Grow Life 420

In Congress, a new version the National Defense Authorization Act (NDAA) did not include cannabis banking reform. Senator Schumer has insisted on focusing full marijuana reform instead of tackling safe banking. Rep. Perlmutter filed an amendment in committee to attach the marijuana language to the legislation— but he ultimately didn’t insist on a vote.

This week included National Brownie Day and what better way to celebrate than creating the world’s largest edible – an infused brownie. MariMed, Inc. (OTCQX: MRMD) unveiled the world’s largest cannabis-infused brownie in celebration of the launch of its new brand Bubby’s Baked and National Brownie Day and the news went crazy – even landing on the Jimmy Kimmel show. 

There were a few acquisitions this week to discuss:

Tilray, Inc. (NASDAQ: TLRY) is buying Breckenridge Distillery, a leading distilled spirits platform located in Breckenridge, Colorado that is widely known for its award-winning bourbon whiskey collection and innovative craft spirits portfolio. Tilray didn’t disclose the price it paid for the company but it did say that the acquisition will be immediately accretive to EBITDA. 

Agrify Corporation (Nasdaq: AGFY) is buying extraction company PurePressure for $9 million. PurePressure engages in solventless extraction and advanced ice water hash processing in the cannabis and hemp industry. 

Fire & Flower Holdings Corp. (TSX: FAF) (OTCQX: FFLWF)  is buying Pineapple Express Delivery Inc., Canada’s largest delivery and logistics company serving the cannabis sector in a deal valued at $5.3 million. 

In money moves, Schwazze (OTCQX:SHWZ) has entered into a securities purchase agreement for $95 million of principal amount and $93 million of funding amount of convertible notes. High Tide Inc.  (TSXV: HITI) (NASDAQ: HITI) announced that it was going to issue up to C$40 million (or the equivalent in U.S. dollars) of common shares at the company’s discretion and subject to regulatory requirements.

Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) reported total revenue of $6.5 million for the fourth fiscal quarter. The company also delivered a net income of $1.1 million, an increase of $5.0 million from a net loss of $3.9 million in the fourth quarter of 2020. 

And finally Chicago Atlantic Real Estate Finance, Inc., priced its common stock at a public offering price of $16.00 per share. Shares began trading on The NASDAQ Global Market using the symbol “REFI.” 

Klee Irwin is an author, physicist and businessman who serves as CEO and Chairman of Irwin Naturals Inc and Director of Quantum Gravity Research (QGR), a non-profit research institute he founded in 2009.

Founded by Klee in 1994, Irwin Naturals is an award-winning global nutraceutical company providing with products selling in nearly 100,000 outlets, ranging from Whole Foods to Walmart, and having a North American brand recognition in excess of 100 million people. The company expects to be the world’s first household name level player to move into the cannabis and psychedelic mental health spaces. Irwin Naturals is a long-time supporter of Vitamin Angels, which aims to provide lifesaving vitamins to mothers and children at risk of malnutrition thereby reducing preventable illness, blindness, and death and creating healthier communities.

As the Director of QGR, Klee manages a dedicated team of mathematicians and physicists developing emergence theory. The mission of the organization is to discover the geometric first-principles unification of space, time, matter, energy, information and consciousness. Since 2009, the team has published over 60 papers and journal articles laying out some of the mathematical building blocks and axiomatic ideas for this unification model.

Outside of his work in physics and nutraceuticals.  Klee is active in supporting students, scientists, educators and founders in their aim to discover solutions leading to high-impact positive change in the world. He has supported and invested in a wide range of people, causes, and companies including Change.org, Upworthy, Donors Choose, Moon Express, the X PRIZE Foundation, and Singularity University, where he is an Associate Founder.

Full birth name: Klee Martin Irwin

Title: Chairman & CEO

Company: Irwin Naturals Inc.

Years at current company: 27

Education profile: Some College

Most successful professional accomplishment before cannabis: Founded and then led Irwin Naturals to 27 consecutive years of profit culminating with 2021 as the single most profitable year.

Company Mission: To heal the world with plant medicine.

Company’s most successful achievement: We created a brand not just known by over 100 million North Americans but a rare “cult-brand” or brand that sells at the top of its class with virtually no advertising. As part of this, we were able to become one of the largest sellers of CBD in the mass market while also having one of the lowest prices per dose.

Has the company raised any capital (yes or no): No

Any plans on raising capital in the future? Yes

 Most important company 5-year goal:  In Q1 of 2022, we expect to be the world’s first household name brand to move into cannabis. In order to remain profitable, we will do this as a licensing model in most or all legal states in the US and other countries around the world. In addition, we will become the first nationally recognized brand to extend into the psychedelic mental health space, again remaining profitable because of the legality of the psychedelic ketamine. We intend to become the Jenny Craig of psychedelic mental health clinics. That is, the first large scale national chain offering price accessible healing.