ManifestSeven Acquires The People’s Kush, Further Expanding Retail Reach

Cannabis delivery service provides access to broader Sacramento market

CALIFORNIA: ManifestSeven, California’s first integrated omni-channel platform for legal cannabis, today announced the acquisition of The People’s Kush, a legal cannabis delivery service based in Davis, California.

The People’s Kush will be integrated into M7’s retail arm Weden, which has storefront and delivery operations across the state, and will help drive operational expansion into areas ranging from Napa Valley in the southwest to the Greater Sacramento area in the northeast.

peoples kush davis ca“M7 sees tremendous growth potential in The People’s Kush, especially when it comes to serving surrounding population centers and tourism destinations,” said Pierre Rouleau, Chief Operating Officer of ManifestSeven. “We are committed to reaching every corner of the state, and this highly-scalable operation connects our retail footprint with a concentrated local population and tourism base.”

The People’s Kush has been in operation since 2017, building a loyal customer base by serving the communities of Davis, Woodland and areas of Yolo County, but has not yet established a presence in larger nearby markets, which will provide significant growth opportunities for its operations.

“We are excited to be a joining a market leader in M7, allowing user to reach a broader, under serviced part of Northern California with greater efficiency,” said Ishar Dhaliwal, Founder of The People’s Kush. “Integrating into this powerful omni-channel platform will also create a more seamless environment for our customers in accessing the highest quality legal cannabis products. We are grateful to our community for its ongoing support and look forward to continued growth with M7.”

 

Nova Scotia Liquor Taps Tilray For Adult-Use Cannabis Products

CANADA:  Tilray Canada announced that it has been selected by the Nova Scotia Liquor Corporation to receive an initial purchase order for adult-use cannabis. The purchase order would allow Tilray, one of fourteen cannabis producers selected by NSLC, to supply the province of Nova Scotia with a diverse array of cannabis products in anticipation of the launch of the adult-use market on October 17, 2018.

According to the release, Tilray intends to fulfill NSLC purchase orders through its affiliate High Park Holdings Ltd., which was formed to produce and distribute a broad-based portfolio of adult-use cannabis brands and products.
 
High park “We’re thrilled High Park will have the opportunity to supply the province of Nova Scotia with a safe, secure and reliable source of adult-use cannabis products,” said Adine Fabiani-Carter, Chief Marketing Officer at High Park. “Our intention is to deliver on the high expectations Nova Scotians have of us by cultivating and distributing a portfolio of world-class adult-use brands and products that will lead the market in quality, excellence and craftsmanship.” 
 

What You Should Know About Cryptocurrencies And Legal Cannabis

By Alex M

In 2012, when Colorado and Washington legalized marijuana for recreational use, the whole cannabis community celebrated the beginning of the end of pot prohibition.   Something many people wanted to see had finally happened,  but while many entrepreneurs have joined the Green Rush, they have encountered more challenges and business hurdles than most expected. One of the biggest issues facing the budding industry is the lack of traditional payment methods for buying cannabis at legal pot shops.

At the same time that we as a society are transitioning to a cashless society — legal cannabis remains primarily an all-cash business.  Cash the only form of currency accepted at most dispensaries and legal cannabis stores as marijuana remains federally illegal as a schedule 1 controlled substance.  This makes it harder for banks to accept any money coming from cannabis entities — even in legal states.

The $10 billion legal US marijuana industry has taken it upon themselves to expand their payment methods. Two cash alternatives that are increasingly being used are cryptocurrencies and loaded debit cards.

Cryptocurrencies in Dispensaries

Bitcoin, the first digital currency came out in 2009 and the technology has been improving ever since. Since then several cannabis specific cryptocurrencies have been released.  Among those making headlines:

Bitcoin: Bitcoin had a great run in 2017 and that is a partial reason why people are not looking to spend any. Everyone is hoarding their Bitcoins hoping the price is going to go up again. Besides that, Bitcoin is not meant to be an everyday currency. It is more of a store of wealth since transaction fees have become too expensive. However, some places are creating their own tokens which can be traded with Bitcoin.

A dispensary in San Diego called Medicine Man Club created what people call, “a country club for marijuana.”  They created a token called Medicine Man Token (MMT) and they use it for everything inside the marijuana events space, almost like Dave and Busters or Chuck E. Cheese. Instead of walking up to the arcade games and putting in quarters, you use the specific tokens. You use the tokens to buy cannabis and other related products. The Medicine Man Tokens can be purchased with cash, Potcoin or Bitcoin.

Potcoin: One of the most used cyber currencies inside dispensaries is Potcoin. It enjoyed first-mover advantage, and it is being marketed brilliantly, with a mobile app that is easy to pay inside the shop with a QR code. According to Potcoins blockchain explorer, there are new transactions happening every couple of minutes.

Reasons it Won’t Work

Cryptocurrencies offer many benefits for dispensaries, including giving customers the option to pay more freely, but it does come with its own set of problems. Zachary Zises, a Chicago dispensary owner said, “We have too many strict state and federal standards to meet, and right now, the cryptocurrencies don’t allow us to meet those high standards.”  Matt Karnes, founder of GreenWave Advisors agrees, “Because cryptocurrencies are so controversial, we believe its use raises added concern for the cannabis industry, which already faces its own unique challenges for banking and do not consider it a viable option at this point in time.”

Alternative Payments

Since cryptocurrencies have not gone through mass adoption, it is hard for many people to use them for now.  Many still prefer debit cards, so it is not surprising to pre-loaded debit cards being adopted as an alternative to relying on fee-heavy ATMs to make cannabis purchases.

CanPay: Dubbed as the “first legitimate debit payment system for cannabis purchases,” CanPay is making it easier to buy your favorite strain. Tim Cullen, who owns Colorado Harvest Company said, “CanPay solves one of these pain points for us as a business.” People are flocking to CanPay because of their low fees and they’re even confident they will have the lowest fee structure, even after Visa and Mastercard start doing business with dispensaries.

POSaBIT: This is a startup that lets people buy legal weed with their credit cards. It is in the form of a credit card but it is linked to your Bitcoin or Litecoin. POSaBIT works connecting the card to you Bitcoin or Litecoin wallet. When you want to buy your legal weed, you simply swipe the card which takes the money out from your crypto wallet. It is one of the most used alternative payments in the cannabis industry since it has processed over $2million worth of sales in 30 stores total since inception.

GreenMed: A very popular debit card is the GreenMed and the interesting part is it’s connected to the blockchain. Simply add your credit or debit card information to your account and Greenmed can be used to pay at dispensaries. All information is relayed back to the blockchain which gives you an open and transparent source to check all data of a purchase.


Alex has been very deep in the cryptocurrency space for the last 3 years soaking in everything there is to know. With such a new industry popping up, Alex is constantly sharing about the latest news and updates in cryptocurrencies on CoinPupil. 

 

City Of West Hollywood Provides Green Light for Adult-Use Retail Cannabis

CALIFORNIA: The City of West Hollywood has become one of the first cities in the state to permit Adult-Use Retail cannabis sales. The City of West Hollywood has issued Temporary Use Permits (TUPs) to four existing Medical-Use Dispensaries, which authorize Adult-Use Retail sales at their current locations on a temporary basis beginning on Tuesday, January 2, 2018. These are:

  • Alternative Herbal Health Services (AHHS)
    7828 Santa Monica Boulevard;
  • The Los Angeles Patients & Caregivers Group (LAPCG)
    7213 Santa Monica Boulevard;
  • MedMen WeHo
    8208 Santa Monica Boulevard; and
  • Zen Healing
    8464 Santa Monica Boulevard.

West Hollywood has led the way in the national discussion about decriminalizing the use of cannabis for medical purposes,” said West Hollywood Mayor John Heilman. “Now, our City is leading the way in supporting and authorizing adult-use of cannabis.”

People who wish to purchase Adult-Use cannabis must be at least 21 years old; people who wish to fulfill a Medical-Use prescription from a medical doctor must be at least 18 years old. Smoking, vaping, or ingesting cannabis is not permitted in public places. Landlords are permitted to forbid cannabis use on their property and tenants who require medicinal cannabis and have a prescription may ask landlords for reasonable accommodations under state law. Despite California law, Federal law still views cannabis as a controlled substance, even for medical use.