Robert M. DiPisa from Cole Schotz discusses recent developments in the cannabis industry in New York and New Jersey, with a focus on concerns about third-party advertising leading to consumer confusion. Legal challenges such as Leafly litigation and supply chain issues due to licensing delays were discussed. Additionally, insights were shared on proposed bills for psilocybin legalization in New Jersey for medicinal purposes. Robert highlighted his firm's emphasis on serving clients in the east coast region within these markets, providing a comprehensive view of the legal landscapes impacting cannabis businesses in both states and outlining key challenges and opportunities for industry stakeholders.

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We dive into the world of investment with Will McDonough, a titan in the financial industry and co-founder of Nancan Companies, as well as Chairman and Founder of Corestone Capital. With a track record spanning across continents and sectors, McDonough's insights are invaluable.

In this episode, we explore McDonough's journey through the financial industry, from managing billions at Goldman Sachs to co-founding ventures like Atlas Mara. We delve into his foray into cannabis investments, discussing the strategic moves and considerations behind portfolio entries.

McDonough shares his perspectives on emerging markets, including Green Energy Metals, the EV Market, and Bitcoin, shedding light on his approach to identifying opportunities and taking calculated risks.

We also explore McDonough's recent ventures into the adult beverages market with Nancan Companies. We discuss the launch of Nantucket LONGBIRD™ drinks, infused with hemp and CBD, and McDonough elaborates on the flavor profiles and the company's focus on serving the Massachusetts cannabis market.

Finally, we tackle the topic of investing in cannabis, analyzing the recent performance of cannabis stocks and the potential rewards and risks associated with this volatile market.

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Matthew Ginder, Partner in the Cannabis Law practice group at Greenspoon Marder talks about Florida's adult use cannabis legalization, with a focus on achieving voter approval for Amendment Three in 2024. Matt Ginder and Brasco debated THC restrictions, consumption locations, and industry support, highlighting concerns about opposition from healthcare industries and the importance of strategic messaging by Smart and Safe Florida. They contrasted failed ballot initiatives with Smart and Safe's streamlined approach, addressing legislative challenges and market influence concerns. The meeting highlighted regulatory hurdles, industry influence, and the strategic lessons guiding Smart and Safe Florida's approach post-legalization, including legislative discretion, industry funding impact, public messaging strategies, and tribal involvement under Amendment Three. Compliance efforts by current operators were commended for maintaining industry standards and perception.

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Blunt Business welcomes Michael Wang, Co-CEO and CFO with ISPIRE, a company specializing in e-cigarettes and cannabis vaping products. Discussions included collaborations with Hidden Hills, new device launches like Switch One, and partnerships with Burna Boy. Safety measures, regulatory challenges, and quality assurance with ISO and GMP certifications were highlighted. Market trends indicated a rise in vaping products in cannabis sales, with projections of vaping reaching up to 50% of retail sales. Strategic global expansion plans were explored through partnerships outside North America. I Spire's role as an innovator in hardware design for over 400 brands without direct branding association was emphasized, showcasing their forward-thinking strategies for staying ahead in the industry.

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Blunt Business welcomes Sundie Seefried, CEO, Safe Harbor Financial to talk about Safe Harbor Financial's recent operations and future plans. Seefried highlights the company's successful earnings call, showcasing an 85.3% revenue increase in 2023 and strategic moves to expand services and launch new lending products. We delve into topics such as lines of credit for clients, challenges like 280E tax burdens, and the impact of rising interest rates. They explore underwriting requirements, lines of credit based on cash flow analysis, and reliability factors setting Safe Harbor Financial apart in supporting cannabis businesses.

We also talk about possibilities post-280E burden relief, reinvestment options after descheduling, and market dynamics related to taxation changes affecting business growth strategies. Both parties emphasize the importance of advocacy for business integrity and compliance in the industry. Seefried's company is noted for prioritizing serving members over profit-driven motives, echoing principles of a credit union. Brasco appreciates this approach for offering better access to lending and services than traditional banks supporting cannabis businesses.

Criticism is directed at government inefficiencies in managing tax revenue from the cannabis industry, with concerns about licensing fees overshadowing potential tax revenue gains. Despite legal complexities, both parties stress the importance of selecting reliable partners for sustainable business operations. The exchange concludes with plans for future communication regarding shared insights into industry practices.

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Sara Gullickson, Founder and CEO from CB Advisors offers a sneak peek into her upcoming presentation at the Lucky Leaf Expo, where she will unveil strategies for executing operational plans for a successful cannabis launch in Minnesota. As the state gears up to join the ranks of legalized cannabis territories, her expertise promises to shed light on navigating this burgeoning market.

We also tackle the ongoing debate surrounding the licensing process in Minnesota. With the proposed changes aiming to prioritize social equity applicants, Gullickson shares her thoughts on the merits of both merit-based scoring systems and lottery-based approaches. Drawing on her extensive experience in the industry, she offers valuable advice for businesses looking to thrive amidst these regulatory shifts.

Furthermore, we explore the implications of temporary licenses and their potential impact on fostering diversity and inclusion within the industry. With Minnesota Governor Tim Walz's ambitious timeline to open dispensaries by 2025, Gullickson weighs in on the state's progress and assesses the framework laid out by the Office of Cannabis Management.

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Blunt Business discusses standardizing laboratory practices in the cannabis industry for accurate testing. We welcome Breanna Neff, Founder and Chief Food Scientist at brelixi, who shares insights on vetting labs for data integrity.

Breanna introduced brelixi's products like THC/CBD powders for fast-acting functional solutions in daily life. NFL-funded research on cannabinoids as pain management alternatives, with two trials approved, was discussed. Neff also detailed brelixi's customizable shakes with low sugar content and unique electrolyte blends.

We discuss the importance of education, diverse perspectives, and destigmatizing cannabis was stressed for potential funding rounds, as well as future product visibility strategies and collaboration enthusiasm.

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Blunt Business welcomes the CEO of Motif Labs Founder Mario Naric. We discuss the current state of the Canadian cannabis market, with Mario sharing insights on Motif Labs' success in the vapes and infused pre-rolls market. We highlight the significance of the upcoming review of the 2018 Cannabis Act, while later discussing the ongoing review of the Federal Cannabis Act and its impact on public health, consumption patterns, and indigenous communities. They also discuss the challenges and opportunities of navigating cannabis regulations in Canada, emphasizing the importance of compliance and exploring potential export opportunities.

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We continue our discussion with Cat Packer, Director of Drug Markets and Legal Regulation, Drug Policy Alliance about the Biden Administration's proposal to reschedule cannabis from schedule one to schedule three under the Controlled Substances Act, arguing that while this move is significant, it falls short of the promise of decriminalization made by President Biden. 

We also the federal government's recent analysis acknowledging the medical uses of marijuana, but also emphasized the need for further action to address the ongoing stigma surrounding marijuana use. We also discuss strategies for ensuring equity in cannabis licensing, including prioritizing social equity applicants, providing resources and education, and addressing predatory practices.

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Cat Packer, Director of Drug Markets and Legal Regulation, Drug Policy Alliance joins Blunt Business for a 2-part interview where we first discuss the need for a comprehensive approach to cannabis policy reform that prioritizes social equity and harm reduction. We talk about the importance of addressing social equity concerns, such as the concentration of unlicensed activity in local jurisdictions, and responsible and equitable enforcement strategies to encourage consumers and businesses to participate in the legal market.

We also delve into Cat's experience from her previous tenure where she served as the first executive director of the city of Los Angeles Department of cannabis regulation, leading efforts to advise and implement cannabis business Licensing and Regulation in the world's largest cannabis market.

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