In this episode of Higher Exchanges, Jesse Redmond and Morgan Paxhia dig into three pressing topics shaping the cannabis industry.

🌱 Planting Salisbury Canyon Ranch
We kick things off with a look at LEEF’s landmark cultivation project. With 83-day auto-flowering plants going in the ground, the team is on track for a summer harvest and a second replant this fall. We break down how this lowers COGS, increases supply chain control, and sets the stage for higher-quality products and improved margins.

💸 The Fall of Gold Flora
Next, we analyze what went wrong at Gold Flora. With SG&A and interest expenses far outpacing revenue, the company posted a $56.5M net loss in 2024 and entered receivership. We discuss what this means for the industry, who might acquire the distressed assets, and the hard lessons in cost control and toxic debt.

📉 The 2025 Problem
Finally, we zoom out to look at the macro landscape. With no new adult-use markets coming online and reform stuck in neutral, the cannabis sector is facing a critical year. We explore what’s holding the industry back, the increasing threat of illicit markets and mislabeled hemp, and how operators can stay agile and survive the storm.