Grow Life 420

Jushi Holdings Inc.  (OTCMKTS: JUSHF) is buying the 93,000 sq. ft. facility, operated by its wholly-owned subsidiary and Virginia-based pharmaceutical processor, Dalitso LLC , together with approximately nine acres of surrounding land in Prince William County, Virginia, for approximately $22 million. The Acquisition, together with Dalitso’s planned buildout of the Facility, will enable Dalitso to efficiently produce a consistent supply of medical cannabis products as patient access improves and as the medical cannabis program matures and expands. The Acquisition is subject to customary closing conditions and is expected to close in the second quarter of 2021.

In December 2020, Jushi announced it completed the acquisition of the remaining 21% of the issued and outstanding equity of Dalitso, bringing its ownership to 100%. Jushi also announced in December 2020 that Dalitso had commenced operations at the Manassas facility and officially began serving patients at its BEYOND / HELLO Manassas location.

“The Virginia cannabis market is an area of strategic focus for Jushi given Dalitso’s strong position in the most densely populated region in the Commonwealth,” said Jim Cacioppo, Chief Executive Officer, Chairman, and Founder of Jushi. “Through the completion of this acquisition, Dalitso will have the expansion capacity required to scale cultivation and processing to meet the anticipated patient demand of a growing program. Jushi is dedicated to providing patients with best-in-class products and dispensing experiences that go beyond expectations. To that end, we look forward to the continued build out of our Facility so we can best serve registered patients. Separately, we were pleased to see Governor Northam and the General Assembly respond to their constituents by moving the effective date of legal possession date for small amounts of cannabis forward to July 1, 2021. We hope the Governor and General Assembly will act expeditiously and with similar decisiveness to authorize legal procurement so Virginians without a medical certification have access to safe and controlled cannabis products in a regulated market without material delay.”

Virginia

Virginia recently became the 17th state to legalize cannabis for adult use and the fourth state to do so by passing a bill through its state legislature versus going to the voters. Virginia lawmakers approved a bill that would legalize, regulate, and tax cannabis sales for adults 21 and over.   It will probably be another two years before the state sees any retail sales.

Dalitso is one of only five applicants to have received conditional approval for a pharmaceutical processor permit issued by the Virginia Board of Pharmacy, and one of only four to have received final approval and permit issuance in the Commonwealth. Dalitso’s permit allows Dalitso to cultivate, process, dispense, and deliver medical cannabis to registered patients in Virginia. The designated area for Dalitso to operate is Health Service Area II, in Northern Virginia, which includes two of Virginia’s most densely populated counties, Fairfax and Prince William, and has a population of approximately 2.5 million people or nearly 30% of the state’s total population according to the U.S. Census Bureau.

California-based Connected International Inc. also known as Connected Cannabis Co. closed on a $30 million capital raise consisting of debt and equity financing. The round was led by existing investors Navy Capital and One Tower Group with participation from new investors Emerald Park Capital, an affiliate of Bryant Park Capital, and Presidio View Capital. Connected previously raised $25 million in a Series A round of funding in July 2019.

“We’re thrilled to bring Emerald Park Capital and Presidio View Capital into the Connected family and welcome back our long-term partners that have supported our company’s mission from the very beginning,” said Sam Ghods, CEO of Connected. “We are steadfast in our development of new, best-in-class genetics and our production of top-quality flower that has resulted in impressive growth and unwavering customer loyalty. That same commitment and quality that we’ve prided ourselves on from day one will stay with us as we enter additional states. We look forward to bringing our true product and brand to consumers in new markets –  that is our highest priority every time we look at expansion.”

Connected has been building a proprietary genetics portfolio of premium strains and meticulously cultivating cannabis at scale since 2009 and is considered by some to be the pioneer of “designer weed.” Connected is currently EBITDA-positive.

Connected has won several awards for its strains and has experienced monumental 68% year-over-year growth with 75% revenue CAGR through 2021. Connected and its partner brand, Alien Labs, acquired by Connected in 2017, recently took home a total of five top-ten wins across the Indoor Flower and Live Resin Cartridges categories of the 2021 Emerald Cup – Northern California’s premier cannabis destination and the industry’s most prestigious award. Connected led the indoor flower category with their Gelonade strain taking first place while Alien Labs’ Biskante placed third.

“Connected’s product quality is unmatched across the cannabis industry, as exemplified by their dedicated mass following,” said Chetan Gulati, Partner of Navy Capital. “The company’s success is largely due to their proprietary genetics as well as their ability to grow premium cannabis efficiently and at scale without compromising on quality. We look forward to seeing the team bring that same top-shelf quality to more U.S. markets.”

The company currently operates in California and Arizona. By virtue of its organically developed and trusted reputation, Connected’s expansion into Arizona in November 2020 has seen continuously high sales since launching.

With the additional capital, Connected will accelerate its national expansion while maintaining control over its state-of-the-art cultivation techniques. The company plans to focus on states with robust cannabis cultures and promising potential for sustained growth, such as Nevada with its entertainment and cannabis tourism and Michigan with its continued increase in sales.

“Connected is a legacy brand that’s established itself as a market leader based entirely on their unique, premium cannabis strains and flower,” said Joel Magerman, Managing Partner of Emerald Park Capital. “Over the last decade, Connected has built a best-in-class team across departments, from cultivation to marketing. We are eager to see what innovations and additional value the team will bring as they continue on their path to becoming a leading national brand.”

Editors Note: This is a guest post. 

It is the 21st Century- a  world where we can get almost anything the heart desires simply by ordering it online and having it delivered straight to the doorstep. And, the cannabis industry is no different today. 

The slow but steady movement of marijuana’s use shows heavy documentation and has gained support from the consumers, especially the medical cannabis users. However, there remains a lot of mystery around the cannabis purchase process. Yes, people engage in regular workarounds for purchasing cannabis. 

But, no longer!

Yes, buying weed is pretty simple, provided you engage in a convenient and straightforward process, as described. Cannabis enthusiasts, can’t wait to know how? Well, let’s get going:

• Embark on the research process:

When ordering marijuana products, it becomes vital to account for where you reside. After that, get informed and be sure that you aren’t falling under any scams or scrolling through any sketchy website. Ensure that the website you’re ordering CBD Products from looks legitimate and has reviews and publications from different customers. Dwell well on the reviewers and make sure they use different sets of words to express themselves differently. 

After all, you never wish to engage in illicit and fraudulent seller activities.

• Know that you’re not scammed:

Let’s face it; a gazillion scammers are waiting to entrap you, especially when you buy weed. Thus, here are a few things that you must look for while purchasing weed:

1. Open all eyes if the service asks you to pay through credit card or in advance.
2. An online store that’s willing you to ship weed across state lines.
3. An unlicensed dispensary.
4. Anyone who offers you to mail weed. 
5. The social media business is offering you to sell weed. 

Know that the online cannabis marketplace is a budding business model. Thus, with the flexibility of government regulations, the options have been changing and becoming standardized. 

• Check online for reviews:

It is pretty unlikely for a reputable weed supplier not to have much knowledge of drugs and supplements. Please take note of the product reviews and ensure that they are complete and pretty exhaustive. Attain a clear picture of the correct dosage, symptoms, effects, and anything else that you as a buyer must know. 

The website and product description page will shed sufficient light on the seller’s credibility and trustworthiness. Thus, a single look will be enough to invite you as a customer. Care and efforts will be enough to spot. Also, the bottom line revolves around following your gut feeling. 

• Cost:

Another good sign that comes as a thumbs up for the product quality is the cost. Thus, closely check the price tag. These should never be too high or too low. 

If you’re ordering in bulk, ensure availing coupons and other vouchers. Thus, it seems like a great incentive for going in for an online dispensary. The best deal for buying top-notch products at pocket-friendly prices involves having attractive options for bulk purchasing. 

Key Takeaways

Ordering weed can be pretty simple as ordering pizzas or groceries. Just make sure you have your ID and cash. Apart from these, take a look at the customer support services that your choicest dispensary offers, in addition to the payment option, and then you’re good to go with weed!

Enterprise software company Akerna (Nasdaq: KERN) just released a Flash Report tracking buying trends related to this year’s 4/20 cannabis consumption holiday, and the news for the industry is favorable. The weekend preceding 4/20, which lands on a Tuesday this year, is pegged by Akerna’s predictive data as the most significant sales weekend of the year. On Friday, April 16, the Flash Report anticipates a 50% growth in daily sales from its 2021 average, with a total industry sales figure of $85,000,000. Saturday through Monday look strong as well, with figures ranging from $50,000,000 (on Sunday, historically the lowest cannabis sales days) to $78,000,000 on Saturday. By the time Tuesday hits, the daily retail sale of legal cannabis is expected to gross $95,000,000 nationally, bringing total 4/20-related sales to $370,000,000 in the U.S. if Akerna’s data proves accurate.

The Flash Report offers a breakdown of category sales and sales percentage by demographics such as gender (using a male and female binary) and age. Flower is forecast to top products sales in the five days of 4/20 spending, constituting 49% of sales (up 4% from the 2021 daily average). Cartridge pens are predicted to come in at 31% while Concentrates and Infused Edibles sit in third and fourth place at 11% and 8%. Men are likely to lead women in purchasing, with 63% of males stocking up to ring “Weed Day” over 38% of females.

According to Akerna’s numbers, 30-40 year-olds will make up 31% of consumers during this period, with under 30’s coming in at 29%, 40-50 year-old’s at 20%, 50-60 year-olds at 12%, and just 8% of folks over 60 hitting the dispensaries, shops and online retailers. The average order total will likely be up about $10, boosting the average spend per customer from $93.48 to around $105.00. The number of products purchased is predicted to go up as well, with a 30% increase from 2021.

The data used to inform Akerna’s Flash Reports is derived from MJ Platform, a provider of cannabis compliance software for the marijuana industry. Sales projections are based on market adjustment calculations and represent the entire US market as an aggregate. In a previous Flash Report, Akerna noted that the St. Patrick’s Day stimulus check drop led to the largest cannabis sales day of the year, which may contribute to the projected boost in 4/20 sales as well. Expanding legalization measures, a competitive retail market, and creative product development to reach a broader demographic of consumers may also contribute to the uptick. Whatever the main drivers may be, Akerna’s sales predictions herald a very happy 4/20 for the cannabis industry.