Earlier this year, extraction device manufacturer Magical Brands closed a multimillion-dollar revenue-based financing deal with Decathlon Capital. THCnet recently caught up with Magical Brands chief operating officer Craig Snyder to discuss the recent fundraising round, and the company’s plans for growth.
Chicago-based cannabis firm Green Thumb Industries last week reported impressive 2020 financial results, including 157% revenue growth and nearly 550% adjusted EBITDA growth. GTI founder Ben Kovler believes things are just getting started. We caught up with Kovler to learn more about his outlook on the U.S. cannabis market, and how he expects the sector to continue to develop in the coming years.
Global cannabis firm TerrAscend Corp. has fired CEO and executive chairman Jason Ackerman. Current board chair Jason Wild, the president of JW Asset Management and a lead investor in the company, has taken over as executive chairman and will lead TerrAscend while a new CEO is identified.
Acreage Holdings is adding another executive from Bespoke Capital. The New York-based cannabis firm announced Tuesday that Steve Goertz, a Canadian business executive who most recently served as partner and chief financial officer of the Bespoke SPAC, would supplant current Acreage CFO Glen Leibowitz.
Are you looking to break into the cannabis industry? Wondering what you can expect to earn? Colorado-based recruiting agency Vangst has you covered. On Monday, Vangst released its newest “Salary Guide” detailing statistics about new cannabis industry job creation and compensation.
Chicago-based cannabis firm Cresco Labs has hired consumer packaged goods veteran Ty Gent as its new COO. Gent most recently served as the chief supply chain officer of US Foods, one of the largest foodservice distributors in the U.S.
Following a six-month search for a new CEO, New York-based cannabis firm Acreage Holdings announced Friday that former Pfizer North America president Peter Caldini would join the company on Dec. 21. Caldini, who takes over for interim CEO Bill Van Fassen, most recently led Bespoke Capital Acquisition Corp., a blank check company focused on buying cannabis businesses.
Former NBA Champion Matt Barnes has partnered with California-based online cannabis marketplace and delivery service Eaze to advise their board of directors on “cannabis policy, social impact, and industry relations,” and help the company launches its Momentum accelerator program nationally.
In a wide-ranging discussion with THCnet, Cresco Labs co-founder Joe Caltabiano discusses his departure from the Chicago-based cannabis firm, how he expects the industry to develop in the coming years, and why federal legalization might not come as soon as some hope.
Is there a market for “functional cannabis” and can a brand convince you to get moving? The entrepreneurs behind OFFFIELD, a Los Angeles-based startup, are betting on it.
Leafly, an online cannabis information resource and commerce platform, has named general counsel Yoko Miyashita as its next chief executive. Effective Tuesday, Miyashita will supplant outgoing CEO Tim Leslie, a former Amazon executive who was tapped to lead the Seattle-based company in March 2019.
Ben Larson, the CEO of Vertosa, a leading cannabis infusion technology company, believes THC and CBD-infused beverages could eventually become society's so-called seventh glass. “Our entire culture has continually developed around beverage," he said. " While infused beverages are a small percentage of the overall industry right now, it’s only because we’re in the developmental phase.”
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