Cannabis facility design, said he had been to many shows through his 20 years as a cultivator and thought the show delivered very good advice and information for the NJ industry.

BSC’s Staffa added “The interest in medical expansion licensing and adult use licensing continues to escalate daily and my phone does not stop ringing! It was exciting to see such a diverse group united in their enthusiasm for this new industry.”

The NJ Cannabis Symposium was hosted by BSC Group, Ansell Grimm & Aaron, PC, Marcum LLP and Longview Strategic. Sponsors include BioTrackTHC, Gottlieb, Rackman & Reisman, PC, Wilson Safe Company, The Marijuana Business Association (MJBA) and Bridge Strategic Communications LLC.

 

Focus On Finance And Investment At NJ Cannabis Symposium March 29th

NEW JERSEY: Taxes, banking and investment will be he the focus of the second event  in NJ Cannabis Symposium Series, which returns to the NJPAC in Newark, on March 29 from 4:30-8:30pm.

Building on the success of its January program, which brought over 800 budding Cannabis entrepreneurs together to explore the Cannabis industry in NJ, the program is intended to educate those interested in preparing for cannabis business opportunities and follows a natural progression of topics relevant to NJ’s suspected timeline, spotlighting the intricacies, challenges, and opportunities associated with navigating all things finance. Doors will open at 4pm to accommodate registration.

Published panelists include:

● Al Foreman – Partner & CIO at Tuatara Capital
● Cynthia Salarizadeh – Co-founder/Chief Strategy Officer of Green Market Report
● Gary B. Rosen, CPA, CFE, CFF, CVA, CGMA – Partner, Marcum LLP
● Javier Hasse – Cannabis/Biotech Author & Journalist
● John Kagia – Executive Vice President, Industry Analytics at New Frontier Data
● Ellie O. Siegel, Esq., MBA – Founder of Longview Strategic

Justin Zaremba, editor of NJ CANNABIS INSIDER and Aaron Smith, CNN Money’s Cannabis Reporter, will moderate the two panels.

Panel discussions are set to include:

● How to prepare for a capital raise
● Structuring your cap table
● Investment Opportunities in NJ cannabis & Surrounding markets
● Targeting the right kind of funding for your business
● Determining how much capital to raise
● 280E Tax implications
● Deductions for cannabis businesses
● Banking challenges and solutions

“The fundamentals of starting a successful company are careful planning and securing the appropriate resources to get the job done,” said Ellie O. Siegel of Longview Strategic, one of the hosts of The NJ Cannabis Symposium. “Generating a business plan and financial projections can seem daunting, but cannabis requires as much or more planning than operating a start-up in other industries,” she concluded.

Gary Rosen, Partner, Marcum, LLP, said “To succeed in the cannabis business, it is imperative that owners, partners, and investors do their homework and surround themselves with qualified professionals who understand the nuances and caveats of operating in this emerging industry. The panel conversations will provide that base information.”

To facilitate meaningful conversations during the program, NJCS will release a glossary of 101-level terms in order to help level the playing field and ensure that those less familiar with financial jargon can also benefit from a higher level discussion.

Registration, which is offering Advanced Pricing of $50 off the walk-in price March 15.

The New Jersey Cannabis Symposium is being hosted by BSC Group, Ansell Grimm & Aaron, PC, Marcum LLP and Longview Strategic. Returning sponsors include Marijuana Business Association (MJBA), 420 IT Solutions, Blue Dream Vapor, Viridis Security Group and Bridge Strategic Communications LLC.